Should NRIs in Dubai consider UAE foundation for succession?

Simply put, a foundation is a separate legal entity that holds assets for the benefit of family members or specified purposes.

- Rohit Jain and Keshav Singhania

As an NRI in Dubai planning succession for family wealth, should I consider a UAE foundation? —Name withheld on request

It has no shareholders or members and is therefore often described as an orphan structure. It typically involves four key roles: the founder, who sets up the foundation and contributes assets; the council, which manages the foundation and administers its assets in line with the governing documents; the guardian, where appointed or required, who oversees the council and helps preserve the founder’s intent; and beneficiaries, who are the individuals or classes of persons for whose benefit the foundation is established.