UNITED ARABIC EMIRATES

1. As of 2002 there are no restrictions for foreigners buying properties in the Free Hold Areas of Dubai. In four other Arabic Emirates the purchase of
properties to foreigners is now allowed.

2. Outside the Free Hold Areas foreigners can only lease a property (99-years Lease).

3. In 2006 the first property law for the Emirate of Dubai was passed.

4. Since the constitution of the property law all properties are registered in the land register. Registration is carried out after the total payment of the
price.

5. Most foreigners are interested in buying a completed house or apartment.

6. The registration fee is 2% of the sales price. The purchaser pays 1,5% and the vendor 0,5%.

7. The purchase of a property can be carried out with a private sales contract.

8. A foreigner requires a written sales contract in order to buy a property.

9. Anyone buying property receives a residence permit upon paying the agreed price.

10. The United Arabic Emirates is a paradise where tax payment is concerned. There is no land transfer tax, no property tax and no wealth tax.
Income of renting and leasing are also tax free. For these reasons the United Arabic Emirates is the ideal place for investors from all over the
world.