Dubai Department of Economy and Tourism and Dubai Centre for Family Businesses launch Dubai family business guidebook

• Sahia Ahmad: “Family businesses are a bedrock of Dubai’s economic progress, and are playing a vital role in achieving the goals of the Dubai Economic Agenda, D33, which aims to double Dubai’s economy in the decade up to 2033.”
• Khalid AlJarwan: “The launch of the guidebook comes as part of the Dubai Centre for Family Businesses’ commitment to promoting the adoption of effective governance among family businesses and encouraging the implementation of optimal administrative and legal frameworks.”

The Dubai Department of Economy and Tourism has partnered with the Dubai Centre for Family Businesses, which operates under the umbrella of Dubai Chambers, to launch a new Dubai family business guidebook. ‘Family Businesses in the Emirate of Dubai: A Guidebook,’ is a comprehensive resource designed to outline ways to protect the wealth of family businesses in the emirate and ensure their sustainability, while also supporting the growth of their operations both now and in the future.

The guidebook was launched during the first event in the centre’s ‘Knowledge Series’ initiative, which was hosted at Dubai Chambers’ headquarters in collaboration with the Dubai Department of Economy and Tourism under the theme ‘Building a Lasting Legacy: The Future of Family Businesses in Dubai.’

The session featured panel discussions exploring strategies to preserve the legacy of family businesses and enhance their capacity for innovation. Participants also reviewed key aspects of the UAE Family Business Law, including the mechanisms and requirements for registering companies as family businesses in Dubai.

The guide offers a detailed overview of various structural options for family businesses and addresses key areas including corporate governance, family offices, wealth planning, leadership succession, real estate ownership, and tax considerations. It also covers topics such as conflict management and resolution, government initiatives supporting family businesses, the role of philanthropy and its significance for family enterprises, digital transformation, and the procedures for registering family businesses in Dubai.

Sahia Ahmad, CEO, Regulatory Policy and Governance, at the Dubai Department of Economy and Tourism, said: “Family businesses are a bedrock of Dubai’s economic progress, and are playing a vital role in achieving the goals of the Dubai Economic Agenda, D33, which aims to double Dubai’s economy in the decade up to 2033. They create jobs, invest in local markets, and support long-term business activity, with the generational nature of family businesses providing stability and enhancing our global competitiveness. The launch of this new guidebook demonstrates our commitment to supporting family businesses through targeted initiatives, regulatory enhancements, and strategic partnerships. We would like to thank Dubai Chambers and our esteemed partners for their continued collaboration, support, and contribution towards advancing the role of family businesses in shaping Dubai’s economic future.”

Khalid AlJarwan, Vice President of Commercial and Corporate Services at Dubai Chambers, commented: “Family businesses play a pivotal role in driving the growth of the local economy and are a cornerstone for the development of diverse sectors. The launch of this new guidebook during the first ‘Knowledge Series’ session reflects the Dubai Centre for Family Businesses’ commitment to promoting the adoption of effective governance and the implementation of optimal administrative and legal frameworks. This initiative will contribute to elevating business performance and ensuring sustainable growth for family enterprises across generations.”

Established under the umbrella of Dubai Chambers in May 2023, the Dubai Centre for Family Businesses is dedicated to ensuring the sustainability and growth of family businesses in the emirate. The centre plays a vital role in developing this vital sector and enhancing its economic contribution in support of Dubai’s future development plans.

‘Family Businesses in the Emirate of Dubai: A Guidebook’ can be accessed by visiting https://fblibrary.dubaichamber.com/resource/family-businesses-in-the-emirate-of-dubai-guidebook/