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September 17, 2017 | 15:30 | Dubai
The DIFC Wills & Probate Registry (the Registry) today announced achieving the milestone of 3,000 Wills registered since launch. This latest figure highlights the growing demand for succession planning for assets in Dubai and Ras Al Khaimah. Previous research from the Registry has shown that registering a Will in the UAE is becoming increasingly important as residents and investors view the UAE as a long-term proposition for their property and families.
The vast majority of registrants (96%) are opting to protect their prized possessions through a full Will covering family, property and other assets. This suggests that the resident expatriate population is committing to a future in the UAE – settling down, buying property, and accruing assets. Just over half of registrants are from the UK and India – reflecting their position as the two largest investor groups in real estate after GCC nationals.*
The past 12 months has seen five successful innovations by the Registry to enable greater flexibility and better access to Will registration in line with the needs of residents and investors:
Sean Hird, Director of DIFC Wills and Probate Registry commented: “Our numbers show that people are opting to register their Wills under common law so that their wishes will be respected. We are very proud and thankful that we have been able to expand into Ras Al Khaimah this year, launch our on-line special purpose Wills, and develop outsourced registration services for the future with trusted partners in multiple locations.”
Registering a Will with the DIFC Wills & Probate Registry is one of the basic steps that every non-Muslim with assets in Dubai or Ras Al Khaimah should be taking as part of their life planning. For more details please visit www.difcprobate.ae.
* Statistics sourced from the Dubai Land Department