As the world faces unprecedented challenges, it has become increasingly crucial for businesses to adapt to changing times. In this issue of the digital magazine, Huriya Private is highlighted as one of the 10 Best Companies of the Year 2023. Huriya Private is a global leader in the trust & corporate services industry, offering a wide range of corporate structuring, wealth management and second citizenship and residency solutions. Headquartered in Dubai, with additional offices in Zurich and Doha, and plans to open a new office in New York later this year. The firm primarily caters to high-net-worth individuals and families with assets and businesses in multiple countries and jurisdictions. In this interview, we speak to the CEO of Huriya Private about the company’s success, challenges, and vision for the future.
Tell us in brief about the firm and its journey.
I established Huriya Private after 25 years of experience in the HNW Trust & Corporate Services industry, and 15 years of experience in Dubai, Doha, and Manama. We work primarily with high-net-worth clients, assisting them in establishing second citizenship, setting up and restructuring their businesses and managing their wealth.
We first opened in Dubai and now have offices in Zurich and Doha with a new one due to open in New York later this year.
In 2021, we also launched Huriya Foundation, a non-profit charitable initiative. The foundation’s focus is education and the empowerment of women, and specifically making a difference in the lives of communities in the Middle East and Asia. It works with a number of charities and organizations such as Dubai Cares, the Cherie Blair Foundation for Women, the Al Jalila Foundation and the Christina Noble Children’s Foundation.
Our business plan from day one was to establish a charity and give back to the communities we work with, so it’s incredibly satisfying to have been able to have achieved that.
Give us a comprehensive take on your primary services? And also talk about the bespoke services you offer to global clients.
Most of our clients are high-net-worth families and individuals with assets and businesses which span multiple countries and jurisdictions. Our primary service to them is the provision of second citizenship and other corporate structuring and wealth management solutions.
We also offer a comprehensive list of other corporate services such as company formation, corporate banking and tax and accounting services.
As an independent and international firm, what is your greatest strength that sets you apart from others in your field?
Our greatest strength is our team. We understand that our employees are our greatest asset and our success as a company depends on the commitment we make to their well-being, job satisfaction and professional development. We have over 40 years of experience in the financial services industry and all our staff are carefully selected for their industry expertise, technical knowledge and extensive professional network. Amongst our team are highly qualified lawyers and accountants all of whom are focused on giving the best possible level of service to our clients and ensuring their satisfaction in the solutions we provide.
Who is your target audience? Which countries/regions do you cater to?
We deal primarily with high-net-worth families and individuals. The clients we have come from all over the world and the solutions that we provide are global. We offer dual citizenship programmes across the entire EU and Commonwealth, and many of our clients have investment and business interests that span multiple countries. Our solutions allow them to maximize the return on their investments and minimize their tax burden.
What were some of the challenges the firm faced and how did it overcome them?
Recruitment is always a challenge. We have worked with recruitment companies in the past and have a comprehensive interview process to ensure that we recruit the right talent. Ensuring we have the right talent is key to our business success and to ensuring that we provide the best service to our clients. Our industry is also changing at an ever-increasing rate, so it’s important for us to stay up to date with new industry trends and legislation in order to keep our services and product offering on point.
What are some of the transformations in the Trust & Corporate Services/ Finance industry that the firm looks forward to?
There have been a huge number of legal and commercial reforms in the UAE over the last few years which are helping to encourage foreign direct investment and attract an influx of wealthy individuals to the UAE. Recent developments such as the golden visa, the relaxation of restrictions on foreign ownership of commercial companies and other amendments to commercial and labor law are making the UAE an attractive investment destination. I’m looking forward to seeing the country continue to open up and create further opportunities for us at Huriya.
As an award-winning firm, what are the top three contributors to success?
First and foremost, our team. If they are happy and motivated, they will give their best and represent the company well. Secondly, I believe that providing a first-class service is paramount. The success of our company depends on the satisfaction of our clients and there is no greater reward than being able to meet and exceed client’s expectations. Finally, I think it’s important never to settle. The industry is continually evolving, and we must move with it in order to continue being successful.
Tell us more about the mission, vision, and core values?
Our mission is to provide our clients with the freedom of movement. With the rise of globalization, the traditional perception of citizenship being limited to only one nation state has changed. There is a growing acceptance of dual citizenship and an increasing number of countries that have programmes to cater to this. These programmes offer many benefits including global travel freedom, an insurance policy and broader economic options. We give our clients access to these benefits and allow them to enjoy more opportunities and a better quality of life for themselves and their families. Our vision is to provide the highest quality of advice and service to our select client base, and to be the advisory partner of choice to the high-net-worth community.
What does your future look like?
I look forward to continuing to grow Huriya Private and expanding into other markets. 2022 has been an incredibly busy year for us. We’ve doubled our staff here in Dubai thanks to the massive interest generated by golden visas and second passport opportunities, and I’m excited to explore similar opportunities in other international markets. We have a new office opening soon in New York and I hope to enjoy the same success there as we’ve had in the UAE.