ADVANTAGES OF ACQUISITION OF REAL ESTATE IN THE UAE:
- Lack of taxes on real estate and on the profit of enterprises and individuals.
- Preferential conditions for foreign investors and a liberal currency regime
- UAE Political and Social Stability
- High quality of life
- Good geographic location
TYPES OF REAL ESTATE:
- Residential: villas, apartments
- Commercial: offices, hotels
- Shopping: shops, restaurants
REAL ESTATE LAW
Almost 6 years ago, on May 5, 2002, the ruler of Dubai, the prime minister and vice-president of the UAE, Sheikh Mohammed bin Rashid Al-Maktoum, by a special decree, allowed the sale of land and housing to foreigners in Dubai in full ownership. This decree was the impetus for the start of the construction boom, which has not calmed down to this day. It was only on March 14, 2006 that the law authorizing the original document was published. The new law consists of 11 chapters, including 29 articles. Its exact name in translation into Russian is "The Law on Registration of Real Estate".
THE FOLLOWING PROVISIONS OF THE LAW BECAME THE FOLLOWING PROVISIONS:
- citizens of the UAE and the Persian Gulf countries have the right to purchase property in full possession, as well as for leasing for 99 years anywhere in the emirate of Dubai;
- Persons who are not citizens of the UAE or the Persian Gulf countries have the right to acquire land and property in full possession and leasing in specially designated territories. The territories reserved for real estate for foreigners are the areas where the three largest developers are working - Nakheel, Emaar and Dubai Properties. Accordingly, the real estate of small developers operating on the sites of the above companies, also acquires the status of "freehold".
NECESSARY DOCUMENTS FOR REGISTRATION OF THE CONTRACT OF PURCHASE AND SALE:
Investor’s passport, the contract will be executed after the first installment. There is no commission fee when purchasing real estate directly from the developer. When buying real estate in the secondary market, the commission of a real estate agency is about 2% of the transaction amount plus a transfer fee (fee for re-registering a transaction from a previous buyer to a new one) in the amount of 1.5 -3%, depending on the project.
 ASTORIA from $ 2310 / sq.m. Delivery 2008. Dubai, Jumeirah Village. Studio, 1-3b / r, 50-221 sq.m. |  DUBAI MARINA from $ 4000 / sq.m. JBR project completed. Studio, 1-5b / r, 64-420 sq.m. |
 BUSINESS BAY from $ 3527 / sq.m. Delivery 2008-2012, Offices 70 - 300 sq.m. |  ARMADA from $ 4100 / sq.m. Delivery 2007. Dubai, JLT. Office 65-180 sq.m. |
