DIFC announces enactment of new DIFC family arrangements regulations

DIFC announces enactment of new DIFC family arrangements regulations

- The regulations replace the previous Single-Family Office regime with a new simplified Family Office regime that can serve one or more families, and eliminates the need to register with the DFSA, DIFC’s independent regulator.

- The regulations were drafted to take advantage of the recognition of family business structures in free zones, such as DIFC, and the authority provided in the newly enacted UAE Decree-Law No. 37 of 2022 (UAE Family Business Law) to keep a special family business register to opt into the requirements and benefits that will be provided for family businesses under the UAE Family Business Law.

- The regulations also establish certification and accreditation programmes for family businesses and their advisors in DIFC to support benefits and incentives planned for family businesses in the UAE under the UAE Family Business Law. The new DIFC Family Wealth Centre will act as a central hub from an advisory and accreditation perspective for family businesses.

Dubai, UAE: Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, has enacted the DIFC Family Arrangements Regulations, following a 30-day public consultation period.

The new regulations provide a firm foundation for the new DIFC Family