The Dubai International Financial Centre Wills Service Centre (“DIFC WSC”) is a public entity of the Dubai Government and an initiative established under the Jurisdiction of the DIFC Courts. The DIFC WSC is an estate planning mechanism which allows non-Muslim expatriates to implement a Will governing how their local UAE assets and worldwide assets should be distributed on death. The DIFC WSC also allows testators to implement Guardianship provisions in respect to any minor children (under the age of 21) who are habitually resident in the Emirates of Dubai and/or Ras Al Khaimah.
Andrew Lyons and Victoria Smylie are both registered Wills Draftsmen with the DIFC WSC, and Victoria Smylie is an appointed member of the DIFC Wills Working Group.
There are currently 5 types of Will available at the DIFC WSC depending on an individual’s personal circumstances and assets:-
- Full Will – covers all assets in an individual’s sole or joint name which are situated in the UAE or worldwide at the time of their death. Guardianship provisions can also be included.
- Guardianship Will – Guardianship appointments only, both interim and permanent.
- Property Will – Real estate property only for up to 5 properties situated in the UAE.
- Financial Assets Will – up to a maximum of 10 separate bank or brokerage accounts (or a share in up to 10 accounts) registered within the UAE.
- Business Owners Will – up to a maximum of 5 separate shareholdings in any free zone or UAE onshore company situated in the UAE.