Buying property in Dubai as a foreigner

Non-citizens of the Emirates are attracted to become property owners in Dubai, and there are many reasons for that. Top-class infrastructure, high-tech solutions, exclusive apartments with breathtaking skylines, and villas near picturesque waterfronts are only the tip of the iceberg. On top of that, by buying property in Dubai as a foreigner, you get economic advantages, tax, and visa benefits. 

This internationally famous UAE city offers quite a straightforward process of obtaining a living space for external residents. There are many aspects to consider, but you don’t have to figure out everything on your own. Experts from the Seven Lands agency will explain all the key points you should account for.

Buying property in Dubai: foreigners’ guide from Seven Lands

Why do non-locals invest in housing development in the innovative oasis? They are admired for a chance to enjoy fancy living and numerous possibilities for business development. Another benefit touches upon residency options. Though owning premises does not provide residency, if you invest in property over some value (for instance, AED 2 M and higher), you may receive a 5-10-year investor visa. 

Where can foreigners buy property in Dubai? 

Non-natives can acquire a housing estate in major neighborhoods such as:

• vibrant Dubai Marina and bustling Downtown Dubai;
• luxury Palm Jumeirah Island and beachfront Jumeirah Beach Residence;
• family communities like Arabian Ranches, The Springs, and The Meadows;
• exclusive Emirates Hills and high-tech Dubai Silicon Oasis;
• eco-friendly Al Barari and dynamic Jumeirah Lakes Towers.

As you see, an expat can buy property in Dubai and choose a new home in any of the city’s iconic districts. 

Documents needed for foreigners to invest in housing estate

Another point you should focus on is the list of personal documents to deliver. The typical pack includes:

• A valid passport
• Income proofs
• Residence permit/visa 
• Insurance

The bundle of documents may vary depending on the developer and your particular situation. A consultation with the Seven Lands team is what you need to prepare everything correctly, not missing a thing.

How to buy property in Dubai as a foreigner: taxes

Can expats buy property in Dubai tax-free? Of course, not, so this is another important aspect you should be aware of. However, it’s worth mentioning that the government offers a tax-friendly environment. You should not pay annual property and capital gains taxes, but there are mandatory fees you can’t ignore. 

Among the main ones you’ll deal with are:

• DLD (Dubai Land Department) fee: this is a 4% fee on the realty cost (you and the seller may split it upon mutual agreement)
• Registration fee: this is a standard sum of AED 2000 in case an estate costs less than AED 500 000, or AED 4 000 if the price exceeds AED 500 000 (also, include 5% VAT)

These are not all the taxes and expenses foreigners face when buying property in Dubai. For instance, you will also have to pay a 2% fee on the property value to a licensed broker. This is a mandatory fee, as you won’t be able to complete a transaction without an agent.

So, can I buy a house in Dubai as a foreigner?

Sure, you can own a fancy home in the largest UAE city if you want to. However, some risks still may arise. For instance, you might encounter an unscrupulous developer, find it difficult to cope with all the legal intricacies, be unsure which documents should be ready for the transaction, and so on. But can you buy property in Dubai as a foreigner, mitigating the risks? Sure, if you contact Seven Lands! We are a licensed agency with a team of experienced specialists who provide thorough analysis and selection of any type of estate and assist you in understanding all the details, including legal aspects.

If you are an expat buying property in Dubai and need qualified support, Seven Lands will become your best guide. We guarantee your safety and protect your interests. We do our best to meet all your requirements, so entrust everything to us and get ready to become a happy owner of a new property in prosperous Dubai!