The two main rules for real estate property ownership by foreigners in the United Arab Emirates state that ownership rights depend on the nationality of the interested buyers and property location.
UAE and the Gulf countries citizens have some advantages in buying property in the UAE, and foreigners subject to certain limitations. Thus, nationals of other countries outside Gulf Cooperation Council membership can buy property only in special Designated Areas of Dubai and other emirates, but today, this requirement seems more a formality, since the range of locations available for foreigners is constantly expanding, and not only in Dubai but also in the northern emirates of Sharjah, Ras Al Khaimah and Ajman.
Foreign companies with headquarters registered in free economic zones in Dubai, may acquire real estate property, regardless of their shareholders’ nationalities (except for the DIFC, companies registered in which need a special permit to buy a property outside this zone). Thus, registration of a company in one of the Dubai's free zones also expands potential foreign Dubai property buyers’ opportunities. However, this rule does not apply to companies registered in the free zones of other emirates.
As for the individuals, now foreigners are able to buy a home in almost any area of Dubai. And opportunities for buying affordable property are constantly expanding in such Dubai areas as Meydan, Jebel Ali, Dubailand etc. The number of districts in the UAE capital Abu Dhabi, where foreigners can buy a house, is traditionally much more limited, but in Dubai the choice is practically boundless. Almost all types of property, including villas, apartments, hotel apartments, are available for purchase here, and investing in real estate with subsequent property lease gives the opportunity to receive one of the highest profits in the world.
If you still have questions about home ownership by foreigners in the UAE, you can always contact IMEX Real Estate experts, and they will give you a detailed advice.