DIFC Foundations offer a premier legal framework for asset administration in the UAE, grounded in the esteemed principles of English Common Law. With rigorous judicial oversight, these foundations provide an exceptional legal structure for various purposes, including philanthropy, family business protection, real estate management, and safeguarding valuable possessions like art.
Elevate Your Asset Management with DIFC Foundations
The DIFC Foundation offers a robust framework for managing wealth, ensuring transparency and control while maintaining privacy and confidentiality. Ideal for private wealth management, it simplifies succession and legacy planning, protecting assets from creditors, divorce claims, and forced heirship rules. With its premium governance structure, the DIFC Foundation serves as a secure and versatile platform for asset preservation. Whether you are focusing on wealth safeguarding or planning for future generations, the DIFC Foundation provides the necessary tools to protect your legacy and enhance your financial strategy.
How can a Founder maintain control over the Foundation and its Assets?
Founders can maintain control over a DIFC Foundation and its assets by incorporating specific mechanisms in the Charter and By-Laws. These include the ability to appoint and remove Council Members and/or the Guardian, granting the Founder casting vote rights as a Council Member, and establishing veto rights over key decisions as the Guardian. Additionally, Founders can reserve powers to amend the Charter and By-Laws, including the authority to dissolve the Foundation, ensuring they retain significant oversight and influence over its governance and operations.
Can a DIFC Foundation Hold Property?
Yes, a DIFC Foundation can hold property in Dubai, applicable to both Muslims and non-Muslims, in areas designated for foreign ownership. The DIFC has an MOU with the Dubai Land Department to support this. Additionally, if it can be proven that the beneficial owner of the property being transferred to the Foundation is the same, an application can be made to reduce the transfer fee from 4% to just 0.125%, making property acquisition more economical.
Key Features of DIFC Foundations
- The DIFC operates as a financial free zone with its own civil and commercial laws, providing access to DIFC Courts, where proceedings are conducted in English under Common Law.
- Foundations can hold a wide range of assets, including shares, bank accounts, aviation assets, and any other legally permissible assets from around the world.
- A DIFC Foundation has its own legal identity, allowing it to enter contracts and arrangements directly, like other incorporated entities.
- Foundations can be redomiciled (migrated) in and out of DIFC, offering flexibility in location and management.
- Foundations can be established with an initial asset commitment of as little as USD 100, making them accessible for various purposes.
- There is no requirement for a physical office in the UAE, and the Foundation can use the address of a registered company service provider; additionally, there are no residency requirements for Founders or officers.
Why MS Foundation Setup Services for DIFC entities
Discover the strategic advantages of establishing a DIFC Foundation to simplify your wealth planning and safeguard your family’s future. At MS, our dedicated team specializes in DIFC foundations and is committed to guiding you through every phase of the setup process. We tailor a personalized structure that aligns seamlessly with your asset goals. Beyond basic compliance, our proactive approach anticipates regulatory changes, ensuring your foundation remains flexible and effective for generations to come in the DIFC. If you are choosing DIFC for your business setup, as a registered corporate service provider, MS also offer expert incorporation assistance for family offices and prescribed companies, ensuring a seamless and compliant setup tailored to your specific needs.
About MS
At MS, with a significant presence in Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM), we are more than just advisors – we are your bridge to success. Specializing in Corporate, Compliance, Market Entry Research and Feasibility Study, Advisory, Tax & Accounting services and Executive Search, we draw on over seven years of experience across the UAE to provide exceptional insights into local compliance and regulations. By delivering tailored solutions and unwavering support, we enable our clients to unlock their full potential and achieve remarkable success. We serve as the single source solution provider for corporates, institutions and private clients leveraging our extensive multijurisdictional services experience. Our vision is to be the foremost global partner on every client’s transformative business journey, driving growth and realizing aspirations in the Gulf region.
Disclaimer
MS is a trading name of MS Corporate Services (DIFC) Limited, M S Global Solutions DMCC and M S Chartered Accountants LTD (ADGM). MS Corporate Services (DIFC) Limited is registered with the Dubai Financial Services Authority (Reg No: 9054) as DNFBP and is commercially licensed by the Dubai International Financial Centre Authority as a Corporate Services Provider. M S Global Solutions DMCC is licensed by Dubai Multi Commodities Centre Authority (Reg no: 873767) as a Corporate Services Provider and Management Consultant. M S Chartered Accountants LTD is licensed by ADGM Authority (Reg No: 000007218) for Management Consultancy, Tax Consultancy, Compliance Consultancy and Accounting Services.