Posted on 17 February 2018
The trend of Investing in Dubai’s real estate is still booming. The constant escalation in the level of transactions throughout 2017 is a good indication of the above-mentioned trend.
The trend of Investing in Dubai’s real estate is still booming. The constant escalation in the level of transactions throughout 2017 is a good indication of the above-mentioned trend. Apart from this, the inclination towards the perks of this kind of investment mainly focusing on the possibility of obtaining residency visas through property ownership in the Emirate.
To encourage foreign investors and to stimulate the real estate industry, the government of Dubai made some efforts to ease the process to owning new property in Dubai and obtain Residency visas. The same is mentioned in the upcoming article.
With increased globalization, it is becoming a norm for savvy investors to allocate a share of their portfolios in foreign assets as international portfolio diversification allows them to get superior risk-return trade-off than the portfolio of domestic assets. However, the size of this share usually depends on cross-country rules and regulations, and limitation on investment. While investment in outside properties provides better risk-return trade-off, investors need to be aware of the limitation of global diversification. In mature countries, the risks of delayed project completion, quality, exit and land title, among others, is relatively low, whereas emerging economies still face these problems. Assuring legality of the titles of properties is also very important. One should know whether the property is leasehold or a freehold. A property owner in Dubai can have the option of two types of visas to choose from:-
For the Six- Months Multi-entry type visa, there are several conditions that are needed to be satisfied. They are mentioned below:-
* The property must amount to more than AED1 million.
* In case of shared property, individual shareholder must have a share worth more than AED1 million
* At the time of sale, the previous owners are obligated to provide a well-furnished property, good enough to move into.
* The visa in question needs to be refreshed every six-months with a renewal fee of AED1,100
* Owing to the fact that this type of visa is a 'visit-only visa', the individual or his/ her dependents are prohibited from working in the UAE
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