The UAE continues to pursue a forward-thinking approach to improving the regulatory and legislative structures regulating family enterprises in the nation. This vision aims to promote sustainable growth, ensure long-term sustainability, and enhance the sector’s contribution to national economic competitiveness on both regional and global scales.
The Ministry of Economy and Tourism played a pivotal role in enacting the world’s first comprehensive and pioneering law governing family businesses: Federal Decree by Law No. (37) of 2022 Concerning Family Businesses.
The legislation aims to ensure business continuity through legal mechanisms and structured processes, promote economic diversification, facilitate generational transitions, and stimulate development in advanced areas, particularly the new economy.
The Ministry has also issued four ministerial decisions creating a uniform registration for family businesses. This registration presently has over 15 registered family businesses. It also oversees family company charters, share buy-back programs, and the issue of numerous share classes.
In statements to the Emirates News Agency (WAM), Minister of Economy and Tourism Abdullah Bin Touq Al Marri emphasized that the UAE, guided by wise leadership, has prioritized the creation of an advanced legislative environment to promote the growth and sustainability of family businesses in the coming decades.
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