Only 10% of Dubai expatriates have registered wills

dubai - Many non-Muslim residents with assets in Dubai haven't taken action to safeguard them

Most expatriates are staying in Dubai longer than they think, but are failing to safeguard their future, reveals a consumer poll conducted by the DIFC Wills and Probate Registry (WPR).

According to WPR's findings, 64 per cent of expatriates stay significantly longer in Dubai than they had originally thought. The majority of respondents have lived here at least three years longer than planned, and a staggering one in 10 people have stayed over 20 years longer than they expected.

More than 70 per cent of respondents felt that their life is here in Dubai, but nearly 60 per cent of respondents still don't see Dubai as a permanent home, citing that they will move back or move on to another country at some point in the future.

The findings highlight a huge gap between people's beliefs about their future in Dubai and the reality.

Life coach Zeta Yarwood said this perception gap affects the way people plan for their future in the city.

"Dubai is considered a fast-paced city which means time appears to move a lot quicker than expected - this is sometimes referred to as the 'Dubai bubble'. People are staying for the great lifestyle, but before they know it, 10 years pass and they may have acquired a family, property or a business that they hadn't originally planned for. They have had the time of their lives making the most of what Dubai has to offer, but they haven't got a grip on their more serious life admin. They must look further ahead."

The majority of respondents (77 per cent) agreed that time seems to move faster in Dubai than in their home country, and say that most or all of their friends have stayed longer than planned. However, despite 58 per cent of respondents claiming they had assets in Dubai, little more than 10 per cent have a will registered in this country.

Sean Hird, director, DIFC Wills & Probate Registry, said: "These insights indicate that Dubai is a place where expats are laying down their roots. It also tells us that it's time to start taking our future seriously and understand what our options are in Dubai. Since we opened last May, we have already registered over 1,700 wills, but we know there are many more non-Muslim residents with assets in Dubai that haven't taken action to safeguard them. Avoid leaving life admin too late: plan ahead while you can."

- business@khaleejtimes.com