Real estate in Dubai is popular and profitable in terms of purchase and rent. This sector is highly developed and provides possibilities for acquiring different types of properties by foreign nationals. Purchase of real estate in Dubai, the UAE may be done through different options, such as:
- purchase of an apartment or house for personal use.
- purchase of residential properties for subsequent lease and generation of profit.
- purchase of commercial properties for own business.
- purchase of commercial property for subsequent lease.
Each of said options has its unambiguous peculiarities - both in terms of knowledge of enforceable legislation, and in terms of applicable laws and regulations. Only professional law firm can ensure trouble free and credible process.
For example, when purchasing residential property for personal use you are advised to consider the validity of registration of property rights, absence of incumbencies, absence of rights of third parties, such as lease agreements, etc.
In case of purchase of residential property in Dubai for further lease, apart from legal issues in terms of registration of title, it is also required to be aware of your rights and liabilities in the capacity of Landlord.
When purchasing commercial real estate in the United Arab Emirates for own business a number of factors shall be taken into account, since such type of real property in Dubai, UAE is subject to many regulations and restrictions relating to authorized or unauthorized types of business and the types of companies that may lease such premises. Therefore, legal due diligence of such transaction is essential.
When purchasing commercial premises in Dubai for subsequent lease it is recommended to verify the transaction in advance in terms of legal aspects and regulations. For example, if you purchase commercial facility having the status of industrial or commercial premises for the purpose of transfer thereof into office center - such project can end up with nothing. Alteration of the status of facility is very complicated or practically unsolvable problem. Furthermore, if there is no due diligence and legal expertise on the stage prior to the transaction, you may find yourself in a situation where the facility purchased by you may not be eligible for the proposed plan.
Even the most qualified real estate agent may not know all details and specifics with regard to residential and commercial real estate and regulations applicable to such real estate in the United Arab Emirates.
We offer professional assistance in verification of documents and performance of due diligence of different properties in Dubai, UAE. Such verification is performed not only with regard to fundamental rights associated with the object, but also for ensuring the compliance of designation of the facility with identified commercial purposes. And, clearly, upon examining and obtaining positive results, we ensure preparing and signing of sales-purchase contract and due and lawful transfer of ownership rights.
