Asset Protection - WinCore

November 12, 2019by MOHAMMED RAHALI0

Asset protection is currently the top priority for many of our clients in order to achieve the following goals:

 

  • To strengthen the control over locally owned companies in GCC against the sponsorship partnership risk by mitigating the risk of having the sponsor in a difficult economic  environment asking for a bigger share of the profit or having to pass through the transfer of sponsor ‘shares to his descendants in case of his demise within a sharia law environment; Along with our trusted advisers, we can assist you with the structuring and restructuring of your natural or corporate sponsorship to grant you much more control and safety.
  • To plan the transfer of entities or assets to next generations without risking their dismantlement due to the descendants ‘fights;
  • To ring fence the risks & liabilities within the risky entity and subsequently avoid systemic dissemination of the risk & liabilities  to other owned assets held under the same holding umbrella or the ultimate beneficial owner;
  • To protect their privately owned assets from the reach of creditors of the operating entities;
  • To protect assets from divorceforeign judgements enforcement or forced heirship rights;
  • To mitigate the risk of sharia law on succession through proper estate planning;
  • To structure the various businesses under segregated and tax efficient holding structures (Foreign & Local Ones) and umbrella entities such as Foundations or Trusts;
  • To plan the disposal or benefit of deceased estate to beneficiaries (descendants, third parties or charities) in total freedom;
  • To establish proper governance planning structure to monitor and maintain the family owned businesses through generations.

In parallel to the implementation of  asset protection (mitigate creditors , divorce and forced heirship risks), governance planning , estate planning (mitigate sharia law or other foreign succession rules), new UAE substance requirements (for UAE companies in line with OECD regulations) strategies through the use of various entities such as Trusts and foundations; We could also advise you on CRS (Common Reporting standard).

 

We have extensive knowledge related to asset protection and may be able to help you protect your individual, family and business assets. No matter how challenging your situation may be, we have the resources and experience to identify solutions.

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MOHAMMED RAHALI

Wincore Advisory Group
Managing Partner
M: +971 (0) 55 138 9591
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