"Buying a flat in another country can seem risky. What if something happens and I lose everything?"
The UAE government provides enhanced security for everyone, including foreign buyers. Foreigners are protected on the same level as residents and citizens, and the laws governing the property market are strict.
In the Emirates, investors' rights are protected as follows:
- Property developers are vetted by the Land Department, similar to Rosreestr. Without this check, no company enters the market.
- All projects are realised with a bank guarantee confirming that the company has sufficient funds for construction.
- Transactions are concluded through a special escrow account - an account where buyers' money is kept until a certain stage of construction is completed. If the project is not completed, investors are guaranteed a refund.
- Foreign citizens have the right to make property transactions in the freehold zone on a perpetual basis without restrictions, and in the leasehold zone - until the end of the lease agreement with the possibility of its extension.
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