Dear Sir or Madam
I’m doing a research study about the real estate market in Dubai. One section focuses on the legal part of buying and renting property in Dubai. I am confused since I found different laws like the Strata Law, the Tanweer, Tayseer and Tania and I am not sure which of these is up-to-date.
Could you give me some advice where I can find information about the following questions:
– I read that there will be implemented a new law this year. What is it called and what are the main facts and consequences for foreign property investors?
– Is it true that a foreigner can only buy a property if he founds a company?
– Is it true that an investor can make recourse if the real estate project is delayed?
– An article said that when one buys a property for more than 1 million Dirham one gets a 3 years visa. In another article I read that a property buyer gets only a visa which has to be renewed every six months. Which of these statements is right?
– Is it right that foreign property investors are allowed to buy freehold real estate but only in certain areas? Which areas are that?
Thank you very much for your advice.