The Deposit Gift Letter Template is a crucial document used in the United Arab Emirates when one party wishes to formally document the gifting of money to another party through a bank deposit. This template is designed to comply with UAE Civil Code (Federal Law No. 5 of 1985), Islamic Sharia principles regarding gifts (hiba), and UAE banking regulations. It is commonly used for family gifts, inheritance planning, or other legitimate transfer of funds where the donor wishes to clearly document the voluntary and irrevocable nature of the gift. The document includes essential elements such as party identification, gift amount, bank details, and necessary declarations for legal and banking compliance. It may require additional documentation or notarization depending on the gift amount and specific bank requirements.
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1. Date and Place: Specific date and location of the gift letter's execution
2. Donor Details: Full legal name, Emirates ID/passport number, and contact details of the person giving the gift
3. Recipient Details: Full legal name, Emirates ID/passport number, and contact details of the person receiving the gift
4. Gift Amount Declaration: Clear statement of the exact amount being gifted in numbers and words
5. Bank Account Details: Recipient's bank account details where the gift amount will be deposited
6. Voluntary Declaration: Statement confirming the gift is made voluntarily and without consideration or expectation of return
7. Ownership Transfer: Clear statement transferring all rights and ownership of the funds to the recipient
8. Signatures: Space for donor's signature and date
1. Witness Section: Section for witness details and signatures, recommended for larger gift amounts
2. Relationship Declaration: Statement describing the relationship between donor and recipient, useful for banking compliance
3. Source of Funds Declaration: Declaration of the legitimate source of gifted funds, required for larger amounts or bank compliance
4. Irrevocability Statement: Optional statement declaring the gift as irrevocable, recommended for significant amounts
5. Notarization Space: Space for notary attestation if required by bank or for large amounts
1. Proof of Funds: Copy of bank statements or other documents proving source of gifted funds
2. Identity Documents: Copies of Emirates ID/passport of both donor and recipient
3. Relationship Evidence: Documents proving relationship between parties if relevant (e.g., family book, marriage certificate)
4. Bank Requirements Checklist: List of additional documents required by the specific bank for processing the gift deposit
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