Dubai enacts new rules for ultra-wealthy and family businesses operations – The National

Dubai enacts new rules for ultra-wealthy and family businesses operations – The National

Dubai International Financial Centre has finalised regulations to enable more family-owned businesses to start operating from its Global Family Business and Private Wealth Centre which opens next month.

DIFC, one of top financial centres in the Middle East, Africa and South Asia (Measa), has enacted DIFC Family Arrangements Regulations, after a 30-day public consultation period, it said in a statement on Wednesday.

The new regulatory framework provides a “firm foundation” for the new wealth centre. It will govern how UAE, regional and global family-owned businesses, and ultra-high net worth individuals (UHNWI) and private wealth offices operate from the DIFC.