Property Investment in Dubai

If you have landed here, chances are that you are seriously considering to come up with a business franchise in UAE or at least hope to buy a property in Dubai. Well, you’re in luck, because in this blog, we will discuss all that and more!
In recent years, UAE, and Dubai in particular, have become a hotbed for investors. Its tax-friendly policies and cosmopolitan lifestyle have literally taken the world by storm. This in turn has led to the Dubai property investment boom. Its glittering skyscrapers, amazing islands, and sky-high yields, have together turned it into a desert defying boomtown.

Introduction to Dubai’s real estate laws

The burgeoning real estate scene in Dubai is watched over and regulated by the DLD or Dubai Land Department in tandem with RERA a.k.a. the Real Estate Regulatory Authority. In fact, it is the latter which makes sure that all real estate laws/ regulations are strictly followed.

According to experts, Dubai’s real estate market and the real estate laws in Dubai have together played a major role in stabilising the market, which in turn has led to an influx of investors and buyers.

Here’s everything that the DLD maintains in Dubai.

• Keeps tab on law firms, insurance companies, and banks, involved in real estate
• Authorises qualified agents and developers to operate legally
• Makes sure that agencies and their ads are trustworthy and legitimate
• Keeps a watch on the real estate market for sustainable growth
• Resolves and and all tenancy disputes
• Maintains records of tenants and landlords for transparent renting experiences

The modern rental laws in Dubai make sure that both the landlord and the tenant have a fair experience as both their rights are protected. Here are a few important clauses that are worth mentioning.

• Landlords can increase the rent of the property only if the property meets certain rules/ criteria
• The tenant agreement has to be for a year and not less
• The landlord can hike the rent only during the time of tenancy agreement renewal, and has to provide a written notice for the same at least 90 days in advance
• In case of a rental disagreement, both the tenant and the landlord have to approach the Rental Dispute Centre Dubai

Contact Us with the Gurcan Partners team for customized solutions and effortless international operations! Please feel free to reach out via email at info [@] gurcanpartners.com

Why buy property in Dubai?

Well, there are many factors that make Dubai property investment a lucrative deal for foreigners, but why believe us? Let numbers do the talking!

So far we have assisted over 500 companies.

• You’d be pleased to know that Dubai has no annual property investment taxes. Yes, you read that right! And that’s why, investors and entrepreneurs from around the globe are being drawn to Dubai, which explains the rise in the number of UAE property investment visa requisitions every year.
• There are no capital gains or private income tax either. The Dubai Land Department charges a one-time ownership transfer fee of 4% upon successful purchase of a property.
• Dubai is home to amazing residential properties and is hoping to attract 23 to 25 million visitors by the end of 2025. It has been experiencing steady growth through years and generated AED 180 billion in 2023.
• Dubai currently offers a 2-year renewable visa with a $272K property and a 3-year renewable visa with a property worth over $544K. For those who spend more than $2.7M, they get a 10-year renewable visa.

Gurcan Partners, together with its subsidiary Gurcan Invest, is here to support you every step of the way in your property investment process in Dubai.

Property ownership and inheritance laws in Dubai

If you are seriously considering buying property in Dubai, Article 4 of Law No. 7 of 2006 states that almost anyone can buy a property in Dubai, if he or she is a GCC citizen or a UAE citizen, wherein GCC refers to the member countries of the Gulf Cooperation Council. This law thus includes Emiratis, Saudis, Qataris, Omanis, Kuwaitis, and Bahrainis.

But what about foreigners? As an outsider, can you buy property in Dubai? Yes, you can! However, there are specific terms and conditions for the same. According to Article 3 of Regulation No. 3 of 2006, foreigners and non-residents can also buy property in Dubai, but only in designated areas.

So, a foreign company can only lay hands on freehold, leasehold or usufruct properties in areas mentioned below.

• Palm Jumeirah, Dubai Marina, Al Barsha South 2, and Al Barsha South 3 in Western Dubai
• Ras al Khor, Al-Qouz Industrial Area 2, Al-Qouz Industrial Area 3, and Mirdif in Eastern Dubai
• Al Jaddaf, Emirates Hills 1, Emirates Hills 2, Emirates Hills 3, Al Rowyah, Sheikh Zayed Road, and Umm Hurair 2 in Central Dubai
• Sofouh 1, Sofouh 2, Warsan 1, Nad al-Sheba, Al-Qouz 3, The World Islands, Jebel Ali, and Palm Jebel Ali in Southern Dubai

As for inheritance, the new property investment law in Dubai can be a little tricky to navigate through. How so? Well, if you have dual citizenship, the inheritance laws of the other country will also be taken into consideration. Usually, people are expected to have a legal will that passes down the property legally to them, but if not, Dubai courts will have to step in and determine the outcome.

Gurcan Partners stands ready to provide comprehensive support throughout every stage of real estate investment in Dubai. Please feel free to contact us via email info [@] gurcanpartners.com

Golden Visa in Dubai: What is it?

Golden Visa is a special, long-term residence visa for foreigners to live, study, and work in the UAE. It is applicable for entrepreneurs, scientists, investors, graduates, and few other people. Some of the exclusive benefits that you can enjoy as part of having the Golden Visa, are listed below.

• Six-month entry visa: When you first apply for the Golden Visa, you get a 6-months entry visa. This allows multiple entries during this time, so you can complete the process of the long-term residence permit.
• Long-term residence: With Golden Visa, you can decide to go for a 5-year or 10-year residence visa. It is completely renewable and so, you get to stay in UAE for as long as you wish.
• No sponsor needed: Unlike some of the other UAE visas, people who have a Golden Visa don’t need a sponsor. This gives people full control over their residency.
• Travel flexibility: Golden Visa holder can stay outside the UAE for more than six months and still have his UAE residence visa valid. This is particularly great for people with families abroad or those who have business commitments elsewhere.
• Sponsor your family with ease: One of the standout features of the Golden Visa in Dubai is the ability to sponsor your loved ones i.e. your spouse and children, no matter their age.
• Family stability upon your passing: In case the primary holder of the Golden Visa passes away, the family can continue live in the UAE until their permit expires.

Check our article about Golden Visa in Dubai.

Opening a franchise in the UAE

Looking to take an entrepreneurial journey? Want to open a franchise in the UAE?

Franchising is a great way to start a business, especially due to the region’s diverse market and strong consumer base. You can start with selecting a business that aligns with your goals, and registering your business with the local authorities. You will also need to get yourself a trade license. However, for this, you will either need to partner with a UAE national or set up your business in the free zone. To know more on this, feel free to connect with our team at Gurcan Partners.

Gurcan Partners stands ready to provide comprehensive support throughout every stage of your process in Dubai (Franchise in the UAE). Please feel free to contact us via email info [@] gurcanpartners.com

Conclusion

Setting up a business in Dubai is a rather smooth process for foreigners, especially when you know the rules and the ins and outs of the regulations. Moreover, the city has investor-friendly policies and transparent regulations. Whether you are looking to set up a business or want to acquire a luxurious property investment, the place offers endless opportunities. That said, things like obtaining UAE tax residency, a UAE property investor visa, or adhering to real estate laws in Dubai requires expert guidance. This is where we shine!

At Gurcan Partners, we’ve been helping businesses/ clients for over a decade – to make their dreams of living, investing, and thriving in Dubai a reality. Our team of seasoned professionals and legal advisors can simplify it all for you. From due diligence and risk management to understanding international trade legal compliance, we’ve successfully built a reputation for delivering outstanding results.

Over 400 international companies have trusted to choose us as their partners, as we understand the nuances of Dubai’s real estate and business landscape, and so, you can do it too. Your success in Dubai is just a call away! Contact our team of experts now!

Gurcan Partners UAE Office

Address: Sheikh Mohammed Bin Rashid Blvd, Boulevard Plaza, Tower 1 Level 9, Dubai, UAE
Email: info [@] gurcanpartners.com

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