There has been a significant change in the approach to wealth management, investments, and taxes amongst wealthy individuals and family offices in India. One notable development is the growing preference for fund structures over direct investments from a company's balance sheet.

Family offices of great Indian billionaires Narayan Murthy (Cataraman) and Azim Premji (Premji Invest) are now looking towards GIFT City, the pioneering International Financial Services Center (IFSC) in India, as a means to facilitate organized global investments. The self-managed Family Investment Funds (FIFs) are crucial in this change and have gained momentum within the IFSC framework.

What is a Family Office?

The simplest definition of a family office is that it is a private firm that offers wealth management advice to ultra-high-net-worth individuals (HNWI).

Affluent individuals and families often require specialized financial and investment management services tailored to their needs. Family offices exist to provide comprehensive solutions that address a wide range of financial concerns, from wealth preservation and growth to tax planning and estate management.

These offices are staffed by experienced professionals who are well-versed in the complexities of managing large fortunes and can help clients navigate the often-complicated landscape of modern finance with confidence and ease.

Many family offices provide services beyond financial planning and investment management, such as budgeting, insurance, charitable giving, wealth transfer planning, tax services, and more.

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