{"id":6694,"date":"2022-01-26T16:13:35","date_gmt":"2022-01-26T12:13:35","guid":{"rendered":"https:\/\/buzzzing.com\/?p=6694"},"modified":"2022-02-15T09:30:38","modified_gmt":"2022-02-15T09:30:38","slug":"good-news-for-family-businesses-new-law-to-boost-family-run-companies","status":"publish","type":"post","link":"https:\/\/theflint.me\/?p=6694","title":{"rendered":"Good news for family businesses! New law to boost family-run companies"},"content":{"rendered":"\n<p>Without a doubt, the UAE is the entrepreneurial family\u2019s playground. With thousands of family businesses operating in the emirates, they form the backbone of the business community.<br>And now, a new law further strengthens the operations of Abu Dhabi based family businesses.<br>President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a new family business ownership governance law that empowers family business and streamlines the transition to successive generations.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">In his capacity as Ruler of Abu Dhabi, Khalifa bin Zayed has issued a law regulating family business ownership to further enhance the sector\u2019s contribution to the local economy and ensure smooth transition to successive generations. <a href=\"https:\/\/t.co\/vowdLDnFOr\">pic.twitter.com\/vowdLDnFOr<\/a><\/p>&mdash; \u0645\u0643\u062a\u0628 \u0623\u0628\u0648\u0638\u0628\u064a \u0627\u0644\u0625\u0639\u0644\u0627\u0645\u064a (@admediaoffice) <a href=\"https:\/\/twitter.com\/admediaoffice\/status\/1485960774992465929?ref_src=twsrc%5Etfw\">January 25, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"everything-the-new-law-delivers\">Everything the new law delivers<\/h2>\n\n\n\n<p>To evolve the legislative ecosystem for such business, the law aims to boost the sector\u2019s contribution to the larger economy while also being sustainable.<br>The new family business ownership governance law empowers owners of family businesses to:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Prevent selling of shares or dividends to individuals or companies outside the family<\/li><li>Require prior approval from family partners before a shareholder sells their respective equity stake to a non-family member<\/li><li>Issue family-owned shares with weighted voting rights<\/li><li>Prevent the pledging of family-owned businesses as encumbered assets to avoid expropriation<\/li><\/ul>\n\n\n\n<p>However, the law does not apply to family-owned businesses, where non-family members own more than 40 per cent of shares.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Without a doubt, the UAE is the entrepreneurial family\u2019s playground. With thousands of family businesses operating in the emirates, they form the backbone of the business community.And now, a new&#8230;<\/p>\n","protected":false},"author":2,"featured_media":7116,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"spay_email":"","footnotes":""},"categories":[37],"tags":[],"class_list":{"0":"post-6694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"jetpack_featured_media_url":"https:\/\/mlybgetq2uip.i.optimole.com\/tf1vXHs-7McGysn9\/w:auto\/h:auto\/q:auto\/https:\/\/i0.wp.com\/theflint.me\/wp-content\/uploads\/2022\/01\/abu-dhabi-main.jpg?fit=700%2C500&ssl=1","jetpack-related-posts":[{"id":5972,"url":"https:\/\/theflint.me\/?p=5972","url_meta":{"origin":6694,"position":0},"title":"New law: Now, UAE workers will get 30 days of paid leave","date":"January 13, 2022","format":false,"excerpt":"Here's some news to make your 2022 better and cheer you up. 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