Freehold Property in Dubai in 2024: Best Investment Opportunities Revealed

Dubai is home to hundreds of international companies and millions of international expatriates. It is the foreign flavour of the city that makes it unique. So why come to Dubai so many companies, investors, and entrepreneurs? A necessary explanation is that it is a very lucrative place to invest, with excellent returns on investment. In this article, we have discussed freehold property in Dubai in 2024.

Investment in property in Dubai is beautiful for several reasons. The number of buildings is abundant; the city offers unbelievable lifestyles and excellent rents for investors who want to live in their property. The Emirate has a well-established record that offers solid returns for investors. And Dubai also shows clear signs of recovery in the present pandemic situation.

About Freehold Property in Dubai in 2024

The government of Dubai has actively pursued its policies to attract foreign investment in property and other industries. The offer of long-term residence visas for property-buying investors in Dubai is one of his latest initiatives for 2023. Dubai's real estate market has been a magnet for investors from all around the world, and one of the key factors contributing to its appeal is the concept of freehold property. Owning a freehold property in Dubai allows investors and expatriates to have full ownership of the property and enjoy a range of benefits. In this comprehensive guide, we'll delve into the details of freehold property in Dubai, explaining what it is, its advantages, and how to navigate the process of acquiring freehold property.

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Eligibility for Buying Property in Dubai

The seven different emirates have different rules on ownership of property and foreign nationals. However, everybody in Dubai can buy an estate, provided they have money. You don't have to live or work in the Emirate, and the age limit doesn't exist.

Only in designated areas for foreign investment will freehold properties be acquired. However, this is not exclusive since Dubai has a lot of freehold areas. Thus, international investors could purchase property in Dubai City, Dubai Marina, or other items in one of the new international golf communities. There are numerous different types of properties, including Damac Hills Villas, that would be attractive to investors from abroad. Another great reason to consider buying here is the latest real estate visa.

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Types of Freehold Property in Dubai

The UAE government proposed new visa categories for investors, including buyers of UAE land, in early 2020.

1. 10-year Residency Visa

Anyone who invests at least AED 10 million in the US is eligible for a 10-year residence visa. A maximum of 40 percent, or AED 4 million, of the investment can be invested in the immobilisation sector. This can be divided into a cumulative value of AED 4 million in three assets. The remaining 60 percent must be invested in other industries.

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2. 5-year Residency Visa

An investor who purchases a property worth at least AED 5 million can receive this visa, which can be divided into up to 3 properties. You don't need to make more savings, unlike your 10-year visa.

Conditions for Availing Visa

Some requirements apply to people who want one of the two land visas. First of all, you must consent to continuing your property investment for three years. You must also assert that you did not borrow money to shop. These visas to live on a leasing property or off-plan construction are invalid. However, freehold and full properties are eligible, meaning Dubai offers plenty of investment options.

Visa Application Process

If you complete your purchase and send your application to the Dubai Land Department, you only need to collect suitable materials. You must include different documents in your application to check your identity and eligibility. Copies of your passport, existing UAE visas (where applicable), bank statements, banknotes, and title acts for your new UAE assets are included. A reference from the Dubai Police must also be given to certify good behaviour. You are also allowed to buy property by your partner; in this case, you must supply the related documents above with a copy of your marriage certificate.

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Advantages of Owning Freehold Property in Dubai

Investing in freehold property in Dubai comes with several advantages, making it an attractive option for both investors and those looking for a place to call home.

1. Full Ownership Rights

As a freehold property owner, you have the complete right to use, sell, lease, or inherit the property as you see fit.

2. No Expiry of Ownership

Unlike leasehold properties with limited tenure, freehold properties provide perpetual ownership, giving you long-term security.

3. Diverse Property Options

Dubai offers a wide range of freehold property options, from luxurious villas and apartments to commercial spaces and plots of land.

4. Rental Income Potential

If you choose not to reside in the property, you can generate rental income by leasing it to tenants.

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5. Capital Appreciation

Dubai's real estate market has witnessed significant capital appreciation over the years, making it a lucrative investment for potential returns.

6. Residency Benefits

Owning freehold property in Dubai may grant you eligibility for a residency visa, depending on the property value and other criteria.

7. Access to Amenities

Many freehold developments come with top-notch amenities like gyms, swimming pools, parks, and recreational facilities.

8. Prime Locations

Dubai's freehold projects are often in prime locations, offering residents easy access to major landmarks, business districts, and leisure destinations.

The above investment visas allow your spouse and dependents to be funded so they can also benefit from the same benefits. You will expand your sponsorship to include a managing director, a consultant, and your family if you successfully secure a 10-year residency visa.

You can easily upgrade your five-year and 10-year visas and keep your investment.

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Final Words

So this is all you need to know about freehold property visas in Dubai in 2024. For more information and to apply for a Dubai Visa, you can reach out to Dubai E Visa Online, and you will get answers to all your queries from their Customer Support team.

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