As India’s economy continues to surge and entrepreneurial success stories multiply, a quiet but powerful trend is gaining traction among the ultra-wealthy: Family Offices.
But what exactly is a family office? Why are they becoming increasingly popular in India? And how do they operate behind the scenes to preserve generational wealth?
Let’s dive in.
What is a Family Office?
A Family Office is a private advisory firm established by ultra-high-net-worth individuals (UHNWIs) to manage their wealth, investments, taxation, legal affairs, and succession planning — all under one roof.
In simpler terms, it’s like having your own personal CFO and wealth management team, but dedicated solely to one family.
There are two main types:
• Single-Family Office (SFO): Created for and by one wealthy family.
• Multi-Family Office (MFO): A professional firm serving multiple families, offering shared resources and expertise.
Why Are Family Offices Booming in India?
India has seen a dramatic rise in wealth creation — from successful business exits to startup unicorns and legacy business empires. Here’s why family offices are gaining ground:
• Complex Wealth Structures: Managing diversified assets across sectors and geographies requires professional oversight.
• Succession & Legacy Planning: Families want to ensure smooth wealth transition across generations.
• Privacy & Control: Family offices offer a confidential, in-house approach to financial decisions.
• Philanthropy: Many families use these structures to manage charitable initiatives efficiently.
What Services Do They Offer?
A typical family office in India may handle:
• Investment Management: Equity, debt, real estate, PE/VC funds, international diversification.
• Tax and Legal Advisory: Compliance, tax optimization, legal structuring.
• Estate & Succession Planning: Wills, trusts, intergenerational wealth transfer.
• Philanthropy: Managing family foundations and CSR initiatives.
• Lifestyle & Concierge Services: Real estate, staff management, education, travel planning.
Example: PremjiInvest
One of India’s most prominent family offices is PremjiInvest, founded by Azim Premji, the former chairman of Wipro.
• Assets Managed: Over ₹1.5 lakh crore (~$18B)
• Focus: Long-term investments in Indian and global companies
• Also Manages: Azim Premji Foundation, one of India’s largest philanthropic initiatives
PremjiInvest showcases how a family office can evolve into a full-fledged investment powerhouse while keeping family legacy and values at its core.
Example: Reliance Family Office
Another major example is the family office established by the Ambani family, which manages the vast wealth of Reliance Industries.
• Assets Managed: Estimated at several billions of dollars, covering both Indian and global investments
• Focus: Diversification into sectors such as telecommunications (Jio), retail, energy transition, technology startups, and global real estate holdings
• Also Manages: Strategic philanthropy initiatives through the Reliance Foundation, led by Nita Ambani
The Ambani Family Office demonstrates how India’s largest business empire carefully plans succession, legacy management, and global diversification through a professionalized family office setup.
Are Family Offices Regulated in India?
There’s no specific regulatory framework for family offices in India yet. However:
• If structured as an investment advisor or portfolio manager and managing external funds (like in an MFO), SEBI regulations may apply.
• Most family offices are set up through trusts, LLPs, or private limited companies to ensure flexibility and tax efficiency.
Final Thoughts
As India’s wealthy families look beyond just wealth creation to wealth preservation, governance, and impact, family offices are becoming an essential part of the financial ecosystem.
They are not just managing money — they are shaping legacies.
Want to Start a Family Office?
Whether you’re a first-generation entrepreneur or managing a legacy business, setting up a family office could be your smartest long-term move. It starts with the right structure, the right team, and the right vision.
To learn more about Family Offices in India, reach out to our experts for personalized guidance.