One of my friends from my home country wants to buy an apartment in Dubai. Even though he doesn't live in the UAE, can he buy a house in Dubai? Will he have to be there in person to finish the deal, or can he ask me to watch over the process?
In response to this questions
The “Dubai Property Registration Law” (Law No. 7 of 2006 on Real Property Registration in the Emirate of Dubai) applies.
Under the Dubai Property Registration Law, a person who is not from the UAE can buy either a freehold or a leasehold property in Dubai. Article 4 of the document says:
"The right to own Real Property in the Emirate shall be restricted to UAE nationals, nationals of the Gulf Cooperation Council States, companies fully owned by these nations, and public joint stock companies. Subject to the approval of the Ruler, non-UAE nationals may be granted the following rights in the relevant areas determined by the Ruler:
a. Freehold ownership of Real Property, without time restrictions; and
b. Usufruct or lease rights in Real Property for up to ninety-nine (99) years."
A non-UAE national does not have to live in the UAE in order to invest in or own real estate in these freehold or leasehold areas.
Conclusion:
So, a person, who is neither from the UAE nor lives there, can buy either a freehold or a leasehold apartment.
Also, he didn't have to go to the UAE to finish the paperwork for the purchase and registration. Instead, he could give you a power of attorney and ask you to act on his behalf (PoA).
This person could hire a law firm in Dubai to write the Power of Attorney, and then he could go to a notary public in his own country to have it signed and stamped.
Then, the notarized POA needs to be either apostilled or attested by his country's foreign ministry and then by the UAE Embassy/Consulate in his country. After these steps have been taken, your friend can send you the original PoA.
Reference: Khaleej Times
Note: This blog post is our research and opinion. Please consult an expert before doing anything.
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