In this article, we will look at issues related to asset inheritance and business in Dubai, as well as asset protection. New trust laws have recently appeared in Dubai and we will look at their main aspects.
Article 7 of the UAE Constitution states that Sharia forms the basis of the UAE's legal system. Sharia also directly regulates inheritance in the absence of a will as part of UAE Muslim policy in accordance with Article 17 of Federal Law 5/1985.
However, this legal framework can create difficulties in recognizing some of the arrangements that families can make for a family-owned business. Whether an individual chooses a local or offshore jurisdiction to regulate their succession plan, having expert legal guidance on Shariah aspects can ultimately affect whether his family gets what they would like them to get or not.
Inheritance is a complex Islamic legal issue and Shariah inheritance rules automatically apply the inheritance distribution formula. Moreover, this applies both to commercial assets, such as shares in a family business, and to personal assets.
In the UAE, these rules are reflected in Federal Law 28/2005 (Personal Affairs Law). In some cases, the principles of Sharia, which should preserve and distribute capital fairly across generations, may actually conflict with the desired patterns of family succession planning.
Wills in the UAE
In accordance with the Shariah law of inheritance, a will will be valid and applicable only to the third part of the total inheritance and only for specific persons, provided that all outstanding debts have been settled.
If a will is contrary to Sharia law, then it cannot entail any legal consequences.
As a result, arrangements that try to prevent share transfers between different generational lines, and in particular try to keep shares within the family lineage, are likely to be open to challenge.
This can create uncertainty when choosing the most appropriate legal framework. For example, in the event of an accident and the death of a family member who is a shareholder of the family business, some of his shares will be transferred under Sharia law to his spouse, who is not a family member from the ancestral line, and who can decide to remarry or may have children of her own. which will create more complex asset transfer scenarios. As a result, it is quite realistic that the company's stock could leave the family very quickly. In such circumstances, and to avoid such a scenario, one possible approach is to introduce buyback clauses in the company's incorporation documents, which would mean that the shares would have to be sold back to family members from the ancestral line at fair value.
You can own assets around the world through UAE offshore companies. We offer you assistance in registering an offshore company in the UAE in Ajman, as well as assistance in opening an offshore company in the UAE in Ras Al Khaimah. These companies can be opened remotely without a personal presence in the UAE.
Do you have a question how to move to the UAE from Moscow for permanent residence? We can give you the answer. Please contact us with any questions, we will help you immigrate to the UAE, tell you about the peculiarities of moving and living in an eastern country, help with paperwork so that your immigration process to the UAE will bring only positive emotions.
As a rule, citizens of other states who move to the UAE are not given citizenship. It is usually obtained by origin. A foreigner can legalize his/her residence in the Emirates if he receives a resident visa.
So, how to move from Moscow to permanent residence in the UAE? Basic ways:
Buy real estate. If a Moscow resident wants to move to the UAE, then he can do this if he buys apartments in the Emirates worth more than $ 270,000, and will also have a salary or business income above $ 2,700. In this case, an immigrant from Moscow will receive a resident visa and will be able to stay in the United Arab Emirates.
Marriage with an Emirati. Some Emirati citizens marry foreign women who are of a faith other than Islam. In fact, the Koran does not prohibit doing this, but usually either very wealthy Emiratis or very poor people marry citizens of other states. In the event of marriage, such a family will be deprived of many state privileges. If a child is born in a marriage, he/she will become a citizen of the UAE. His mother will not have the right to travel with the child to another country until she receives the appropriate permission from the child's father. In the event of a divorce, the children are more likely to be given to their father than to their foreign mother. Often, after divorce, women remain in the United Arab Emirates in order to be able to see their child. As for men from Moscow, they can also marry a citizen of the Emirates, only if she is allowed by the Naturalization Department.
Employment in the UAE. A resident of Moscow who is looking for a way to move from Moscow to permanent residence in the UAE can take advantage of this opportunity and get a job in the Emirates. When employed in the UAE, an immigrant from Moscow will receive a resident visa. He can also receive material assistance from his employer, in the form of paying for air travel, medical insurance and housing. This should be checked with the employer in advance.
Study in the Emirates. A resident of Moscow planning to move to the UAE can enter an Emirati university and obtain a student visa to legalize his stay in the Emirates. This visa does not provide an opportunity to get a job in the UAE, therefore, when going to study in the Emirates, you must have a certain amount of money with you. After graduating from a UAE university, an immigrant from Moscow can get a job in the Emirates, or leave for any country and find a job there. It is important to emphasize that studying in the UAE is prestigious.
Business in the Emirates. The United Arab Emirates has become an investment-attractive country, as the local authorities have contributed to this. They created Free Economic Zones, in which there is a special regime for business - there are almost no taxes, duties, currency restrictions and everyone is free to dispose of their capital and income as they wish. The wonderful business environment attracts thousands of entrepreneurs every year to set up their businesses in the UAE. There are representative offices of such famous companies as Google, HP, Microsoft, Dell and others. A resident of Moscow can also join successful entrepreneurs who have opened their business in the UAE. To do this, you need to decide on the FEZ, collect and issue the necessary documents, taking into account some of the nuances. So that you can quickly start building your business in the Emirates, please contact our specialists. We will advise you, help you with the documents and submit them to the registration organizations in the UAE. We help both remotely and personally.
To obtain a UAE resident visa, an immigrant from Moscow needs to open a UAE tax resident company - an onshore. Having become the owner of an onshore in the UAE, its founder and his family members have the opportunity to obtain UAE resident visas. They are issued for three years, after which they can be easily extended.
It should be noted that international banking specialists from our company will pick up your bank accounts in Europe, Asia and the Caribbean free of charge.
Consider the specifics of living in the United Arab Emirates further.
Author: pikitrip · · Updated 11.0.019
Travel insurance is required for travel to the UAE. Without insurance, you may not be allowed into a country where even locals are fined for not having a health policy.
In the United Arab Emirates, medicine is developing at a cosmic pace and this directly affects the cost of services. Travel insurance for popular resorts in the UAE, such as Dubai, Abu Dhabi, Sharjah, Fujairah, costs about 300 rubles per week of rest, but it can save you from spending tens of thousands of dollars.
Not long ago there was a resonant case when an Arab sheikh paid bills for treatment (more than $ 50,000 in equivalent) to a Russian tourist.
The case was loud, news went through all channels, the Russian Foreign Ministry and other organizations got involved. The woman was lucky, although if she had travel insurance for 1000 rubles, this would not have been required.
You shouldn't count on such luck. The cost of treatment in the UAE is fabulously expensive, and a kind Arab sheikh may not be found.
In the UAE and Dubai, ancient Arab traditions and modern medicine, architecture and attitude to life are amazingly combined. A vacation in Dubai can only leave a pleasant experience, especially if you take care of it in advance and choose travel insurance that covers the many risks of both medical and other purposes.
The UAE is among the top 5 countries in the world with the most expensive medicine.
Local hospitals and hospitals have an international certificate of conformity, they employ the most highly qualified doctors, both local (trained in England and the USA) and foreign specialists.
The UAE is also included in the list of countries where the recommended amount of monetary coverage starts from $ 50,000.
Since September 3, Russia has resumed international flights with Egypt, the United Arab Emirates and the Maldives on a reciprocal basis. The airlines will be able to operate two flights a week to Dubai and the Maldives. There will be three flights a week to Cairo.
The Association of Tour Operators of Russia (ATOR) has published the rules of entry for Russians to these countries. One of the main conditions for tourists is a negative test for COVID-19.
Flights from Russia will be carried out only to Cairo. Tourists can get to the resorts of Sharm el-Sheikh, Hurghada and other tourists only from Cairo, by ground communication or by internal flight across Egypt.
The visa will need to be issued upon arrival at the airport - it costs $ 25. Visa is free for those arriving at the airports at the resorts.
Certificate of test results must be issued in Arabic or English. You can show both the original and the electronic version on your smartphone. You must have a paper copy of the certificate with you - you will need to hand it over at the airport. You cannot take the test upon arrival at Cairo Airport.
For those Russians who arrive at the Egyptian airports of resort cities (Hurghada, Sharm El Sheikh, Marsa Alam and Taba) from third countries, a certificate with the test results obtained in Russia is not required. But if there is none at all, you will need to undergo PCR testing at the airport, it costs $ 30. You can pay for it only in cash.
The test results in this case will be ready only after 12 hours. Until the results are obtained, tourists are required to self-isolate in the hotel and be serviced in their rooms. They will be provided with a separate transfer to the hotel. If a tourist arrives in Cairo and has a certificate with a negative result for COVID-19, then self-isolation is not needed. As for insurance, travel insurance is required, including treatment for coronavirus infection.
Tourists from Russia will be able to fly to Male International Airport (Velana), and from there they will be taken to other islands. Russians do not need a visa to enter. Visitors must carry a negative PCR test for coronavirus taken no more than 72 hours prior to arrival in the Maldives. The term is counted not from the time of receipt of the certificate, but from the time and date of sampling of the biomaterial.
At the airport, all tourists must pass thermometry. People with ARVI symptoms will need to do a PCR test at their own expense (it costs about $ 100). If the result is positive, then the tourists are quarantined in the hospital - they must pay all the medical expenses themselves.
When crossing the border in the Maldives, you must have a printed voucher for accommodation, round-trip tickets and medical insurance.
In this article we will tell you why it is worth immigrating to the UAE - to a country that is constantly developing and taking care of its residents.
The UAE Ministry of Health and Prevention has presented a new project - "smart" ambulances, which are able to quickly come to a call and deliver patients to hospitals.
This project is being implemented in partnership with National Ambulance and the Federal Office of Identity and Citizenship.
With the help of new technologies, ambulances will switch traffic signals from red to green if necessary, thus reducing travel time. Moreover, the automation mechanism will help you find the ambulance nearest to the place as quickly as possible and pave the shortest path to the hospital.
In turn, ambulance paramedics will have access to patient data linked to the "Emirates ID", which they will instantly transfer to the hospital, as well as to the virtual first aid room, thanks to which they can start treatment patients will be on their way to the hospital.
The UAE does not stand still. The country is trying to develop absolutely all areas. In addition to an excellent healthcare system for foreign citizens, it offers:
You can get a UAE resident visa if a foreign citizen:
Contact us for obtaining a UAE resident visa or for advice on immigration issues at e-mailinfo @ offshore-pro. nfo!
A company in the Emirates can be established without visiting the United Arab Emirates in the free economic zone "DMCC". Free Trade Zone "DMCC" is located in the central part of Dubai. Close to some of the most prestigious residential, tourist and shopping areas in the world. The free zone offers easy access to both airports and the port of Jebel Ali. The company in "DMCC" gives the opportunity to obtain a UAE resident visa for the owners and employees of the company. UAE visa can also be granted to their family members. There is no personal income tax. No corporate income tax.
Treatment in Israel - Ichilov clinic. Professional diagnostics at Tel Aviv Medical Center - Ichilov Sourasky Hospital. Actual prices for treatment.
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