Flexible Succession Planning for MENA Families Using Cayman and BVI trusts
Raymond Davern, Dennis Ryan and David Pytches
Conyers Dill & Pearman
Raymond Davern, Dennis Ryan and David Pytches look at the ways in which the various types of trust products in each jurisdiction may be of interest to MENA families as succession planning vehicles.
Much of the wealth in the MENA region is held directly in the hands of private individuals or through closely-held companies. Recent articles suggest that more than 80% of businesses in the Middle East are family-run or family-owned, with an estimated US$1 trillion expected to be handed down to the next generation within the next five to 10 years, and with family businesses controlling over 90% of commercial activity in the region.