FOUNDATIONS
We think the 'foundation' is an underestimated tool for wealth protection and wealth creation.
What is the advantage of a foundation?
Foundations in the UAE have a near perfect mix between on the one hand behaving like a corporation, on the other hand operating tax free and in a separated jurisdiction. Instead of starting a company in the United Arab Emirates, many clients are actually better served with a foundation. Since this is an offshore entity, clients assume it will be extremely expensive or that it is "Not for them", Or even worse illegal. We like to challenge those assumptions. For wealth protection, building and leaving a legacy, a foundation tends to be an excellent vehicle.
What does it costs?
it's a lot of work, also on our side, we charge 19.700 AED, all in. Before you claim that this is 'expensive', calculate your benefits. Expensive are things and services you don't use. Your foundation is probably working for you day and night, and saving you Big on taxes.
How long does it take to set up a foundation?
On average 6 months. It's a lot of work when done the right way.
Is it secret?
No, the founder of the foundation is public, and if your goal is to hide money from the tax authorities, we hate to break it to you; the trend is not your friend. But...a foundation is private, and robust. For example impouding of assets of a foundation is virtually impossible.
Do I need an office?
Yes, but....we can cater that for you.
Do I need to come to the UAE?
No, it's a 100% digital process. That's the upside. The downside is that your digital work, like scans etc. have to be 100% perfect.
Who do I need to contact for more information?
This is best done via Mr. Paul Harts M.sc. You can find his contact details via 'Get in touch', or drop him an e-mail: harts@holland-legal-services.ae