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Estate Planning. Service offer

No matter where the shareholder resides, the transfer to the potential heirs of UAE company shares, as well as UAE real estate and UAE bank accounts is regulated by UAE legislation (Federal Law No.5 of 1985 (UAE Civil Code) / Federal Law No.28 of 2005 (Personal Status Law). The procedure for transferring UAE assets will vary significantly in the case of succession by law and in the case of testate succession.

If the deceased died intestate (without leaving a will), then the transfer of assets will be considered by a UAE court in accordance with the UAE Civil Code and sharia.

All the assets of the deceased located in the UAE will be “frozen” until his debts (including fees and penalties) are paid and the court decides to distribute such assets to the heirs.

It usually takes several months to obtain a court decision, and if there is a dispute between the heirs, the procedure can take more than a year.

Therefore, in relation to UAE assets, it is advisable to issue a will recognized by local law.

There are two main options available:

make a will under the law of the country where the potential testator is resident;

make a will in the UAE, for example, by contacting the DIFC Courts Wills Service.

The main drawback of the first option is that a foreign will cannot be executed in the UAE without a will recognition by local court, which significantly increases the time of transferring assets to the heirs. Besides, the court has the right to apply sharia law to resolve succession issues even if a foreign will is in place.

A will registered at the DIFC Courts Wills Service does not require taking further legal action and can be executed in Dubai and RAK without additional administrative procedures.

Such will can be made by any non-Muslim over 21 years of age who has assets in RAK or Dubai.

The following types of will can be registered:

Full Will – covers all types of assets, as well as guardianship of the testator’s minor children;

Guardianship Will – covers guardianship of the testator’s minor children if they are resident in RAK or Dubai;

Property Will – covers real estate located in Dubai or RAK. One will can cover up to 5 real estate properties;

Business Owners Will – covers shares in companies owned by the testator. One will can cover up to 5 companies;

Financial Assets Will – covers bank and brokerage accounts. One will can cover up to 10 accounts.

Will registration fees at the DIFC Courts Wills Service range from AED 5 000 to AED 15 000 (not including 5% VAT) depending on the type of the will.

The testator has the right to revoke or change the will at any time.
(not including VAT)
Supporting intestate (without a will) succession procedure in the UAE, not including government or court fees
from USD 15 000
Drafting a will through the DIFC Courts Wills Service
from USD 5 000
Government fee for registration of a will at the DIFC Courts Wills Service
from AED 5 000 to AED 15 000
Are you interested in the offer?
25000 USD
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