Marriage and Financial Obligations in the UAE

Marriage in Islam is a contract between a male and female which is upheld by law and aims to safeguard the rights of both parties and any future children. An Islamic marriage contract needs to be registered in a Sharia court within the UAE to be a legalised and recognised document.

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For non-Muslims, the marriage obligations in your home country should be observed. After the wedding itself, big financial decisions need to made, including on your mortgage, paying bills, and budgeting for expenses – factors which also apply to married couples who decide to decide to move to Dubai.

The Questions To Consider:

• Who will handle day-to-day finances, and who will manage any investments or savings?
• Do you plan to have separate bank accounts or manage your finances together?
• Setting financial common goals with reference to these questions can be a great way to plan your future together, and depending on the complexity of your assets or goals, an IFA can help you outline a long-term plan for the future.

An IFA will be able to prepare a plan which addresses the following key points:

• The best ways to organise savings efficiently, including buying a house, providing for your children, tax planning and retirement. Mapping a budget to understand your finances as a couple.
• How to handle your bank accounts, including opening an offshore bank account should you require one.
• Health and life insurance.