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Find out moreWelcome to this edition of Law Update, where we focus on the ever-evolving landscape of financial services regulation across the region. As the financial markets in the region continue to grow and diversify, this issue provides timely insights into the key regulatory developments shaping banking, investment, insolvency, and emerging technologies.
2025 is set to be a game-changer for the MENA region, with legal and regulatory shifts from 2024 continuing to reshape its economic landscape. Saudi Arabia, the UAE, Egypt, Iraq, Qatar, and Bahrain are all implementing groundbreaking reforms in sustainable financing, investment laws, labor regulations, and dispute resolution. As the region positions itself for deeper global integration, businesses must adapt to a rapidly evolving legal environment.
Our Eyes on 2025 publication provides essential insights and practical guidance on the key legal updates shaping the year ahead—equipping you with the knowledge to stay ahead in this dynamic market.
We are pleased to announce that the DIFC Wills and Probate Registry has today released new Rules, which will come into effect as of 30th June 2019.
There are two major changes to the Rules. Firstly, the Rules will allow Non-Muslims to include all of their worldwide assets in the DIFC Will. Testators who wish to register DIFC Wills only for their Dubai and/or Ras Al Khaimah Estates may continue to do so. Guardianship Wills and guardianship provisions in the DIFC Will will continue to be valid only for minor children who are habitual residents of either Dubai or Ras Al Khaimah.
Secondly, the Authorised Officer/Probate Director will no longer be a second Witness to any of the Will signings as of 30th June 2019. It is imperative that Testators are aware that they now need to bring two (2) Witnesses to the Will signing. Witnesses must be at least 21 years old, with a valid photo ID. Witnesses cannot be a Beneficiary or a Guardian (or a spouse of a Beneficiary or a Guardian) mentioned in the Will.
Individuals who already have a registered DIFC Will, but would like to extend the jurisdiction to reflect assets in other Emirates or global assets, will have the opportunity to amend their Wills at no additional cost between 30th June and 29th August 2019. Please note, these appointments must be made by email (appointments@difcwills.ae) only. Any modifications after 29th August 2019 will result in a fee of AED 550 +VAT.
To discuss your Will requirements further or the impact of the new DIFC Wills and Probate Registry Rules, please contact Dipali Maldonado or Ruksana Ellahi in our Private Client Services department.
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