Can foreign nationals own property in Dubai?
Yes, since summer 2002 foreign individuals or foreign-owned companies can purchase property in Dubai.
However the right to purchase is restricted to freehold areas, while and in other areas, a leasehold right of purchase is applied for a maximum period of 99 years. The right to buy is subject to the property you wish to purchase being located in one of the specific areas which the Ruler has approved for foreign ownership.
Why should I choose Dubai?
Property in Dubai is still a sure-fire way to make money; the market is growing steadily and some off-plan developments have been known to sell out within 48 hours of release, with profits of 100% prior to completion.
With some of the world's most awe-inspiring constructions underway, this emirate is in a league of its own and in the space of only one decade, this once modest desert sheikdom has risen to become a world economic player.
The government actively encourages foreign buyers with tax-free investment and the creation of the multi-million dollar Dubailand, Dubai Media City and Dubai International Financial Centre means increased tourist numbers and international companies are basing themselves in the emirate and taking full advantage of the prestige and great fiscal benefits available. With demand still outstripping supply for quality villas and apartments to accommodate a boom in foreign workers and visitors to Dubai, the real estate market is set to remain buoyant and highly profitable for the foreseeable future. Many experts even suggest that the Dubai property market has only just started to take off, indicating that prices can only go up with current demand levels.
What is the economic and political situation?
Dubai is the leading economic centre of the Middle East and while efforts continue to project this success even further, the government is also focusing on increasing tourism figures to Dubai from today's 7 million annual visitors to 15 million by the end of the decade. The opening of Dubailand, a spectacular holiday theme park, will not only boost the economy even further, but open up many real estate opportunities in and around the area. With the fastest growing population in the world, Dubai offers investors enormous potential both in the re-sales as well as rental markets.
Sheikh Mohammed is the hereditary ruler of Dubai and his administration comprises family members and powerful emirates. No power is given to Western expatriates while they are freely permitted to drink alcohol and adhere to their own dress codes and lifestyle. The law in Dubai is governed by federal UAE law but the seven Arab Emirates are exceedingly different entities with varied societies and legislation, while the UAE directives form a backbone with which each emirate operates. Due to the great power of its ruler, Dubai offers a stable political environment with a respectful population that poses little or no prospect of unrest.
How do we travel to Dubai?
Over a dozen airlines fly in and out Dubai's stunningly lavish airport, with a wide variety of direct services from the national carrier, Emirates, and others such as British Airways, Air France, Royal Brunei, Gulf Air and Alitalia.
What is the direct flying time from UK to Dubai?
Approximately 7 hours
Is a visa required to enter Dubai?
EU citizens must obtain a Visit Visa for stays of between 15 and 60 days (cost Dhs 100). The visa is renewable for a total stay of up to 90 days, for a fee of Dhs 500.
In most cases, a property purchaser and their immediate family will be issued with permanent residence visas by the government when they buy.
While the above information was correct at the time of writing, you are advised to check with your nearest UAE embassy for the very latest information on visas.