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Schedule forSchedule forThings You Should Know About DIFC Trust and Foundations
- Definition and Purpose
- Key Features
- Benefits
In this section, we’ll explore the definition, key features, and purpose of setting up DIFC Trusts and Foundations.
- DIFC Trust: Under the DIFC Trust Law, a settlor gives assets to a trustee, who then handles them for the benefit of named beneficiaries. We refer to this as a DIFC Trust. Most often used to protect assets, keep wealth safe, plan for the future, and keep family wealth management private.
- DIFC Foundation: A founder sets up a DIFC Foundation, which is a separate legal entity governed by the DIFC Foundations Law and holds and manages assets for particular goals. Helps with bigger goals like managing wealth across generations, doing good deeds, being a good business citizen, and holding Dubai real estate well.
In this section, we can discuss the main characteristics that distinguish DIFC Trusts and Foundations.
| DIFC Trusts | DIFC Foundation |
| Trustees are in charge and have a duty to do what's in the best interest of the recipients. | They are separate legal entities with their own legal identity, which means they can own things in their own names. |
| The assets are held in the name of the trustee and are not considered to belong to a different legal entity. | It is run by a council or board, which gives it a more organized government. |
In this section, we can explore the key advantages of establishing Trusts and Foundations within the DIFC.
DIFC Trusts | DIFC Foundation |
Offers a strong framework for protecting assets, keeping wealth safe from possible threats like creditors or court claims. | As separate formal entities, they offer better protection for creditors and structured management for wealth that will last for generations. |
Allows families to handle their wealth and plan for the future of the business in private. | It can be used for many things, such as holding Dubai real estate, charitable goals, and business social responsibility projects. |
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