Federal Decree-Law No (19) regarding Trusts was issued to support the asset management sector in the country, provide new mechanisms for managing family businesses and assets, and encourage charitable trusts. All members of society, whether natural or legal, as well as family-owned companies, can benefit from this law.
This Decree-law majorly focuses on Private trust – these trusts are set up for encouraging them to perform different forms or ways of security trading that are acceptable in market which includes trading of securities, acquisition and investments etc.
These trusts are set up to establish pension funds and availing benefits for the beneficiaries in return of regular contributions paid to trust.
This will majorly benefit family owned companies as they are able to plan on long term basis and set acquire its position in the market . They help in managing not just the business but also help in managing family property.
Importance of Federal Decree-Law No (19)
- Enhances the efficiency of financial legislation and policies.
- Provides a competitive environment in UAE.
- Protect capital and invest it within the country.
- Draw foreign investments and provide a safe, business – friendly environment.
- Diversify instruments to protect assets.
Spectrum has team of professionals to serve you with financial advisory services, we embrace your growth for more information we can visit your office and advise on any improvements that are required with respect to compliance of this law and financial advisory or you can visit Spectrum office to understand more about the same.
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