Middle East News 247

Sheikh Mohammed outlines new law for family-owned businesses in Dubai

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has issued a new law to regulate family-owned businesses in Dubai.

The law pertains to matters of tenure of ownership, wealth distribution, and the role of government entities in the formation of family-owned enterprises. The newly issued Law No. (9) of 2020 states that…

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