by admin
Is A Non-Resident Buyer’s Physical Presence Required To Consummate The Transaction?
The real estate market in Dubai is booming, with prices reaching new heights. However not all residents can own property there as it is only available to UAE ID holders. However, if your friend has money then he should consider investing. Because of how cheap these apartments cost and they are quite easy on maintenance fees. However, the exact questions are:
Is it possible for him to buy property in Dubai even though he is not a UAE resident? Is he require to be present in-person to execute the transaction, or can he appoint me to supervise it?
In response to their questions, the provisions of Law No. 7 of 2006 on Real Property Registration in Dubai (the “Dubai Property Registration Law”) apply.
A non-UAE national may buy a freehold or leasehold property in Dubai. If the Dubai Property Registration Law is followed. The following is the text of Article 4:
“The right to own real estate in the Emirate shall be limited to UAE nationals, Gulf Cooperation Council nationals. Companies wholly owned by these nations, and public joint-stock enterprises.” Non-UAE citizens may be awarded the following rights in the relevant areas established by the Ruler. Subject to the Ruler’s approval:
- Real estate ownership is granted on a freehold basis, with no term limits.
- For up to ninety-nine (99) years, usufruct or leasing rights in real property.”
In accordance with the provisions of Article 4 as stated above, the Ruler of Dubai issued the Resolutions. From time to time identifying and demarcating particular areas in the Emirate of Dubai. Where non-UAE nationals may have freehold ownership of the real property. In addition (ii) usufruct rights (right to build) or 99-year lease rights in real property.
A Non-UAE National Does Not Need To Be A UAE Resident
A non-UAE national does not need to be a UAE resident. To invest into and/or own real estate in such freehold/leasehold zones.
Therefore, your acquaintance, neither a UAE native nor a resident, can buy a leasehold or freehold flat in the UAE. He also will not have to fly to the UAE to finish the purchasing and registration processes. Instead, he may issue an attorney appointing you to act on his behalf (PoA).
Your friend might hire a law company to Buy Home in Dubai, to write the PoA. Then take it to a notary public in his home country to have it signed and attested. The notarized PoA must next to apostille or certify by his country’s foreign ministry. Followed by the UAE Consulate or Embassy in his country. Your friend may then give you the original PoA once these procedures complete.
Once you have it. You will need to get an attestation from the UAE’s Ministry of Foreign Affairs and International Cooperation. If the PoA is not in Arabic, it needs to be properly translate and stamp by a certified legal translator. Following that, the UAE Ministry of Justice via its web page must attest all the legal interpretation of the PoA.
You may utilize the PoA to acquire and finalize a transaction on behalf of your friend. Once you accomplish all of these steps, you are ready to go on to the next step. In this way, he or she can buy house Dubai.
