Dubai’s real estate market is one of the most dynamic aspects of the city. People from all over the world are welcome to own and invest in properties here. Being a tax haven, Dubai offers a lifestyle like no other.
You are eligible to purchase property in Dubai as a foreign national in designated areas only. These properties are called freehold properties.
The Dubai Land Department needs full disclosure of the actual individual owners of each company owning real estate entities in the country.
In Dubai, you can own property under your offshore company license if it is located in RAKICC or Jebel Ali Free Zone Area only. Earlier, it was only JAFZA Off-shore companies that were allowed to own freehold properties in Dubai.
Offshore companies registered under international jurisdictions like Seychelles, Hong Kong, British Virgin Islands are not allowed to own properties in Dubai.
If you own an onshore company in Dubai, like limited liability companies and private joint-stock companies, you can own properties in the freehold areas. You can choose to not have UAE nationals as shareholders in your company, as it is not mandatory for this purpose.
While owning a property has a myriad of benefits, using a company license to own the said property offers you many advantages too:
For more information, get in touch with us at Provident