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Must know! Conditions for Chinese people to buy houses in the United Arab Emirates, plan in advance not to step on the pit!
The United Arab Emirates, a land that combines desert wonders with modern luxury, is becoming the preferred destination for global investors to expand into the Middle East market with its three core advantages of "zero taxes, high safety, and top-notch facilities". For Chinese homebuyers, the UAE not only provides permanent property ownership, but also offers the opportunity to obtain a long-term residency visa through purchasing a property. However, the process of purchasing a house involves complex legal terms, financial procedures, and cultural differences, which may pose risks if not adequately prepared. This article will give you a detailed analysis of the core conditions, key points of capital planning and pit avoidance guidelines for Chinese people to buy houses in the United Arab Emirates, so as to help you effectively layout the wealth circle in the Middle East.
1、 Conditions for Chinese to buy houses in UAE
1. Qualifications and identity requirements for purchasing a house
Age and identification: Chinese homebuyers must be at least 21 years old and hold a valid original passport. There is no residency requirement for overseas homebuyers in the UAE, and they can purchase a property directly even if they do not hold a local residence visa.
Golden visa privileges: Purchasing properties worth over 2 million dirhams (approximately 3.8 million RMB) can apply for a 10-year golden visa to the United Arab Emirates, enjoying benefits such as education, healthcare, and opening a bank account.
2. Purchase area and property type
Permanent Property Zone: Foreigners can only purchase properties in designated "permanent property" areas, such as Dubai's city center, Palm Island, Abu Dhabi's Saadiyat Island, Yas Island, etc.
Property restrictions: Non free zone properties must be held by UAE citizens or companies, but the lease term is usually 99 years.
3. Source of Funds and Loan Policies
. Legitimacy of funds: Bank deposit certificates, salary certificates, and other documents are required to ensure the legality of the source of funds for purchasing the house.
Loan amount: Overseas residents can borrow up to 50% of the maximum property value, with a loan term of up to 25 years and an interest rate of approximately 4% -5%.
2、 How to prepare sufficient 'ammunition' for purchasing funds planning?
1. Comprehensive analysis of purchasing costs
. Housing prices: The average price for apartments in the core area is about 20000 dirhams per square meter, and the average price for villas is 40000 dirhams per square meter.
Tax: No property tax or value-added tax, but a 4% land registration fee is required.
. Other expenses: Lawyer fees (approximately 1%), intermediary fees (2%), property management fees (approximately 20 dirhams/square meter/month).
Example: To purchase an apartment worth 5 million dirhams, you need to prepare a down payment of 2.5 million dirhams, taxes of 200000 dirhams, and other expenses of approximately 150000 dirhams, totaling approximately 2.85 million dirhams.
2. Capital going abroad and exchange skills
Compliance pathway: Cross border remittance through banks, each person can exchange 50000 US dollars annually. Any excess can be split between family and friends or processed through UHP cooperative financial institutions.
Cryptocurrency payments: Some developers accept cryptocurrency payments, but they need to be alert to the risk of price fluctuations.
3、 Home purchase procedures and legal risks: how to avoid "hidden traps"?
1. The entire process of purchasing a house
. House selection and signing: Select projects through the UAE real estate website or UHP platform, and sign a purchase contract (subject to lawyer review).
. Pay a deposit: usually 10% of the house price, which needs to be transferred to the developer's regulatory account through bank transfer.
Loan approval: Submit documents such as passport, visa, salary certificate, etc., and wait for the bank's pre-approval.
. Transfer and handover of property: Complete property registration through the UAE Land Department (DLD), pay the final payment and taxes.
2. Legal risks and pitfalls avoidance guidelines
Contract review: Focus on delivery time, breach of contract liability, and payment milestones. For example, if the developer delays delivery, they need to pay a daily penalty.
Property rights investigation: Verify whether the property is mortgaged and there are disputes through UHP's cooperative lawyers. There have been homebuyers who, due to failure to verify property rights, discovered that their properties were mortgaged after delivery, resulting in the inability to obtain property ownership certificates.
Building compliance: The UAE has strict building regulations, and approximately 20% of properties will face property registration issues in 2023 due to non-compliance with the new regulations. Before purchasing a house, it is necessary to confirm that the property has passed government inspection.
4、 UHP exclusive service: making the whole process of buying a house worry free
As a leading local real estate service provider in the United Arab Emirates, Unique Homes Worldwide Properties (UHP) helps you avoid risks and purchase homes efficiently through three core advantages:
1. Exclusive resources: Strategic partnerships have been established with developers such as Aldar and EMAAR to prioritize scarce projects such as NOBU Residences and YAS BEACH Residences.
2. Full cycle service: providing one-stop solutions such as market research, legal consultation, tax planning, leasing and custody. For example, UHP can assist clients in applying for a golden visa and coordinate with the UAE Land Department (DLD) to complete property registration.
3. Local insights: Release the "UAE House Purchase White Paper" to deeply analyze regional policies, market trends, and risk warnings. For example, the white paper warned that "a certain developer transfers risks by modifying the purchase agreement" and suggested that investors hire lawyers to review the contract.
5、 Selected real estate recommendations: the "golden standard" for buying houses in the United Arab Emirates
1. NOBU Residences (Abu Dhabi)
Location: Adjacent to the Louvre Museum and Guggenheim Museum in Abu Dhabi.
Highlight: Created by Nobu Hospitality Group, equipped with a private restaurant, rooftop swimming pool, and owners can share five-star hotel services.
. Investment Value: Starting at 40.84 million dirhams, with an expected rental return rate of over 7%, it is a scarce cultural landmark asset in the UAE for home purchases.
2. YAS BEACH RESIDENCES (Yas Island, Abu Dhabi)
Location: The core area of Yas Island, adjacent to the F1 track and Ferrari theme park.
Highlights: 1-4 bedroom apartments with sea views, equipped with private beaches, yacht docks, and walking distance to the Yas Marina race track.
. Investment Value: Starting at 2 million dirhams, with an average annual rental income of 6%, suitable for buyers pursuing a luxurious seaside lifestyle.
The conditions for Chinese people to buy houses in the United Arab Emirates have been clearly stated. Buying a house in the UAE is not only a necessary option for global asset allocation, but also a technological activity. Through UHP's professional services, you can easily identify scarce assets in core areas such as Saadiyat Island and Yas Island, and enjoy a comprehensive luxury lifestyle from cultural landmarks to private islands. Take action now and embark on your Middle East wealth journey!
必知！中国人在阿联酋买房子条件，提前规划不踩坑！ |
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