Dubai, United Arab Emirates; 04 November 2020: The attraction of Dubai as one of the region’s top investment and retirement destinations has been boosted by new steps designed to secure foreign investment and protect assets of investors and residents.
The Dubai International Financial Centre (DIFC) Courts has signed a cooperation agreement with the Department of Tourism and Commerce Marketing (Dubai Tourism), to support the newly launched ‘Retire in Dubai’ programme
Under the agreement, the DIFC Courts has developed enhanced Wills registration and Probate services at exclusive discounted rates. The services will assist retirees with securing their assets in the UAE, delivering final peace of mind and safe in the knowledge that their wishes will be respected.
His Excellency Omar Al Mheiri, Deputy Chief Justice, DIFC Courts, said: “The DIFC Courts is honoured to be invited to participate with this programme. We remain confident our existing and unique Wills Service can contribute to the overall value proposition Dubai is presenting under this new scheme for retirees. With over two million expatriates residing in Dubai, the Government of Dubai and the DIFC Courts recognise the vital importance of our innovative service for non-Muslim residents and investors, which provides not only practical assistance with legacy planning, but simultaneously boosts Dubai’s attractiveness as a destination for investment and retirement.”
Yousuf Lootah, Executive Director, Tourism Development & Investments, Dubai Tourism, commented: “Our Retire in Dubai programme is inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to make the city the world’s most preferred lifestyle destination. An essential aspect of ensuring the success of this programme will be the continued stakeholder engagement and wide-ranging cooperation extended by our partners. This agreement with the Dubai International Financial Centre Courts will further enhance Dubai’s position as a retiree-friendly destination, as it will contribute towards the support system that will be available for the retirees. The Wills Service provided by the DIFC Courts will be part of the extensive package of benefits and world-class services that retirees in Dubai can access under our global retirement programme, ensuring that they are able to enjoy an active stress-free retirement lifestyle in Dubai while leaving the key elements of planning their retirement in the hands of the experts.”
Launched through a partnership in 2015 between the DIFC Courts and the Government of Dubai, the Wills Service was established to enable non-Muslims who are investing and living in the UAE to pass on their assets and appoint guardians for their children in line with their wishes through a Will registration service.
As a part of the UAE Government’s commitment to effectively employ advanced technologies and digital platforms to continue services to the public during COVID-19 restrictions, in 2020 the DIFC Courts leveraged its digital infrastructure to offer videoconferencing for Will registrations.
With individuals and businesses across the UAE currently operating remotely, the new video conferencing facility can be accessed via a smartphone, tablet, or a desktop device, allowing residents and investors to register their Will remotely, from the safety and comfort of their own home. The new system now allows the Testator and two (2) Witnesses to join in on the video conferencing call from different locations. The system also allows an approved Will to be directly uploaded on the system and to affix electronic signatures.
Remote registrations add an additional layer of digital access to the current Virtual Registry for Wills, which allows those living overseas to create and register a DIFC Courts Will. Investors and residents can access it from anywhere in the world and be connected, via video link, to a compliance officer sitting in Dubai.
The DIFC Courts also provides an online automated will drafting service for the Property Will, Business Owners Will and Financial Assets Will, with comprehensive explanatory notes, should retirees wish to draft the Will independently.
