Laws and Regulation About UAE Real Estate

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Laws and Regulation About UAE Real Estate

Post  umerakmal on Tue Apr 24, 2012 7:11 am

The UAE experienced a tremendous building boom up till 2008 when the financial crisis hit. During that period, foreigners wanting to invest in the UAE were plenty. Today, post financial crisis as the market here is recovering, that appetite to buy new property and lease better property is once again on the rise.
UAE and GCC nationals can own property in the UAE. As a foreigner in the UAE, owning and / or leasing property needs to comply with laws and regulations that change from time to time. That said, in Dubai and the UAE, property law is young and is still taking shape.

In the UAE, each Emirate has developed its own laws. For example, to the best of my knowledge, in Fujairah, foreigners cannot buy property. However in Dubai, foreign ownership of freehold real property is permitted. There are "free-zones" within each Emirate designated for specific use. Each zone is a tax-free jurisdiction and has its own rules and regulations. A company established in a free zone can be 100 per cent owned by foreign nationals and may own freehold interests in real property within that zone.

Choosing the right real estate in Dubai agent is crucial to getting the right information, price and ultimate deal. A bit of your own research on what is out there, and what you are willing to spend over how long would also be beneficial.

For more details visit: http://marketingiants.blogspot.com/2012/04/laws-and-regulation-about-uae-real.html

umerakmal

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