How to formalize the purchase of real estate

Is it possible to pay with cryptocurrency?

Yes, but not every company provides such an opportunity. Developers who sell real estate for Bitcoin or Ethereum cryptocurrency: Damac, Ellington and Samana.

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“It is important to keep in mind that developers often revise their policies on acceptable payment methods. Before planning a purchase, it is important to clarify the possibility of paying with cryptocurrency directly with the developer” Anastasia Romanovskaya, Head of International Commercial права

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Is it possible to pay from a Russian account?

This option is possible if your bank is not on the sanctions list. The bank must also have the ability to transfer via SWIFT.

There is an official application of the land department - Dubai REST.

In it you can check:

• The counterparty company's license (only licensed brokers can enter into transactions).
• Project completion status (if you are purchasing a property under construction).

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No property taxes

There is no property tax in the UAE. However, a fee is payable when changing the owner. Each emirate sets its own amount. For example, in Dubai it is 4% of the purchase price. This fee is usually paid by the buyer. There are also administrative fees for registering the property rights.

Unrestricted ownership in free zones

When you buy a property in Freehold zones, you become the full owner of the property and can dispose of it as you wish: resell, lease it for a long or short term, give it away as a gift, and even alienate it. This right will subsequently be transferred to your heirs.

Security of transactions and control over them by authorities

The authorities are interested in foreign buyers and new investments, so they closely monitor compliance with the laws. Additional guarantees are provided by large developers who also participate in concluding transactions.

Possibility of obtaining a residence permit after purchasing real estate

When purchasing any type of property worth more than AED 2,000,000, the buyer has the opportunity to obtain a “golden” visa for a period of

for 10 years. You can also get such a visa when buying real estate with a mortgage or installment plan, if the buyer has paid an amount of at least

in 1,000,000 AED. The owner can be either a man or a woman.

The Golden Visa can be extended an unlimited number of times while continuing to own property and complying with UAE laws. 

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“An important detail: after purchasing real estate, we recommend not to delay drawing up a will. In the event of the death of the owner of the real estate without a will, his property will be distributed according to Sharia law” Alexey Romanov, юрист

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