Family Offices Comparative Guide

1. Market snapshot

1.1 How embedded is the family office model in your jurisdiction? Describe its evolution to date.

The family office model in Portugal has evolved significantly over the past decade, gaining traction as the economic landscape has changed and wealth among high-net-worth individuals has increased. Initially rare, family offices began to emerge in response to the 2008 financial crisis, as affluent families sought more personalised financial management solutions beyond traditional banking and private wealth management services.

In the 2010s, the popularity of family offices grew, fuelled by the Portuguese Golden Visa programme and by favourable tax regimes, which attracted foreign investments and a new wave of wealthy individuals looking for tailored asset management.