Can Foreigners Buy Commercial Property in Dubai

The magnetism of star-stubbed high-rise buildings of Dubai goes beyond dispute. The growing business potential in Dubai, its extravagant luxury and peerless offerings, such as glimmering experiences, attract business enthusiasts. Given this magnificent outlook, many people ask- can foreigners buy commercial property in Dubai?

This blog will inform you whether outsiders can purchase business spaces in the premise of this world’s most extravagant city. If yes, then what’s the process?

Exploring Business Spaces Option:

Dubai is deemed one of the largest economic hubs. Its business-friendly environment, world-class infrastructure, landmark tourist attractions, and diversified economy have made it achieve this milestone, attracting non-locals to purchase land and seek business opportunities. 

The economy of Dubai has been transformed and diversified. To encourage investment and the scope of its economy, its government has allowed non-citizens to purchase commercial properties on a freehold basis in the premises of the city. 

Non-citizens who have been yearning for their business places are allowed to buy business spaces in some areas of the city. Yes. It is allowed to get ownership of properties, and as a foreigner, you can buy a place to set up your business. If you want to set up your business or multiply your return on investment via letting out spaces to others, you are permitted to have ownership of commercial land in Dubai.

Benefits Of Purchasing Properties In Dubai?

• Extends excellent prospects, attracts foreigners and offers high ROI
• Offers a high-quality lifestyle and is deemed as one of the stable economies
• It is a futuristic community that offers a sustainable living experience
• Its market is regulated, reducing the risk factor
• Its economy is expanding rapidly, providing great offerings to investors
• Property owners are offered visas instantly after buying a unit in Dubai

What Type Of Commercial Properties Can Foreigners Buy?

Non-citizens can purchase various types of commercial properties in Dubai such as offices, co-working spaces, retail stores, villas, lands, commercial buildings, factories and warehouses. Non-residents can have ownership of commercial properties in Dubai. In order to do so, one has to follow certain rules and regulations.

Costs of Buying Commercial Property in Dubai

Knowing the initial expenses of purchasing commercial properties in Dubai is also essential. These primary costs include:

• Property Value: The value of the property itself.
• Trustee Registration Price: AED 4,200, subject to 5% VAT.
• Property Registration Fee (DLD): Typically 4% of the property’s value.
• Value Added Tax (VAT): Currently at 5% in the UAE.
• Real Estate Agencies Brokerage Fees: These may vary.

Where Can Foreigners Purchase Property In Dubai?

There are some designated freehold zones where outsiders can choose to have ownership of a specific space. 

• Dubai Marina
• Downtime Dubai
• Arabian Ranches
• Palm Jumeirah
• Jumeirah Lakes Tower
• Emirates Hills
• Business Bay
• Dubai Sports City

While seeking the ownership of a property in Dubai, you should not ignore the cost factor. Given its matchless business facilities and property demands, prices are quite high. People should rationalize their budgets and get the services of a consultancy firm such as Kelt And Co Realty to meet their desired ends and find a place where they can generate profit on their investment.

Conclusion:

Dubai’s immense business potential fascinates people to start their businesses and make revenue from this prime destination. Its potential is not limited to locals. Foreigners can invest in commercial real estate and also buy residential properties in Dubai and build their fortune in this exclusive city. From offices to co-working spaces to factories to commercial buildings, whatever you want, you can purchase in several distinguished areas of Dubai.

Kelt&CO – Your Trusted Real Estate Partner

Investing in Dubai’s real estate market is an excellent opportunity for foreign investors, and with Kelt&CO’s expert guidance, you can make your real estate goals a reality. Kelt&CO is a reliable real estate business partner who can help you purchase commercial properties in Dubai.

Their team of knowledgeable professionals specializes in selling a diverse selection of real estate, including opulent residences, commercial and residential flats, and villas. From preliminary research to the final transfer of ownership,  Kelt&Co is dedicated to assisting you every step of the way.

Contact them today to start your property investment journey in this dynamic and bustling city.

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