Page 51 - MOE ENGLISH PR REPORT - MAY 2025 (Part 1)_Neat

Press Release

Alia Al Mulla, Head of the Family Business Restructuring Division and Legal Expert at
Habib Al Mulla & Partners, stated: “We take great pride in this milestone achievement, which
reflects our deep commitment to serving our clients’ interests and promoting the sustainability of
family businesses in the UAE. This success embodies the fruitful collaboration between our client,
Sharafi Group Investments L.L.C., and our outstanding team. It also underscores the pivotal role
and continued efforts made by the Ministry of Economy in fostering the growth and long-term
viability of family businesses across generations by establishing a flexible and effective legal
framework that meets national economic needs and aligns with international best practices.”

She added: “The registration of the first family business in Dubai under this law marks the
beginning of a new phase for family enterprises in the emirate. It delivers a clear message that the
UAE is confidently advancing toward a comprehensive legal system that ensures business stability,
reinforces governance, and empowers future generations.”

She added: “The registration of Sharafi Group Investments L.L.C. encourages family businesses
across the country to leverage the benefits of the Family Business Law, which offers advanced
legal protection and ensures the safe and sustainable transfer of wealth and business between
generations of family members.”

The Ministry of Economy had launched the Unified Family Businesses Registry pursuant to
Ministerial Resolution No. 109 of 2023, with the aim of establishing a unified and comprehensive
database encompassing all information related to family businesses registered with the Ministry in
the country. In addition, the Ministry has identified a set of specific criteria and conditions
governing the registration process of family businesses.

The Ministry explained that the registration request for a family business must be submitted
through the relevant licensing authorities that previously issued the company’s economic license.
These authorities are responsible for forwarding the application to the Ministry of Economy for
review and verification to ensure its compliance with the regulations and conditions set out in the
Family Business Law and its related decisions. The Ministry then proceeds to register the business
in the registry.

The Ministry of Economy has held a series of meetings with various government entities, including
chambers of commerce and industry, licensing authorities within departments of economic
development, and free zones, aimed at enhancing coordination and collaboration in facilitating the
registration process for family businesses in the unified registry. These efforts address the needs
of family businesses seeking to register.

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