Post by : Bianca
Haleem
The Dubai International Financial Centre (DIFC), recognized as the premier financial center in the Middle East, Africa, and South Asia, has partnered with Emirates NBD to bolster resources for family businesses and ultra-high-net-worth individuals (UHNWIs) in the region.
This collaboration aims to develop customized governance strategies, succession planning, tax structuring, and wealth protection services. By joining forces, family enterprises and UHNWIs can tap into tailored educational programs, workshops, and consultancy services that are intended to facilitate enduring business sustainability and legacy preservation.
Currently, DIFC accommodates more than 1,250 family-oriented entities, including renowned private-client firms, signifying its central role in the UAE economy. The leading 120 families at DIFC manage assets surpassing USD 1.2 trillion, with family ventures accounting for close to 60% of the nation’s GDP and providing employment for 80% of the labor force.
The DIFC Family Wealth Centre (DFWC) will utilize the expertise of Emirates NBD Private Banking to meet the dynamic needs of family-owned businesses, offering tailored solutions for succession plans, family governance, and international investments. Essential tools such as family offices, holding structures, and foundations will be employed to enhance asset protection and support wealth progression.
Additionally, the partnership offers direct access to resources and Next Generation training programs, equipping upcoming family leaders to effectively manage their responsibilities whilst upholding their values and business principles.
This alliance establishes Dubai and DIFC as a worldwide center for family enterprises, fostering a forward-thinking environment and organized advisory support for lasting wealth sustainability and innovative business practices.
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