The United Arab Emirates has enacted Federal Decree-Law No. 31/2023, establishing a newly developed regulatory framework for the administration of trusts within the UAE, including increased transparency. It grants recognition to trusts in all Emirates (excluding financial free-zones) irrespective of the location of the trust's assets, where previously only trust arrangements solely within an onshore UAE legislative system were recognised. A system for the official registration of trusts has been established, including the issuing of a validity certificate and an incorporation certificate by the adequate authority.
News Source：【M & Co Legal 2023/10/10】