Expats Buy Tax Residency With UAE Property

Expats looking to invest in property in the Middle East can enjoy the current boom – and also boost their chances of getting a residency permit.

Increasing numbers of expats are buying to improve their chances of landing the prized permit and now one in five properties purchased are bought by Brits.

Property experts say that expats bought property worth more than £1.7 billion last year in Dubai and Abu Dhabi, the United Arab Emirates (UAE) main cities.

They point out that those buying are making a sound investment since prices are rising but also standing a good chance of getting a residency permit too.

Mark Stott, of Select Property, said: “It’s a good time for investing in Dubai and buyers carefully choosing the area they want to buy in should be see prices grow and fetch good rents for rental properties.”

Luxury property in Qatar

He added that rents in Dubai have increased by more than 13% in the past year.

However, expats looking at investing in property to rent out in Dubai should be aware that new rules coming into force next year will see all of Abu Dhabi’s public sector workers having to move there rather making the two-hour round trip from Dubai. This will inevitably have an effect on rented properties there.

Dubai is also enjoying strong growth in its residential property prices but anyone wanting a residency permit for the Gulf region should head to Qatar where buying property automatically brings with it a permit.

That’s one reason why the government is heavily promoting its luxury property market to entice wealthy foreigners to move in.

Property experts say expats shouldn’t rush in to buy just to get hold of a residency permit – they should take into account important things to consider such as ensuring the area is established with a