Set up a Trust in Dubai
Set up a Trust in DubaiUpdated on Monday 31st July 2017
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The tax-free environment in Dubai is the main reason why foreign entrepreneurs decide to establish their activities here. In order to protect their assets, local or foreign citizens can choose to set up trusts in Dubai through the Dubai International Financial Centre and its regulations in this matter. For a better understanding of the rules when setting up a trust in Dubai, it is recommended to talk to one of our lawyers in Dubai who can offer legal advice throughout the entire process.
Requirements for setting up a trust in Dubai
Individuals can set up charitable or not-charitable trusts, express trusts, and also protective trusts, under the strict supervision of the Financial Services Authority in Dubai, where the residence terms are not taken into consideration. A DIFC (Dubai International Financial Centre) trust does not require a certain capital, as a starting point, in order to be registered, and 100% foreign ownership is allowed. It is good to know that trusts in Dubai can be better controlled than the registered wills. Furthermore, trusts in Dubai are tax-free and are highly protected, regardless of the Sharia Law succession rules. A Dubai trust can be set up by will or by drafting a codicil which is known as a deed of trust made by a settlor or an administrator.
Please remember that our attorneys in Dubai can help you set up a trust and can also explain the laws and the rights in this matter.
Why you should set up a trust in Dubai
A trust in Dubai allows foreigners with residence in the Emirates to have a clear idea about his/her wealth which at a certain point is going to be passed on in accordance with terms mentioned. Investors can create trusts in Dubai as part of their investment strategies, especially if they are interested in opening companies in the Emirates.
If you are a foreign investor who wants to set up a trust in Dubai, we invite you to solicit complete guidance and also legal support in this matter from our law firm in Dubai by contacting us.