Interesting facts:
Full versionToday, real estate in the Emirates is no longer a luxury symbolizing unattainable financial opportunities and the preserve of the privileged few. Real estate in the Emirates is accessible to a wide range of investors with a sufficient budget that meets the minimum market requirements. Let's explore the potential of buying real estate in the UAE.
More and more foreign citizens consider the UAE as one of the possible investment destinations, from the moment the United Arab Emirates was known by the wave of active construction and legislative amendments, which provide for the possibility of real estate acquisition by foreign citizens, were introduced into the existing legislation.
The UAE's real estate is, for the middle class, both a chance to live in a top resort and an opportunity to invest in a growing market. Today, the Dubai megalopolis, the so-called "heart" of the commercial life of the Emirates, is the most popular among the foreign investors in terms of the real estate market.
This popularity resulted not only from the rapid pace of construction on commercial and residential premises. It became possible owing to the introduction of the specialized areas of the Freehold category on the territory of the Emirate. Foreign citizens are allowed to acquire the real estate and relevant land lots in such urban areas as private owners.
Clarify the cost of opening company, corporate or personal bank account, obtaining a residence visa, or another question regarding business in Dubai, UAE:
Owning real estate in the UAE entitles you to a residence visa (2 years with an investment of AED 750,000 or 10 years with an investment of AED 2,000,000) with all the associated benefits and opportunities. The property must be residential (industrial properties are not eligible). A residence visa in the UAE can be extended virtually unlimited times, provided you retain ownership of the property. In addition to the property owner receiving a residence visa, they can also sponsor and arrange residency for their family members – their spouse and children.
Visa processing time typically ranges from several weeks to several months, depending on the specific case. Therefore, by owning real estate in the UAE, you gain the freedom to visit the country at your convenience, live, study, or receive medical services in the Emirates. You can also get a job, but you will need a separate work permit, which is issued by the employer for the employee at the Ministry of Human Resources and Emiratization (MoHRE).
When purchasing real estate, you will be required to sign a maintenance contract. The owner is responsible for the upkeep of their property. Typically, maintenance includes garbage collection, 24-hour security, parking, and pool and grounds maintenance.
Regarding government taxation for property owners, there is no personal income tax (in some cases, municipal fees may apply), making real estate in the Emirates a consistently high investment opportunity.
Investing in another country is always an important step, and we are here to make it as comfortable as possible for you. Our specialists will help you find the perfect property, handle all the paperwork, and assist with visas for you and your family.
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