DIFC Wills and Probate launched online testament registration

01/10/2017

   

Description

From 1 October 2017 international investors can register their Real Estate Will or their Free Zone Will with DIFC Wills and Probate Registry online. Eligible investors living abroad with real estate assets or shares in Free Zone companies in Dubai or Ras Al Khaimah, can create and register a DIFC will online from anywhere around the world. This first-of-its-kind service provides a simple online template for property assets and Free Zone company shares to be completed via the registry's website. The draft can then be registered in real time by video conferencing with a Registry Officer based in Dubai. In a break with traditional legal requirements, clients and witnesses no longer need to attend a registration appointment onsite to create a binding legal document.

The property will allows those with real estate assets to secure up to five properties in Dubai and Ras Al Khaimah. Likewise, Free Zone company shareholders in both Dubai and Ras Al Khaimah can directly protect up to five shareholdings and guarantee business continuity through the Free Zone Company Will. The registration cost of one Property Will is 7,500 AED and that of two Mirror Property Wills is 10,000 AED.