Ajman Free Zone signs MoU with DIFC Courts

The agreement was signed by Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of Ajman Free Zone, and Zaki Azmi, Chief Justice of the DIFC Courts

  
Ajman Free Zone signs MoU with DIFC Courts

Ajman: In support of Ajman Free Zone’s vision to provide an efficient business ecosystem, AFZ has signed a Memorandum of Understanding (MoU) with the Dubai International Financial Centre (DIFC) Courts to promote the public wills service provided by the UAE’s first English-language common law court.

The agreement was signed by Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of Ajman Free Zone, and Zaki Azmi, Chief Justice of the DIFC Courts. The two parties stressed the need for cooperation to serve the investment environment within Ajman and the wider UAE.

In 2015, the DIFC Courts established an additional ancillary service in the form of the Wills Service Centre, a joint initiative of the Government of Dubai and the DIFC Courts that gives non-Muslims investing and living in the UAE the option to pass on their assets in accordance with the instructions in their Will.

The agreement will encourage greater awareness of this unique public service, assisting to provide further protection of investment in the Emirate of Ajman, and complementing and reinforcing the overall service of Ajman Free Zone.

Sheikh Ahmed bin Humaid Al Nuaimi, Chairman of Ajman Free Zone said: “We are pleased to sign an MoU with the DIFC Courts as part of our vision to better our investment environment within the Free Zone and bring it in line with international standards with a view to attract more capital and investors. In AFZ, we do everything we can to overcome the difficulties and enable investors to conduct their business efficiently and achieve their accomplishments while maximising the overall contribution to the Emirate GDP."

Zaki Azmi, Chief Justice, DIFC Courts said: “Recognising the increased demand, in 2019 the DIFC Courts amended its rules to expand the remit of this public service to assets held across the UAE and beyond. This cooperation agreement is another step towards creating greater awareness to residents and investors in the Emirate of Ajman. As the first jurisdiction in the MENA region to offer this service, registration of wills made by non-Muslims with the DIFC Courts ensures one’s assets will be distributed in accordance with his or her wishes and providing certainty.”

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About Ajman Free Zone:

As part of Ajman vision 2021 and the greater UAE Vision 2030, Ajman Free Zone plays a pivotal role in boosting the economy of Ajman by attracting and sustaining investors within a dynamic business eco-system that will enable their growth and success. Its strategic location, close to two airports and a short distance from Ajman Port is a key contributor to its appeal as a major business destination for both regional and international companies looking to accelerate their growth plans. It remains dedicated to a progressive and innovation agenda which has seen the creation of a digitized communications portal aimed at simplifying business set-up. It also offers a diverse range of license types, a wide range of infrastructure, support services and workers’ accommodation aimed at nurturing businesses. AFZ, along with stakeholders is focused on making the business set-up process easy and simple to help businesses succeed and grow, The organisation is committed to diversifying its portfolio, attracting sectors which offer strong growth potential.  These include Education; Food & Beverage; Retail; Information Technology and Health, amongst others.  The aim is to create a progressive and sustainable economy which can guarantee the future prosperity of the Emirate of Ajman and the UAE.  

About the DIFC Courts

The UAE’s DIFC Courts administer a unique English-language common law system – offering swift, independent justice to settle local and international commercial or civil disputes. The Courts, based in Dubai, provide certainty through transparent, enforceable judgments from internationally-recognised judges, who adhere to the highest global legal standards. The DIFC Courts are independent from, but complementary to, the UAE’s Arabic-language civil law system – offering a choice that strengthens both processes while ensuring public access to world-class justice.

In October 2011, a decree of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the UAE and Ruler of Dubai, opened the DIFC Courts’ jurisdiction to businesses from all across the GCC region and beyond to provide the international business community with access to one of the most advanced commercial courts in the world.

The DIFC Courts were established under laws enacted by the late HH Sheikh Maktoum bin Rashid Al Maktoum, Ruler of Dubai in September 2004. The Courts’ community-focused approach encourages early settlement, while its successful track record supports Dubai’s growing status as an international business hub.

In line with HH Sheikh Mohammed’s vision, the DIFC Courts serve to develop the UAE national workforce and enhance the competitiveness of Emirati advocates. The DIFC Courts are spearheading training programmes predominantly aimed at local Emirati lawyers, which offer knowledge of, and qualifications in, the English-language common law system.

For more information, please contact:

Raee Public Relations
Tel: +971 4 4506880, Fax: +971 4 3695482, Email: m.salim@raeeme.com 

© Press Release 2020

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