Family Trusts about to land in the UAE (June 2008)

For years wealthy families in the United Arab Emirates (UAE) have used family trusts to hold “off-shore” assets. However, “off-shore” trusts are generally not suitable structures to hold “onshore” assets. In a major announcement made in June 2008, Dubai International Financial Centre (DIFC) now proposes regulations establishing a clear legal framework and process to facilitate the establishment of “single family” trusts in the UAE, which would be suitable to hold “on-shore” UAE assets (both within and outside the DIFC).

The 4th Annual Private Meeting for Family Businesses (March 2008)

The 4th Annual Middle East Families in business conference was held on March 3 & 4 at the Ritz Carlton in Bahrain. The conference was supported by the Bahrain Financial Services Board and the Bahrain Family Business Association.