The Kendris group has locations and licences in Switzerland, Cyprus, the BVI, the US and the UK.

Swiss wealth management house Kendris has launched a new subsidiary - Kendris Corporate Services - based in the Dubai International Financial Centre.

The firm has been serving Middle East clients from its offices in Switzerland for nearly 35 years.

“We chose to establish our presence in the region's leading financial centre, the DIFC, to provide more permanent local support to clients in this growing market, and to better address their evolving needs. We can now offer the full range of foundation and corporate vehicles available in the DIFC for private wealth structuring of regional assets; adding to our already comprehensive range of traditional international estate planning solutions that we have historically provided and continue to provide from our offices in Switzerland,” Fadi Kikano, managing officer, Kendris Corporate Services (DIFC) Ltd, said on his firm’s website. 

The Kendris group, which has locations and licences in Switzerland, Cyprus, the BVI, the US and the UK, describes itself on its website as a “Swiss partner for family office, trust and fiduciary services, Swiss and international tax and legal advice, accounting, outsourcing and art management.”

A number of banks have actually built out operations in Dubai, such as Union Bancaire Privée, DBS, Citi Private Bank, Banque Internationale à Luxembourg and Lombard Odier. On the other hand, UK-based Arbuthnot Latham confirmed in early February that it was shutting its office in Dubai.