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New Simplified Wills for Business Owners in the UAE

16/9/2018

The Dubai International Finance Centre (DIFC) recently launched a portal through the DIFC Wills Service Centre

The Dubai International Finance Centre (DIFC) recently launched a portal through the DIFC Wills Service Centre, called the Business Owners Will, where business owners may register their Wills for various shareholdings they hold in companies formed in the Emirate of Dubai or the Emirate of Ras Al Khaimah.

A business owner can now submit the registration of his Will covering up to five (5) separate shareholdings that is owned in any free zone and onshore companies. This also include shareholding in the companies registered with Ras Al Khaimah International Corporate Centre (RAK ICC).

Business owners must meet the following requirements:

  1. Must not be Muslim and never have been Muslim;
  2. Must be over 21 years of age;
  3. The shares are held in free zone, Dubai onshore or RAK ICC Companies, and
  4. The companies are situated in the emirate of Dubai or the Emirate of Ras Al Khaimah, and is formed in accordance with UAE laws.
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