Dubai Property Buyers Guide

In the most favorable circumstances, the process of acquiring a property can be laden with stress and risk, necessitating informed guidance. Prior to making a property purchase decision, peruse our concise yet informative Buyer’s Guide, meticulously crafted to enhance the likelihood of a judicious and effective acquisition.

1. Eligibility

Dubai’s Real Estate market welcomes property buyers regardless of their nationality or location, whether residing overseas or within Dubai.

2. Documentation Requirements for Buyers:

As an individual:

  • Passports for all buyers
  • Signed Buyer Agreement (Form B)

As a company:

  • Incorporation Certificate
  • Articles of Association and Memorandum
  • Resolution of the Board
  • Power of Attorney
  • Signed Buyer Agreement (Form B)

As a foreign company:

  • Certification by the UAE Embassy for all the above
  • Signed Buyer Agreement (Form B)

3. Visa for Residency

Property owners are eligible for a visa provided by the Dubai government. Specific regulations may grant a 2 year, 5 year or 10 year resident visa (renewable) for properties valued at AED 1,000,000 and above. These rules may vary subject to immigration rules.

4. Leasehold and freehold

While Evantis Realty primarily deals with freehold properties, certain Dubai properties are leasehold, with terms ranging from 30 to 99 years.

5. Government Taxation:

No official government taxes apply to property acquisitions in Dubai. However, a 4% registration fee based on the property’s purchase price is payable to the Dubai Land Department upon property registration. If the property is mortgaged, a 0.25% registration fee of the mortgage value is also due.

6. Associated Fees:

Various costs are involved in property purchases, including:

  • 4% transfer fee to the Dubai Land Department
  • 0.25% mortgage registration fee to the Dubai Land Department and the developer
  • Service maintenance fee paid pro-rata by the buyer until the term’s end
  • Developer No Objection Certificate costs capped at AED 5,000
  • Property registration trustees fees of AED 4,200 for ready properties and AED 5,000 for off-plan properties.
  • An agency fee charged by Evantis Realty on all acquisitions

7. Service Fees

Service charges vary based on the property location and type. Annual community fees are paid by property owners in large community projects to the master developer.

8. Developer Obligations:

For off-plan properties, the developer’s responsibilities for timely completion are contractually governed. The sales and purchase agreement outlines approximate handover dates, with a degree of flexibility. Post-handover, developers are obliged to provide a 10-year warranty for property maintenance.