It's all about family!

DIFC amends it's Family Office Regs

May 11, 2023

a family in an office, low lighting, wood, old school

It’s all about family.

Warm thought!

Yes, and the DIFC feels the same apparently. Family Offices will now be subject to “Family Arrangement Regulations” instead of the now defunct SFO regs.

Also, they would not be considered DNFBPs anymore, and exempt from Financial Service Regulation.

In English please.

It’s now a much smoother process to register and maintain a family office in the DIFC!

That’s great. When can I start?

Hold on. Two points here:

  1. Can only serve one family, with a common ancestor

  2. Minimum net assets of US$ 50 million

Oh. Well, maybe next time.

Thought so. For those who are more serious, we will be coming out with a detailed guide to family office structures in the DIFC, shortly!

The Riffle

Family Offices can now be established in the DIFC without the need of appointing an MLRO and application to the DFSA.