Real Estate

Have you ever thought what would happen to your UAE real estate in case something unfortunate occurs?

Companies registered under RAK International Corporate Centre (RAKICC) also known as RAK offshore companies can buy property in Dubai’s free-hold areas.

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.

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).