Rights of Foreign Nationals When Investing in UAE
Updated: Oct 9, 2022
Today, international buyers have the same rights to own property as Emirates citizens. A foreigner can also get a resident visa after purchasing property and keep renewing it.
Since 2006, a non-UAE resident owner has been able to sell, rent, gift, or inherit their property.
Prior to the law's implementation in 2006, foreigners could only rent property for 99 years; as of right now, after a property transaction is registered, the buyer has full ownership.
The land department charges the buyer 2% of the cost of the villa or flat for its property registration when they purchase secondary housing.
Laws concerning owning a propery by expats are different from one emirate to another. These pages will provide information about regulations of buying a property in the UAE.
Real estate investors could think about purchasing pre-built homes. If you want to purchase an apartment at its lowest price and have the luxury of waiting one or two years for it to be ready to move into, this is a fantastic alternative.
Since the government oversees their compliance with construction agreements, there is no need to be concerned that the construction business may postpone the delivery of the project. As a result, every project is finished on schedule.