Page 241 - MOE ENGLISH PR - APRIL 2024

5/1/24, 2:40 PM DIFC emerges as premier global hub for family businesses
The Centre is further fortified by its work with the Innovation Hub, which supports next
generation owners remain at the forefront of technological mechanisms and applications.

Benefitting from DIFC’s internationally recognised legal system, which is based on English

common law and includes a variety of structures and regimes, family businesses also gain
direct access to accredited advisors, networking opportunities, educational programmes,

and a wide range of experiential events, all within the Centre’s diverse and cosmopolitan

community, which includes some of the city’s top eateries, venues, cultural centres, and
lifestyle destinations.

Recently, DIFC Family Wealth Centre and STEP Arabia signed an MoU to foster the
common interests in relation to guiding family businesses on their journey to achieve

multi-generational success, and to enhance the know-how of advisers to achieve that

purpose.

As a societal mechanism for wealth distribution, the DIFC Family Wealth Centre is also a

win for the local economy since family businesses are responsible for 60 percent of the
UAE’s GDP, 80 percent of its workforce and 90 percent of its private companies.

UAE
MIDDLE
EAST
WEALTH
ECONOMY

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