Ministry of Economy announces registration of first batch of national companies in the Unified Family Business Registry

Registry membership ensures business continuity and investments across generations

The Ministry of Economy announced the registration of the first batch of national companies in its Unified Family Business Registry, pursuant to Federal Decree-Law No. (37) of 2022 concerning family businesses. The move aligns with continuing national efforts to enhance the growth and sustainability of family-owned companies in the UAE, promote diversification across various commercial and economic sectors - particularly the new economy - and reinforce the UAE’s position as an attractive destination for family businesses from around the world. The announcement was made during an event organized by the Ministry in Dubai, in the presence of H.E. Abdulla bin Touq Al Marri, Minister of Economy.

The Ministry revealed that the companies that joined the registry include Sharafi Group Investments, Al Saud Holding, Al Soor Investment, SBR Investment, Al Rida Investment and Development, Manal Family Office Holdings, and Abdullah Al Mazrouei Investment.

H.E. Bin Touq stated that family businesses are a key pillar in driving national economic growth and sustainability, and in supporting the UAE’s transition to a knowledge- and innovation-based economic model. He noted that the UAE has placed considerable emphasis on establishing a sound legislative and regulatory environment to promote the development and long-term sustainability of family businesses in accordance with international best practices. These include the issuance of a comprehensive federal law and four ministerial decisions aimed at improving governance and ensuring the continuity and competitiveness of family enterprises - all part of a clear vision to establish the UAE as a leading destination for local, regional, and international family businesses.

The Minister of Economy added: "Today, we celebrate the registration of the first batch of national companies in the Ministry’s Unified Family Business Registry, a key step toward enhancing the business environment for family-owned enterprises and safeguarding business continuity and investment across generations. The UAE’s Family Business Law regulates matters such as capital structure, transfer mechanisms, redemption rights, share valuation and categories, and provisions for companies to buy back their own shares." H.E. encouraged companies to take advantage of the registry's benefits, particularly the smooth intergenerational business transition within a clear and flexible legal framework.

H.E. Sultan Rashed Al Dhaheri, owner of SBR Investment, stated: "For over 60 years, I have devoted my efforts to building a strong family and business entity that carries our family name and reflects our core values of hard work, commitment, and social responsibility. Today, registering our family companies in the UAE's unified business registry represents a natural progression of our journey and ensures continuity for future generations.”

“We're proud that our company is one of the first family businesses to be officially registered in the UAE's Unified Family Business Registry, demonstrating our strong commitment to actively participating in the development of a leading institutional model for such businesses in the country." He highlighted the legal framework established by the UAE to govern family businesses, which includes clear mechanisms for managing family member relationships, enhancing confidence and trust, supporting internal harmony, and contributing to the long-term sustainability of family enterprises.

Abdulla Sharafi, CEO of Sharafi Group Investments, said: “Our decision to register Sharafi Group Investments as a family business in the official registry originates from our belief in the comprehensive legal framework established by the law, which ensures the continuity of our business across generations and protects the interests of all family members. This step has delivered tangible benefits in terms of governance, guarantee of intergenerational continuity, and enhanced transparency in decision-making. The law has also played a role in addressing diverse challenges faced by family businesses, particularly regarding succession planning and dispute resolution.”

“We place our full confidence in the forward-looking vision of our wise leadership and in this exceptional legislation that reaffirms the UAE’s commitment to supporting the sustainability of family businesses, which are a cornerstone of the national economy. We encourage all Emirati family-owned businesses to leverage this leading initiative to secure their prosperity and continuity to future generations,” he added.

Alia Al Mulla, Head of the Family Business Restructuring Division and Legal Expert at Habib Al Mulla & Partners, stated: “We take great pride in this milestone achievement, which reflects our deep commitment to serving our clients’ interests and promoting the sustainability of family businesses in the UAE. This success embodies the fruitful collaboration between our client, Sharafi Group Investments L.L.C., and our outstanding team. It also underscores the pivotal role and continued efforts made by the Ministry of Economy in fostering the growth and long-term viability of family businesses across generations by establishing a flexible and effective legal framework that meets national economic needs and aligns with international best practices.”

She added: “The registration of the first family business in Dubai under this law marks the beginning of a new phase for family enterprises in the emirate. It delivers a clear message that the UAE is confidently advancing toward a comprehensive legal system that ensures business stability, reinforces governance, and empowers future generations.”

She added: “The registration of Sharafi Group Investments L.L.C. encourages family businesses across the country to leverage the benefits of the Family Business Law, which offers advanced legal protection and ensures the safe and sustainable transfer of wealth and business between generations of family members.”

The Ministry of Economy had launched the Unified Family Businesses Registry pursuant to Ministerial Resolution No. 109 of 2023, with the aim of establishing a unified and comprehensive database encompassing all information related to family businesses registered with the Ministry in the country. In addition, the Ministry has identified a set of specific criteria and conditions governing the registration process of family businesses.

The Ministry explained that the registration request for a family business must be submitted through the relevant licensing authorities that previously issued the company’s economic license. These authorities are responsible for forwarding the application to the Ministry of Economy for review and verification to ensure its compliance with the regulations and conditions set out in the Family Business Law and its related decisions. The Ministry then proceeds to register the business in the registry.

The Ministry of Economy has held a series of meetings with various government entities, including chambers of commerce and industry, licensing authorities within departments of economic development, and free zones, aimed at enhancing coordination and collaboration in facilitating the registration process for family businesses in the unified registry. These efforts address the needs of family businesses seeking to register.