New trusts legislation introduced in the UAE is another positive step forward for the wealth management sector in the region, according to the head of trust service provider JTC’s Dubai office.
The new UAE Trust Law announced earlier in February puts in place new mechanisms for managing wealth and also encourages the establishment of charitable trusts.
One of the key benefits will be that family-owned businesses can use trusts for effective succession planning purposes.
This is according to 2020 eprivateclient Top 35 Under 35 Naro Zimmerman...