{"id":2837,"date":"2024-10-23T16:11:29","date_gmt":"2024-10-23T12:11:29","guid":{"rendered":"https:\/\/saifalshamsiadvo.com\/?p=2837"},"modified":"2024-10-23T16:13:10","modified_gmt":"2024-10-23T12:13:10","slug":"setting-up-a-trust-in-uae","status":"publish","type":"post","link":"https:\/\/saifalshamsiadvo.com\/ar\/setting-up-a-trust-in-uae\/","title":{"rendered":"Setting up a Trust in UAE"},"content":{"rendered":"
The concept of trusts has become increasingly relevant in the UAE as the nation adapts to the growing demand for sophisticated estate planning, asset protection, and wealth management. With its expanding expatriate population and burgeoning business activities, the UAE has introduced a trust law framework that aligns with international standards. This article explores the latest developments in UAE trust law, the legal framework surrounding trusts, and the key benefits for individuals and businesses.<\/p>\n\n\n\n
Historically, the UAE lacked a dedicated legal structure governing trusts. However, the legal landscape has evolved significantly with the enactment of the UAE Trust Law (Federal Law No. 3 of 2020), which formally recognizes and regulates trusts for the first time. This, alongside the UAE Civil Code and the specialized trust laws in free zones like the Dubai International Financial Centre (DIFC)<\/a> and Abu Dhabi Global Market (ADGM)<\/a>, provides a comprehensive framework for the creation and management of trusts.<\/p>\n\n\n\n Several laws now provide the foundation for trust regulations in the UAE:<\/p>\n\n\n\n The UAE Trust Law introduces several key provisions that clarify the structure and operation of trusts, including:<\/p>\n\n\n\n A trust typically involves the following parties:<\/p>\n\n\n\n The introduction of trust law in the UAE provides significant advantages:<\/p>\n\n\n\n In addition to trusts, the UAE has seen increased use of escrow accounts<\/strong> as a secure financial tool. An escrow account is a third-party account where funds or assets are held until specific conditions are met. This is particularly useful in real estate transactions, inheritance planning, or business deals, where escrow accounts provide an additional layer of security, ensuring that funds are only released when the agreed-upon terms are fulfilled. Escrow services complement trusts by offering a practical solution for secure financial transactions, further enhancing asset protection in the UAE.<\/p>\n\n\n\n The establishment of a clear legal framework for trusts and the use of escrow accounts in the UAE marks a pivotal step in the country\u2019s legal evolution. Trusts offer individuals and businesses alike a robust tool for estate planning, asset protection, and efficient wealth management. At Saif Al Shamsi Advocates & Legal Consultants, we are committed to helping clients navigate the complexities of UAE trust law. For more information or to discuss how a trust or escrow account can benefit you, contact us for a consultation.<\/p>\n\n\n\n At\u00a0Saif Al Shamsi Advocates & Legal Consultants<\/a><\/strong>, we are here to assist you with all aspects of partnership disputes, from drafting agreements to representing you in negotiations, arbitration, or litigation. Contact us today to learn more about how we can support your business.<\/p>","protected":false},"excerpt":{"rendered":" Introduction The concept of trusts has become increasingly relevant in the UAE as the nation adapts to the growing demand for sophisticated estate planning, asset protection, and wealth management. With its expanding expatriate population and burgeoning business activities, the UAE has introduced a trust law framework that aligns with international standards. This article explores the […]<\/p>","protected":false},"author":1,"featured_media":1944,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","nf_dc_page":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-law-firm-in-dubai"],"blocksy_meta":[],"qubely_featured_image_url":{"full":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?fit=1200%2C628&ssl=1",1200,628,false],"landscape":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?resize=1200%2C628&ssl=1",1200,628,true],"portraits":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?resize=540%2C320&ssl=1",540,320,true],"thumbnail":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?resize=150%2C150&ssl=1",150,150,true],"medium":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?fit=300%2C157&ssl=1",300,157,true],"medium_large":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?fit=768%2C402&ssl=1",768,402,true],"large":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?fit=1024%2C536&ssl=1",1024,536,true],"1536x1536":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?fit=1200%2C628&ssl=1",1200,628,true],"2048x2048":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?fit=1200%2C628&ssl=1",1200,628,true],"trp-custom-language-flag":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?fit=18%2C9&ssl=1",18,9,true],"qubely_landscape":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?resize=1200%2C628&ssl=1",1200,628,true],"qubely_portrait":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?resize=540%2C320&ssl=1",540,320,true],"qubely_thumbnail":["https:\/\/i0.wp.com\/saifalshamsiadvo.com\/wp-content\/uploads\/2022\/04\/Crypto-Featured-Image-1.png?resize=140%2C100&ssl=1",140,100,true]},"qubely_author":{"display_name":"giesalbon","author_link":"https:\/\/saifalshamsiadvo.com\/ar\/author\/giesalbon\/"},"qubely_comment":0,"qubely_category":"Law firm<\/a>","qubely_excerpt":"Introduction The concept of trusts has become increasingly relevant in the UAE as the nation adapts to the growing demand for sophisticated estate planning, asset protection, and wealth management. With its expanding expatriate population and burgeoning business activities, the UAE has introduced a trust law framework that aligns with international standards. This article explores the…","yoast_head":"\nKey Laws Governing Trusts in the UAE<\/strong><\/h5>\n\n\n\n
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Key Provisions of the UAE Trust Law<\/strong><\/h5>\n\n\n\n
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Key Parties Involved in a Trust<\/strong><\/h5>\n\n\n\n
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Recent Developments in UAE Trust Law<\/strong><\/h5>\n\n\n\n
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Implications for Individuals and Businesses<\/strong><\/h5>\n\n\n\n
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Also read introduction of Escrow Accounts<\/strong><\/h5>\n\n\n\n
Conclusion<\/strong><\/h5>\n\n\n\n