Today, Dubai means something special for everyone. Some see it as an object for investment, expatriates as a permanent place of residence, vacationers as a great place for a long-awaited vacation, investing for the purpose of subsequent rental of finished real estate and a profitable return on investment.
The Russians invest in Dubai real estate not only for profit, but also for living during the holidays and vacations, as they prefer to own a second home in the Emirates, where they are attracted by factors such as life safety, an efficient business environment, the availability of high-class real estate, excellent weather conditions, modern shopping and a number of other reasons.
Refined luxury combined with practicality and accurate calculation - this is what real estate in Dubai is.
Dubai's huge real estate market offers investors and buyers a wide variety of projects. Particular attention is paid to the construction of luxury residential real estate with a well-thought-out infrastructure and advanced technical equipment, including smart home technologies. Projects are created in different parts of Dubai according to the principle of club districts, united by a common architectural concept, which allows customers to make their choice in accordance with preferences regarding a particular lifestyle.
At present, residential properties on the famous man-made island of The Palm Jumeirah are being commissioned and evaluated positively by property owners.
Due to the fact that the United Arab Emirates is a Muslim country, all courts consider the inheritance of expatriates of Muslim religion under Sharia law. The legal adviser to Kashwani Law Firm, Barbara Smolin, discloses the legal aspects of property inheritance in this country.
Drawing up a will for property and its registration
A will is a legal document expressing a person’s desire for how his or her condition, including cash and real estate, should be distributed after his or her death. The main purpose of the will is to appoint heirs and indicate the property transferred by inheritance.
But, despite the fact that the UAE courts accept civil cases related to marriages, divorces and other problems of Muslims, they also consider these issues and accept wills from expatriates of any nationality and religion, including Christians, Hindus, Buddhists and Sikhs living in the country and with a UAE resident visa.
Testament of real estate
Expatriates with a valid UAE resident visa can make a will and register it with a local court. In order for a will to be recognized here as genuine and legal, it must be drawn up in accordance with the laws of the country of which the testator is a citizen, and certified and legalized at the embassy or consulate of that country.
If the will is legalized by the embassy or consulate of the country whose citizen is the person who made the will and is duly certified by a Dubai court, then all his wishes regarding the distribution of money and property after his death will be fulfilled.
However, according to Art. 17 (5) of the UAE Federal Law No. 2 of 1987, "the law of the United Arab Emirates should apply to wills drawn up by foreigners regarding their property located in the UAE." Thus, a will drawn up in the UAE should indicate property located in the UAE.
As you know, foreigners in the UAE were allowed to buy property in certain areas of Dubai, and happy property owners are already thinking about its fate.
Expatriates who own real estate in Dubai must make a will, translate it into Arabic and notarize it at the embassy or consulate of their country in the UAE, and then register with the Dubai Court and the Dubai Land Department. Thus, you can only bequeath a finished property for which a "Certificate of registration of real estate" in the Dubai Land Department has been issued, since if the certificate is not received, the will will not be registered in the Land Department.
If a person dies without leaving a will, then according to Art. 17/1 of the UAE Civil Code, Federal Law No. 2, "inheritance will occur according to the laws of the country of the deceased, which is valid at the time of death." This law was enacted so that there would be no confusion regarding the question of inheritance for expatriates. If the deceased, who did not leave a will, was a Muslim, the laws of Sharia will be applied to his money and property, which means that from his property all debts to the further distribution of property will be paid first.
In order to be sure that the testament of real estate and other property located in the UAE has been drawn up correctly, we advise the owners of movable and real estate to contact the Dacha Real Estate agency, which is supported by Kashwani Law Firm, where lawyers who speak both Arabic and Russian, which will help to draw up and certify all the necessary documents. When it comes time to think about investments that secure your future and the future of your children, make the right choice!
- Numerous real estate offers from reliable developers;
- Legal and notarial consultation, transaction support;
- Buying and selling real estate;
- Drawing up contracts and creating a portfolio of investments with guaranteed annual income.
Dacha Real Estate offers you residential and commercial options. The company sells real estate both from developers and in the secondary market. The cost of residential real estate per sq. meter in Dubai varies depending on the project and the area
- The unique Jumeirah Beach Residence (JBR) project is the perfect embodiment of modern life. It offers a wide selection of apartments from one bedroom apartments to the penthouse. Own beach. Cost per 1 m² from 4,000 dollars Area - from 60 to 150 m² Construction completed.
- The Palm Jumeirah Island is one of the wonders of the world! The most fashionable and famous project, where your neighbors will be Hollywood stars and world celebrities! This project began in 2001. By 2009, it is planned to complete the construction of a large Middle East investment project of the eccentric American billionaire Donald Trump on the island. Estimated price - from $ 3 million. The villas are ready, but additional investments are needed in the decor and interior design.
- The Al Kaheel project (Al Kahil) offers a rare opportunity for Dubai to purchase a home in a natural environment. The villas are designed in a style combining antiquity and modernity of the XXI century. Symbiosis of the Arabian heritage and the present. Completion of construction - 2009. Estimated price - from 1.4 to 3.6 million dollars
- Attention! Profitable investment! The Palm Jebel Ali Island is one and a half times larger than its predecessor in Jumeirah and has even greater amenities. Elite water houses, villas and a monorail are located on the new island. The highlight of the project will be "Sea Village" - the center with the only marine aquarium in the region, where killer whales and various deep-sea inhabitants of warm seas will live. The completion of this project is scheduled for 2010. Cost for 1 meter² US $ 3190 Estimated cost - from $ 1,500,000
- Jumeirah Islands is a project in which a variety of styles, designs and layouts of villas can just make you dizzy. Fifty peninsulas accommodate 16 villas each. A variety of architectural styles: "Oasis", "European", "Modern", "Islamic", "Mediterranean", "Tropical". Estimated price - from $ 6.5 million
- JW Marriott is an exclusive, luxurious, individually styled accommodation for VIPs. Completion of construction - 2009. Location - Dubailand, Lifestyle City. The villas are equipped with the latest technology, fully furnished, hotel service is provided. Estimated price - 11 507 000 dollars
Our staff will provide complete information about the real estate market and select the best option for you, based on your budget. Commercial license issued by the Department of Economic Development No. 560462. Registration certificate issued by the Land Department No. 393
