The UAE has recently issued the family companies law No.37 of 2022, aiming to regulate family companies by establishing a comprehensive and facilitated legal framework to regulate the ownership and governance of family companies in the UAE and facilitate their intergenerational transition.
This new law marks a key milestone and a monumental shift in the ability of family businesses to navigate matters of ownership, governance and succession through legal frameworks that are designed to enhance their sustainability, longevity, competitiveness, and agility.
This session will help family businesses understand how the law supports the long-term sustainability and stability of family-owned businesses, as the family grows, and succession inevitably occurs, as well as the role a well drafted family constitution can play in enabling family business sustainability .
Key Learning Outcomes:
Participants will develop a strong understanding of how to leverage a family constitution within the framework of the new Family Companies’ Law in the UAE and how the law impacts those businesses and creates new opportunities with regards to succession, formalization of the family charter and different classes of shares, and how to leverage the changes in the law to address growth and bolster the legacy of the businesses.
- Yasmine Omari, Director – EY Private