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, We offer legal advice throughout the entire process.
Requirement for Setting up TRUST
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 settler or an administrator.
Our attorneys can help you set up a trust and can also explain the laws and the rights in this matter.