Encircle Business Solutions
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Corporate structuring for asset protection and generational wealth

Holdings, Foundations, Investment Clubs, Family Offices and SPCs in Qatar, Cyprus and Portugal
Protect what you've built. Structure what comes next. Keep business risk away from your family's wealth Plan succession with certainty, not chance Invest with control, across countries
Passive Holdings
Active Holdings
Foundations
Investment Clubs
Family Offices
SPCs
Why structure your wealth

Everything in your personal name means everything is exposed

Most entrepreneurs build their business first and think about structure later. By then, their companies, properties and investments sit in their own name, exposed to the same risks.

Business risk reaches your family

A claim, a guarantee or a failed venture can reach personal assets that have nothing to do with it.

Succession is left to chance

Without a plan, assets can be frozen for months, divided against your wishes or end up in disputes.

Assets scattered across countries

Property in one country, companies in another and accounts in a third, with no single point of control.

Investing with partners informally

Shared deals without a vehicle mean unclear rules, unlimited liability and difficult exits.

It is not about hiding your wealth. It is about protecting it.

The difference a structure makes

Same assets. Completely different protection.

YouYour businessYour homeProperty abroadSavings & portfolioOne claim, one dispute or one unplanned succession can reach everything
You & your familyQFC FoundationPassive Holding CompanyOperating companySPC · propertyPortfolioEach layer is protected, controlled and ready to pass on
Without a structure
  • One exposure for everything. Business liabilities can reach your home and savings.
  • Succession by default. Each asset follows the inheritance rules of the country where it sits.
  • No central control. Every asset is managed separately, in your own name.
With an EBS structure
  • Ring-fenced risk. Each company and property sits in its own vehicle.
  • Succession settled. The Foundation passes control and benefits exactly as you decide.
  • One point of control. Investments in several countries, owned and reported from one holding.
Structure finder

Which structure fits you?

Answer four quick questions and see the structure we would typically start from. No registration, no commitment.

1What do you want to achieve?
2Do you own or plan an operating business?
3Where are your main assets?
4Do you have USD 5 million or more in investable assets?
The structures

Six vehicles, one goal: protect and grow what you have built

How each structure works, who it is for and what makes it different.

Passive Holding Company

A QFC holding company that simply owns: shares in your companies, stakes in real-estate vehicles and investments in any country. It does not trade, so it keeps your wealth one step removed from the risks of the businesses below it.

Best for: Entrepreneurs, investors and families who want their companies, properties and investments owned by one protected vehicle instead of in their personal name.

Key features

  • No auditor, audited accounts or annual return required (unless the QFC Authority directs otherwise)
  • Subsidiaries can be incorporated anywhere and carry on any activity
  • No minimum share capital and 100% foreign ownership
  • Future acquisitions can be signed directly in the holding's name
  • Can migrate an existing non-QFC company into the QFC as a holding

Typical uses

Own your operating companiesHold property SPVs abroadPrivate wealth vehicleClean succession
YouPassive HoldingOperating co.Property SPVShares abroad

Active Holding Company

The head of a group of companies. Besides owning subsidiaries in Qatar and abroad, it can finance them with intra-group loans, grant guarantees and security, and run head-office, management and treasury functions from the QFC.

Best for: Groups and growing businesses that want one regional parent to control, finance and expand their subsidiaries.

Key features

  • Intra-group loans, guarantees and security for any group company
  • Head-office, management and treasury activities with QFC Authority approval
  • Subsidiaries do not need to be in the QFC or in Qatar
  • Director, secretary and registered office can be provided by a QFC-approved Support Service Provider
  • Files annual accounts, auditor's report and annual return

Typical uses

Regional headquartersGroup financingExpansion from QatarJoint ventures
ShareholdersActive HoldingSubsidiaryQatarSubsidiaryGCCSubsidiaryEuropeIntra-group loans, guarantees & treasury

QFC Foundation

A legal entity with no shareholders that holds assets for the purposes and beneficiaries set out in its constitution. It continues after the founder's death, so assets and income are distributed exactly as the founder intended.

Best for: Families planning succession and generational wealth, and founders who want to separate control of the family business from its economic benefits.

Key features

  • Perpetual existence: it survives the founder
  • Constitution kept confidential, filed only with the QFC Registrar
  • Separates voting control from economic benefits of family shares
  • Council of at least two members plus an independent enforcer
  • Founder, assets and beneficiaries can be from any acceptable jurisdiction

Typical uses

Family company sharesSuccession planningEmployee share schemesLender security
FounderQFC FoundationFamily holdingReal estatePortfolioBeneficiariesas set in the constitution

Investment Club

A small group of 2 to 15 individuals or companies who pool their money in one legal entity to invest in a common portfolio, monitor it and decide together, with liability separated between the club and its members.

Best for: Friends, business partners and families who already invest together and want a proper, protected vehicle with clear rules.

Key features

  • Between 2 and 15 members, of any nationality, individuals or companies
  • Own legal personality: members' liability is separated from the club
  • Members can transfer or sell their shares with QFC Authority approval
  • A Club Manager resident in Qatar runs the day-to-day administration
  • Private by design: it cannot list or offer shares to the public

Typical uses

Angel & co-investmentShared real-estate dealsPartner portfoliosPrivate equity stakes
MemberMemberMemberup to 15Investment ClubEquitiesReal estatePrivate deals

Single Family Office

A private wealth-management company dedicated to one family. It manages the family's investments, money and assets, provides custody, fiduciary and accounting services, and can organise philanthropy and the family's other entities and structures.

Best for: Families with at least USD 5 million in investable assets who want professional, centralised management of their wealth across generations.

Key features

  • Minimum USD 5 million of investable or liquid assets (realisable within 180 days)
  • Serves one family: bloodline descendants of a common ancestor, up to three generations
  • Confidentiality of founders and beneficiaries, with international transparency standards
  • May be eligible for tax-exempt status as an investment fund
  • Can administer family trusts and entities established outside the QFC

Typical uses

Investment managementFamily governancePhilanthropyConsolidated reporting
Single familyup to 3 generationsSingle Family OfficeInvestmentsFamily entitiesPhilanthropy

Special Purpose Company

A company created for one transaction or series of transactions: acquiring and holding an asset, raising finance, holding IP rights or a joint-venture interest. If anything goes wrong, the risk stays inside the SPC.

Best for: Property purchases, project financing, IP holding and joint ventures where one asset or deal must be isolated from everything else.

Key features

  • No audit, accounts filing or annual general meeting unless the QFC Authority requests it
  • Most SPCs are not subject to tax, with advance rulings available on exempt status
  • No withholding tax on interest, dividends, management or guarantee fees
  • No minimum share capital; conventional or Sharia-compliant
  • Managed through a QFC-approved Support Service Provider

Typical uses

Property acquisitionProject & asset financeIP rights holderJoint venture vehicle
Parent / sponsorSPCAssetBank financingIP rights
Side by side

Compare the structures at a glance

 Passive Holding CompanyActive Holding CompanyQFC FoundationInvestment ClubSingle Family OfficeSpecial Purpose Company
Main purposeOwn and protect shares and assetsHead, finance and manage a groupSuccession and asset protectionPool money to invest togetherManage one family's wealthIsolate one asset or transaction
Ideal forEntrepreneurs, investors, familiesGroups and expanding businessesFamilies, founders2–15 partners or friendsFamilies with USD 5M+Property, financing, IP, JVs
Owners / members1 or more shareholders1 or more shareholdersNo shareholders: founder, council, enforcer, beneficiaries2 to 15 membersMembers of a single family1 or more shareholders
MinimumNo minimum capitalNo minimum capitalNo minimum capitalNo minimum capitalUSD 5M investable assetsNo minimum capital
Audit & annual returnNot required*RequiredAs per its constitution and QFC rulesAs per QFC rulesAs per QFC rulesNot required*
Survives the founderShares pass by inheritanceShares pass by inheritanceYes, perpetualShares pass with QFCA approvalContinues for the familyUntil the transaction ends
Best featureSimplicity and low maintenanceIntra-group financing and treasuryConfidential constitutionShared control with clear rulesProfessional family governanceTax-exempt status available

* Unless the QFC Authority directs otherwise. Summary based on QFC factsheets; every structure is reviewed case by case.

Jurisdictions

The right jurisdiction for each layer

We build from Qatar and extend into the European Union when your assets, investments or future residency require it.

Cyprus

EU holding

A long-established EU holding jurisdiction.

  • Participation exemption on qualifying dividends received
  • No withholding tax on dividends paid to non-resident individuals
  • No tax on gains from selling shares (except property-rich companies)
  • 15% corporate tax from 2026 and a wide treaty network

Portugal

EU holding

For European assets and families relocating to Portugal.

  • Participation exemption on dividends and share gains (10%+ held for 12 months)
  • Corporate tax of 19% in 2026, falling to 17% by 2028
  • Full access to EU directives and Portugal's treaty network
  • A natural fit for clients moving their residency to Portugal

Tax rates and conditions change and depend on each case. EBS coordinates with licensed local advisers in Cyprus and Portugal.

How we work

From your first conversation to a structure that runs itself

Many firms design a structure and leave. We set it up and keep it compliant year after year.

Step 1

Diagnose

We map your companies, properties, investments, family and residency, and agree what you want to protect and why.

Step 2

Design

We propose the structure chart, jurisdictions, governance and roles, and review tax impacts with local advisers.

Step 3

Implement

Incorporation, licences, constitutional documents, transfers of shares and assets, and bank accounts.

Step 4

Maintain

Company secretary, filings, UBO updates, accounting, renewals and an annual review as your life and assets change.

Recent mandates

Real situations, real structures

Generational wealth

A Qatar resident with property in Morocco and plans to invest in Asia

Challenge
Properties held in her personal name and new investments coming in other countries.
Structure
QFC holding company, with a services company below it to manage renovations, and new acquisitions signed in the holding's name.
Result
One protected vehicle that owns and controls her international assets.
Relocation

An entrepreneur in the UAE preparing to relocate to another jurisdiction

Challenge
A consulting business plus stakes in real-estate vehicles in Indonesia and Mexico, all held personally.
Structure
A personal passive holding company owning the consultancy and the real-estate stakes.
Result
Investments separated from the operating business and organised before the move.
Owner abroad

An energy trading business whose owner is not based in Qatar

Challenge
Operate a trading company in Qatar without the owner being present day to day.
Structure
QFC holding company above an MOCI trading company, with EBS acting as company secretary and authorised signatory.
Result
Ownership protected at holding level and operations running in Qatar.

Client details anonymised.

Our principles

Structures that stand up to scrutiny

A structure is only valuable if banks, regulators and tax authorities accept it. That is why every structure we design is transparent, documented and has real purpose.

Full transparency

Beneficial owners are always reported to the regulator, as international standards require.

Real substance

Registered office, directors and governance in place where the rules require them.

Documented purpose

Every entity has a clear commercial or family purpose, recorded from day one.

Coordinated advice

We work with licensed tax and legal advisers in the countries where you and your assets are.

FAQ

Questions we hear every week

A passive holding only owns shares and assets, so in the QFC it does not need an auditor, audited accounts or an annual return unless the QFC Authority directs otherwise. An active holding can also finance its subsidiaries, give guarantees and run treasury or head-office functions, and therefore files audited accounts and annual returns.

Yes. Subsidiaries of a QFC holding company do not need to be in the QFC or in Qatar, and can carry on any activity. Moving existing assets into a structure can trigger taxes in the country where the asset is located, so we review each transfer before recommending it.

No. Shareholders, founders, members and beneficiaries can be of any nationality and live anywhere. Some roles, such as the resident director, secretary or Senior Executive Function, must be held by a Qatar resident, and EBS can provide or coordinate them for you.

The constitution of a QFC Foundation is filed only with the QFC Registrar and is not public, unless a statutory obligation or a QFC Court order requires disclosure. Beneficial ownership is still reported to the authorities, as required by international transparency standards.

A Single Family Office in the QFC requires at least USD 5 million of investable or liquid assets, realisable within 180 days, and must serve only one family. Below that threshold, a Foundation combined with a holding company usually gives the same protection and can grow into a Family Office later.

For assets and investments inside the European Union, an EU holding company can benefit from EU directives and double tax treaties. Cyprus and Portugal both offer participation exemptions on qualifying dividends and share gains. We often combine them with a QFC structure at the top.

No. Our structures are designed to protect assets, organise control and plan succession, fully transparent to regulators and with real substance where required. Where tax is relevant, we coordinate with licensed tax advisers in the countries where you and your assets are.

Yes, and the strongest structures usually do: for example a Foundation that owns a passive holding, which owns the operating companies and SPCs for each property, with a Family Office managing the investments.

Let's design the structure behind your wealth

Tell us about your companies, assets and family. We will come back with a first view of the structure that fits you, at no cost.

Book a structuring consultation

Contact Us

Tell us what you want to protect and who it is for. A structuring advisor will get back to you to arrange a confidential first conversation.

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