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Are you looking to rent property for over a couple of decades? Or do you want to buy a house to settle in for the rest of your life in the UAE? According to Law No. 19 of 2005, expatriates can own property in the form of floors and apartments; however, they cannot own land. Stay up to date with the latest news.
Follow KT on WhatsApp Channels. Foreign residents can both own and trade property, through four main systems, which are: 1. Ownership Expats can fully use and dispose of the apartments and villas they buy (excluding land) for a period of 99 years 2.
Musataha Expats can own residential units for a period of 50 years. This period is renewable by the agreement of the parties. Under these contracts, for the specified period, the owner can use, construct on or alter the property 3.
Usufruct Expats can own and use residential units for 99 years. However, under this contract, the owner can not change the property. 4.
Long-term lease Expats can lease units for a long duration of 25 years or more. Where can expats own property? According to the TAMM portal, expats can own properties in these nine areas in the emirate: To purchase a property in either of these places, you must register its sale on TAMM. To do so, you can go to services, and click on 'units' under housing and properties.
The owner can then choose 'register for first sale' if the property is being sold for the first time. If the property is being bought not directly from the developer, you can apply through the 'Register sale and purchase of plots or real estate units outside development areas.'.
