London family firm Vardags has entered into a joint collaboration with Dubai-based Trench & Associates.
President Ayesha Vardag (pictured) said the Middle East was fundamental to the firm’s strategic vision and that it would consider more joint ventures.
Vardag said London was ‘not yet’ at risk of losing its reputation as the divorce capital of the world.
She said: ‘The English equal sharing rule and generosity to claimant spouses means the English courts remain magnetic for the financially weaker spouse. But England is the divorce capital of the world because it’s the socio-economic capital of the world, and that could change in a heartbeat.
‘If England drives out its monied residents and Dubai keeps on attracting the world’s super-rich with its state-of-the-art fiscal system, safe streets and superlative quality of life, it’s only a matter of time.’
For English expats living in Dubai, it may be possible to divorce in England or Dubai, or in Dubai applying English law. The process and outcome could be ‘radically different’ depending on which option is chosen.
Vardag said: ‘In general terms, it’s well-known that in Dubai divorcing husbands and wives keep what is theirs, with maybe a short period of financial support for wives, whereas the English courts are famous for carving up the marital pot on a 50-50 basis and making huge “needs”-based payouts even after a short marriage.
‘Also, the Dubai divorce courts don’t deal with foreign property so if there’s something significant like a home or company abroad, say in England, that’s going to be an issue.’