Who can Buy? :- Anybody can purchase in Dubai's luxury freehold property market.

Leasehold or Freehold? :- Freehold is  available on many of the developments in Dubai. Some projects are 99 year leasehold.

Payment Terms:- In general, a deposit representing 10 - 15% of the buying price is required at the contract-signing stage for all new development properties.  Each devloper will offer a deifferent payment plan.

Payment Terms for Completed Property:- Completed property needs to be paid in full (100%). The developer will charges a 1-2% transfer fee to put the property contract into your name and the contract will follow in about 2 weeks.

Bank Accounts:- Buyers do not need a local bank account to arrange purchase.

Purchase Timescales:-Purchase normally take no longer than two weeks to complete. It is important tohave your funds ready in order to prevent disappointment.

Goverment Tax:- There are currently no government taxes of any kind when purchasing a property in Dubai nor  is there Capital Gains Tax. When the Dubai Lands Department registers title, buyers will pay a 1.5% tax based on the purchase price of the property.  If they have a mortage, they will pay 0.25% of the vaule of the loan.

Residency:- In general, the Dubai Government issues residence visas to new property-owners and their immediate family. These will need to be renewed every three years as per the latest immigration regulations.

Re-Sale:- You can sell your property or assign your agreement to anybody.  This means that they will take over the payments to be made to the developer.

Holding Deposits:- All sellers insist on a holding deposit to secure the property.  This is normally in the region of AED 100,000. Its is non refundable unless the seller pulls out.