Affidavit Of Financial Means Template for the United Arab Emirates
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What is a Affidavit Of Financial Means?
An Affidavit of Financial Means is a crucial legal document in the United Arab Emirates used to provide a sworn statement of an individual's financial position. This document is commonly required in various situations including court proceedings, visa applications, financial disputes, and personal status matters. The affidavit must be prepared in accordance with UAE Federal Law No. 11 of 1992 (Civil Procedure Law) and related regulations, requiring careful documentation of all assets, liabilities, income sources, and financial obligations. The document must be authenticated by authorized UAE authorities, typically a Notary Public, and may need additional attestation depending on its intended use. An Affidavit of Financial Means is particularly important in the UAE's legal system where accurate financial disclosure is essential for various legal and administrative procedures.
About the Affidavit Of Financial Means
An Affidavit of Financial Means is a sworn statement that legally declares your complete financial position under United Arab Emirates law. This document serves as official evidence of your assets, income, debts, and overall financial capacity, and carries the same legal weight as testimony given under oath in court proceedings.
When do you need this document?
You will need an Affidavit of Financial Means in several important situations within the UAE legal system. Courts frequently require this document during divorce proceedings to determine asset division and support obligations, or in civil litigation where your financial capacity affects the case outcome. Immigration authorities may request this affidavit for visa applications, particularly for investor visas or family reunification cases. Financial institutions often require sworn financial statements for significant loan applications or when establishing banking relationships. Additionally, you may need this document for inheritance matters, business partnership disputes, or when applying for government licenses that have financial criteria.
Key legal considerations
Your Affidavit of Financial Means must include complete and accurate information about all your financial circumstances. The document should detail your employment status, monthly income from all sources including salary and investments, bank account balances, real estate holdings, vehicle ownership, and any other valuable assets. You must also declare all debts, loans, credit obligations, and monthly expenses. Under UAE law, providing false information in a sworn affidavit constitutes perjury and can result in serious criminal penalties including imprisonment. The affidavit must be signed in the presence of a notary public or other authorized official, and you should retain copies of all supporting financial documents that verify the information you've declared.
Legal requirements in United Arab Emirates
UAE Federal Law No. 11 of 1992 (Civil Procedure Law) establishes the formal requirements for affidavits submitted to courts and government authorities. Your document must include your full legal name, Emirates ID number, passport details, and current UAE address. The affidavit must be notarized according to UAE Federal Law No. 4 of 2013 (Notary Public Law), which requires the notary to verify your identity and witness your signature. For court submissions, the document may need additional authentication from the UAE Ministry of Justice. If you're using the affidavit for international purposes, such as overseas property transactions, you may need further attestation from the UAE Ministry of Foreign Affairs and the relevant embassy or consulate. All financial figures should be stated in UAE Dirhams, and if you have international assets, you must provide current exchange rates and valuations.
GOVERNING LAW
Applicable law
This Affidavit Of Financial Means is drafted to comply with United Arab Emirates law. Key legislation includes:
UAE Federal Law No. 28 of 2005 (Personal Status Law): Provides framework for financial declarations in personal matters, particularly relevant when the affidavit relates to personal or family matters
UAE Federal Law No. 10 of 1992 (Law of Evidence): Establishes rules for evidence in civil and commercial transactions, including requirements for written declarations and their evidentiary value
UAE Federal Law No. 4 of 2013 (Notary Public Law): Regulates the notarization process and requirements for legally authenticating documents including affidavits
UAE Federal Law No. 20 of 2018 (Anti-Money Laundering Law): Provides regulations regarding financial disclosures and the declaration of assets, ensuring compliance with AML requirements
UAE Cabinet Resolution No. 57 of 2018: Regulations regarding sworn declarations and their authentication by government authorities
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