RAK Offshore Companies Qualified To Buy Property In Dubai
Now RAK Offshore Companies are qualified to purchase and own real estate properties in Dubai. Effective from January 2011, all offshore companies were not allowed to own properties in Dubai, except for companies registered in Jebel Ali Free Zone. This has changed now. One major real estate news story stood out last month in Dubai.[…]
Case Study: Why a Foreign Company Was Not Able to Get a Title Deed
A foreign company (the “company”) acquired an off-plan property in Dubai before January 2011 when it was allowed for overseas companies to own real estate. The construction of the property was completed only in 2019 and the company needed to take possession of the property and obtain a Title Deed. Issue Faced Effective from January[…]
Benefits Vs. Risks of Giving a Power of Attorney
A Power of Attorney is a legal document in which one person gives another person, the agent, the right to perform certain tasks or make decisions on his or her behalf. Authority A Power of Attorney can be as broad or narrow as the principal makes it. He can give general powers or restrict the[…]
Whom You Can Gift Your Property To In Dubai?
Technically speaking you can gift your assets including your real estate to whoever you wish, whether the beneficiary is your relative or not. However, officially, not all property gift transfers are qualified as property gifting in the eyes of regulatory authorities, i.e. Dubai Land Department (DLD). One of the main reasons is that the gift[…]