New UAE Law Clarifies Fate of Foreigners’ Assets Without Wills or Heirs
Dubai: The UAE has enacted a new rule under its Civil Transactions Law that clarifies what happens to the assets of foreign residents who die in the country without a will or any legal heirs.
According to the law, financial assets belonging to such foreigners will now be placed under a supervised charitable endowment, managed by a competent authority to ensure proper oversight and allocation.
“The law 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 resolves years of legal uncertainty over unclaimed expat assets and ensures they are handled transparently and in the public interest.
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