• 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 Wealth Centre. The new regulations offer a framework and hub for global and regional family-owned businesses, ultra-high net worth individuals and private wealth, and further differentiate DIFC as a global hub for leading financial institutions and businesses.

Jacques Visser, Chief Legal Officer at DIFC, said: “For almost 20 years, DIFC has provided a supportive and dynamic environment for global and regional family-owned businesses, ultra-high net worth individuals and private wealth. The introduction of these new regulations marks a significant step forward in our commitment to setting the standards for excellence in the industry. With a focus on transparency, accountability and stability, these regulations provide a comprehensive framework that will allow our clients to operate with confidence, knowing that their interests are protected by the highest level of legal and regulatory oversight. DIFC is proud to be at the forefront of driving positive change and helping family businesses maximise their contribution to our economy."

The Family Arrangements Regulations provide comprehensive guidelines for family businesses holding assets and operating in or from DIFC, in support of their succession and legacy planning for future generations. 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 replace the previous Single-Family Office Regulations and DIFC Single Family Office regime with a new Family Office regime that can serve one or more families, eliminating the requirement for a Family Office to register as a Designated Non-Financial Business or Profession (DNFBP) with the Dubai Financial Services Authority (DFSA), the independent regulator of financial services conducted in or from DIFC. Multi-family offices will, however, require authorisation and licensing by the DFSA if they provide financial services to multiple families by way of business. Single Family Offices currently registered as a DNFBP with the DFSA will only be able to de-register with the DFSA in a manner to be prescribed by the DFSA in due course.

The new regime enables families to manage their businesses and preserve wealth through succession and legacy planning within DIFC, setting a benchmark for good conduct with enforceability across the UAE and beyond.

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 primary objective with the certification regime is for family businesses to adhere to principles of good conduct and governance, and for the accreditation regime to ensure that advisors adhere to high levels of quality and expertise when advising families.

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About Dubai International Financial Centre 

Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and an estimated GDP of USD 8 trillion.  

With a close to 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai. 

DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of almost 30,000 professionals working across over 4,000 active registered companies – making up the largest and most diverse pool of industry talent in the region.  

The Centre’s vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.  

Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations. 

For further information, please visit our website: difc.ae

For media enquiries, please contact:   
Omar Nasro
ASDA’A BCW
omar.nasro@bcw-global.com  

Rasha Mezher | Dubai International Financial Centre Authority  
Consultant, Marketing & Corporate Communications
t-rasha.mezher@difc.ae