How to set up a family office abroad? More wealthy Indians want to know

For Indians, Dubai and Singapore are popular destinations. Significantly, Singapore recently opened an agency to welcome family wealth management firms

Indian business owner families are enquiring about the process of setting up offices outside India. The enquiries have registered a spike and primarily came from wealthy Indian business owners, according to a report by Financial Express (FE). The questions included topics such as RBI regulations around establishing such a setup.

Notably, the Reserve Bank of India (RBI) introduced changes in overseas investment rules in August last year. The change permitted profitable non-financial entities to establish financial services offices abroad and allowed firms to invest up to 400 per cent of the investing firm's net worth.

Market experts expect RBI to