Apparently there are so many investors in the UAE but permanently based outside and sometimes it might be preferable to assign a POA rather than personally visiting the country for samall tasks.
Property Gifting Vs. Inheriting
Have you ever thought what would happen to your Dubai real estate in case something unfortunate occurs? Yes, it will go to your legal heirs. But how? Your legal heirs have to go through the estate devolution process in the court which can be time-consuming and complicated if your legal heirs are not in the country. Moreover, your property not always goes to the people that you wished. So what to do? Gift your property to your family during your lifetime and rest assured that you left your property to the person you wished.
Power of Attorney Common Misconceptions
Miraziz, founder of POA.ae, explains in a general overview what are the common misconceptions relaed to a Power of Attorney. He goes on to explain what is a Power of Attorney, liability of the attorney and to what extent a POA is valid.
Who Can You Gift Your Property To In Dubai?
Officially, not all property gift transfers are qualified as property gifting as per the Dubai Land Department (DLD) rules. One of the main reasons is that the gift transfer carries a far lesser transfer fee paid to the DLD as opposed to the sale-purchase transfer.
As per DLD rules, gift transfer between first degree relatives can be considered as property gifting and can qualify for the reduced transfer fee.