Webinar: Trust and foundation structures in the UAE: The UAE Federal Trust Law and recent developments in the DIFC and beyond
David Russell QC was recently a guest in a webinar hosted by Trowers & Hamlins. The webinar focused on the new Federal Trust Law and the recent interpretative judgement of the DIFC Court of Appeal on various aspects of the DIFC Trust and Foundation laws.
The rollout of trusts and foundations in the GCC continues, with the most recent addition being the enactment of a Trust Law at national level in the UAE. Being a civil law jurisdiction in which Shari’a concepts play a major role, the UAE’s incorporation of trusts into its national legal system raises fascinating issues.
This webinar, organised by STEP Arabia, provided an opportunity for a focussed consideration of these issues and is likely to be of relevance to any consideration of the use of such structures in the region
- Jacques Visser, Chief Legal Officer of the DIFC Authority
- Dr. Hussam Sameer Al Talhuni, Legal Consultant to the Minister of Finance
- David Russell QC, Outer Temple Chambers
- Alastair Glover, Partner at Trowers & Hamlins and Chairman of STEP Arabia
Jacques Visser opened the discussion and thanked his guests including David, who he described as his sounding board and voice of reason when it comes to dealing with a multitude of complex topics that the DIFC has to address and looking at it from “a dynamic and best in-class perspective”. He said “In that context, David’s contribution has been invaluable across a number of topics and also, in this ever complex world of FATF and OECD related and driven approach on transparency Common Reporting and economic substance.”
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David Russell QC is an Australian barrister who specialises in international tax law. He currently practises in Dubai, London, and Abu Dhabi, Sydney and Brisbane.
Barristers: David Russell QC