Building on the recent enactment of the UAE Family Business Law and DIFC Family Arrangements Regulations, March 2023 saw the launch of the world’s first dedicated centre for family wealth, the DIFC Family Wealth Centre.
This pioneering initiative is underpinned by a clear and simple objective: bringing together local, regional, as well as global family businesses and UHNW individuals, and providing them with the necessary support and services that facilitate the preservation, growth, and seamless transfer of their businesses and wealth to the next generation.
"Creating a dedicated centre for family wealth on this scale is a momentous step toward sustaining the legacies of family businesses in the UAE and beyond," says Dave Lange, head of our DIFC office. "This initiative recognizes and supports the needs of HNWIs and families, and offers a hub of knowledge, guidance, and accreditation that will support their enduring success."
Family businesses and UHNW individuals can become part of the DIFC Family Wealth Centre and take advantage of the programs that it offers. These programs not only share best practices in critical areas, but also offer the opportunity to earn certifications in fields such as governance and ESG standards. Furthermore, the Centre provides formal education and leadership training for emerging leaders, dispute resolution support, and access to expert advisors across various disciplines relevant to family businesses and HNW individuals.
Recognizing that the fulfilment of such an important mission necessitates a conducive ecosystem with access to top-tier professional services, DIFC has established an accreditation system for professional service providers. Our DIFC office successfully navigated the rigorous application process and received accreditation in September 2023, securing its place among the very initial group of awardees. This prestigious recognition is a resounding testament to our prowess and professionalism within the realm of private client services.
"In an increasingly complex world of wealth structuring and management, this accreditation underscores the depth of our Group’s expertise in assisting family businesses and HNW individuals in preserving their legacies," comments Dave Lange. "It's a reassuring sign for clients that they have a partner with the competence to guide them through the intricate details of today’s financial and regulatory landscapes."
We are highly regarded within the industry for our exceptional proficiency in establishing and overseeing holding structures tailored to the specific requirements of families and UHNWIs. In particular, we can set up and administer family offices in Dubai and assist clients in obtaining the certification from the DIFC Family Wealth Centre.