Properties in UAE – Benefits & reasons to buy a Property in Dubai

About Dubai

Dubai is undoubtedly one of the most unique cities in the world. For those with an untreatable case of wanderlust, this city is a traveler’s dream. Dubai has historic sights, futuristic architecture, active night life and out-of-this-world attractions. Dubai also has a strategic location. Dubai is less than 5-6 hours of flying time from majority of the world’s destinations.

There are so many reasons as to why you should own a property over here. Living in the UAE is different as compared to other cities. Dubai is home to people of different nationalities, has zero income tax and is flashier than New York and London for party-lovers. There is never a dull day in Dubai where the skies are mostly blue. The survey found that more expats feel at home in Dubai than in other cities and also find it easier to make new friends in the emirate. Dubai also performs very well in the quality of the urban living index. There are a number of reasons as to why Dubai is regarded as one of the best cities in the world.

This is thanks to its unique architecture, multicultural environment, overseas property demand and top tourist attractions.

High standard of living

Want to drive a Porsche? Or dine at the world’s tallest tower? The lifestyle offered by Dubai is sumptuous. Moreover, Dubai isn’t all about the malls and skyscrapers. From diving, skiing, snowboarding, biking, golfing, fishing, sailing, windsurfing, desert activities and water sports, Dubai has all the activities you can think of, year-round.

World-class infrastructure

Dubai has the infrastructure that one would expect from a world-class business hub, city of unique designed Skyscrapers. The government has introduced free zones that serve as hubs for businesses in areas such as Jebel Ali, Dubai Techno Park, Dubai Internet City, Silicon Oasis, Media City and many more to attract foreign entrepreneurs.

Booming tourism industry

You also need to take into account in this particular context that the population of Dubai is growing and this is the reason why so many property projects are being launched over here with such rapid frequency.

The Dubai Statistics Centre has recently announced that compared to its population of 2.4 million people in January 2016 Dubai would have 5.2 million people by 2030. Dubai is also considered as a tourist’s delight as it offers a touring experience unlike any other in the world.

You will have the following quality entertainment facilities over here:

  • Desert Safaris
  • Spas
  • Beaches
  • Yacht communities
  • Skydiving
  • Water parks

There are different regions in the city that offer various kinds of gourmet experiences that no one would want to miss out on. So, there is also huge money to be made in this regard as well.

An essential part of Dubai’s economy is its tourism. The city is full of tourist places to visit. The other important sectors are trade, various industries, and business services.

Emirates airline is Dubai’s flag carrier, with flights to and from over 150 destinations worldwide. Since launching in 2009, flydubai has become the world’s fastest start-up airline, flying to more than 85 destinations across 44 countries.

Museum of the Future

One of the greatest tourist attractions of Dubai is the Museum of the Future. Here you are able to see what lies ahead by way of the latest and the best simulations as well as exhibits that happen to be interactive in nature. The museum also has other attractions such as scientific conferences. Apart from that, it provides high-level courses on the latest trends and achievements in science.

The museum is expected to emphasize on solutions to the most critical challenges that are facing humankind right now as a result of the climate change all around the world. These three challenges are water supply, cities that are self-sufficient, and food security.

Happiest city in the world

In 2016, Dubai formed a ministry named the Ministry of Happiness. The main responsibility of this ministry was to come up with programs as well as policies that could play a crucial role in improving the levels of happiness among people living in Dubai. The amazing government of Dubai is always working towards making lives of its residents better and keep them happy.

Earlier this year, a new ministry for happiness has been added to UAE’s cabinet. The main responsibility of this ministry will be to measure the happiness level of Dubai’s residents and take such actions which will enhance the lifestyle of people living in the emirates along with making them happier than ever.

With such innovation and dedication towards general public, one can only imagine how much your property investment will flourish in coming years in Dubai.

Low crime rate

One of the major advantages that you feel as a property owner in Dubai is the absolutely low rate of crime. The likelihood of minor crimes too is really less. Even if you have left your wallet in your car and that too in quite an evident manner you need not worry because the likelihood that it would be stolen is pretty less.

Excellent & higher rental returns on investment

The real estate market of Dubai is getting better even as the city’s population is increasing. This has become a yearly trend almost. Even the investors are also aware that the growing population is quite wise when it comes to purchasing property in order to keep up with the increase in demand for rent.

Rental returns in Dubai are much higher as compared to major real estate capitals in the world. The best performing areas of Dubai are generating up to 10% rental yield on average. The average rental yield in

New York is only 3.91%, in London it is 3.21%, in Singapore it is 2.83% and in Hong Kong you will not get more than 2.82% rental income.

One of the key advantages of buying a property in Dubai is the high Return on investment (ROI) offered for buyers and investors. Most key neighborhoods in the city offer ROI of over 6% when it comes to apartment sales and the villa communities generally offer rental returns of over 4%. How much yield can your Dubai Property generate? On a very conservative basis, the rental return in Dubai will be not less than 5.82% and that makes Dubai the best destination around the globe for property investors. So if you want to enjoy the benefits of buying property in Dubai, don’t forget about the higher rental income that your real estate investment will generate in Emirates of Dubai.

High-class transportation routes

Dubai is one city that is always looking to get better with regards to the infrastructure that it has in place for transportation. Hyperloop One, an organization based in the United States of America (USA) is right now building a quicker route of transportation between Dubai and Abu Dhabi. This is going to be the first working system to be built by the company in the world. As and when this system gets operational, people would be able to travel between the cities in pods that are expected to travel at speeds of 1200 km per hour.

This also means that as and when this project is up and running you would be able to travel between Dubai and Abu Dhabi in just 12 minutes. As unbelievable as it may sound it is true indeed. As per the estimates of Hyperloop One, there would be around 4000 such pods traveling between Dubai and Abu Dhabi on a regular basis.

No property taxes at all

Is there no property tax in Dubai? Yes, its true. There is no property tax in Dubai. Which means, if you buy any property in Dubai, just pay the registration fee to Dubai Land Department and then there is no other government taxes to be paid against your property at all. This is considered as one of the most bigger benefits of buying property in Dubai that by investing in the real estate market of Dubai “No future taxes are there”. This includes the residential properties as well as commercial properties.

Consistently growing population

Dubai is of course a cosmopolitan city where people from more than 200 different countries are residing hence the population of the city is increasing day by day. One of the biggest benefits of buying property in Dubai is that, people from all over the world are coming here in search of better career and business opportunities. All these people need a place to stay after all, no one is going to stay in hotels for the rest of their lives, isn’t it right?

So, what is the biggest benefit of buying property in Dubai? As per World Population Review, Dubai’s population is increasing at a rate of 10.7% Year on Year. This makes Dubai, one of the fastest growing cities in the world. The growth of population in Dubai is phenomenal, from 2008 to 2018, there has been an 86% increase in population so far.

Many new housing projects have already been launched in Dubai to accommodate this increasing population which bring more investment opportunities for savvy investors who want to get higher return on their investments.

Consistent development & Innovation

Would you rather buy property in a city where there is no more development work going on or in a city where new innovative ideas are launched every now and then? Dubai is already well on its way to become the smartest city in the world. There is always something new about Dubai and that is one of the biggest benefits of buying property in Dubai as well.

A city where something new is happening all the time is always center of attraction for masses and when millions of people come to visit this city every year, they need a place to stay, why not your place then?

Dubai is already home to tallest building like Burj Khalifa and now there is going to be another tower taller than the Burj as well. The innovative ideas presented and initiated by Dubai government is a healthy sign that buying property in Dubai could be the best decision of your life. What does all this new development mean for your property investment? With all the development happening at rapid pace, there will be new shopping centers opening near your property, new roads linking to the community hence increasing the value of your Dubai property over the period of time.

Safety & Security

Among many benefits of buying property in Dubai, one is the sense of “Safety & Security” that residents of Dubai enjoy. This is one of the major reasons why people find it reliable to come here in Dubai and start their new lives. While many countries in the middle east region have gone through and still going through their fair share of political disturbance, Dubai remains the most stable city in the region.

We all know about Dubai Police that they are prompt, helpful and drive luxury cars as well. You will never see two people getting into a fight even during a road side accident. The common practice is to get out of the car and call the police to come and assess the damage and announce the guilty.

Theft or robbery is something which is unheard in Dubai and this can be considered as the best benefit of buying property in Dubai. You can leave your car’s door open in public parking and no one will dare to touch it in your absence. So, how safe & secure is Dubai? as per a latest survey conducted in UAE, more than 98% residents feel secure living and working in the country. The UAE has a strict policy of deportation of criminals, making it a very safe city.

UAE Residence visa on buying property

Also one the biggest benefits of buying property in Dubai that you can enjoy is to become eligible to get “Resident visa” based on your property purchase in Dubai. There are some certain requirements which you need to know like, the value of your property should be at least AED 1 million, there should be no mortgage against your property. In order to obtain your investor visa against the purchase of your property in Dubai is to approach Dubai Land Department.

Variety of options

When it comes to investing in Dubai’s real estate market and enjoying the benefits of buying property in Dubai, there are variety of options available to choose from. Two main categories are residential properties and commercial properties. If your plan is to invest in a residential property, you can either buy an apartment or a villa and if you want to invest in commercial real estate in Dubai, you have options ranging from shops, offices and to industrial properties as well.

Low Acquisition Cost

Actually to be precise the average price per square foot in Dubai is 468 US$ whereas in London, you will have to pay 3,208 US$ to acquire the same property. This is one of the biggest benefits of buying property in Dubai and cannot be ignored. So it is quite cheap to acquire property in Dubai as compared to other developed real estate markets around the world.

Regulated market

Dubai is the most transparent real estate market in the MENA region. The government acknowledges the role that improving transparency plays in increasing levels of foreign investment. Its new Open Data Law looks to promote the sharing of non-confidential data between government and non-government entities. The Real Estate Regulatory Agency has implemented several new measures to make the Dubai property

market regulated and on par with international destinations. Dubai property prices have stabilized and the market has matured, making this a great time for investing in property.

UAE residence visa

UAE residence visa is a permit that allows foreign people to live in this country for a long period of time. The visa can be valid for 2-3 or even 10 years and maybe renewed as many times as a person needs. Many international families living in the Emirates for generations, just keeping on renewing their visas regularly.

UAE permanent residency does not exist as such. Being a UAE permanent resident simply means having a visa stamp in your passport and constantly living in this country.

How to get UAE residency?

There are a few ways to obtain UAE residency:

Opening a business is one of the fastest ways of getting a visa. Business setup in UAE free zones is one of the most preferred options due to 100% ownership, affordable fees, and transparent process.

Where to open the business?

In order to apply for a visa, you need to open a company under your name in one of the business registration authorities of the UAE. There are over 40 of them and you can either search for a suitable registering body by yourself or get help from us.

Process of getting UAE residency

If you are getting the visa as the business owner, the process would be the following:

  • Registration of a company
  • Getting establishment card (it’s an immigration related document of your company which allows you to start visa applications)
  • Obtaining entry permit (a prerequisite of a resident visa, which is done at its initial stage)
  • Making Emirates ID application and doing medical tests
  • Stamping the visa into your passport

Normally you can stay in your home country during the company incorporation, establishment card and entry visa-issuing (provided that you visited UAE at least once in the past).

Your personal presence is required at the stage of Medical check and Emirates ID application and visa stamping. Your passport will be taken to the immigration office for the stamping and you will not be able to leave UAE until the process is completed. Overall, visa stamping including Medicals and ID takes a week time.

What are the benefits?

UAE residency may be obtained for permanent living in the UAE or temporary regular visits, which is useful for those nationals who don’t get a tourist visa on arrival.

It is also helpful for corporate Dubai bank account opening because a resident visa holder is considered as a low-risk category by the compliance.

How to maintain the visa?

If you are a person keeping UAE permanent residency, you won’t have any issues with having your visa valid. If you are a frequent traveler or do not live in UAE, you have to make sure that you enter UAE 1 time every 6 months in order to maintain the visa. In case you fail to do it, the visa will be canceled automatically and you will have to go through the process of getting a new one from the start.

How to renew the visa?

UAE residence visa renewal is simpler than getting a new visa, however, you will need to do a medical check and Emirates ID renewal. You simply need to come to medical screening center 1-2 weeks before your visa expiration date and make necessary tests, after which apply for Emirates ID renewal.

Upon getting the medical report, send it to the immigration office together with the passport and the new visa will be stamped for another period.

Business Set up in UAE Start your own business

A mainland company is an onshore company licensed by the Department of Economic Development (DED) of the related emirate which is allowed to do business in the local market as well as outside UAE without any restriction. When it comes to company formation in Dubai, Mainland is the most popular and pragmatic choice as it has the maximum benefits that the country has to offer in setting up businesses. However, there are certain regulations that one has to follow in the process, one of them being – One UAE national has to mandatorily hold at least 51% of the total equity in any commercial company, except in the following cases:-

  • Business activities that permit 100% Foreign Ownership
  • Businesses located in Free Zones
  • Partnerships between GCC companies and UAE National
  • Business activities that permit 100% Local Ownership

The type of license will determine if one needs a local partner(Commercial and Industrial license) or a Local Service Agent(Professional License), Professional license is required when an individual or a group individuals provide their expert service, and the business is 100% owned by the expatriate. The local Service agent act as representatives in administrative dealings with government departments. The local service agent does not hold a stake in the business and is instead paid an annual fee for their service.

We’ve got the perfect solution for you to begin your entrepreneurial journey and live in the UAE! Our SME Packages now come with a FREE RESIDENCE VISA along with a range of exclusive benefits and discount.

Your License options with Dubai Mainland Commercial

Companies involved in any sort of commercial trade activity can avail this license, both general and specialized traders need to obtain the license to carry out business operations safely throughout Dubai. Under this license 51% of shares are owned by a UAE national and 49% by the expat owner.

Professional

In professional license, 100% shares is owned by expat partner and a UAE national is appointed as a Local Service Agent. The license is acquired for non-physical services like consultancy.

Industrial

The industrial license in Dubai is issued for those companies that transform natural material or natural resources into other final products and or is into any other type of manufacturing activities. Under this license 51% of shares are owned by a UAE national and 49% by the expat owner.

Tourism

Dubai provides 3 main types of license namely: Travel agency license as an operator of inbound tourism, Travel agency license as an operator of outbound tourism and Travel agency license as a travel agent.

4 Major steps to set-up a business in Dubai

  • Registering Your Company Name
  • Acquiring a Business License
  • Completing the Visa Processes
  • Opening a Bank Account

Offer includes

  • Multiple business activities available
  • Lease agreement with all packages
  • Multiple year packages
  • Installment plans available

Ideal for

  • Trading
  • E-Commerce
  • Consultancy
  • Media
  • And many more

Main Benefits

  • Online signing of Memorandum of Association
  • Multiple business activities available
  • 0% easy payment plan with banking partners
  • Selections of workstations & offices

Facilities that suit your need Co-working Space

Ideal for Freelancers, startups and entrepreneurs, located in Compass Co-working Centre.

Serviced Offices

Situated in a collaborative environment, are perfect for companies looking for a cost-effective and convenient workspace option.

Standard Offices

Private office spaces for SMEs opting to build a strong market presence.

Customizable Offices

Undeveloped facilities ready to be fully customized according to your needs.

Freelance Visa

What is a Freelance Visa and License in Dubai?

Since 2019 Freelancers have been legalized in the UAE. Tutors, sport coaches, musicians, artists, designers, media professionals can now obtain a permit and provide services legally anywhere in the UAE. They can get a Dubai Freelance visa and live permanently in the UAE.

Freelancer visa can be provided by multiple authorities. The choice is big. Check how to pick the right Dubai Freelance visa for your personal business. Freelance visa is a UAE residency visa, which allows living in this country. It’s kind of a self visa in UAE – meaning that there is no company or sponsor behind you.

The visa is issued based on a Freelance permit – a work permit for a Freelancer. Such a work permit in the UAE can be granted by a few licensing authorities – mainly free zones. Almost every Emirate has a free zone which can issue a Freelance license and a visa.

Your Freelancer visa will look like a normal UAE residency visa, a pink stamp in the passport, valid for 2 or 3 years.

Freelance license of UAE

Freelance license in Dubai and UAE is a permit issued to a freelancing individual, that allows to work legally anywhere in the country. If you are a Freelancer, you may not need a resident visa (if your visa is under your spouse or a company), but you need a Freelance permit.

In other words, a Freelance visa is optional, but a Freelance permit is mandatory for anyone who wants to practice publicly and charge a fee for it.

Who can be a Freelancer in UAE

The short answer is – anyone! If you want to be independent and start working for yourself, you have a great chance to try for it. Thanks to a huge list of approved professions, nearly any person can find a suitable option for Freelance work in the UAE.

Educational certificates or degrees are not required in most cases. Previous Freelance experience is not mandatory.

Benefits of being a Freelancer in UAE

Without doubt, freelancing has lots of advantages:-

  • Self time management
  • Ability to control own workload
  • Doing what you like
  • Having longer holidays
  • Being your own boss
  • Ability to travel and live in any place
  • Getting UAE residence visa
  • Sponsoring a family

Being one of the safest countries in the world, UAE is a great place to start off your Freelancing journey. According to research, over 60% of UAE residents would like to become Freelancers if they get a possibility.

What can a Freelancer legally do in Dubai

Regardless of your profession, when becoming a Freelancer and obtaining an official Freelance permit, you are allowed to:-

  • Provide services to private individuals
  • Provide services to businesses
  • Raise Invoices and receive payments
  • Work with government agencies

Requirements to become a Freelancer in UAE

As mentioned above, there are no strict requirements in terms of professional background for the majority of Freelancers. You just need to collect certain documentation and apply.

Generally, the required documents would be:-

  • CV
  • Passport copy
  • Visa and Emirates ID copy (if you are a UAE resident)
  • No objection letter from current sponsor (if you are a UAE resident)
  • Recent photo
  • Portfolio of works (if applicable)

A Freelance visa is a “Residence visa” that allows you to live in the country. You will also need a work permit or Freelance license to start legally Freelancing in the UAE, along with a Freelance visa.

Where to get UAE Freelance permit & visa

UAE has dozens of business registration authorities. You have multiple options, Freelance visa in Dubai or another Emirate. Regardless of the place where your permit and visa is issued, you have the same rights to work all over the UAE. The difference between various licensing authorities is in the business activities which they provide for Freelancers, and the costs.

Freelancer visa in Dubai

If you are looking for a cheap Freelance visa in Dubai, Dubai South will be the best option. Freelancer visa in Dubai can be done by getting a Freelance permit from the different local authorities.

UAE Visas

Tourist visa

Depending on your plan, tourist visas to the UAE can be issued for 30 days or 90 days for single or

multiple entries. Tourist visas can be extended for 30 days twice, without the need to leave the country.

Who is a Tourist visa for?

Tourist visa is for those who are not eligible for visa on arrival or a visa-free entry to the UAE. Tourist visa can be obtained for eligible individual tourists from around the world. Females below the age of 18 are not eligible to apply for this type of visa unless they are travelling with their parents.

According to a Cabinet resolution passed in July 2018, children under the age of 18 years who are accompanying adults, can get a free visa for their visit from 15 July to 15 September each year.

Multiple Entry Tourist visa for all nationalities

A new multiple entry tourist visa can now be issued for all nationalities, in a step that aims to facilitate the process for tourists and visitors. The five-year visa enables tourists to enter multiple times on self- sponsorship and remain in the country for 90 days on each visit, which can be extended for another 90 days.

What is the validity of a Tourist Visa?

Depending on your plan, tourist visas to the UAE can be issued for 30 days or 90 days duration, single entry or multiple entry. Recently, the UAE facilitated a five-year visa which enables tourists to enter multiple times on self-sponsorship and remain in the country for 90 days on each visit, which can be extended for another 90 days.

Renewing or extending Tourist Visa

All types of visit and tourist visas can be extended for 30 days twice, upon applying for it and after successful approval by the relevant authority. This can be done without the need to leave the country.

Visitors and tourists can apply for the second renewal before the expiry of the first one against AED 600 each time of renewal.

Visa Over-stayers who do not renew as above, will have to pay AED 100 fine for each day of their overstay to be calculated from 10 days after the visa expiry.

However, the new rule for extension does not apply on the following categories:

  • visitors and tourists who are residents in GCC countries
  • residents accompanying GCC nationals
  • those on special entry permits
  • those on 96-hour permit for special missions

UAE Residence Visa

How to become a resident in UAE and who can live or reside in the UAE?

Foreigners can live as residents in the UAE if they are:-

  • Employed by a company in the UAE – in this case, the company will apply and sponsor your residence visa while you are in the UA
  • Employed by the government sector – in this case, the government entity will apply and sponsor your visa while you are in the UAE
  • Investment in a business in the UAE – in this case, the investor himself will process and apply for his own visa under the sponsorship of his company’s registered name
  • Buy a property in the UAE – in this case, the property owner’s residence visa will be sponsored under the property he owns

Dependents that are sponsored by:-

  • Someone who is employed in the UAE
  • An investor/business owner in the UAE
  • A property owner in the UAE
  • Dependents include children, parents, maids and close relatives
  • University students sponsored by their universities in the UAE – in this case, the university will apply and sponsor your visa under the educational institution’s name
  • Retired residents – in this case, special conditions apply

Note that a residence visa is issued to a foreigner when he/she is already inside the country after entering the UAE via an entry permit, short or long-term tourist or visit visa.

Validity of a Residence Visa

The validity of stay on a residence visa varies according to its type and the sponsor. It can be for 1, 2 or 3 years or up to 5 or 10 years without a sponsor.

According to recent changes, a residence visa can also be issued for 5 and 10 years subject to certain conditions.

Benefits of having UAE Residence Visa

Being a legitimate resident in the UAE will entitle you to:-