Asset Protection in the - UAE
The asset protection is crucial, especially in a jurisdiction where expatriates reside and are unaware of how their assets can be guarded while alive and after death.
An avoidable misfortune that befalls myriads of entrepreneurs is the loss of their homes, savings, and even their spouse or partner’s assets. Most often, it is too late at the time we are contacted as most cases are already at the edge being bankrupt. So, why leave matters until it is too late? If you will like to keep what is yours, Contact Us for a Free Consultation.
Many times, we are called upon to help our clients with asset protection, as it is one of our major areas of expertise. You can join the boat, but first, you should understand why Assets needs to be protected.
Why Asset Protection Matters?
Assets Protection is a set of techniques or strategies used to protect assets belonging to an individuals and business against the claims of third party, who tries to seize your wealth.
They are protected to reduce the risk of losing your earned property (money, real estate investments, jewelry, vehicles and personal or household belongings).
It is the base for financial stability. Similarly, when there is stability there is physical and mental security equally beneficial for you and to your loved ones. So, take this initial step towards prosperity.
Assets protection is done by adopting various strategies such as:
1. Formation of Limited Liability Companies or Limited Partnerships
The separation of liabilities is a major key to asset protection. Setting up an LLC can prove to be more beneficial in securing your assets than you can ever imagine. The benefits a company grants its promoters and directors are far more advantageous than what being a sole proprietor can give.
2. Registration of Wills or Deeds
A legal declaration of a person wishes regarding the disposal of their assets after the death. Wills registration is the most desired and effective ones especially, when it comes to the assets protection of expatriates in the UAE.
3. Use of Assets Protection Trust or Foundation
Both the trust and foundation provides families with a local solution to manage their wealth protect their assets and plan for successions.
As soon as we understand where your assets are located and their identity, we will help you segregate where and how they should be owned and protected.
At Legal Maxims, we are glad to take on your request for the Protection of your assets and will assure you the Pace of mind that you need. Our service includes but not limited to setting up legal forms for your business and helping you to plan any form of taxation responsibly. Since, Asset Protection requires an in-depth knowledge of the various UAE laws, we assure you of our esteemed service and dedication to ensuring that your assets are protected.
Contact Us for a Free Consultation today.