Who is eligible to purchase and own real estate in Dubai?
Dubai’s real estate market is highly accessible to both UAE residents and international investors, offering various ownership options depending on the buyer’s status and the location of the property. Here’s a detailed overview:
1. UAE Nationals and GCC Citizens
Eligibility: UAE nationals and citizens of the Gulf Cooperation Council (GCC) countries (Saudi Arabia, Kuwait, Bahrain, Oman, and Qatar) have the broadest access to real estate in Dubai. They are eligible to purchase and own property in any area of Dubai without restrictions.
Freehold and Leasehold: UAE and GCC nationals can own freehold properties across all designated areas and leasehold properties (typically for 99 years) in other areas.
2. Foreign Nationals
Eligibility: Foreign nationals, including expatriates residing in Dubai and international investors, are allowed to purchase and own property in Dubai, but only in designated freehold areas. These areas include some of Dubai’s most desirable locations, such as:
Freehold Ownership: In these designated freehold areas, foreign nationals can own the property outright, including the land on which it stands, without any time limit.
Leasehold Ownership: In some cases, foreign buyers may also have the option to purchase property under a long-term leasehold arrangement, usually for 99 years.
3. Corporate Ownership
Local Companies: Companies registered in Dubai or the UAE can purchase and own property in all areas where UAE nationals can buy.
Foreign Companies: International companies can purchase property in designated freehold areas, provided they meet specific requirements and are registered under the Dubai International Financial Centre (DIFC) or other approved jurisdictions.
4. Investment Visa Eligibility
Real Estate Investor Visa: Foreign nationals who invest in property worth AED 750,000 or more are eligible to apply for a renewable UAE residence visa. This visa allows investors to reside in Dubai and access various benefits associated with residency.
5. Legal Considerations
Title Deed Registration: All property transactions, whether involving UAE nationals or foreign buyers, must be registered with the Dubai Land Department (DLD), which issues the title deed as proof of ownership.
Inheritance and Succession: Foreign nationals owning property in Dubai can pass their property to heirs under UAE law, but it is advisable to have a will registered in Dubai to ensure that their wishes are carried out according to their preferences.
