Terms of Buying Property in Dubai and UAE
The United Arab Emirates, with its vast oil reserves and highly skilled and committed rulers, has become an important and significant hub in the Middle East in the fields of tourism, economy, and trade, as well as international relations. Many European cities are in close competition.
This small but beautiful and rich country has a lot of potentials that it has used well, so it is so difficult to get a residence permit in the UAE, of course, to get anything valuable requires going through steps that show its value.
This article will show you how to get a UAE residency through one of the most popular solutions, namely buying property in Dubai (and UAE), please join us.
This article provides you with the following topics:
- Buy property in Dubai and stay in the UAE
- The amount of purchase is subject to residence
- Rental and property prices
Advantages and disadvantages of buying a property in Dubai
- Answering common and practical questions related to this field
Buying a property in Dubai is one of the ways that will lead to obtaining a residence in the UAE, of course, if the property meets the conditions adopted by the UAE government in this regard.
By buying Dubai (UAE) real estate, you can invest in real estate and live in the beautiful country of the UAE and have access to all the top facilities in the world that are available in Dubai. To do this, you need a minimum amount of 1,000,000 UAE dirhams to buy property.
By purchasing a property worth more than one million dirhams (or buying several properties whose total price reaches the above amount) and also during the process of obtaining UAE residence, you will be granted a 3-year renewable UAE visa. This visa can be extended as long as you own the property in the UAE and you also need to travel to the UAE at most once every 180 days, otherwise, your passport will not be stamped it may cancel your visa.
It is important to note that your residence is not subject to citizenship and work permits, as in the UAE, property purchase and work-related laws are separate.
Requirements subject to get residence:
- Having an apartment or villa in the UAE
- Locating a property in (locating property in Emirates of Dubai and freehold areas)
- Leasehold or 99-year lease of the property
- Suitability of the property for the residence of family members (in terms of area and property conditions)
- Pay at least 50% of the value of the property, if it is mortgaged
- Pricing of the property with a value of more than one million AED
- The property must be completed. off-plan property is not included in the residency condition.
- If the property is in the name of more than one person, for example in the name of a couple, the minimum value of the property must be 2 million dirhams (one million dirhams per person)
- The title deed must be issued and approved by the Dubai Land Department.
- The property must be under your name.
With the above conditions, your property has the conditions to receive a residence permit in the UAE, and you can apply for a residence permit in the UAE.
It is also can mention that commercial properties with a price of one million dirhams and above will also be granted residency.
Foreign investors who succeed in obtaining a visa and residency in the UAE for themselves and their family members (except boys 18 and above) Places to receive Emirates ID, driver’s license, SIM card and use and enjoy other facilities and benefits There will be UAE citizenship.
Duration of stay and amounts set for obtaining residence:
To obtain residency from the Emirate government is intended:
- 3-year residence, property over one million dirhams
- 5-year residence, real estate with a price above 5 million dirhams
- 10-year residence, property over 10 million dirhams
- UAE visa fees
- For foreign buyers and investors in the field of Dubai real estate, the cost of the steps and obtaining a visa is about 1,000 dirhams.
- It should be noted that for the UAE government, dual citizenship is not defined and a person must renounce his / her citizenship in order to receive UAE citizenship. Nor is it formally restricted in nature.
- Property ownership documents
- Proof of property value
- Original passport and its copy
- Health letter and medical confirmation
Rent in the UAE
In the UAE, as in other countries, property rents depend on:
- Type of property (whether it is an apartment or a villa)
- Year of construction and other benefits of the property
Also, the construction company (brand) has a role in the amount of rent and sales, because each real estate construction company, in interaction and competition with other construction companies, uses the necessities, facilities, and equipment with brands that have superior property.
For example, in Downtown Dubai rental and sale properties from different companies with different conditions have different prices.
In the table below, we have listed the rates of some rental properties for you.
Rental table of some properties in Dubai
|Apartment / Villa||Location||Rent(AED)|
|2||Apartment||Al Habtoor City||90.739|
|6||Apartment||Jumeirah Golf Estate||
|7||Apartment||Jumeirah Beach Residence||91.200|
The table below also shows the prices of some properties that have been bought and sold in Downtown Dubai.
Table of sales of some Dubai apartments in 2020
|Number of bedrooms||Price(AED)|
Some of the benefits of buying a property in the UAE:
- Enjoying and having all the up-to-date facilities of the world level
- Low crime rate (at zero) and extremely high security
- Excessive peace and comfort
- Non-payment of income tax and investment
- No need to obtain a visa to travel to many countries (approximately 160 countries)
- Adopting the best trade and investment policies and as a result high profitability in investment
- Having an international airport connected to all airlines in the world
- The possibility of living in the most prosperous and fun conditions possible
- The possibility of access to the highest quality and quantity of life necessities
- Ability to participate in the best colleges in the world located in Dubai
These are some of the things that Dubai’s global real estate investors will benefit from.
Disadvantages of buying UAE real estate:
- High price property
- High price life expenses
- High-temperature and humidity weather
Of course, it should be noted that these three categories are very insignificant and negligible compared to the values and benefits mentioned for buying and investing in Dubai, because by buying property in the UAE and Dubai, there is a possibility of return on investment, even today. The value of the property will be added day by day and you will have access to all parts of the world as well as all the facilities of the day, so the advantages of buying and living in the UAE can easily be attributed to its disadvantages.
Important points about buying property in the UAE
Dubai is one of the best cities in the world in every way and many investors have invested in it, and also because Dubai’s economy has gone through economic ups and downs and has reached a constant in this field, Therefore, it can be conclusively acknowledged that these three categories are the three main sides of the triangle proving the superiority of buying and investing in Dubai, so buying real estate in Dubai and investing in Dubai has been approved by many investors.
Before making a purchase, you should consult with a property consultant after receiving principled advice, knowing the projects and visiting them, as well as considering your requirements.
In this regard, dxboffplan.com will accompany you with its experienced and specialized consultants totally free of charge.
Expenses and financial conditions in Dubai
The UAE is a relatively expensive country, but it is a very popular country for investment and trade. The cost of living in the UAE is high, but on the other hand, maintaining the value of money, growing the value of money, living in the most comfortable conditions possible, access to the best and most up-to-date facilities in the world and, consequently, the profitability of this investment must be considered. Which compensate the other aspect
Answers to frequently asked questions in the field of buying and investing in UAE real estate:
1. Is it possible to get a UAE residence by buying a property in Dubai?
- Yes, if the property you bought is equal to or higher than the estimated amount (above one million dirhams), you will be subject to the UAE Residence Act.
2. Does buying property in the UAE include getting a work permit?
- No, buying a property and receiving a residence permit in the UAE does not include a work permit in the UAE. In fact, in the UAE, the laws governing the purchase of property and the laws governing a work permit are two completely different categories.
3. Is the UAE a safe and prosperous country?
- Yes, the UAE tops the list of safe countries with a crime rate of (zero), which has the happiest and most prosperous people in the world.
4. What are the VAT, income, and property laws in the UAE?
- There is no tax on property, value-added, income, and jobs in the UAE.
5. Is investing in the UAE cheap and affordable?
- The cost of living in the UAE (depending on the city of residence) is high, but due to the high value of the investment and the facilities provided to the residents, the high cost is well compensated.
6. Will investing in UAE real estate, obtaining a passport, and obtaining a residence permit lead to obtaining UAE citizenship?
- According to the new plans of the UAE government and with the adoption of a series of new laws and policies by the UAE government, the transfer of passports and citizenship has become possible for investors and property buyers.
7. Is it possible to get a residence permit and a passport for family members by buying a property in Dubai?
- Yes, by purchasing those Dubai properties that are subject to the residence and passport laws, you can get an Emirati residence and passport for your spouse and children (except boys for 18 years old and above).
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