Up until 2002, non-GCC (Gulf Cooperation Council) expatriates living in the UAE were allowed to rent property, or own property on a leasehold basis for a period of 99 years.
However, shortly thereafter, legislation began development that would allow expatriates to own property in designated areas on a freehold basis. Freehold properties endow the owner – expatriates and foreigners as well – to register a property in their name and receive fully-transferable property rights.
With this relatively new change in rules and regulations, Dubai (and the surrounding emirates) established a property ownership infrastructure that supports, defines, and streamlines the real estate process for foreigners.
That being said, we strongly encourage foreign investors to consult with an experienced brokerage and leasing firm before considering investing.
At Valoran, we will help you understand all the rules and regulations that apply to you, including what they mean and how they can benefit your portfolio.
We can help you determine if a property you are interested in:
can be owned by a foreigner;
can be registered with local authorities;
allows you to issue a title deed for the property at your discretion;
is held in such a way by the owning parties that allows them to transfer ownership to you;
is available and unencumbered by any unforeseen issues obstacles.
Investment opportunities in Dubai are as strong as ever. However, to protect yourself and to make sure you are making the correct investments, we invite you to contact us today.
One of our professional real estate experts will work with you to understand your needs and help you walk through every step of the process.