About Dubai & UAE

Living There

With its thriving expat population, the UAE offers a tax-free lifestyle, with access to the highest class services, such as; education, medicine, sport, and entertainment. Recognised globally as one of the safest countries in the world, the Emirates provides tremendous opportunities for varied lifestyles. The weather is arid or desert-like with year-round sunny blue skies and occasional rainfall.

Economy

With a highly industrialised economy, the UAE is one of the most developed countries in the world. Although oil and gas production continue to be the primary source of revenue, the country’s economic success has been largely due to the Government’s efforts to create production sectors, such as construction and information technology.

Politics

Each emirate in the UAE has its own ruler and exercises individual control over its oil and revenues. The Supreme Council consists of the individual rulers of the seven emirates and elects the President and Vice-President every five years. Although unofficial, the Presidency is de facto hereditary to the Al-Nahyan clan of Abu Dhabi and the Premiership is hereditary to the Al-Maktoum clan of Dubai.

Buying Guide & Process 

The Government allows foreign nationals to buy property in designated freehold areas in Dubai. Property is usually bought before completion and demands an initial deposit of around 10-15% of the original price. In some cases, the developer can ask for a holding deposit. Properties are registered by the Dubai Lands Department. Presently, there are no taxes related to property in the UAE. 

Investment Facts and Guide 

Known as the international hotspot for property with its ambitious projects, the UAE offers lucrative opportunities for realty investors. With the property market still young, the time has never been better for those looking for great investment returns. Although Dubai currently holds most of the real estate action, the other Emirates(such as Abu Dhabi and Ajman) are also fast emerging to be potential avenues for attractive investment. 

Price per Square Foot 

Believed to be home to a quarter of the world’s cranes, Dubai offers some amazing residential investments. The price of one square foot in Jumeirah would range between AED 750 (US $204) to AED 1070 (US $291). If you go to Downtown Dubai, the prices could range from AED 1300 (US $353) to AED 1500 (US $408). Commercial property could cost anything between AED 1,300 (US $353) and AED 1,500 (US $408). 

Rental Yields 

With the real estate sector projected to hit AED 800 billion (US $217 billion) within the next three years, the rental yields currently average 7-10% and are expected to rise further over the coming years.

Rental Income Tax 

There is no rental income tax in the UAE. 

Capital Gains Tax 

There is no capital gains tax in the UAE.