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Frequently Asked Questions

Question about selling

Yes, any nationality can own a property in specific freehold areas in (Dubai – Ajman – Sharjah – Abu Dhabi Island) and the heir can inherit it.

Abu Dhabi has 9 areas where foreigners are allowed to own real estate, which are:

Yas Island – Saadiyat – Al Reem – Al Maryah – Lulu – Al Raha Beach and Seih Al Sedira – Al Reef – Masdar City

Law No. (19) of 2005 on real estate ownership allows expatriates to own real estate in the form of apartments only, without land, through several forms of ownership:

The Abu Dhabi government offers four main systems that allow foreigners to own real estate in the emirate.

property system

Certain title deeds for foreigners include the ownership of housing units without land for a period of about 99 years, and gives them the right to fully dispose of the apartments and villas they buy without land.

Musataha system

Foreigners can own housing units within certain investment areas under “musataha” contracts for a period of 50 years, renewable by agreement of the parties for a similar period, which enables construction on unused land. Musataha contracts entitle the owner to enjoy the use of the property and build it or change it during a specified period of years.

benefit system

Foreigners can own housing units within certain investment areas under “usufruct” contracts for a period of 99 years. The usufruct contract entitles the owner to enjoy the use of the property and its facilities without the ability to change it.

Long term rental system

The right to rent units for an initial period of no less than 25 years.

Foreigners are allowed in Dubai:

  • Ownership in areas designated for freehold areas
  • Acquisition of the right to own real estate, an absolute ownership that is not restricted by time
  • The right to usufruct the real estate, or the right to lease it for a period not exceeding 99 years in the areas specified by the Land Department.
  • Freehold refers to the type of real estate purchase, where the buyer owns the plot of land in addition to the unit. He/she is the owner of the land and has the title deed in his name. The heir can inherit absolute property from the title deed holder. The owner of a freehold property has the right to rent, occupy or sell his property. The owner can use the property for any purpose as long as it complies with local rules and regulations.

Freehold properties are introduced here to encourage foreign investment in Dubai and the most popular freehold areas for expats to buy real estate include Dubai Marina, Emirates Hills, Al Barsha and Palm Jumeirah. “

 

Yes, you can sell a property on the map before its completion date.

Once all the required documents are arranged, it takes an average of 30 minutes to register the sale.

When buying a freehold property in Dubai, the following documents must be submitted:

 

  • Valid passport
  • Emirates ID (if you reside in the UAE)
  • Reservation form
  • Credit card form also in case of card payment (usually for international customers)
  • Filling out CIF, i.e. Customer Information Form (in some cases)

Based on the latest figures and reports issued by the Land Department, the number of real estate transactions in Dubai recorded a significant increase, especially in the second quarter of 2020, and this is the result of the decisions and firm measures taken by the Dubai government in dealing with the Corona pandemic, and therefore Dubai is considered one of the most countries in the world. The world and the best countries for real estate investment are safe, and this would be a reason for real estate investment in the UAE.

On the other hand, we noticed a decrease in real estate prices at the beginning of the pandemic, and soon they gradually returned to rise, and prices are expected to rise and return to their previous era in the coming period, so it is recommended to take advantage of this period and buy, rent or sell real estate after a period of time, that is, when prices rise something Little by little, as for the Emirate of Dubai, it is teeming with real estate projects in different locations

The issue of buying and renting residential real estate is one of the most popular real estate investment methods in the world, especially in the United Arab Emirates, especially if the property is in one of the most prestigious and promising areas of Dubai and Abu Dhabi, you will definitely be on a date with a high and long-term investment return.

Especially if you are an investor in one with stunning views and more than wonderful service facilities, you are here on a date with high rental returns and for life, which may open the door for you to think about buying another property and renting it, and so on until you become a large investor that generates money on it monthly or quarterly Annual or annual and for long periods.

These best real estate investment methods are considered low-risk and promising high profits for life, as the investor guarantees a financial return as long as there is a tenant of the property, and even if he is forced and needed, he can take advantage of this property for personal purposes at any moment.

A manager’s check “bank check” must be brought in the name of the seller or a certified acknowledgment from the seller that he has received the full value of the property certified by the notary public or the Ministry of Foreign Affairs.

Yes, an agent can be appointed on behalf of one of the parties in the event of a first-degree relationship between the principal and the agent, or in the event of obtaining written approval from the Real Estate Registration Department at the Dubai Land Department, and the fees for the procedure are double.

Registration of property for foreigners is limited to the areas specified for foreign ownership, provided that a license is obtained from one of the free zones in Dubai.

Freehold means full ownership of the property by the buyer whose name will be on the title deed. Whereas, a lease agreement refers to owning the property for rent for a period of more than 10 years and up to 99 years. can not be bought

The buyer and seller sign a Memorandum of Understanding if it is a property purchase from a retailer. A memorandum of understanding is an agreement between a seller and a buyer about the terms and conditions of a sale transaction.

In the case of purchasing a property directly from the developer, the SPA is signed. A Sales Purchase Agreement, or SPA, is an important document that you sign with the developer that contains all the terms and conditions agreed about the sale transaction.

Real estate buyers/owners can obtain a power of attorney with a valid and duly certified power of attorney. Such a person with a power of attorney can have the right to dispose of the property on behalf of the client, as indicated in the power of attorney. The power of attorney is valid for purposes such as selling, mortgaging and gifting and is valid for two years. In the case of purchasing with an official power of attorney, the aforementioned power of attorney is valid for 2 years from the date of documentation with a notary public.

No, if you are based abroad, you do not have to pay any tax.

The title deed is the document registered with the Land Department that shows the ownership of a plot of land. If you purchased the property with real estate financing, your name will be included in the title deed as the owner of that property. The original title deed is held by the bank as security until the financing is fully repaid.

Question about renting

Residential apartments:

 

  • Passport copy (original passport for verification only)
  • Valid residency in the UAE for residents
  • marriage contract
  • A valid salary certificate or bank statement for the last three months

 

Payment requirements:

 

  • A maximum of four (4) checks for the rent value
  • (5%) minimum insurance of 3000 dirhams
  • (5%) commission

 

Units / Shops

 

  • Company Profile
  • Owner’s passport (original passport for verification only) or authorized signatory
  • Valid residency in the UAE for residents
  • Commercial license
  • Memorandum of Association for Limited Liability Companies
  • power of attorney
  • Company Seal

 

Payment requirements:

 

  • A maximum of four (4) checks for the value of the rent
  • (10%) Insurance
  • (5%) commission

Ejari is an Arabic word meaning “Ejari”. It is an online electronic registration system to organize and register every tenancy contract in Dubai. It is the system used to document all rental transactions and ensure that all contracts are completed legally. The Ejari system makes Dubai’s rental market one of the most regulated in the world.

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Yes, you will have to complete the Ejari program before applying for DEWA.

The tenant needs to provide a valid passport and a copy of a valid residence visa. Originals of both documents must be produced and submitted by the tenant to the real estate broker. If it is a charter company, he will have to provide a valid business license, a copy of the passport of the general manager (if he is signing the agreement) and a valid passport of the occupant.

Yes, the rental contract must be registered with Ejari for the contract to be valid. Without this, no claims can be considered, as per the law.

Yes, as a tenant you can terminate your lease, as long as you notify the landlord 2 months in advance and you will have to pay 2 months rent as cancellation from the day you vacate the property and you have to settle all the utilities. Invoices.

No, landlords cannot dismiss DEWA Empower and any other utility service to evict the tenant of the property.

Questions about home finance and mortgage

Real estate financing is a loan that enables you to purchase a property for residential, investment or commercial purposes. Financing is secured by the financier against the real estate you purchase. The mortgage is repaid in monthly installments to the financier, which usually includes the interest/profit rate and an amount towards the principal amount borrowed.

All types of real estate, whether freehold, own under a certain period, real estate or plots of land granted.

Land financing exists and can be provided to assist both in purchasing a plot of land and building on the land.

A mortgage broker, otherwise known as a mortgage advisor, is an independent advisor who is able to carry out the necessary transactions between you and the bank to finance the purchase of your property.

The benefit of hiring one of our mortgage brokers is that we are able to offer advice with our expertise to help you get the best mortgage product suitable for your application without bias towards a particular bank. We will discuss all the available options with you and give you our opinion on the best option for you, so that you can make the right decision.

Our home finance consultants will guide you through the process of buying a property in the UAE and make the process of obtaining home finance easier.

We also have access to exclusive mortgage products that are not available when going to the banks directly.

Financing for a property under construction is available and we can help you with this. However, it is important to note that real estate loans for the purchase of a property under construction are mostly limited to projects developed by the largest and most stable real estate developers.

Yes, this process is easy for non-residents of the UAE to obtain real estate financing. If you are a non-resident and wish to obtain a mortgage in Dubai, Abu Dhabi or any other emirate, we will ask you for a three-month bank statement proving affordability and a copy of your passport.

Yes sure! For your first purchase, you can borrow up to 75% of the property value if the property value is less than AED 5 million. If the property is more than AED 5 million, as an expat you can borrow up to 65% of the property value.

Anyone can get real estate financing within the UAE as long as they can prove their income. Income can come from a variety of sources including salary, commissions and rental returns. Contact one of our mortgage brokers to discuss your case.

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