In the Middle East, family-owned businesses dominate in many key industries in the region in terms of the size of the investments or size of the workforce. Yet, it’s predicted that 80% of these family businesses will face the challenge of transferring the succession to next generation over the next 10 years, of which expected movement of the assets value is nearly a trillion US Dollars.
The succession of these companies over the generations requires developing a right internal arrangement to maintain serenity in the family and structure that would cope with external dynamic environment aligning with regulatory framework of the country. It would be worthwhile for family businesses to consult experts in the industry so that they would be well aware on how to smoothly transfer the business control to next generation.
HHS LAWYERS is capable of creating a unique strategy to family businesses in order to foster family harmony and commercial success. Our team of experts with hands-on experience in assisting to manage family businesses would be with you side by side to develop practical strategies and execute them. At continuous basis, we would be monitoring the fitness of the strategy and would assist you promptly regarding new developments and constructive solutions.
Our services include but not limited to:
- Drafting family constitution
- Family business governance system
- Managing legal risks associated with family business investments
- Providing legal support for family businesses
- Structure and restructure of family business