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Registering property in Dubai: how to do it right

18.04.2016
Registering property in Dubai: how to do it right
DLD said it would impose a penalty for late registration of real estate ownership.

Buying and selling property always comes with certain legal issues, the complexity of which depends on the country. In Dubai everything is quite simple in this regard, but when conducting real estate transaction it still is better to turn for professional advice.

As imexre.com has previously mentioned, the first step DLD made in real estate market regulating was doubling the registration fee from 2 to 4% in October 2013. However, Dubai authorities refused to further increase the fee, and today real estate registration fee in Dubai is one of the lowest in the world. Nevertheless, many investors, who have bought real estate property in Dubai, still didn’t get their property registration, thus the Department decided to double the fee for violators. That is, those who still haven’t paid a fee of 4% will have to pay 8% of the transaction cost. The previous deadline for the payment referred to October 31, 2015, but today all the deadlines have passed.

International experience shows that countries facing an uncontrolled boom in the real estate market often raise various fees associated with property transactions several times, in order to stabilize the situation. At the same time the size of fees may be adjusted according to various factors that hinder speculation, such as the period of the property owning before its resale, the buyer’s nationality, the intended use of the purchased property for own accommodation or for investing. As a result, in some countries, such as Singapore, registration fee can be up to 30% of the property cost in case of its too fast resale.

In order not to be trapped with real estate registration issues in Dubai it is better to turn to professionals. Many people know there is no real estate tax in Dubai, and it's true, but for the real estate transactions, however, the broker has to be licensed with the appropriate authorities. IMEX Real Estate experts are ready to give you all necessary legal assistance in this regard. Our Seller’s Guide and Buyer's Guidewill help you solve all the questions related to the real estate acquisition and sale in Dubai, but if you still will have any questions, IMEX Real Estate are pros are always there to help.

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Lease process (Rent out)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.
Real estate search.

Up to 5 days

Real estate search.

Selection of optimal options.

Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Property Selection

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Customer charges:
  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration
Additional services:

Property management

Sales Process
Contract of the lessee and agency.

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership
Ad placement

1 day

Ad placement:
  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.
Signing of the lease agreement

Up to 2 days

Signing of the lease agreement
Expenses of the seller:

None

Additional services:

None

the management process
Contract of the owner and agency

1 hour

Contract of the owner and agency
Rendering of management services

1 year

Rendering of management services
Reporting

1 day

Reporting
Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process
Contract of the tenant and agency.

1 hour

Contract of the tenant and agency.
Selection of optimal investment options

From 3 days

Selection of optimal investment options
Registration of the contract of purchase / sale

1 Week

Registration of the contract of purchase / sale
Expenses of the investor:
  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration
Additional services:

Property management