Are you a non-resident investor with an interest in Dubai’s vibrant property market? Whether you’re a businessman with connections in the UAE or simply looking for a lucrative investment opportunity, Dubai’s investor-friendly environment offers a wealth of options for those interested in buying and selling property.
If you’re a non-resident investor looking to purchase property in Dubai, the process is straightforward but requires a few key steps. First, you’ll need to open a savings account with a local bank in order to transfer the funds required for the purchase. Be sure to meet the bank’s criteria for the latest laws on proof of funds and AML regulations to ensure a smooth transaction.
Opening a local bank account can facilitate the purchase of your desired property, as all related fees can be paid from that account. Another option is to buy off-plan with a reputable developer who has a project escrow account facilitated by the Land Department. This option is safe and secure, providing peace of mind while investing in Dubai’s dynamic property market.
When it comes to selling your property as a non-resident investor, it’s important to ensure you have all the necessary documentation and have paid the required transfer fees to the Dubai Land Department. Assuming you’ve met these requirements, there should be no issue with selling your property for a profit.
In fact, Dubai’s property market is renowned for its tax-free return on investment, making it an attractive option for many people. Upgraded properties, in particular, command a premium due to the hassle and time required to obtain necessary permits from developers and the municipality for extensions and upgrades.
As a non-resident investor, buying and selling property in Dubai can be a lucrative opportunity. With a little research and the right resources, you can take advantage of Dubai’s investor-friendly environment and make a smart investment decision in the city’s vibrant property market.
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