A Seamless Transition: Tailored Family Office and Domestic Recruitment Solutions for UHNW, HNW, Royal, and VIP Families Relocating from London to Monaco or Dubai

For ultra-high-net-worth (UHNW), high-net-worth (HNW), Royal, and VIP families, a seamlessly managed lifestyle is essential—especially with recent UK tax changes prompting many to reconsider residency. The UK’s abolition of the non-domiciled (non-dom) tax regime and new restrictions on offshore trusts have increased tax liabilities for these individuals. With Monaco and Dubai offering favorable tax environments and exceptional living standards, many families are now exploring relocation options.

Navigating New Tax Rules and Transitioning Abroad

The upcoming UK tax changes mean UHNW and HNW individuals who previously benefited from non-dom status will now face taxation on worldwide income and gains, regardless of domicile, and will lose protections for offshore trusts. These changes are expected to bring significant tax burdens, and wealth experts predict that many non-doms may consider leaving the UK. Industry professionals have expressed concern about the impact on wealth retention, with David Goepel, Head of Private Client International at Evelyn Partners, noting, “Many of the proposed changes take effect from 6 April 2025, and so it will be essential for many clients to conduct a holistic review of their existing structures together with their wider estate planning. Leaving the UK is not the only option—but advice needs to be taken quickly before next April.”

Platinum Group Recruitment’s Comprehensive Relocation and Recruitment Services

Platinum Group Recruitment provides high-caliber recruitment for family offices and private households, designed to help UHNW and HNW families transition smoothly to Monaco or Dubai. Our expertise spans two core areas—family office and executive recruitment as well as domestic recruitment—to meet clients’ needs with professionalism and discretion.

Key Roles in Family Office Recruitment

Family offices serve as the operational center for UHNW and Royal families, overseeing wealth management, administration, and strategic projects. Platinum Group Recruitment sources experienced professionals for essential family office roles, including:

Head of Family Office: As a key leader, the Head of Family Office coordinates operations, oversees staff, and provides strategic support to manage high-level and daily activities. This role is essential in ensuring the family’s interests are managed with efficiency and professionalism.

Executive and Personal Assistants: These roles support the family’s daily logistics, from managing schedules and travel to handling confidential administrative tasks. With an understanding of Monaco’s cultural environment and complex administrative processes, executive assistants enhance lifestyle efficiency and manage all organizational tasks with professionalism.

Financial and Legal Advisors: Families benefit from advisors who provide expertise in wealth management, trusts, tax planning, and other critical areas. Platinum Group Recruitment connects clients with professionals who are experienced in handling sophisticated bespoke requirements and structures.

Key Roles in Domestic Recruitment

In addition to family office recruitment, Platinum Group’s domestic recruitment ensures that every detail of home life is managed seamlessly. Key roles include:

House Managers and Housekeepers: The House Manager oversees household operations, coordinating maintenance, managing staff schedules, and working closely with housekeepers to ensure the home runs with elegance and efficiency.

Butlers: Dedicated to high standards of service, butlers manage formal service, household organization, and personal service needs, collaborating with other staff to deliver a refined level of hospitality that meets the family’s expectations.

Bilingual Nannies and Governesses: For families with children, Platinum Group Recruitment provides access to experienced nannies and governesses who offer both caregiving and educational support. These professionals are particularly valuable for families prioritizing a bilingual and culturally enriched environment for their children.

Private Chefs and Security Personnel: Catering to families who value privacy and exclusivity, private chefs provide personalized dining and dietary experiences, while security personnel ensure a safe and secure environment for the family’s peace of mind.

Many UHNW and HNW families ask us to assist them in bringing their established household and family office staff when relocating from the UK to Europe, but the current visa approval process for UK passport holders has become lengthy and often impractical. With new Brexit regulations, European visas for these roles are increasingly limited. Platinum Group Recruitment provides guidance on local recruitment and integration, ensuring families can establish trusted teams locally in their new homes.

Ongoing Support and Services

Beyond recruitment, Platinum Group offers ongoing support to maintain a cohesive lifestyle across residences. Our fractional Chief of Staff services provide high-level assistance as needed, including project-based support, without the commitment of a full-time role.

Our Platinum Virtual Assistants (VAs) provide flexible part- or full-time support and concierge services for managing schedules, family projects, and administrative tasks. We offer packages tailored to each family’s needs, ensuring reliable support whether for a few hours each week or continuous assistance. We also offer turnkey relocation assistance to streamline moves to Monaco or Dubai, where we have 17 years of experience assisting expat families. This includes residency administration, schooling options, real estate guidance, and local business and cultural resources to integrate families into elite communities smoothly.

Luxury, Privacy, and Professionalism at Every Step

At Platinum Group Recruitment, privacy and professionalism are paramount. Each placement is carefully matched to align with the family’s needs, ensuring support by seasoned professionals who understand the demands of exclusive environments.

Monaco and Dubai represent refined living, luxury, and privacy, and we make these lifestyles accessible by managing every detail with care. From family office recruitment to household recruitment, Platinum Group ensures each family experiences the freedom and sophistication they expect.

Seamless Integration for an Exclusive Lifestyle

For UHNW, HNW, Royal, and VIP families relocating to Monaco or Dubai, Platinum Group Recruitment offers a path to luxury, privacy, and seamless integration. By delivering tailored recruitment solutions for family office and domestic roles, with concierge and ongoing support where necessary, we empower families to fully embrace these exclusive lifestyles with confidence and ease.

Contact Platinum Group Recruitment today for a consultation!

📞 Call us at: +33 7 60 03 83 55
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Best Practices for Structuring Personalized Family Offices in Switzerland

Cécile Civiale Vuillier | September 2024

Introduction

Family wealth management is undergoing significant transformation, as traditional methods are increasingly challenged by modern wealth creation models and evolving family dynamics. This article delves into the best practices for structuring personalized family offices, addressing the unique needs of both long-established family businesses and newly affluent high-net-worth individuals (HNWIs), while highlighting the complex challenges inherent in this process.

The Evolution of Family Office Structures

Legacy vs. Modern Approaches

Historically, family offices were often informal, evolving organically from existing family business structures. However, today’s landscape is shifting toward purpose-built family office entities, particularly among self-made entrepreneurs who have generated significant wealth through innovative ventures and technological enterprises.

Key Considerations in Structure Design

When designing a family office structure, several critical factors should be considered to ensure its success:

1. Separation of business and personal interests

2. Risk management and asset protection

3. Operational efficiency and cost-effectiveness

4. Compliance with regulatory requirements

5. Flexibility to adapt to changing family needs

A personalized family office must be adaptable, efficient, and protective of both personal and business interests, while ensuring long-term success.

Challenges in Setting Up a Family Office

Establishing a family office is a sophisticated endeavour that presents several key challenges:

1. Expertise Gap: Families may lack the diverse skill sets necessary to manage complex wealth structures, investment portfolios, and operational logistics.

2. Regulatory Complexity: Navigating international regulations and compliance obligations can be daunting, given the varying legal environments across jurisdictions.

3. Cost Considerations: Maintaining an in-house team of specialists can be financially prohibitive, particularly for smaller or emerging family offices.

4. Technology Infrastructure: Developing and maintaining systems for financial management, reporting, and cybersecurity involves significant investment.

5. Talent Acquisition and Retention: Sourcing and retaining top-tier professionals in wealth management, legal, and tax advisory roles can be a major challenge.

6. Scalability Issues: As family wealth grows or needs evolve, expanding operations efficiently becomes increasingly difficult.

7. Conflict Management: The intersection of family dynamics and professional management often leads to governance and conflict-resolution challenges.

8. Privacy and Security Concerns: Protecting sensitive family information and ensuring confidentiality requires advanced security strategies.

These challenges often prompt families to explore outsourcing as a viable alternative to building a full-fledged in-house family office.

Outsourcing Family Office Services: The Trustconsult Advantage

As families grapple with the complexities of setting up their own family offices, outsourcing has emerged as an increasingly popular solution. Specialized firms like Trustconsult offer comprehensive family office services tailored to each family’s unique needs, providing expertise, efficiency, and a culture of accountability.

Benefits of Outsourcing to Trustconsult:

1. Expertise and Experience: Trustconsult brings over two decades of expertise in wealth management and company formation in Switzerland, helping families overcome knowledge gaps.

2. Cost-Effectiveness: By outsourcing, families avoid the high overhead associated with maintaining a full in-house team, while still accessing top-tier services.

3. Scalability: Trustconsult’s services are flexible and scalable, allowing families to adjust offerings as their needs evolve.

4. Compliance Assurance: Trustconsult’s deep understanding of Swiss regulations and international best practices ensures seamless navigation of complex regulatory landscapes.

5. Time Efficiency: Families can focus on their core interests while Trustconsult manages the complexities of wealth management and administration.

6. Advanced Technology Infrastructure: Trustconsult’s state-of-the-art systems offer robust financial and cybersecurity solutions without the need for families to invest heavily in technology.

7. Access to Top Talent: Trustconsult provides access to a multidisciplinary team of seasoned professionals, alleviating the challenges of talent acquisition and retention.

A Culture of High Performance at Trustconsult

Trustconsult’s commitment to a performance-driven culture sets it apart from other providers in the family office services industry. Key elements include :

1. Measurable Outcomes: Tailored performance metrics are established for each family, with regular progress reporting.

2. Continuous Improvement: Trustconsult’s professionals engage in ongoing development and stay ahead of industry trends to offer cutting-edge solutions.

3. Accountability: Transparent reporting and regular reviews ensure that Trustconsult takes full responsibility for its services.

4. Proactive Problem-Solving: Instead of reacting to problems, Trustconsult anticipates challenges and implements innovative solutions.

5. Benchmarking: Performance is continuously compared against industry standards to guarantee superior results.

6. Client-Centric Approach: A strong commitment to meeting and exceeding client goals drives

Trustconsult’s performance culture.

Trustconsult's Family Office Services

Trustconsult offers a wide range of family office services, including:

• Investment Management and Advisory

• Financial Planning and Reporting

• Legal and Tax Advisory

• Philanthropy Coordination

• Lifestyle and Concierge Services

• Company Formation and Administration in Switzerland

Customized Solutions for Unique Family Needs

Understanding that no two families are the same, Trustconsult provides flexible engagement models, from fully outsourcing family office functions to supplementing existing family structures with specific services.

Conclusion

Designing a personalized family office involves careful consideration of legal, tax, operational, and family dynamics. The challenges, though significant, can be effectively managed by following best practices, leveraging expert advice, and exploring the benefits of outsourcing.

Whether your family chooses to establish an independent family office or outsource these functions, Trustconsult is committed to providing performance-driven solutions that align with your wealth preservation and growth objectives. With a comprehensive suite of services and a focus on excellence, Trustconsult ensures swift, compliant, and practical solutions tailored to your unique needs.

For more information on how we can help you optimize your family office structure and wealth management strategies, contact Cécile Civiale Vuillier, Partner & CEO of Trustconsult (Suisse) S.A.

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