Are you non-residential and interested in buying a suitable house for you and your family? Then you are at the perfect place to get all the details. This article will solve all your queries and give you an idea about buying a house in Dubai.
Your main query is that you can buy a home in Dubai as you are a foreigner but seems interested in having your own home. Yes! Definitely can be the owner of your private villa. But the UAE government has made certain rules; as an expatriate, you can only own a house for 99 years.
There are different contract companies with the agreement through different parties, and you can buy your home for 55 and 25 years.
The population of non-residents in Dubai is increasing day by day. Good job opportunities, high living standards, and minor income taxes make Dubai the best place. You will be amused to know that the citizens are just 1.17 Million (11.48%) & Expatriates 9.0 Million (88.52%).
Read | Tips For Buying Affordable Home In Dubai
The Population of Foreigners in Dubai
Dubai has the highest percentage of foreigners. Most of them prefer to live in the capital of Dubai, Abu Dhabi. People who are not citizens of UAE but now they have honed and resided here for 30 years. Then they can apply for citizenship.
Well, we are here to talk about the numbers of expirants from major countries of the World, including Canadians, Americans, New Zealanders, Russians, and Australians.
Canadian community in Dubai
About 41,000 Canadians have been living in Dubai since 2017. There is a Canadian Club for them in Dubai.
The American community in Dubai
Americans exist abundantly in Dubai, and It’s their second home. According to statistics, more than 40,000 Americans have been permanently living in Dubai since 1999.
New Zealanders community in Dubai
New Zealanders in Dubai are 4,000. Initially, they started living as entrepreneurs from New Zealand, and then they were interested in business work and the opportunities they received from Dubai.
Australian community in Dubai
Australian in Dubai around 25,000. They are living because of the use of modern technology. In Dubai, Australians are the 9th biggest overseas.
Advantages Expatriates Get For Having a Home In Dubai
Foreigners get great comfort from having their private zone in Dubai. If you are still confused about investing in a home, you will love to enjoy these benefits after knowing the values of investing in Dubai’s real estate area.
Affordable Prices
Dubai is always considered the best place to buy property in the World. This is because Dubai always offers reasonable prices and luxurious lifestyles.
Therefore, most non-residential residents always prefer their own house to rent a home during their visit. A good home makes you comfortable, and you live in it with a high standard of living. So, there is no risk in having a home in Dubai.
Tax-Free System
According to current rules, Dubai’s real estate sector is not offering taxes on purchased property, and expatriates can avail of this change for buying a home in UAE.
There is no rule for annual tax, income tax, capital gain tax, or any other tax. These benefits attract investors to buy a house in UAE. So, that means you can invest in your future home in a tax-free environment.
Non-Residential Can also be Citizens of Dubai
If foreigners are interested in living in Dubai permanently or for a long duration, they can also apply for nationality.
If you are buying a home for the 50-year residential plan, then you can apply residence visa, and in this way, you can invest in different projects.
But there are certain rules to become a Dubai citizen, including you have never committed any crime and can speak Arabic fluently. Then you can enjoy a luxurious life in Dubai.
Home Management System
The property management systems also manage home purchasing for foreigners. Management companies in Dubai do this task. The agents guide you and ensure you are in safe hands for owning your home.
These companies not only guide you while you are buying a home. After purchasing a home, their agents contact you to give you future details, including tax reports and future property investment purposes.
Stable Economy System
The economy is the main factor that attracts investors to buy property. Dubai is growing its economy is a great speed the whole World.
The UAE government has made good rules for investment, and foreigners can have a dream house with a healthy investment.
Final Words:
Non-residents are no citizens of Dubai but reside for business purposes. If you are interested in having your private living space, then it’s great news for you; you can own a house with tax-free investment and a reasonable price. It is great to have a home in a safe, secure, and advanced technology state.
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