A family foundation is a foundation, trust, or other similar institution intended to safeguard and manage the assets and wealth of an individual or family, as specified by the UAE Corporate Tax Law.
A Family Foundation’s main function is often to accept, store, invest, distribute, or otherwise manage funds and assets related to savings or investments for the benefit of specific beneficiaries or to fulfill charitable objectives. If they were carried out directly by the founder, beneficiary, or any other person, they would normally not be considered a “business” or “business activity” for UAE CT purposes.