(MENAFN- Edelman) May 9, 2024 – Riyadh, Saudi Arabia – Jersey Finance, a leading international financial centre, recently hosted events in Riyadh and Jeddah focused on "Optimising Family Business Structures." The events, held in partnership with global law firm Clyde & Co, brought together experts from Saudi Arabia, the wider Gulf region, and Jersey to provide insights on the legal, financial, and practical considerations around family business holdings.
Key speakers at the events included representatives from LGA Global, Alzawawi Law Firm, Clyde & Co, EY, Walkers, Jersey based firms and other regional advisory firms. The discussions covered a range of topics, such as corporate holding structures, trusts, and other vehicles utilised by family businesses to own assets, invest, and operate. Speakers also explored these structures from the perspectives of Saudi, English, and Jersey law.
Faizal Bhana, Director – Middle East, Africa, and India at Jersey Finance, said: "These events provide a vital platform for experts and professionals to discuss the evolving needs of family businesses in the Gulf region. Navigating the legal, financial, and structural complexities of family enterprises is crucial, especially when it comes to rationalising, consolidating, and restructuring holdings.”
He added: “Jersey firms have been working with and advising corporates and families across the Middle East, and have developing trusted relationships, by helping them achieve their desired results.”
Dr. Basma Al Zamil, Advisor at LGA Global, emphasised the importance of maintaining a harmonious family dynamic while addressing complex issues. She said: "Family businesses face unique challenges, and it is essential to find the right balance between legal, financial, and practical considerations.”
The events were particularly relevant to the Saudi-based professional advisory community, family offices, families, and other key players in the Gulf region's private wealth and family enterprise ecosystem. Participants gained valuable insights and potential solutions to the challenges surrounding family business structures, as well as a better understanding of how to optimise these structures in legal and financial ways.
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