DIFC/ADGM/RAK ICC Foundations
Our expert private client lawyers are highly experienced at advising expatriates and local clients on wealth protection in the UAE.
Having advised clients in wealth structuring strategies for over a decade, you can have confidence that our lawyers will listen to your needs and help you create a robust wealth protection plan under a Foundation that fulfils your objectives. We can help you structure a DIFC Foundation, ADGM Foundation or RAK ICC Foundation to safeguard your assets, in an entity that will not be exposed to probate, divorce or creditors and with beneficiaries not being placed on public record.
What is a Foundation?
In civil law jurisdictions, foundations are used as wealth and succession planning vehicles. They differ from trusts in that they are incorporated as specific legal entities which can hold assets in its own name on behalf of beneficiaries. A Foundation has its own distinct legal personality, it is self-owned and administered by appointed Council.
What is a Foundation used for?
A Foundation is a vehicle which can consolidate property and assets under one legal entity. They are commonly used for:
- private wealth management and preservation
- succession planning
- tax planning
- financial planning
- asset protection
- corporate structuring
- creditor protection
Foundations are also used for charitable purposes.
Are there different types of Foundations?
A Foundation is typically formed by a founder who commits certain assets towards a specified charitable or non-charitable purpose. There are different types of foundations, each based on the objectives behind the creation of the entity:
- objects which are exclusively charitable
- objects which are not charitable
- to provide benefits to persons identified in its Charter or By-laws
- a combination of the above
Each type of Foundation has different governance rules.
Let our lawyers advise you and create a Foundation that reflects your ambitions for wealth protection and preservation. We will ensure that it is appropriately structured to ensure your assets are passed to your beneficiaries according to your wishes.
To book a consultation to discuss creating a DIFC/ADGM or RAK ICC Foundation, please contact us :
Get in touch today to book your complimentary Wills consultation by clicking here with one of our Wills & Estate Inheritance Lawyers. We are happy to help you.