Asset Protection Planning Services In Uae And The Gcc

ASSET PROTECTION
PLANNING IN UAE
& THE GCC

EXPERT CONSULTATION

ASSET PROTECTION
PLANNING IN
DUBAI, ABU DHABI
& THE UAE

Our Asset Protection Planning Service in Dubai, Abu Dhabi and the UAE is part of our tax consultancy services in Dubai, Abu Dhabi and the UAE.

We provide end-to-end and tailored made solutions to successful families related to acquisition, governance, risk management and preservation of their businesses and wealth through generations. With over 50 years of combined international experience our private clients team offers a winning combination of protection techniques for private individuals and corporate clients including:

  • Solutions to ensure confidentiality in high-standing jurisdictions
  • Advice on asset protection plan prior to investment
  • Assets and business protection planning to preserve wealth in the event of bankruptcy,  divorce or incapacity
  • Safeguard assets for younger generations
  • Governance structuring through generation and sharia law mitigation
  • Estate and gift tax planning
  • Business succession planning
  • Provision of fiduciary services

Set-up of asset protection vehicles including trusts, foundations, companies, fund etc.

POTENTIAL ISSUES WITH IN-NAME OWNERSHIP

Probate related issues (following death of Patriarch):

  • Lengthy and complex procedure involving the UAE Courts
  • Possible unfavorable distribution to direct heirs e.g., spouses, daughters, etc.
  • Potential dispute among heirs (children, siblings, wider relatives)
  • Dilution of the value of assets that have built up over many years
  • Freezing of bank accounts of Patriarch – Personal and businesses

No asset protection

  • Any asset held in personal names are readily accessible to creditors, governments or other family members who might otherwise have claims against the Patriarch.
Asset Protection And Estate Planning Uae

No tax planning

  • The Patriarch may be subject to tax on his worldwide wealth (include UAE based assets) when/if relocating to another country.
  • Any subsequent transfer of UAE assets, once the Patriarch and his descendants relocate to another country, might give rise to inheritance tax and/or wealth transfer tax.

No Privacy

  • The name of the Patriarch directly appears as owner on all official documents (e.g., title deed, licenses, etc.) and on the registers of registrars of companies, land registries, etc.

SOLUTIONS OFFERED BY A FOUNDATION

  • A Foundation allows the Patriarch to set out his wishes on what is to happen after his/her demise.
  • Effective Succession planning – Foundations provide assurance that the assets (or their benefits) will be distributed as per the wishes of the founder under the terms of the foundation.
  • Protection of family assets and heirlooms – a foundation’s assets, if properly structured, are not readily accessible to creditors, governments or other family members.
  • Establishes a legacy – through a foundation, the founder’s goals continue in perpetuity.
  • Privacy – The beneficiaries of a foundation are private and so the founder’s family wealth can be managed more discretely. This provides its own benefits including:
Asset Protection And Estate Planning Solutions Offered By A Foundation
    • reduction of the risk of claims/judicial actions from third parties against the founder and their family to extort a monetary benefit/settlement;
    • better bargaining power when negotiating business deals and/or acquiring assets;
    • reduced risk of being targeted and befriended by unscrupulous individuals in order to access their wealth; and
    • less urgency for potentially uncomfortable discussions around pre-nuptial agreements for the founder or heirs.
  • Improves family governance – foundations provide an effective corporate governance framework (similar to a company or single-family office), which allows for wealth to be managed in a professional manner to benefit the founder and their family.

 

We provide end-to-end and tailored made solutions to successful families related to acquisition, governance, risk management and preservation of their businesses and wealth
through generations. With over 50 years of combined international experience our private clients team offers a winning combination of protection techniques for private individuals and
corporate clients including:

  • Solutions to ensure confidentiality in high-standing jurisdictions
  • Advice on asset protection plan prior to investment
  • Assets and business protection planning to preserve wealth in the event of bankruptcy, divorce or incapacity
  • Safeguard assets for younger generations
  • Governance structuring through generation and sharia law mitigation
  • Estate and gift tax planning
  • Business succession planning
  • Provision of fiduciary services
  • Set-up of asset protection vehicles including trusts, foundations, companies, fund etc.

Please visit this page for information on Asset Protection Planning Services in Saudi Arabia

CALL US ON: +971 4 878 6240
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Dubai+971 4 878 6240 Riyadh+966 56 865 2329