Vice President and Ruler of Dubai, has established a new centre in the emirate

Dubai,

 Glad to announce that  Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, has established a new centre in the emirate that aims to support and help grow family-owned businesses.

Family businesses play an important role in supporting the UAE economy and account for some of the biggest conglomerates in the country. 

The UAE's new family law that came into effect in January aims to boost the contribution of family businesses to the country’s economy and attract more businesses to set up operations in the Emirates.

The law regulates the ownership of family businesses by defining their capital, how the partner disposes of his share and the mechanism for waiving it, in addition to regulating the right of redemption and evaluation of shares and their categories, as well as the family company's purchase of its shares. 


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