Key Takeaways
- • Rainer Michael Preiss, Partner and Portfolio Strategist at DAS Family Office, argues in an opinion piece for The Astana Times that Astana should evolve from a financial jurisdiction into the family-office and private-capital hub of Central Asia.
- • The AIFC already provides an English-law framework, the AIX exchange, an independent court and regulator, and a dedicated family-office framework, which the author sees as the starting point rather than the end of the strategy.
- • The author proposes a regional rather than national positioning, targeting entrepreneurs and families in Uzbekistan, Kyrgyzstan, Tajikistan, and potentially the Caucasus and Mongolia.
- • The proposed competitive edge is proximity to Central Asian deal flow in infrastructure, mining and metals, agriculture, energy transition and technology, across a market of roughly 80 million people, rather than competing with Zurich, Singapore or Dubai on custody.
- • Recommendations include an AIFC Family Wealth and Private Capital Centre, a joint AIFC-Nazarbayev University center, an annual Central Asia Family Wealth Report, a NextGen Family Enterprise Program, and a Central Asia Family Capital Summit of 300 to 500 principals.
Summary
The Astana Times has published an opinion piece by Rainer Michael Preiss, Partner and Portfolio Strategist at DAS Family Office, arguing that Astana can become the private-capital and family-office hub for Central Asia. The author notes that Kazakhstan and Uzbekistan are attracting rising international investment, regional capital markets are deepening, and a new generation of business owners is considering succession and wealth preservation, yet the region has no natural home for private capital and family offices. The author states that the Astana International Financial Centre (AIFC) already has much of the institutional architecture required, including an English-law framework, the AIX exchange, an independent court and regulator, and a family-office framework. The author cautions that Astana should not try to imitate Singapore, Switzerland or Dubai.
The central argument is that financial centers are ecosystems, not buildings or regulatory regimes. Family offices depend on private banks, investment managers, lawyers, trustees, tax advisers, fund administrators and succession advisers, as well as on other families nearby. The author suggests an AIFC Family Wealth and Private Capital Centre to gather these participants under one institutional framework, and argues that multi-family offices are well suited to a region where large fortunes are numerous but individually small. The author recommends that Astana position itself as Central Asia's international wealth-management jurisdiction rather than Kazakhstan's alone, serving families in neighboring markets and acting as a bridge to custody centers such as Zurich, Singapore and the UAE. An example given is a family office in the AIFC maintaining custody relationships with Swiss, Singaporean or Emirati banks.
The author identifies the region's private markets as Astana's distinctive advantage, citing infrastructure, logistics, mining and metals processing, agriculture, energy transition and technology as sectors needing capital that local banks cannot fully supply. The author argues that proximity to deal flow, not custody, is the genuine edge, and suggests international private banks could establish advisory desks in Astana while custody remains abroad.
On talent and research, the author proposes a joint AIFC-Nazarbayev University center for private capital and family enterprise, broader AIFC training covering family-office advisory, succession law, private markets and digital assets, an annual Central Asia Family Wealth Report, and a Central Asia NextGen Family Enterprise Program. The piece closes with a proposed Central Asia Family Capital Summit of 300 to 500 participants. The views expressed are those of the author and do not necessarily reflect the position of The Astana Times.
The central argument is that financial centers are ecosystems, not buildings or regulatory regimes. Family offices depend on private banks, investment managers, lawyers, trustees, tax advisers, fund administrators and succession advisers, as well as on other families nearby. The author suggests an AIFC Family Wealth and Private Capital Centre to gather these participants under one institutional framework, and argues that multi-family offices are well suited to a region where large fortunes are numerous but individually small. The author recommends that Astana position itself as Central Asia's international wealth-management jurisdiction rather than Kazakhstan's alone, serving families in neighboring markets and acting as a bridge to custody centers such as Zurich, Singapore and the UAE. An example given is a family office in the AIFC maintaining custody relationships with Swiss, Singaporean or Emirati banks.
The author identifies the region's private markets as Astana's distinctive advantage, citing infrastructure, logistics, mining and metals processing, agriculture, energy transition and technology as sectors needing capital that local banks cannot fully supply. The author argues that proximity to deal flow, not custody, is the genuine edge, and suggests international private banks could establish advisory desks in Astana while custody remains abroad.
On talent and research, the author proposes a joint AIFC-Nazarbayev University center for private capital and family enterprise, broader AIFC training covering family-office advisory, succession law, private markets and digital assets, an annual Central Asia Family Wealth Report, and a Central Asia NextGen Family Enterprise Program. The piece closes with a proposed Central Asia Family Capital Summit of 300 to 500 participants. The views expressed are those of the author and do not necessarily reflect the position of The Astana Times.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.