DIFC WILLS | DIFC WILLS NOW TAX EXEMPT
Did you know?
DIFC Will Services are now Tax-Exempt!
A DIFC Will encompassing Dubai assets (bank accounts, jewelry, works of art, cars, investment policies, shares of companies, real estates…) only, located or registered in Dubai, could be registered in the Dubai International Financial Center (DIFC), a Common Law Jurisdiction based on the UK Estates Act and Probate Rules excluding the Sharia law, Wills and Probate Registry (“WPR”) by Non-Muslim individuals over the age of 21 years UAE resident or not under full testamentary freedom (except some restrictions depending on the testator’s citizenship and/or residency) and covering guardianship matters related to minor children habitually resident in Dubai with the testator.
A Will can now be registered at the DIFC Wills Service Centre (DIFC WSC) for a lower price and it was just announced that the DIFC Courts Wills Service Centre is no longer required to pay VAT for its services which means that all Will registration services shall be exempt from the 5% VAT charge that currently applies.
Will services already rendered before this date shall still be charged the VAT fees and no refunds are available for VAT already paid prior to the effective date.
How Can We Help in Registering Tax-Exempt DIFC Wills?
Wincore advisory Group assists individuals and families to articulate their objectives and aspirations to establish the foundation of a sound succession planning through the establishment of a DIFC Will to mitigate Sharia or foreign succession laws at the dismissal of the testator/legator. In particular, Wincore advisory Group provides end-to-end and tailored made solutions for successful families related to registering DIFC Wills.
For Support and assistance on this matter Get in touch with our Advisors Today.
Wincore specializes in Tax, Estate, Corporate and Fiduciary matters. We provide pragmatic, flexible, and efficient solutions to individual entrepreneurs, startup businesses, foreign and local SMEs, multinationals, wealthy international families, HNWIs, and UHNWIs. Contact us on +971 4 443 6694 or contact@wincoreadvisory.com
