There is a great contribution of the real estate industry to the progress of the economy of Dubai. Real estate investors enjoy high profitability under the friendly property laws of Dubai. Even if you are a new investor then you can get an investor visa very easily.
There are two types of property ownership;
- Real estate ownership for UAE nationals
- Real estate ownership for foreign nationals
How to register property interests in Dubai?
The real estate law of Dubai also permits foreign nationals to buy real estate property in certain areas of Dubai such as Sobha Forest Villas Dubai. For the registration of property or any help, you can adopt the services of the real estate department of Fotis law. Emirate Land Department allow you to register the property without any age limitations.
Normally UAE nationals are allowed to retain full ownership of property. However, the article 4 of Dubai Property law clarifies that foreign nationals or foreign companies can register and own property or can Lease the property for 99 years.
Property Registration Requirements
Before having the ownership and lease of property it is better to know the requirements for the registration of property and houses for sale in Dubai. The Dubai Land Department is established to help people to register their property ownership or long lease rights in the real estate register of this Department.
For the registration of property, the property ownership Certificate is required as proof. Contract plan for property purchase is present in the Land Department of Dubai. For tendency contracts ( Ejari ) The Real Estate Regulatory Authority ( RERA ) registers the short-term leases on their register.
Benefits of registration of real estate property
Property registration laws of Dubai are in favour of the property owners. These laws make the real estate unit safe and secure for the owner. The owner of a registered property unit has a lot of benefits such as; he can claim for the infrastructure facilities, the registered Property can be easily sold to a second party or can be used for rental purposes because you have the property ownership rights issued by the Department. You can mortgage your registered property to get a loan from financial institutions at a time of need. By having a property ownership certificate no one has legal rights to buy a claim over .Your property unit because the city government defends your property ownership nights.
Under the strict rules and regulations, the real estate industry of Dubai is one of the safe and most profitable markets in the world
In Final words
The real estate market of Dubai is one of the safe and most secure markets in the world. The investor’s friendly laws of Dubai have brought top investors to Dubai from all over the world. The strong property and real estate laws of Dubai have made the real estate industry one of the most profitable markets in Dubai.