Collection of documents for buying an apartment in Dubai: main criteria and recommendations

Posted at 10:00h in Life style by

Buying an apartment in Dubai is not only a profitable investment, but also a relatively simple process, especially for foreign citizens. The Emirate’s authorities have created a transparent and understandable system for processing transactions, thanks to which the interest in the real estate market from investors from different countries does not fade. However, in order for the purchase to take place without delays and unnecessary difficulties, it is important to prepare the necessary documents in advance.

First of all, it is worth noting that a resident visa or UAE citizenship is not required to purchase Apartments for sale in Dubai. Foreign citizens can freely purchase real estate in specially designated areas. The purchase process begins with the selection of an object and negotiations with the seller or developer, but the legally significant stage is the signing of the purchase and sale agreement and registration of property in the state register.

Basic list of documents for an individual buyer:

  • foreign passport;
  • signed preliminary purchase and sale agreement;
  • confirmation of deposit payment;
  • individual buyer identification number in the Dubai Land Department database, which is issued upon the first purchase.

In some cases – a copy of the resident visa and Emirates ID.

If the purchase is made through a mortgage, it is necessary to provide:

  • proof of income;
  • approval from the bank to issue a mortgage;
  • additional documents requested by the bank on an individual basis.

For legal entities, the list of documents is wider – constituent documents, licenses, powers of attorney and information about the beneficiaries will be required.

After signing all agreements and making full payment for the property, the transaction is registered with the Dubai Land Department. At this stage, the buyer must pay a registration fee – 4% of the value of the property, as well as an administrative fee and payment for the services of the registration center.

It is important to emphasize that the entire process can be completed with minimal personal participation if you work with a professional broker. In this case, some of the actions and submission of documents can be performed through a power of attorney certified in accordance with all DLD requirements. So, collecting documents for buying an apartment in Dubai is a logical and transparent stage, which does not cause difficulties during preliminary preparation. Buyers should only carefully consider the preparation of documents, check the accuracy of the information and, if necessary, use the support of an experienced specialist.