Anyone can own a luxurious property in Dubai, be it an overseas or resident investor.

Dubai property owners and their immediate family will be automatically qualified for residency visas. It would be a smart idea to make sure that it states so in your contract. Keep in mind that these will be subject to the current immigration rules and regulations and must be renewed once every 3 years.

In order to purchase a property in Dubai you do not necessarily need a local bank account. Although, if you would like to have your own bank account, just give us a call on (800) elysian, or 00971 4 323 4545 if outside of the Emirates, and we will help arrange it.

On the other hand, a solicitor’s services can easily be employed for overseas buyers. They can receive your transferred funds into a dedicated bank account. Next, the solicitor will arrange all payments in order for the property’s purchase to be completed.

Another course to making your overseas purchase even simpler would be to assign your solicitor as power of attorney. In this case, you wouldn’t even have to be present at the property’s transfer.

When it comes to purchasing a property in Dubai there are no tax payments to be made. The only business taxes made would be in the banking industry. Furthermore, there are no capital gain taxes either.

These payments are imposed in order to have the various common areas and facilities of the development properly managed. These payments will vary, depending on the sophistication and location of the property. Call (800) elysian if you would like to be assisted on a development’s charges.

Most developments and properties listed with elysian are freehold. In some rare cases you can have a mixture of freehold and 99-year leasehold property.

Key locations in Dubai such as Palm Jumeirah and Jebel Ali, Jumeirah Beach Residences Dubai Marina and the famous Burj Dubai District provide buyers with projects that are going to be in demand no matter what the market. These would therefore be the most prominent investment opportunities when it comes to long term.

Due to the rapid developments in Dubai, banks have expanded the mortgage market. Mortgages will be available on 10 – 25 year plans while the interest rates vary from introductory or fixed term offers depending on each individual case. Call (800) elysian for any further assistance.

At the contract signing of new developments there is a deposit of 10% of the buying price required. This is then followed by stage payments made at regular intervals through to completion. On the other hand, completed properties must be paid in full amount. The developer will charge a 1-2% transfer fee in order to put the property contract in your name where the contract will follow in approximately 2 weeks.

The payment plans differ from developer to developer. For you to get the precise payment plan for a certain project, call (800) elysian and we will assist your enquiry immediately.

Within the current Dubai market there is an average rental yield of 5 - 12 %. Rental yield varies depending on the property’s location in Dubai. In time, as the properties under construction come to the Dubai market and capital value rises, yields may slightly drop. On the other hand Dubai’s population is set to double within the next 2 years and hence keeping demand for rental properties in Dubai high for years to come.