Aklan International - Property Specialists for North Cyprus and Turkey

How to Buy - Northern Cyprus

How to Buy - Turkey

How to Buy - Dubai

Inspection Trips

Introduction
Buying property in Dubai is probably the simplest procedure of anywhere in the world. In May 2002 Dubai’s rulers issued a decree that foreigners were legally entitled to own freehold property and that purchasers of property receive a free resident’s visa.
Most importantly for investors, Dubai simply has no taxes of any kind for both onshore and offshore activities. Dubai is not a ‘tax haven’, but a country with no taxes of any kind, or indeed a tax department.
Contract and Payment
having chosen your desired property you will sign a contract with the developer, which includes the payment terms. Expect to pay a 15% - 20% deposit followed by stage payments related to the build. Even though Aklan International uses reputable multi-national developers, we always recommend using a solicitor and we shall supply contact details of a suitable solicitor with knowledge of Dubai property.
The main purchasing fee payable other than the solicitor is a Sales Registration Charge. This is a 2% charge, which 1.5% is paid by the buyer and 0.5% is paid by the seller to the Dubai Lands Department, which registers the movement of real estate exchange.
Continuing Payment
The property developer forms an association of residents. This association comprises of the residents of the building and has a president and manager. The association is responsible for day-to-day management of the building including the facilities - swimming pool, health club, Jacuzzi’s, saunas, tennis courts, landscaped gardens, 24 hours security, etc. The association is non-profit making so payment is at actual. The contract of purchase also details caps on the individual payments to the residents association.

COST OF BUYING PROPERTY IN DUBAI
Buying Property in Dubai - Cost Purchasing Property
Beyond the purchase price of your property, you can expect the following costs when purchasing:
• 0% (None) Property taxes & yearly taxes (There are no taxes in Dubai)
• 1.5% purchase fee
• £800 Solicitors fees maximum: Aklan International always recommends using a solicitor or lawyer familiar with Dubai property laws.
• Maximum £1.80 per ft2 communal charge to residence association.
• Utility bills at cost