How to buy stocks in the UAE
Buy real estate in the United Arab Emirates - that's how it works
(Almost) always nice weather, a breathtaking skyline and one of the tourist hotspots of recent years: Dubai has a lot to offer. Since the end of 2001 real estate in Dubai has also been sold to foreigners. Approximately 80 percent of the residents of the United Arab Emirates (UAE) are actually foreigners who have had the opportunity to invest in private and commercial real estate since 2001.
Many tourists, celebrities and Dubai fans from all over the world have actually used this opportunity in the last 17 years. This is particularly due to the fact that buying a property in the UAE comes with many advantages, while the development of property prices in Germany is appalling.
The real estate purchased is used either as a pure financial investment, as a domicile for vacation or by emigrants as a new place of residence.
In the beginning, when the real estate market was opened to foreigners, it often happened that properties were only sold for a limited period of 99 years. In the meantime this has been changed so that it is possible to buy the objects for an unlimited period of time. Since selling real estate to foreigners in Dubai has proven to be a very lucrative business, other emirates have quickly followed suit. Here, too, real estate can now be bought by foreigners in many places.
Advantages: What real estate buyers in the Emirates can benefit from
There are a number of advantages associated with buying a property in the Emirates. A clear plus point when buying property in the UAE is the value for money, which is still very good so far. When compared to other maintenance costs, rents in the UAE are extremely high. This has sparked a real boom in property purchases, as financing a home in the UAE is usually cheaper than renting a house or a large apartment.
Foreigners have the opportunity to purchase houses, apartments, villas, office space and also land in the Emirates. The latter can be used for commercial or private development. The location is not freely selectable, but restricted to designated areas such as “The Palm”.
One advantage is that people who buy a home in Dubai can apply for a residence permit under certain conditions. This is not included in the property price, but can be extended as often as you like, as long as you are the legal owner of the property.
In addition, buying real estate in the UAE has other advantages:
- Little crime - The UAE is one of the safest countries in the world in this regard
- Sunny weather all year round
- Residence in front of the sea
- Very modern infrastructure
- High standard of living
- Free transfer of profits and capital
- Double taxation agreement with Germany and many other nations
- The real estate market is still experiencing a performance
It should also be noted that the Emirate of Dubai generally does not levy any property tax, sales tax, wealth tax, capital appreciation tax, housing tax, inheritance tax, income tax, corporation tax or capital gains tax. As a result, the tax rate is zero percent.
Income from the sale, rental, leasing or inheritance of a property does not have to be taxed.
How to find suitable real estate and the United Arab Emirates
The All Realestates website is a good place to go to find the right property. This is the most important real estate marketplace in Dubai that provides important information to both prospective tenants and buyers. Current real estate offers can be found on the portal as well as further information that makes buying a house in Dubai easier.
At the moment there are over 700,000 properties in the real estate portal's database that are being sold and rented out. The search for the right property is made easier by the free assistant that is available to anyone interested. With it, it is easier to find a suitable property in the desired location at the right price.
Measured by the number of offers listed, All Realestates is already the largest real estate portal in the United Arab Emirates. Nevertheless, it is to be expanded further in the next twelve months.
For this, the support of WOS Swiss Investments AG is used, which would like to invest up to 20 million dollars in All Realestates in the coming year. In this way, the portal should become the most important and largest real estate marketplace in the Middle East.
What prospects should know before buying
Interested parties who are thinking of buying property in the UAE should know that there is currently no law at the state level that allows foreigners to acquire property or land. The individual emirates decide independently whether or not real estate is released for sale to foreigners in selected zones.
Before buying a property in the UAE, you should research the annual ancillary and maintenance costs that will be incurred after the purchase. In addition, objects should only be bought from brokers who are registered with the Real Estate Regulatory Authority (RERA), i.e. the real estate office. Every registered brokerage house has a registration number and a corresponding ID.
Also, people who have decided to buy property in the UAE should consider starting an offshore company before buying. Every property acquired in Dubai is entered in the land register and the owner receives a title deed known as a "Title Deed".
Foreign Funds: Double Taxation And How To Avoid It Final Gong Series: The Best Tax Tips For Investors. Part 1: How to avoid double taxation on foreign funds. > read more
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