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Buying a Property in Dubai
Can I buy a home in Dubai ?
As of May 2002 non-Emirati citizens were able to purchase freehold property within certain areas of Dubai. This was a major change to Dubai property law, as previously foreigners could only purchase property on a 99-year lease. This change in law sparked a property boom that has been growing right through to present day.
The decision was welcomed by the thousands of expatriate residents in Dubai and the regular overseas visitors who had fallen in love with the city. On certain properties, the main purchaser is entitled to apply for a residency visa.
A residentís visa does not entitle the holder to work. The main purchaser may re-apply for residency every 3 years indefinitely as long as the applicant is still a property owner and has not breached any Dubai regulations. The cost of a residency application is around £1000. This may vary between developers. There will also be an administration charge to arrange.
The main purchaser may then sponsor the rest of his family. The number of bedrooms in the property will determine how many resident permits may be allowed. Properties may be purchased jointly by a husband or wife but a main purchaser must be designated and the principle purchaser only will be allowed to apply for the residency visa. Once the principle purchaser has a residency visa then he/she will be allowed to sponsor other immediate family members. They will not be allowed to sponsor friends or partners.
A resident will be required to enter Dubai at least once every six months, for his visa to remain valid. There are other conditions, please enquire for full information, Vista Dubai can arrange for a Dubai company to assist with the application for a small fee.