Globaleye.com

Most buyers/existing owners do NOT realise/understand the potential tax exposure, huge transfer fee issues and complications with Sharia Law when buying Dubai property. You could be unnecessarily exposing yourself to huge problems unless you follow these simple steps ...

Establish an offshore company before you buy anything. Do not reserve a property in your name since the subsequent move to a company name later on will constitute a name change and thereby incurr a fee between 1-8% (transfer fee) depending on your developer. Transfer fees have shot up recently too since they are now based on the selling price of the development. Your developer may impose restrictions on resell which your offshore company can overcome.

If structured correctly, this same company can mitigate your tax exposure in your home country. For example, UK residents are liable for CGT and if you were BORN in the UK (or have lived there for 17+ years) you are also stung for Inheritance Tax @ 40%!

Islamic legal system does not necessarily recognise a Will so your property will NOT pass directly to your Spouse/Widow entirely on death. An offshore company will overcome this issue if structured correctly.

There is more info above and our Offshore Company application can be downloaded from the site.