Expatriates, new investors, or those who want to own a housing unit may ask what about the property law in the United Arab Emirates. Some also know that the United Arab Emirates is the best place for your start as an investor or resident, as it supports you in building your company. What are the regulations and laws that allow me to own a property. There are several systems for that, and they are as follows property system.
Certain title deeds for foreigners include the ownership of housing units without land for a period of about 99 years, and gives them the right to fully dispose of the apartments and villas they buy without land.
Foreigners can own residential units within certain investment areas under “musataha” contracts for a period of 50 years, renewable by agreement of the two parties for a similar period, which enables construction on unused land. Musataha contracts entitle the owner to enjoy the use of the property and build it or change it during a specified period of years.
Foreigners can own residential units within certain investment areas under “usufruct” contracts for a period of 99 years. The usufruct contract entitles the owner to enjoy the use of the property and its facilities without the ability to change it.
Long Term Rental System
The right to rent units for an initial period of no less than 25 years.
His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the State, may God protect him, in his capacity as Ruler of the Emirate of Abu Dhabi, issued a law amending some provisions of Law No. 19 of 2005 on real estate ownership, granting non-nationals the ownership of real estate located within investment areas and making any disposal of it.
The new law stipulates replacing the texts of Articles 3 and 4 of the law, as the new Article (3) stipulates that the right to own real estate is limited to the following categories, namely citizens and the like, natural and legal persons, and public shareholding companies in which the percentage of non-nationals’ contribution does not exceed 49% and everyone on whom a decision is issued by the Crown Prince or the Chairman of the Executive Council.
Amending the provisions of the Real Estate Ownership Law in Abu Dhabi and granting non-nationals the right to own real estate located within investment areas and to make any disposal of it
The law stipulates that non-citizens, whether natural or legal persons, have the right to own and acquire all the original and dependent rights in kind over real estate located within the investment areas, and they may take any action on these real estate.
The new Article (4) stipulates that whoever has a usufruct or a musataha right for a period of more than ten years, without the owner’s permission, can dispose of this right, including its mortgage. Otherwise.
His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, directed His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Chairman of the Executive Committee of the Abu Dhabi Government, to study ways to develop the real estate sector in Abu Dhabi in line with the best international trends and standards and enhance The investment climate in the emirate.
His Highness Sheikh Khalid bin Mohammed stressed that the new law contributes to strengthening the capital’s position as a leading investment destination and keen on sustainable development. Heads of real estate companies and legal and real estate experts in Abu Dhabi praised the law, stressing that it constitutes a strong impetus and a qualitative leap to attract foreign investments to the real estate sector in Abu Dhabi. It injects more liquidity into the market, activates the economic movement, and enhances Abu Dhabi’s position as a leading investment destination in the region. They said that it includes the issuance of real estate titles to investors and removes restrictions on non-nationals, whether they are investors or renters, thus giving the investor and beneficiary the right to dispose of the property. It establishes the investor’s ownership when it prevents the owner from freely disposing of the real estate owned by the beneficiary or the owner of the musataha.