GOLDEN RULESWe would like to give you a few helpful tips regarding purchasing property in the UAE. For this reason we have published a short description with some important information. We named this information our “Golden Rules” because we believe that they are very important for our clients.
This information comprises of some general tips, legal information and information about the extra costs involved when purchasing a property in the UAE.
If you would like to receive some more detailed information about our golden rules, please do not hesitate to contact us.
MOST IMPORTANT RULE:
You do not pay any commission to our company! Our services will be paid by the developer. Our prices are exactly the same with those of the developers but we will offer you with our knowledge of the property market the best investmant in the UAE. All property offers are described in detail because we are sure that you will respect our services without any extra costs for you! Contact us and we will find the perfect property investment for you!
1. Nowadays everybody can buy a propertyin the Freehold areas of the UAE.
2. Outside the Freehold areas you can only lease a property for 99years.
3. In 2006 the first real estate law for the Emirates has been adopted.
4. Since 2006 all properties are registered in the land registry.
The property will be registered after full payment of the purchase price.
5. Most property buyers are looking to buy an apartment or a villa in a large property project. Best offers are available if you buy a property "off plan", which means to buy before constructions starts.
6. The extra costs for the property purchase are 4%for the contract and registration and 3% agent's commission.
7. The ownership of a property can already achieved by signing a private purchase contract.
8. The ownership of a foreigner requires a written official sales contract.
9. If you buy a property, you can receive a residence permit for two years.
10. There is no transfer tax for the purchase of a property. It is a "taxfree paradise" and the rental income is also taxfre - the perfect place for an investment in real estate!