Strong Economy:
Dubai has a strong and diverse economy, with a focus on industries such as trade, tourism, and finance. The city has been consistently ranked as one of the top global cities for doing business, and it has a thriving start-up ecosystem.

Strategic Location:
Dubai is strategically located at the crossroads of Europe, Asia, and Africa, making it a natural hub for trade and commerce. The city is also home to the world's busiest airport for international passengers, making it easily accessible from anywhere in the world.

Stable Political Environment:
Dubai is part of the United Arab Emirates (UAE), which is known for its stable political environment and strong rule of law. This makes it a safe and secure place to invest, and the government is supportive of foreign investment.

Attractive Business Environment:
Dubai offers a range of incentives and benefits for investors, including tax-free income, 100% ownership of businesses, and a range of free trade zones. The city also has a supportive business environment with a range of networking and mentorship opportunities.

World-class Infrastructure:
Dubai is known for its world-class infrastructure, with modern roads, ports, and airports. The city also has a range of high-quality facilities and amenities, including hotels, shopping malls, and recreational facilities.

Dubai is a dynamic and attractive destination for investors looking to capitalize on its strong economy, strategic location, stable political environment, and world-class infrastructure. If you're considering investing in Dubai, now is the perfect time to take the first step.

7 Important factors you need to consider while buying an apartment, town house or villa in Dubai:

Location is the key:
One of the most important things to consider when buying property in Dubai is the location. You will want to choose a location that is convenient for your daily needs, such as being close to schools, hospitals, and other amenities. You may also want to consider the proximity to major highways and public transportation.

Layout and Size:
Another important factor to consider is the size and layout of property. Consider how much space you will need and whether the layout of the unit will meet your needs. Do you need a large living room for entertaining guests, or a spacious backyard for your children to play.

Quality of construction:
It is important to consider the quality of the construction. Dubai has strict building codes and regulations, so you can be assured that most units are built to a high standard. However, it is still important to carefully inspect the property before making a purchase.

Features and Amenities:
Many units in Dubai come with a wide range of features and amenities, such as swimming pools, gyms, and private gardens. Consider which amenities are important to you, and make sure the villa you are considering has them.

Price Range:
Of course, the price is an important factor to consider. Dubai has a wide range of property available at different price points, so you will want to carefully consider your budget before making a decision. Be sure to also factor in the cost of any additional features or amenities that you may want.

Market Resale Value:
Another critical factor to consider when buying property in Dubai is the resale value. Dubai's property market is growing quickly, so you can expect to see a good return on your investment if you decide to sell in the future. However, it is still important to do your research and make sure you are buying in a desirable location with good resale potential.

Legal Requirements:
Finally, you will need to consider the legal requirements for buying a property in Dubai. It is vital to work with a reputable real estate agent who can guide you through the process and ensure everything is done correctly.

In conclusion, buying a property in Dubai is an exciting and potentially lucrative decision. By considering the location, size, layout, quality of construction, features and amenities, price, resale value, and legal requirements, you can make an informed decision and find the perfect investment for you and your family.

In 2019, the UAE started to grant golden visas, which are residence permits for investors, entrepreneurs, scientists, professionals and exceptional talents. Getting a golden visa by investment formerly required AED 5 million to 10 million.

In 2022, the government approved new conditions for getting a Golden Visa in the United Arab Emirates by investment, with a reduced investment amount, no restrictions on the duration of stay in other countries and an opportunity to buy off-plan properties and take a mortgage. The new rules came into force in October.
You may purchase real estate in the UAE for AED 2 million ($545,000) to get a 10-year Golden Visa. Another option is purchasing real estate for AED 750,000 ($204,000) to get a 2-year residence visa.

Some of the benefits of the Golden Visa in the UAE are as follows:

• an entry visa for six months with multiple entries followed by the issuance of residency permits
• a long-term, renewable residence visa valid for 10 years
• a self-sponsored visa
• ability to stay outside of the UAE for any amount of time without having their visa nullified 
• sponsoring their family members, including spouses and children regardless of their ages
• sponsoring an unlimited number of domestic helpers
• allowing family members to stay in the UAE until the end of their permit duration in the event the primary holder of the Golden Visa passes away

You have the option for a residence permit or a residence visa?

The residence permit and visa for property owners grants temporary residency to qualified investors and their dependents on the basis of property ownership. The principal difference between the two is that the residence permit for property owners is renewable every two years for properties purchased in Dubai, while the multi-entry residence visa for property owners is renewable every six months and valid for properties in any emirate.

Mandatory minimum investment threshold

To be eligible for either the residence permit or visa, properties must be valued at more than Dh1 million. Mortgages are allowable for the residence permit, but if the property is mortgaged a minimum 50 per cent of its original price must be paid off, or Dh1 million must be paid off if the property’s value is more than Dh2 million.

Investment criteria

The investment property must be in a freehold area and entirely owned by the investor, with the title deed issued in the name of the applicant. Lease-to-own deeds are not accepted. Additionally, the property must be ready for the investor to move in and its size must be proportionate to the number of family members occupying it (if applicable). If the property is owned by more than one investor, the shared value must be more than Dh1 million, or a legalised marriage certificate has to be provided if the investors are married. Verification of the investment requirement is undertaken at the Dubai Land Department for the residence permit and the relevant immigration authority for the residence visa. Furthermore, there is a minimum monthly income requirement of Dh10,000 or equivalent in a foreign currency. The investor’s income source may derive from inside or outside of the UAE.

The vast majority of properties in Dubai that can be purchased by overseas buyers and ex-pats (non GCC Nationals) are 100% freehold, you will own the land that your house is on and a proportion of the land that your apartment building is built on. There are still some areas/communities and individual buildings in Dubai that are leasehold which in my experience is always less than 90 years so ask the question every time and check with your agent.

You don’t have to be a full-time resident in the UAE to own a company here. In fact, living abroad is no barrier to success in the Emirates. Most UAE business owners choose to reside in the UAE to make the most of the amazing climate, attractive business incentives, and thriving communities. But if full-time residency doesn’t fit your lifestyle, you can still reap the rewards of owning a business from afar.

First, you need to address important issues such as time spent in the UAE, tax implications and power of attorney. Working with a company formation specialist can help answer these three vital questions.

HOW MANY DAYS PER YEAR DO YOU NEED TO BE IN THE UAE?

When you know how long you want to stay, you can apply for the relevant visa. The exact amount of time a UAE business owner needs to spend in the Emirates may differ depending on what country they reside in. Technically speaking, those who do not reside full-time in the UAE do not need to spend any time here. However, it is likely you will want to visit occasionally (or maybe even regularly) to check on your business and meet management and other stakeholders.

What this means for you and your business: 

In most cases, you will require a visa or entry permit which stipulates the number of days you can spend in the UAE. It is important, therefore, to understand the different visa requirements for non-residents.

Citizens of GCC countries (Bahrain, Kuwait, Oman, Qatar, and Saudi Arabia) do not require a visa to enter the UAE and only need to show their passport/ID at their port of entry.

Citizens from the US, China, Australia, the UK and 16 other designated countries can get a 30-day visa on arrival. Those from 40 other listed countries can get a 90-day visa, as detailed on the official UAE government website.

These free, renewable visas will be particularly useful for those business owners who need to visit the UAE frequently.

Anyone outside the GCC and who is also not eligible to apply for a visa will be required to obtain an entry permit prior to arrival. This requires a sponsor which will usually be an Emirati citizen, an expat with a valid permit, a private company, or a free zone.

If you obtain your permit through your company or free zone, this will allow you to stay for a maximum period of 30 days from the date of entry. Once inside the country, you will then be eligible to apply for a residence visa which may allow you stay up to three years subject to certain conditions. While this does sound somewhat complicated, working through it with a specialist saves both time and money.

2. DO YOU HAVE TO PAY TAXES ON YOUR UAE INCOME?

Not necessarily. It depends on your country of residence. Again, depending on where you reside, you may or may not need to pay taxes on your UAE income. If you have a residence visa and spend more than six months continuously in the UAE, you are considered a tax resident here. As the UAE income tax is set at 0% you don’t have to pay anything on your income.

What you need to consider regarding taxes: 

Certain countries may take other factors into account such as whether you are accompanied by your family, where your main work or business is based, where your bank accounts are held, and where your property and other assets are located. The good news is the UAE has drawn up a series of double tax agreements (DTA) with around 100 different countries with ‘tiebreaker provisions’ to determine which country can tax your worldwide income. This helps you avoid paying tax twice unnecessarily.

However, there are notable exceptions, including the US and Australia, so it is important you obtain expert advice to ensure you don’t fall foul of the tax rules in your country of residence. As always, the onus is on the individual to understand and meet their obligations. Failure to do so can result in financial penalties and possibly even a criminal conviction.

3. CAN YOU APPOINT A POWER OF ATTORNEY FOR BUSINESS MATTERS?

Yes ,and it could be highly beneficial to do so. If you live outside of the UAE but own a company here, you may wish to appoint a power of attorney to handle business matters on your behalf. A power of attorney (POA) is a document that allows you to appoint a person or organization to manage your affairs.

How power of attorney affects the control of your company: Appointing a POA is an attractive proposition for non-resident business owners and can help ensure the smooth running of the business. A general power of attorney gives broad powers including the handling of financial and business transactions, buying life insurance, settling claims, operating business interests, giving gifts, and employing professional help.

If you want to specify exactly what powers an agent may exercise, you can sign a special power of attorney. Typical examples include collecting debts, handling specific business transactions, or selling the property. Trust is everything when choosing an agent for your power of attorney. You need someone who will protect your business and respect your wishes. If you have a sponsor in the UAE (for example, to obtain an entry permit), your sponsor may be your power of attorney.

written by Aashish Rajesh, Director of Corporate Communications, Worldwide Formations

As a Dubai resident, you may have come across the term “Ejari” in the context of tenancy agreements. Here’s everything you need to know about the system.

WHAT DOES ‘EJARI’ MEAN?

Simply put, it means “my rent” in Arabic. It is the government’s registration system for residential and commercial leases aged less than 10 years.

WHY IS IT MANDATORY FOR TENANCY?

Under Dubai’s Landlord and Tenant Laws, all properties must be registered at Dubai’s Real Estate Regulatory Agency (Rera).

Since March 1, 2017 a pre-requisite for registration has been that a standard form ejaricontract is entered into between the parties to a lease. While this standard form is compulsory, it is possible for the parties to agree to supplement its terms and conditions.

The registration requirement and the subsequent standard form is considered as positive steps in Dubai’s transition towards a fully developed business hub and provides tenants with further protection and security in their properties, as well as allowing the authorities to record lease transactions.

In simple words, Ejari can help tenants and landlords get legal security and protection during the contract period while also allowing the government to keep tabs on the number of rental agreements being entered into in the emirate.

Why should you register?
1. IT IS LEGALLY COMPULSORY

It is mandatory for every lease in Dubai to be registered, whether commercial or residential.

2. IT GUARANTEES RIGHTS

The registration safeguards the rights of all parties to a tenancy contract.

Once the tenancy contract is registered, its validity is accepted by all government agencies, providing protection to landlords and management companies, as well as their tenants, regarding the enforcement of terms of each tenancy contract.

The standard ejari contract also ensures that key commercial terms, such as rental amount, payment terms and duration, are clear. The ejari contract also serves as an official record of the agreed rent, making it difficult for landlords to circumvent Dubai’s rental cap regulations by indiscriminately increasing the rent on renewal.

Judicial bodies such as the Dubai Court’s Rent Disputes Settlement Centre (known as the Rent Committee) is not able to hear any action or claim based on a lease unless that lease has been registered at Rera.

3. HELPS WITH UTILITY CONNECTIONS

The Dubai Electricity and Water Authority (DEWA) requires tenancy contracts to be registered on Ejari, in order to connect electricity and water services. You will only be able to activate electricity and water services as soon as you have the unique Ejari number, which is obtained once the tenancy contract is logged into the Ejari system.

4. INCORPORATION OF ENTITY

Ejari is usually required to complete the incorporation of companies or establish a branch in the mainland of Dubai, and for the future when renewing any trade licences of such entities.

5. VISA APPLICATION

You will require Ejari registration for the purposes of obtaining a UAE sponsorship in Dubai, in terms of both new applications and renewals.

How to register and cost

The responsibility to register with Ejari is both with the tenant and the landlord, but in most cases, it is the real estate agent or the tenant who completes the process and meets the Ejari fees.

You can register either through one of the approved typing centres or online through the Ejari portal. Large-scale landlords and letting agents will often have access to the online portal.

The Ejari registration fee is currently Dh220 (inclusive of VAT) if you apply through the approved centres.

If registration is carried out online through the Ejari portal, you will need to upload all copies of the necessary documents. The Ejari registration fee is currently Dh170 inclusive of VAT, for online registration.

DOCUMENTS NEEDED TO REGISTER EJARI

• Previous Ejari (for renewal)

• Tenant’s passport, UAE visa and Emirates ID

• Tenancy contract plus any supplementary contract

• Title deeds of the rented property

• Property details undertaking form

• Dewa bill (if renewal)/final bill (if new registration)

• Landlord’s passport

• For commercial entities, trade license is required

Once the Ejari registration is complete, you will receive the official Ejari contract, which comprises the main terms and conditions, an attestation acknowledging that your contract is registered with Ejari and a breakdown of your payment.

The process of Ejari registration is becoming increasingly quick and easy for landlords and tenants alike

The service fees are the main consideration and these are generally based on the size of the apartment or in the case of a house then they are based upon the plot size in most cases. Utilities such as water, electricity and gas are the responsibility of the tenant and the letting agent get their fees from the tenant. In some properties the owner pays for District Cooling which is either included in the service fees or as a separate account which may then be passed on to the tenant.  Most properties in Dubai are let unfurnished and many don’t include the kitchen appliances with tenants often having their own or negotiating on the rent with landlords who then supply these items however, the maintenance costs of kitchen appliances when included are the responsibility of the landlord. If you decide to engage the services of a property management company then of course that’s more expense but then I have my own thoughts on whether this is required in Dubai and I would be happy to explain further if needed.

Yes, if you own a property worth over 1 million AED that has a Freehold Title deed then you are entitled to a resident visa and all that comes along with residency e.g. Emirates ID, the right to register cars and open Bank accounts. Contact me for some introductions to companies that we can recommend

Generally, real property never depreciates in value, or more so, it is not very common for property to depreciate.  This is why it’s a great investment. Make sure you carefully consider location and community when choosing a home, it can effect the homes future value greatly.

If you are in a newly developed area, do some research on the construction of the surrounding areas being developed to determine if they may effect your homes value.

This is really just a matter of preference, but both newer and older homes offer distinct advantages, depending upon your unique taste and lifestyle.

Older homes can generally cost less than new homes, however, there are many cases where new homes can also cost less then older homes. Most new homes will not have any backyard landscaping and some don”t include any front landscaping either. With an older home, the landscaping is normally already completed and could have 10”s of thousands of dollars in landscaping done, which is included in the purchase price.

Taxes on some older homes may also be lower. Some people are charmed by the elegance of an older home but shy away because they”re concerned about potential maintenance costs. Consider a home warranty to get the peace of mind you deserve. A good Home Warranty plan protects you against unexpected repairs on many home systems and appliances for a full year or more after you move in.

In a new house, you can pick your own color schemes, flooring, kitchen cabinets, appliances, custom wiring for TV”s, electrical, computers, phones and speakers, etc., as well as have more upgrade options. Modern features like media rooms, extra-large closets and extra-large bathrooms and tubs are also more attainable in ground-up construction. In a used home, you rely largely on the previous resident”s tastes and technological whims, unless you plan to farm thousands into a remodeling and rewiring.

New-home designers can use new building materials such as glazed Energy Star windows, thicker insulation and other technology that will lower future energy costs for the owner. Most states now have minimum energy-efficiency requirements for new construction. Kitchens and laundry areas in new homes are designed to house more efficient energy-saving appliances. Older homes, unless they have undergone an energy retrofit, usually cost much more per square foot to air-condition and heat.

Builders have to follow very strict guidelines in new-homes and additions, especially in the West and Northwest, where earthquake safety standards must be observed. In general, new homes are usually more fire-safe and better accommodating of new security and garage-door systems.

Older homes can be better judged for their quality and timeless beauty. New homes that now possess a smooth veneer might reveal the use of substandard building materials or shoddy workmanship over time.

As you can see there are advantages and dis-advantages to each, but it really comes down to what fits you and what you are looking for in a home.

An agent who is authorized to open and run his/her own agency. All real estate offices have one principal broker.

If you’re prequalified it means that you POTENTIALLY could get a loan for the amount stated to you, assuming that all of the information you provide to the bank is accurate and true. This is not as strong as a preapproval.

If you’re preapproved, it means that you have undergone the extensive financial background check, which includes looking at your credit history, previous tax returns and verifying your employment – and the lender is willing to give you a loan, basically meaning you’re approved!

You will usually be provided an accurate figure which shows the maximum amount that you are approved for.  Most sellers prefer buyers that have been preapproved because they know that there will not be any problems with the purchase of their home.

Title insurance is insurance that protects the lender and buyer against any losses incurred from disputes over the title of a property.

When a loan is originated, the mortgage documents specify the escrow conditions. This has become a standard practice for all mortgages, including FHA, VA and conventional mortgages.  Occasionally on conventional loans, FRFCU waives the collection of escrow requirement at closing if the member has a minimum 20% equity position in the property.

The easiest way to avoid PMI is by putting 20% down payment; however, PMI can also be avoided if you only have 5% or 10% for the down payment. The way to accomplish this is via a first and second mortgage combination commonly referred to as 80/10/10^s or 80/15/5^s.

These two methods combine a first mortgage lien for 80% of the home price with a second mortgage lien for either 10% or 15% of the home price leaving the remaining 5% or 10% as the down payment. Because the first lien is at the magical 80% loan=to-value, there is no PMI required, even though a second mortgage is being |piggybacked| onto the financing thus allowing for the lessor down payment.

While the second lien terms are not as attractive as first lien rates, the second mortgage is still home mortgage interest and thus deductible as such on your federal tax return where PMI is insurance and offers no deduction.

Most mortgages originated today calculate interest in arrears, unlike consumer loans which calculate interest to the date of payment receipt. As an example, when borrowers pay their February mortgage payments, they are paying the January interest. This method of calculating interest is based on a 360 day year in which each month has 30 days.

Title insurance is insurance that protects the lender and buyer against any losses incurred from disputes over the title of a property.

Title insurance is insurance that protects the lender and buyer against any losses incurred from disputes over the title of a property.

Many tax authorities will mail an informational copy of the real estate tax statement to the homeowner in addition to the Credit Union.  However, there are some statements tax authorities do not forward to the credit union, and in special cases we will need your assistance in obtaining the bill. If you receive a statement for any of the following, please forward it to our office by mail or fax.

• delinquent real estate taxes
• supplemental or additional real estate taxes
• special assessments
• if the tax authority will not honor a bill request from another party.

Most mortgages originated today calculate interest in arrears, unlike consumer loans which calculate interest to the date of payment receipt. As an example, when borrowers pay their February mortgage payments, they are paying the January interest. This method of calculating interest is based on a 360 day year in which each month has 30 days.