What Is a Family Office?
A Family Office is a private entity created to manage, preserve and grow family wealth.
It operates as a legal entity, much like a private company, and is designed to provide comprehensive financial, legal, and strategic management for high-net-worth families.
Its three main objectives are:
- Preservation – protecting existing assets and ensuring stability.
- Expansion – creating opportunities for growth and diversification.
- Succession – facilitating generational transfer with minimal friction.
One of the central pillars of a Family Office is tax optimisation, as it allows assets to be managed collectively and more efficiently.
If you are obliged to declare the Wealth Tax in Spain — for example, because you own more than two non-habitual residences or hold assets exceeding €700,000 — a Family Office may be the ideal structure for you.
(Reference: Agencia Tributaria – Impuesto sobre el Patrimonio)
Through consolidation, families can reduce tax exposure, increase investment capacity, and streamline intergenerational wealth transfers under a unified strategy.
How to Set Up a Family Office in Spain
Establishing a Family Office in Spain requires a multidisciplinary professional team — combining legal, fiscal, financial, and strategic expertise.
At Frau Legal, we advise families on whether to establish a single-family office (exclusive to one family) or a multi-family office, depending on the size and complexity of their assets.
The Process Involves:
- Preliminary Assessment – analysing the family’s structure, goals, and type of assets.
- Legal and Fiscal Structuring – defining the entity type, governance, and tax optimisation model.
- Financial Strategy Design – investment planning, risk management, and profitability targets.
- Succession Planning – ensuring efficient wealth transfer to future generations.
The Spanish legal framework requires the participation of experts in:
- Tax law and compliance,
- Corporate structuring, and
- Investment and estate management.
This ensures that the Family Office becomes not just an administrative centre, but a vehicle for sustainable wealth management and expansion.
(Reference: Ley 58/2003, General Tributaria)
How Much Do Family Office Services Cost?
The cost of Family Office services depends on several factors:
- The size and complexity of the family’s wealth.
- Whether it is a single-family or multi-family structure.
- The range of services included (asset management, tax advice, succession, philanthropy, etc.).
Unlike hiring separate advisors, the Family Office model integrates all services, offering a unified and often more cost-efficient solution.
In essence, the cost reflects the scope of the strategy — not just administration, but the professional coordination required to protect and grow wealth.
Why Work with Frau Legal
At Frau Legal, we specialise in the legal and fiscal structuring of Family Offices for national and international clients.
Our multidisciplinary team provides:
- Legal and tax planning for high-net-worth individuals.
- Succession and estate structuring under Spanish and EU regulations.
- Coordination with financial advisors and asset managers to ensure full legal compliance and profitability.
Building a Family Office is not only about wealth — it’s about legacy, protection, and intelligent planning for the generations to come.
