Non-Muslims to secure inheritance distribution through RAK ICC registered Wills
RAS AL KHAIMAH, 15 NOVEMBER 2017: Ras Al Khaimah International Corporate Centre (RAK ICC), has officially launched its Wills and Probate Registry (WPR) programme as part of a one-of-a-kind partnership with Dubai International Financial Center (DIFC), welcoming non-Muslims to register Wills that guarantee asset distribution and guardianship appointment according to their exact wishes. The enforcement of the Wills occurs through DIFC Courts and Ras Al Khaimah Courts.
Ramy Jallad, Acting CEO of RAK ICC and Group CEO of Ras Al Khaimah Economic Zone (RAKEZ), commented: “We live in a country filled with people from different walks of life who have different wishes on how they want their children and estates to be handled after a long and healthy life. With RAK ICC WPR, we provide non-Muslims the freedom to opt out of the usual Sharia method for asset distribution and custody appointment. They will be able to determine their wishes and have the peace of mind that their family’s tomorrow is secured.”
Sean Hird, Director of DIFC Wills & Probate Registry said, “Our partnership with RAK ICC fits perfectly with our aim of making our services more accessible. The RAK ICC official launch pays testimony to our drive to make clients and investors feel secure in protecting their loved ones and wealth throughout the Emirates of Ras Al Khaimah and Dubai.”
RAK ICC registers five types of Wills: Full Will, Guardianship Will, Property Will, Free Zone Company Will and Financial Assets Wil.
With the newly launched WPR programme, RAK ICC welcomed its first client who registered a Property Will. Commenting on this occasion the client said, “We’re happy that RAK ICC has introduced a Will registration service. We are among the many investors in Dubai and Ras Al Khaimah’s real estate market and having a Will is very important for us to ensure that our properties go to our family the way we want. We are very grateful for RAK ICC’s support in our Property Will registration. The whole process was not only speedy but also very straightforward. Overall, we were taken care of in a professional and personal way.”
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