The first Law Update of 2024 is here, and our first focus of the year spotlights Healthcare and Lifesciences, a sector that is undergoing significant growth and development across the MENA region.
Our focus provides an insight into some of the most important regulatory updates across the region, such as the UAE’s groundbreaking law on the use of human genome, Kuwait’s resolution on nuclear and radioactive materials, the new regulations for healthcare services in Qatar, Egypt’s healthcare regulatory framework, and the impact of the Saudi Civil Transactions Law on the healthcare and life sciences sector … and there is so much more!
Beyond the healthcare pages our lawyers share with you multi-sector insights where you will discover articles on Dubai’s DIFC regulatory framework for startups, Bahrain’s commercial agencies law, and we also shed light on Kuwaiti civil code and the advantages of setting up a joint stock company in Saudi Arabia.Read the full edition
The DIFC has announced the establishment of a Family Business and Private Wealth Centre to act as a hub for global and regional family-owned businesses, UHNWIs and private wealth. To be officially launched on 1 September 2022 the centre’s offering will provide a range of services to family owned businesses to assist them in all aspects of their legacy and succession planning; from advisory and education services to networking events, the centre will capitalise upon and further develop the DIFC’s position as the region’s leading centre for private wealth.
The initiative aligns with the UAE Government’s commitment to support UAE family business and to provide the legislative and regulatory tools necessary to ensure the continued success of the private sector, as it is integral to the health of the wider UAE economy.
Owners of the family business in the UAE and the wider region face a unique set of challenges in ensuring that the concentration of private wealth is stewarded successfully and the additional support that the Family Business and Private Wealth Centre will provide to owners and their families will greatly enhance the ability for owners to overcome such challenges.
Commenting on the new initiative, Essam Al Tamimi, Chairman of Al Tamimi & Company, said:
Al Tamimi & Company’s Family Business practice works regularly with the DIFC in ensuring that the legal tools and legislative flexibility that it provides are employed by families in the region to the optimal extent. For over a decade our market leading team have advised families on the best means on ensuring business continuity and succession planning, increasingly through the utilisation of trusts, foundations and corporate structures in the DIFC; the flexibility of such arrangements being key in providing the bespoke solutions that our clients require. At any stage in a family owner’s thought process we provide sensitive and practical advice in ensuring that an owner’s future legacy is secured.