The UAE’s property sector underwent a dramatic transformation when the Government of Dubai allowed foreign investors and buyers to take 99-year leases on apartments and villas in the emirate of Dubai. When this decree was issued in 2001, the population of Dubai was close to a million. In May 2002, the current Ruler of Dubai, His Highness Sheikh Mohammad bin Rashid Al Maktoum ruled that the emirate would permit foreign nationals to invest in Dubai properties on freehold ownership.

Ras Al Khaimah was the second emirate in the UAE to award freehold ownership rights to foreign property buyers. At present, it is possible for foreigners to buy and sell properties at pre-designated freehold communities across Dubai, Ajman, Abu Dhabi, Ras Al Khaimah and Umm Al Quwain.

Sharjah also offers properties to foreign buyers, albeit on a leasehold basis.

Freehold Property Ownership in UAE

Drafted as Law No. 7 in 2006, the ‘Land Registration Law of the Emirate of Dubai' legalizes freehold ownership of land and property for the UAE and GCC citizens, while awarding the same rights to non-GCC expatriates in pre-designated areas that are approved by the Ruler of Dubai.

Now the UAE government plans to grant multiple-entry visas to non-GCC nationals in areas hitherto designated as ‘freehold’. The new visa law comes into effect from June 1, 2009. The residence visas granted to foreign property owners will be multiple-entry entities valid for 6 months. These cover the owners’ immediate family, but do not permit them to work within the country.

Owing to its unique location, the UAE has grown into a vital trade hub linking Europe and South Asia. If you are a non-GCC businessman looking to tap into the Middle Eastern and West Asian markets and require a base in the region, it would be wise for you to invest in freehold property in the UAE. The country, with its tax-free status, 65 plus free zones that allow 100% capital repatriation and modernized infrastructure, provides ideal environs for conducting trade and business.

Benefits of buying Property in UAE

• Tax-free Haven
• Low-crime Rate
• Modern Infrastructure including an efficient Road Network
• Metro Rail Projects in progress
• Westernized Environs
• English-speaking Peoples
• Excellent Educational & Medical facilities
• Cosmopolitan Atmosphere
• Landmark Developments like Palm Jumeirah, Burj Dubai & Dubai Mall
• 100% Freehold Properties
• Real Estate Regulatory Authorities
• Cheaper Property Prices when compared to the rest of the world
• Good Rate of Appreciation