Are you planning to invest in Dubai Real estate market? | Trying to buy property in Dubai from USA?
Dubai’s property market is getting attracted for most US, UK investors such as reirees, expats, entrepreneurs, real estate professionals every year.
If you are living in US and you are planning to invest in Dubai market, it is the best option since it is tax free rental returns, freehold ownership, and world-class infrastructure.
How to invest / buy Dubai Property if you live in US (America)?
1.First of all, you have to select your property type such as
- Freehold Apartments / Villas / Townhouses in approved zones
- Off-plan properties (under construction) from top developers like EMAAR, DAMAC, Sobha, Nakheel
- Ready-to-move properties from resellers
What is freehold ownership?
It means full ownership of the land and property where you can sell, rent, gift anytime you want.
2. Check with RERA licensed agents in Dubai.
3. Verify whether the project is registered with DLD (Dubai Land Department) and the developer has a valid Escrow account for investor protection. Also review the complettion timeline, payment plan.
4. Checkout the finance plan in UAE. Decide how do you want to buy the property in full cash or take loan from the bank . Some of the banks who are giving non-resident mortgages in Dubai, UAE are:
- HSBC Middle East
- Emirates NBD
- Mashreq bank
- Standard Chartered
What are the requirements for applying non-resident mortgages in Dubai, UAE?
- The property value should be minimum of AED 1 million
- You should make down payment of 20 – 25 %
- Keep Valid passport, proof of income, US Bank statements, Credit report etc
5. Sign the Memorandum of Understanding Form F between buyer and seller. The agent should submit to the DLD Trakheesi system to get verified.
How to make the payment from US in the safest way to buy the property in Dubai?
You can choose to transfer the funds through SWIFT wire transfer (OR) Currency exchange plattforms such as wise /revolut (OR) Escrow accounts.
*Do not send to any personal account number or unverified agents
Will US resident get any benefits from the owned property in Dubai, UAE?
Yes, if you have an own property in Dubai, you will be qualified for a renewable 2 years residency visa. With this, you can sponsor your spouse and children under this visa.
What is the DLD property registration fees in Dubai?
- It costs 4 % of property price.
Is there a property tax to be paid in Dubai?
- There is no property tax to be paid.