DIFC Wills Cover RAK Assets

difc_rak_wills

The DIFC Wills and Probate Registry an initiative of the government of Dubai, has now been extended to include the Emirate of Ras Al Khaimah (RAK). Therefore non-Muslims can now include assets (i.e. property, business, bank accounts) held in RAK as well as guardianship provisions in their DIFC Will. The DIFC Wills and Probate Registry allows non-Muslims to have the freedom to decide what happens to their assets and children upon their death giving them the peace of mind that Sharia law will not apply.

On 12 December 2016, the Dispute Resolution Authority in the DIFC signed a series of legal agreements with the Ras Al Khaimah Courts and other RAK government authorities allowing DIFC Court judgments and orders, to be directly enforced by the Ras Al Khaimah Courts. This will allow for direct enforcement of DIFC Courts probate orders covering the wills of non-Muslim residents and investors with assets in the emirate of RAK.

The agreements were signed at the Al Dhait Palace and witnessed by His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council and Ruler of Ras Al-Khaimah.

His Highness Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, commented that as a result of these agreements:

“Individual residents can have even greater trust that their property and assets will be secure here.”

This welcomed development should encourage individuals, business owners or investors with assets in RAK to prepare a Will as executors will be able to distribute assets to beneficiaries, subject to enforcement orders issued by the Courts of RAK.

Chairman of RAK Courts Department, Chancellor Ahmed Mohammed Al Khatri, has stated: “As more people are choosing to set up businesses, work and live in Ras Al Khaimah, using the successful DIFC Wills and Probate Registry system will increase their confidence and commitment, allowing them to put down roots and build happy lives and a thriving business.”

Due to our expertise and knowledge of wills and inheritance matters in this region, we are pleased to have participated in the working group involved in formulating and contributing to the Wills and Probate Registry Rules. TWS has successfully registered a high volume of DIFC Wills to date.

Our Legal Consultants are authorized Will Draftsmen, as per the requirements of the DIFC Wills and Probate Registry.

To obtain more information about DIFC Wills which now include RAK assets, please contact one of our experienced Wills & Inheritance lawyers. Email us at info@twslegal.ae or call +971 4 448 4284.

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