In the following article, originally published in The Oath
Magazine,
Rima Mrad and
Bradley Moran offer a comparison of the Foundations in the
ADGM, DIFC & RAK ICC – the formation, key features and
differences.
Foundations are a form of hybrid entity similar to both a
private company and a trust structure. Combining the mechanisms of
both, a Foundation is established for a beneficial purpose
determined by the 'Founder' yet retains a corporate level
of independent legal personality.
With the benefit of the independent legal personality,
Foundations are well suited to offer practical and flexible
structures for a multitude of purposes including: private wealth
management and preservation, succession planning, tax planning,
charitable institutions, asset protection, corporate structuring
and creditor protection.
