UAE clarifies what happens to assets of expats with no heirs

THIS APPLIES ONLY WHEN A FOREIGNER DIES WITHOUT LEAVING BEHIND A WILL

- BY DHANUSHA GOKULAN Chief Reporter

The UAE has introduced a clear new rule on what happens to a foreign residents' assets if they die in the country without a will or any claim from legal heirs, under the newly issued Civil Transactions Law.

Under the law, financial assets located in the UAE and belonging to a foreigner who leaves no heirs will be designated as a charitable endowment and managed by a competent authority.

"The Law further provides that financial assets located within the UAE belonging to a foreigner with no heirs shall be designated as a charitable endowment, subject to supervision by the competent authority to ensure proper management and allocation," the UAE Media Office said in a statement.

The move ends years of legal uncertainty and ensures such assets are handled transparently and in the public interest.

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