Dubai is a city where desert and sea merge, where modernity and tradition coexist. It has the world's most luxurious hotels, the tallest tower, the world's largest shopping mall... all of which seem to make Dubai one of the most special cities on the planet. Looking to buy a property in Dubai? Let's take a look at the Dubai buying policy first!
1. Security of title
A foreigner who purchases a property in Dubai acquires a freehold or 99-year title, which may be renewed upon expiry of the 99-year title. Both types of property rights can be transferred by inheritance, resale, assignment, mortgage, or commercial operations. When a transfer of title occurs, only a 2% transfer fee is required.
2. A permanent visa for the whole family
Foreigners buying a property in Dubai can get permanent visas granted by the government for their entire family. The family permanent visa does not cover parents and children over the age of 18. Permanent visas are renewed every three years.
3. Tax exemption
Dubai is a tax-free emirate. There is no tax on businesses or individuals. There are no business taxes such as sales tax, income tax, or VAT. There is no income tax for individuals. There are no property taxes or other real estate taxes on real estate. As a result, the income earned by foreigners investing in real estate in Dubai can be fully owned.
4. Free access to foreign exchange
There are no foreign exchange controls in Dubai and foreign investors are free to move their foreign currency in and out of the city.
5. No taxes or fees for visa
There are no taxes or fees on home transactions or transfers. There is no tax on the purchase, transfer, lease, or gain of a property in Dubai. Acquire property in excess of AED 1 million to obtain a permanent Dubai visa.