Things to Remember
When Buying Property in Dubai
Legal Framework
Anyone, whether based overseas or a resident of Dubai, can purchase a property in Dubai’s designated freehold areas as authorised in 2002 by the Ruler of the Emirate of Dubai, followed by a number of laws and by-laws as the Dubai real estate market was further developing. You are not required to hold any type of residency or similar permit to be eligible to purchase properties in Dubai.
Timeframes
Any natural or legal person can own a property in Dubai, though in case of registration under a company’s name, it must be incorporated in Dubai onshore zone or in certain dedicated offshore or free zones. Tower Group provides incorporation services for our buyers and will be happy to prepare the full set of documents for a property’s registration and maintain your company further.
Who Can Buy
An average resale property transaction in Dubai takes around 30 days to be finalized, starting from the date of the Sale Contract is signed by all concerned parties. Off-plan property deals are normally done within one day and sometimes take as little as 30 minutes. To facilitate the deal and save our clients’ time, we can work on the customer’s behalf under the Power of Attorney, and in this case the buyer will be free to travel according to the planned schedule, while we finalize the transaction.