If you want to buy a property in Dubai, you may want to keep a few important things in mind. Since 2002, Dubai has been experiencing a boom in the construction industry as foreigners are now allowed to own property in Dubai.

If you want to keep your property ownership confidential, you can buy a property through Jebel Ali offshore company. Let’s find out how it can be done.

Buying a property in Dubai and registering it

First of all, you should deal only with reputable developers and agents registered with RERA, which is a Real Estate Regulatory Agency. In Dubai, you can register through DLP or any of the offices of the registry trustee.

land department rules

One of the functions of the Dubai Land Department is to offer property registration and ownership. Typically, the registration fee for a property purchase in Dubai is 4%. In addition, once the sale is completed, you will have to pay 4% of the amount to the real estate agency as a commission.

Jebel Ali offshore

Before 2011, you could turn to any offshore company in Dubai to buy property. Now, you can go only with a licensed company or Jebel Ali offshore company. In fact, Jebel Ali offshore companies are allowed to own property in projects owned by Emaar Properties, Dubai Holdings and Dubai World.

How to incorporate and register a property

Now, let’s go ahead and go through the whole process of establishing a property and registering it in Dubai.

To set up an offshore company

You must provide important documents and information to the registrar. This is what you need to provide:

• Name and address of the offshore company

• Business Type

• Names and addresses of the founders

• Amount of share capital

• Statutes

• Other documents required by the registrar

Upon completion of registration, the company will be issued with an identification number and registration certificate.

The registration process

The next step is to present the contract at any of the registry administrator’s offices in Dubai.

Other things you will need

• The business license of the company (copy or original)

• Copies of the shareholders’ passport

• Power of attorney (Arabic and English)

• Resolution of the Board (English and Arabic)

• Company Memo (English and Urdu)

• Shareholder Certificate (English and Urdu)

final steps

Finally, the interested parties will sign the contract by presenting the application to any of the employees of the trust office in the presence of the RERA real estate agent. The new owner will then register with the Dubai Land Department. Registration will take around 4 days to complete. The registry administrator fee is AED 2,000. However, if the value of the property is AED 500,000 or more, the fee will be AED 4,000.

So, this is how you can buy a property in Dubai with ease. Do you find this article useful? If you do, then go ahead and invest in Dubai real estate without worry.