As a foreign investor, it is wise to have a diverse portfolio of investments, and real estate is a no-brainer. But securing your investments is vital, and since the UAE operates a little differently, it is crucial to make sure that you abide by its laws while you do so.
Who Can Own UAE Real Estate Assets?
Typically, ownership of real estate in Dubai is limited to UAE and GCC nationals. This also includes companies that the formerly mentioned have complete ownership of, and public joint-stock companies.
On the other hand, foreign nationals are given designated areas where they, or any companies completely or partly owned by them, have the right to own real estate. Investors don’t have to have residency permits to buy the property. Some of the designated locations in Dubai include the following:
- Downtown Dubai and Burj Khalifa
- The Palm
- Emirates Hills
- The Meadows
- The Lakes
- The Springs
- Dubai Marina
- Jumeirah Lakes Towers
Registering a Dubai Property with ADGM
An ADGM entity can be highly beneficial when trying to effectively structure your property ownership. Two vehicles that are cost-effective and work well are Special Purpose Vehicles (SPVs) and Foundations. The benefits include:
Benefits of Registering Real Estate with ADGM SPV
With an ADGM SPV, you can consolidate your real estate holdings for an uncomplicated process when it comes to managing your properties. You can also separate your personal liabilities from your real estate assets, and own properties in different emirates such as Dubai, Abu Dhabi, Ajman.
Using an ADGM structure can help secure your real estate assets in a cost-effective way. Since it is locally registered, you can skip pricey foreign attestations when it comes to your documents and transactions.
Finally, there is no need for physical presence to incorporate the company as the registration process is digital.
Registering your assets under an ADGM SPV is simple and straightforward with our help. Here are the documents you will need.
- Original Title Deed Original Certificate of Incorporation / Trade License
- Original Memorandum and Articles of Association
- Copy of shareholder(s) passport(s)
- Original Resolution approving the sale or purchase
- Original Power of Attorney
- Attorney’s original passport
- Legal Translation of the Memorandum and Articles of Association
- Original Certificate of Good Standing (< 6 months old)
- Original Certificate of Incumbency (< 6 months old)
At Sanctuary, we aim to empower foreign expats. Our ADGM experts can help you decide and create the best course of action to effectively secure and manage your real estate assets, and our bespoke structuring solutions are tailored to make your life simpler without compromising on protection. Get in touch with our advisors today to get started.