- DMCC Free Zone expands service offering for its members with new license structure for Single Family Offices
- Over 100 delegates including business owners, investors, chartered accountants, asset managers and professional services representatives attend launch event
DMCC, one of the world’s leading commodity hubs for trade and enterprise and the largest and fastest growing Free Zone in the UAE, has launched a new licence structure for Single Family Offices that will enable families to consolidate and transfer wealth across generations.
The DMCC Free Zone also hosted a seminar for its member companies in partnership with Minerva to introduce the new service offering themed ‘Challenges Faced by High-Net-Worth Families: Uses and benefits of Family Offices’. A panel of experts on the topic Mr Derek Le Brun, Director at Minerva Middle East DMCC, Stijn Janssen, Partner at Ernst & Young, and Mr Walid Chiniara, Partner at Deloitte & Touche addressed the many questions raised around the benefits and challenges that comes with the day-to-day operations of a family business.
A Single Family Office centralises the management of a family fortune overseeing asset management, financial plans, philanthropic activities sponsored by a family group and caters to governance of family and family business’ affairs. DMCC’s new licence structure for Single Family Offices will enable family businesses to provide all those services under a DMCC licence for the first time.