UAE alternatives for trader/investor.

[JackAlabama]

To much major real estate is owned by foreign buyers in the UK.
Canary Wharf where the HSBC, Barclays CITI, JP Morgan and others have their HQ. Is owned by the Qatari's. Trophy Hotels owned by Saudi and Thai investors and major shopping centres like Westfield are owned by Australian's.

The UK will never impose such a law.

They will be exempt for being of a particular interest whereas you and me without these brands and connections are being hosed.

 

[CaptK]

They will be exempt for being of a particular interest whereas you and me without these brands and connections are being hosed.

They tried that with Russians and Putin retaliated by getting the owners to sign the properties over to the state and he made them property of the Russian Embassy London.

If they were to do that the confidence in the UK market would be destroyed and then the GBP would tumble.

 

[Davis123]

They did this by opening a branch office of the freezone company in the UAE mainland.

I knew they had to do something to operate in mainland

To much major real estate is owned by foreign buyers in the UK.
Canary Wharf where the HSBC, Barclays CITI, JP Morgan and others have their HQ. Is owned by the Qatari's. Trophy Hotels owned by Saudi and Thai investors and major shopping centres like Westfield are owned by Australian's.

The UK will never impose such a law.

UK is the best place to invest in real estate for a foreigner. Too many Asian politicians and billionaires like Ambani, Mittal own properties in London as it's the most prestigious and profitable place. UAE is second best. Please forget about USA as it's a tax hell hole.

 

[CaptK]

I knew they had to do something to operate in mainland

I saw it was an FZ when I used them and I was like WTF!!! then a little research then I found out.
I then reaslised quite a lot of international companies have done this to get round the 51% partnership with Emiraties.

 

[Davis123]

I saw it was an FZ when I used them and I was like WTF!!! then a little research then I found out.
I then reaslised quite a lot of international companies have done this to get round the 51% partnership with Emiraties.

I think with the new law they have passed recently you can open companies in mainland now without requiring locals in partnership. They are also looking into granting UAE citizenship to people with required investments plus Arabic skills(not a law yet ). That's per gulf news reports.

 

[CaptK]

I think with the new law they have passed recently you can open companies in mainland now without requiring locals in partnership. They are also looking into granting UAE citizenship to people with required investments plus Arabic skills(not a law yet ). That's per gulf news reports.

Correct, now you can open a mainland company but I haven't gone into the details yet as each Emirate can set there own rules around this.

 

[JackAlabama]

I think with the new law they have passed recently you can open companies in mainland now without requiring locals in partnership. They are also looking into granting UAE citizenship to people with required investments plus Arabic skills(not a law yet ). That's per gulf news reports.

That is good news. UAE really made themselves more attractive.
I spent there some time and liked the place but now I would not mind moving to.
Can you buy property remotely or with crypto there?

 

[Davis123]

That is good news. UAE really made themselves more attractive.
I spent there some time and liked the place but now I would not mind moving to.
Can you buy property remotely or with crypto there?

It used to be that some people bought properties on someone else's name with a POA remotely but I wouldn't advise nowadays. Before CRS took effect, you could have opened up an account in UAE remotely too but not anymore. Yes it might still be possible for you to buy a property in someone else's name by POA. There are some real estate companies who could arrange for you to cash out your cryptos and bring it to UAE after cashing them overseas but directly buying through cryptos in UAE is not possible as of now. As long as you have lots of money there are ways to do everything. Ask people in mentor group or CaptK.

 

[JackAlabama]

It used to be that some people bought properties on someone else's name with a POA remotely but I wouldn't advise nowadays. Before CRS took effect, you could have opened up an account in UAE remotely too but not anymore. Yes it might still be possible for you to buy a property in someone else's name by POA. There are some real estate companies who could arrange for you to cash out your cryptos and bring it to UAE after cashing them overseas but directly buying through cryptos in UAE is not possible as of now. As long as you have lots of money there are ways to do everything. Ask people in mentor group or CaptK.

thanks. ok, I might get the mentor gold account here soon.
I would also be open to get a residence visa there.
What is the understanding of lots of money there exactly?
7 digit or does it already need to be 8 digits and more?

 

[CaptK]

It's cheaper to set up a company and get a visa then go via the golden visa route.

Crypto to purchase property is becoming very common but it has to be done the right way.

Don't buy via the POA route it's not accepted in the UAE anymore I can tell you stories where guys have become overnight millionaires because of it. A lot of investors crying because they thought the contract stood up but in court it broke some law.

For initial purchase due to the investor not being able to get there POA was fine but because they left it in their name for a couple of years it now broke some law.

thanks. ok, I might get the mentor gold account here soon.
I would also be open to get a residence visa there.
What is the understanding of lots of money there exactly?
7 digit or does it already need to be 8 digits and more?

 

[Davis123]

It's cheaper to set up a company and get a visa then go via the golden visa route.

Crypto to purchase property is becoming very common but it has to be done the right way.

Don't buy via the POA route it's not accepted in the UAE anymore I can tell you stories where guys have become overnight millionaires because of it. A lot of investors crying because they thought the contract stood up but in court it broke some law.

For initial purchase due to the investor not being able to get there POA was fine but because they left it in their name for a couple of years it was now broke some law.

Besides if the person who owned properties for someone dies unexpectedly then their own inheritors would own those properties by inheritance laws here. Your POA wouldn't work in case of death of the person. I would never recommend it for temporary reasons either.

 

[Davis123]

thanks. ok, I might get the mentor gold account here soon.
I would also be open to get a residence visa there.
What is the understanding of lots of money there exactly?
7 digit or does it already need to be 8 digits and more?

7 digits is fine for UAE. Of course you could always bring in more.

 

[El Raton]

I'm most likely going for the 3 year Property Visa. I can't be bothered to set up some pretend company that will have no revenue. I'm thinking that even if the property prices continue to fall another 20% or so, that's fine and this setup will still be worth it for me.

Has anyone actually been though this process or seen any OFFICIAL information on this visa?

I can find official info on the 5 year (5M) investment visa (on both DLD and the DED website), but nothing on the 3 year.
https://dubailand.gov.ae/en/service...or-a-residency-visa-for-real-estate-owners/#/


On this visa I'll not be allowed to work inside the UAE, so I'll have to check if there are any restrictions on trading stocks and investment income. Anyone know?

 

[JackAlabama]

I'm most likely going for the 3 year Property Visa. I can't be bothered to set up some pretend company that will have no revenue. I'm thinking that even if the property prices continue to fall another 20% or so, that's fine and this setup will still be worth it for me.

Has anyone actually been though this process or seen any OFFICIAL information on this visa?

I can find official info on the 5 year (5M) investment visa (on both DLD and the DED website), but nothing on the 3 year.
https://dubailand.gov.ae/en/service...or-a-residency-visa-for-real-estate-owners/#/


On this visa I'll not be allowed to work inside the UAE, so I'll have to check if there are any restrictions on trading stocks and investment income. Anyone know?

What is the minimum amount for the property visa? Depending on that 20% can be quite a chunk especially if you are not living in it almost full time.
I would rather have another company.

 

[bibing]

Let's not forget a lot of the selling of condos in UAE was by people realizing how s**t the quality of construction is over there. I was one of them.

 

[JackAlabama]

Let's not forget a lot of the selling of condos in UAE was by people realizing how s**t the quality of construction is over there. I was one of them.

is it worse than in the south east asian places where you pay 100k + for a small shoebox?

 

[troubled soul]

Which project are you talking ?

 

[bibing]

Which project are you talking ?

JLT. I won't mention the building sorry.

Don't get me wrong... I liked the location (still today I think is one of the best), my building was literally a few steps from the metro station but the building was just awfully maintained (in fact there were always leaks) and no, you don't get leaks because it's too hot but because you use s**t materials.

 

[bibing]

is it worse than in the south east asian places where you pay 100k + for a small shoebox?

Not sure where in SEA but I lived in condos in Philippines and they were built better.
They need to, because they are a sismic area.
Thailand were fairly better too, and they make an effort to hire designers. Not sure about other SEA countries

 

[bibing]

On a side note, UAE property prices never recovered since the 2008 crisis. Somebody mentioned here the top was 2014, but it's not.

In fact I bought my condo in 2007 (still under construction) and sold it in 2014 (luckily) at a discount of 15% of what I bought it for. The only thing that saved my purchase is the currency exchange difference. So I managed to recover my money.