Heatedfuelreturn
4th Mar 2009, 03:33
I was invited up to RAK to attend a small seminar on Sharia law with reference to inheritance, wills and sucession in general.
The venu the new Cove hotel was very nice, but the AC was not up to the needs.
However the presentation was mostly about forming an offshore company to be the owner of the property that you and your wife, friend, partner own.
This is the only practical way to avoid the death splits that Sharia law demands on all NON movable assets.
It is essental to make a will in your home country, and that this will states that the law of your home country is referenced.
Not fully explained until the very end, by a third party, in the audience, was the importance of keeping as much of your liquid assets in an overseas account. This ensures that the spouse has access to funds upon the partners death.
With the combination of labour lays and residence visa requirments, plus frozen bank accounts in the UAE, a remaining partner is basically frozen out of life in the UAE, and ALL of what they perceived as their comunity assets.
HFR
The venu the new Cove hotel was very nice, but the AC was not up to the needs.
However the presentation was mostly about forming an offshore company to be the owner of the property that you and your wife, friend, partner own.
This is the only practical way to avoid the death splits that Sharia law demands on all NON movable assets.
It is essental to make a will in your home country, and that this will states that the law of your home country is referenced.
Not fully explained until the very end, by a third party, in the audience, was the importance of keeping as much of your liquid assets in an overseas account. This ensures that the spouse has access to funds upon the partners death.
With the combination of labour lays and residence visa requirments, plus frozen bank accounts in the UAE, a remaining partner is basically frozen out of life in the UAE, and ALL of what they perceived as their comunity assets.
HFR