Can foreign nationals register title to property in Dubai?
Yes. But the property should be located in a designated area in Dubai. For such properties in Dubai, foreign nationals are allowed to register freehold title to their property in Dubai at the Dubai Land Department.
What restrictions may be registered against freehold title in Dubai?
The most frequent restriction on freehold title is the Master Community Declaration, a document that governs the development and operation of property in Dubai within master communities. It also includes provisions regarding use and maintenance of property, as well as payment of service and other related charges.
Is it necessary to register title to your property in Dubai? Are there any penalties for non-registration of title in Dubai?
The Property Registration Law states that no disposition of a real property rights can be affected unless it is previously registered with the Dubai Land Department. However, there are no certain monetary penalties regarding non-registration of property in Dubai but the Dubai Land Department has indicated these may be in place in the future for unregistered titles in Dubai.
Do you need to sign any agreement with a real estate agent in Dubai or a broker before you engage their property services?
Yes. The Brokerage Law states that any agreement to employ a broker must be made in writing. RERA has issued forms which it encourages all sellers and purchasers to sign prior to any dealings with real estate agents and brokers.
The above being said, it is not formally implemented in Dubai, with Buyers and Sellers still able to use many different real estate agencies, without signing any formal agreement. Please do work with ReRa Certified Real Estate brokers. Your property agent/broker can be verified and validated at:
http://www.rpdubai.com/rpdubai/home/brokers.do?lang=0
Do you get automatic residency in Dubai when you buy property in Dubai?
This controversial policy has been further revised and going forward, only 6 Month Multiple Visa would be provided to Home Owers for properties in excess of 1,000,000 Dirhams. There is a 2,000 Dirham charge for renewal of the Visa.
3 Year Visa that have already been issued, would upon their completion renewed on the above guidelines.
As a developer, do you need to be licensed by the Dubai Economic Department or by the Dubai Real Estate Regulatory Agency?
Yes. For developments outside the designated freehold areas, developers must be 100% UAE or GCC-owned entities and licensed by the Department of Economic Development (the “DED”). In the past year, RERA has been issuing developer certificates for offshore companies purchasing and developing plots within the designated freehold areas. This is seen as an interim measure until RERA acquires all real estate licensing capabilities from the DED. To date, the DED has been honoring the RERA-issued certificates upon inspection of developments within the designated freehold areas.