Accounting software for family offices in UAE that look after several generations

Family offices are a set of entities rather than one business. On the Business plan each entity has its own ledger, with a common chart so figures can be compared.

• Investment portfolios by custodian: equities, bonds, funds, private equity commitments
• Property holdings: rental income, service charges, maintenance, mortgages
• Operating assets such as vehicles, yachts and aircraft, with running costs
• Family member current accounts and allowances
• Office running costs and professional fees

The tax position depends on which entity holds each asset and what it does. Residential leases after the first supply are exempt from VAT and commercial leases are standard-rated at 5%, so a property company with both needs to track input VAT that relates to each. Holding companies receiving dividends from UAE resident companies treat them as exempt income for corporate tax, and foreign dividends depend on the participation exemption tests.

Corporate tax applies at 9% on taxable income above AED 375,000 for entities within its scope. How investment and personal assets are held, including through foundations or trusts, is a matter for your tax and legal advisers; HelloBooks keeps the records they need.

Upload a custodian statement and the agent posts dividends, coupons, fees and trades to the right entity, converting from USD or EUR and recording FX differences. Rent cheques from tenants are matched from bank statement uploads. Household bills paid by the office are read and charged to the right family member’s account.

Ask “what was total investment income across all entities this quarter in AED?” or “how much did we spend on the yacht this year?” The controller reviews each month’s postings and the principal approves large payments.

Net worth by entity, income by asset class, cash across banks and spending by family member are the usual monthly pack. A portfolio that yielded AED 1.4 million of income against AED 210,000 of fees shows its real net return.

Family offices usually want custom report layouts, strict access so each family member sees only their own accounts, and an audit log of every change. The HelloBooks team can configure these privately; book at /book-a-demo or email hello@hellobooks.ai.