Expatriate retirees who sign up for Dubai’s recently announced five-year retirement scheme will benefit from discounted rates for wills registration and probate services.
On Wednesday, the Dubai International Financial Centre Courts signed an agreement with Dubai Tourism to provide wills registration and probate services at discounted rates for retirees who are looking to secure their assets in the UAE.
Under the Retire in Dubai programme launched in September, residents and foreigners aged above 55 years can live in the emirate if they fulfill one of three requirements.
They must either earn a monthly income of Dh20,000 ($5,450); have Dh1 million in cash savings; or own a property in Dubai worth at least Dh2m. They must also have valid UAE health insurance.
A retired expatriate and their spouse can apply for the five-year visa with the possibility of automatic renewal online, provided they continue to meet the criteria.
Through its retiree programme, Dubai aims to tap the economic potential of the world's retiree population.
In 2015, people aged over 50 generated around $7.6 trillion worth of economic activity in the US, according to Oxford Economics. Direct spending on consumer goods and services, including health care, by those aged 50 and over amounted to $5.6tn in 2015, according to a survey by the group. The Economist Intelligence Unit last year estimated the contribution of the older generation to the US economy at $8.3tn.
Currently, the cost to register a single will with the DIFC Courts Wills Service is Dh10,000, while a mirror will costs Dh15,000. However, under the Retire in Dubai programme, the cost to register a single full will is Dh6,190 and a mirror will is Dh8,190.
“Our Retire in Dubai programme … [aims] to make the city the world’s most preferred lifestyle destination,” Yousuf Lootah, executive director of tourism development and investments at Dubai Tourism, said.
“This agreement with the DIFC 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.”
In the absence of a will in the UAE, Sharia inheritance law will apply to how an individual’s estate is divided, meaning they lose the right to distribute assets as per their wishes.
Launched through a partnership between the DIFC Courts and the government of Dubai in 2015, the Wills Service was established to enable non-Muslims who invest and live in the UAE to pass on their assets and appoint guardians for their children in line with their wishes.
Meanwhile, the DIFC Courts Wills Service said it now offers a videoconferencing option to register wills. People taking out a will and two witnesses can join a video conferencing call and electronically sign the will through a dedicated portal.
“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,” the DIFC Courts said in a statement.
Squads
Pakistan: Sarfaraz Ahmed (c), Babar Azam (vc), Abid Ali, Asif Ali, Fakhar Zaman, Haris Sohail, Mohammad Hasnain, Iftikhar Ahmed, Imad Wasim, Mohammad Amir, Mohammad Nawaz, Mohammad Rizwan, Shadab Khan, Usman Shinwari, Wahab Riaz
Sri Lanka: Lahiru Thirimanne (c), Danushka Gunathilaka, Sadeera Samarawickrama, Avishka Fernando, Oshada Fernando, Shehan Jayasuriya, Dasun Shanaka, Minod Bhanuka, Angelo Perera, Wanindu Hasaranga, Lakshan Sandakan, Nuwan Pradeep, Isuru Udana, Kasun Rajitha, Lahiru Kumara
End of free parking
- paid-for parking will be rolled across Abu Dhabi island on August 18
- drivers will have three working weeks leeway before fines are issued
- areas that are currently free to park - around Sheikh Zayed Bridge, Maqta Bridge, Mussaffah Bridge and the Corniche - will now require a ticket
- villa residents will need a permit to park outside their home. One vehicle is Dh800 and a second is Dh1,200.
- The penalty for failing to pay for a ticket after 10 minutes will be Dh200
- Parking on a patch of sand will incur a fine of Dh300
Terminator: Dark Fate
Director: Tim Miller
Starring: Arnold Schwarzenegger, Linda Hamilton, Mackenzie Davis
Rating: 3/5
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Explainer: Tanween Design Programme
Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.
It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
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Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
