Non UAE residents and foreign companies will be subject to the recently introduced 9% corporate tax on any income derived from property. These entities will also need to be registered for audit purposed.

UAE residents and designated UAE free zone companies are exempt from all property tax.

If a tenant wishes to terminate their tenancy before the expiry date, they can do so as per the early termination clause stated in the agreement. Official termination confirmation must be sent and acknowledged by the landlord while a notice period and early termination penalty is commonly applicable, as per the terms stated in the contract addendum. The tenant has the right to renew or vacate at the end of each tenancy contract, providing 90 days written notice is issued to the landlord.

The Oqood document is confirmation of an off-plan purchase. Once the property sale is registered with the governing body, the buyer receives an Oqood confirming the acquisition and unit details, this is later changed for a Title Deed or Pre Title deed once the project construction is complete.

An off-plan property refers to a property whose construction is yet to begin or is in the preliminary stages of construction.

DLD is the abbreviation for Dubai Land Department, which is the government’s regulatory body that deals with all property and real estate related legislation, organisation, and services.

Freehold means the buyer will have complete ownership of the property and his/ her name on the title deed. Leasehold refers to having the property on lease for a period of more than 10 years and up to 99 years. It cannot be bought completely.

A security deposit of 5% on unfurnished properties and 10% on furnished properties is required. In addition to that, you will be required to pay a DEWA deposit of AED 2000 for an apartment and AED 4000 for a villa.