Digital Signature Legality for Client Information for Real Estate in UAE

How to eSign a document: digital signature legality for Client Information for Real Estate in UAE

it's a wealthy expat here with Ahmed from bitter State he is one of our real estate managers here and helping you buy real estate in Dubai which deals should you take advantage of where should you buy and what type of properties we're going to discuss many things many questions that you wealthy expats have the main one being choosing the right property here we have clients that have bought more than 10 million dollars in properties from you and with you so you definitely have a lot of insight into the market just give a quick introduction and then tell people how the process of choosing property here in Dubai is what things they should be looking at happy to be here if I oh thank you so much for having me on your channel choosing a property in Dubai can be a very exciting journey to be on definitely choosing the the right property for you depends on what you are looking for so we have a vast diversity of properties all the way from commercial to residential Investment Properties or properties that you want to actually live in obviously it all depends on what you're looking for and what kind of property suits your needs and then we can help you out so when it comes to the question that everybody is asking should we buy Off plan or should we buy ready the answer really depends on why you're buying the property obviously right now in Dubai with the market we're in right now value for money definitely goes to buying offland properties but if you're looking for a house that you immediately have to move in we can definitely find it the best deal in Dubai to do that our services there's not only exclusive to buying primary sales so not only through developers but we are connected to many many people that want to resell the property in Dubai and all the hot areas so if you want to buy a house in Dubai Marina or by a villa in Dubai land we are connected to a lot of landlords that are actually looking for buyers to buy their property and we can definitely get you the best deal on the market and then when it comes to mortgaging property there's a lot of clients that don't want to put the money down right away they want to get a mortgage how is the non-resident mortgage opportunities how are the financing opportunities as well as for residents because I know for residents you need to show proof here in the UAE with UAE Banks as a non-resident you can get financing easier with outside Banks can you tell us a bit about the process and the options well the beautiful thing about Dubai is before getting into the mortgage sector is that since Dubai's real estate market is a very competitive market that really comes into the benefit of the investor because when you buy a property from a from a developer in Dubai and to attract you to buy the property from them they will give you an interest-free payment plan so that can can go all the way from one year to year all the way up to like four to five years depending on the developer and the kind of property you're buying now some people I mean even five four or five years is a bit of a time a tight timeline for them so what we help them with is to get a non-resident mortgage so non-resident mortgages in Dubai you can get the only thing is you'll be capped at 60 so you'll have to pay 40 of the net property value up front and then we can help you get financing for 60 of the remaining value of the property the process is very simple takes a maximum of a week to get the approval if if you are eligible you really all they ask is a passport copy and a six-month bank statement if you're self-employed so there's going to be a personal bank statement if it's still six months a corporate bank statement for six months with a license that shows your name on it and if you're employed just a seller certificate and a statement that shows or proves that your salary is being deposited got it and if somebody wants to buy property in the name of their company for example we had a client who wanted to protect his assets against any lawsuits anything like that you can buy property under a free zone company Mainland company any type of company right in Dubai they make it very easy to buy a property you can actually own a property under a company the only thing is that this company has to be a Dubai registered company now the the beautiful thing about it is setting up a license in Dubai or a corporate license in Dubai is a very very hassle-free process it's also not very expensive to do some people what they do is they have multiple investors and they all want to invest together so they open a holding company and then they would have like a portfolio of properties and other things next to that but we're helping with the property side but that definitely does not put your name in the public and it protects you as a person from any sort of let's say legal liabilities and for example let's say one of our clients who wants to buy property here and somebody's gonna sue him or his ex-wife want some money from him can you look up is there a registry where you can look up who owns what and what properties are under whose name because that's something that for example in Europe or in other places around the world people always worry about can somebody look me up and know what I have in case of a court case or so on and Dubai as we speak the only public register for a company is the IFC and definitely the IFC is not a company that we're much involved in at the moment we're involved in other free zones and other Mainland setups but in Dubai unless you're actually in contact with the person that owns the company or is managing the company to enter into any sort of contractual agreement it is prohibited and is restricted to be able to know who managed the company who owns the company and who are the shareholders of the company so basically speaking not only are your properties private your entire information and the formation of the company and what kind of let's say shares you own or anything that you have to do with the company is completely private to you good to know because that's something that obviously the investors always worry about when it comes to what areas around Dubai right here we have a nice view of Mr beachfront we also have a nice view of the palm and everywhere what areas should people be be buying because there's a lot of ads on Instagram on Google on YouTube that show you oh buy from this particular developer or Buy in the middle of the desert what are the areas that have the best rental returns and also overall what are the best areas for people to live in if they're gonna buy property when it comes to the different areas I mean there are multiple areas right now in Dubai as a developing city that is quite hot to invest and buy properties in again this this takes us back to why you're buying the property so if your investment mentality is that you want to run like properties on a short term like Airbnb booking.com then definitely something that is like an area that is a risky area where tourists are going to be looking to to like stay in is definitely the best area for you so we're talking about Dubai Marina we're talking about downtown Dubai up and coming right now is business day because you know properties in downtown are getting inflated a lot so now Business Bay is the next downtown coming up and for people that are looking for a little bit of a vision in the future I mean Dubai Creek Harbor is absolutely doing incredible right now when it comes to other areas so if you're buying a property that you want to you know see a capital gain on people are really valuing privacy so so definitely I would go to an area that has like nice townhouses or Villas so anywhere from the Mac Hills the Mac lagoons which is the upper comic project Dubai hills estate by armor Arabian ranches three these are like absolute killer projects that people are seeing capital appreciation within only like three to six months from buying the property these areas are definitely a project that you should consider if that's what you're looking for perfect perfect day if you want more privacy then definitely the hills are slightly away from the city you can always get here in 20 15 minutes but you have those townhouses those giant Villas and also you need to to wait a while if you buy let's say directly from the developer you need to wait about four years for them to be done or so two things that are great about offline properties in Dubai aside from the fact that you will definitely see capital appreciation is that building in Dubai is quite fast I mean by the dtcm The Authority that manages tourism in Dubai there's a new map of Dubai every six months so at the third of the world's cranes as we speak are in Dubai so that that gives you an idea of how building in Dubai is taken seriously and real estate has been thinking seriously so contrary to other places around the world when you you buy an offline property you can be buying an offline property that you're going to see capital gain on but it's also going to be ready in only like two years or three years so I mean right now on the market the project that is going to be delayed the most in terms of construction is 2026 so that's only like four years from now the longer you wait the more the profits you're going to make when you when you realize the property when it's completed it really depends on you on when when you actually want to see that property being completed basically perfect because for example I'm looking to buy a lot of property here in Dubai and the let's say medium to long term and there's some projects here that are specifically Off plan they're going to be built in 2024 2025 and they sell out in 30 minutes one hour it's insane there's a very great project that I love from meras the people that build the Blue Waters Island and they have a new project called Central Park that thing sold out in 25 30 minutes if you're a good developer in Dubai you have a good name and people trust your property they trust your quality and they adjust your builds and these are definitely the kind of projects that we are advising people to be a part of it's a no-brainer right now this Market is a number brainer I'm in Dubai right now has an influx of millionaires that are buying multiple properties even full buildings and this is just creating waves of people that are realizing the opportunity even more and that definitely goes into the benefit of the real estate investor because the more uh the the people are aware of a particular city or a particular location the more the influx of people that want to invest in that area becomes and in turn the more the demand the more the the capital appreciation that you as an investor is going to make let's say I'm an investor I have five million dollars I want to invest it with you I got the areas I want to buy want to buy half off plan have already built or some resale what is the process of buying what are the fees because there's no property tax there's no transfer tax nothing like that but you still need to pay four percent to the land government what is the process and what are the fees included in that process if we're going to divide it into two different types of actions so if we're going to start with the Off plan offline is basically straightforward I mean the added value that we give you with buying an offline property which is direct from the developer is we always look for your best benefits so if you were to walk into a developer office on your own the developer is probably going to tell you to buy what they're trying to sell but what we help you with is basically finding you the best property that might not even be publicly available within the listings that they have so that's the first thing the second thing is we help you with the contracts reading the contracts explaining to you anything in the contract that you might want to inquire about we help you with reminders on the installments we help you with the Handover of the property and in the future if you want to resell it or you want to rent it out we can also help you with that which are definitely services that the developer directly are not going to offer you okay we go to the developer office we decide what kind of project we want we identify the unit or the subject unit that you want to purchase as an investor we pay a booking fee usually the booking fees in Dubai for properties range between twenty thousand dollars to five percent of the property value and usually here in Dubai developers who are going to give you anywhere between 14 days to 30 days to basically put down the down payment and sign the documents once the payment is allocated to your property and the developer does this developer self-registration which is registering the property in your name from the developer side the contracts are executed and then they're going to be career to the actual address that you have put in the contract of sale payment is four to twenty percent how much yeah so it depends on the project so some projects are uh ten plus four percent so ten percent down payment plus four percent registration up to like 24 some projects that are like near ready like are going to be ready in like three to six months usually some developers like the Mac are going to ask you for a 54 upfront payment so again it really depends on what kind of property and how long is the weight on it but again these are the things that we help you with because even if you know they're they're pitching you at 54 given that you are our client and we're looking for out for your best interest we always negotiate these terms and try to make them in your best benefit to the maximum of our capability when it comes to the fees it's four percent registration from the developer there's no agency fees involved so it's we're giving you this service free of charge a lot of people ask us I mean do you add margins no we do not add any margins on the property the property price is what is communicated by the developer and we do not charge our clients or our investors any percentages when it comes to a consultation fees basically it's only the four percent when it comes to a developer sale on resales since we're representing you and we are directly dealing with the landlord or the owner that wants to resell the property so our agency fee is compensated by the buyer so that's a two percent agency fee plus obviously there's the four percent again registration fee by the development department there's going to be a 580 Dirham title deed fee if it's already property and it's going to be 1040 if it's off plan property so it's fee if you're buying a property that is less than 500 000 Dirhams then the trusty office fee is going to be 2 100 Dirhams that's going to be paid to the trustee the office that is executing the transaction and if it's going to be above 500 000 Dirhams then the trustee office fee is going to be 4 200 trumps perfect thank you for explaining that and then when it comes to clients that are not ready to buy right now or let's say they want to buy a property that's going to be ready in the long term renting versus living and you also mentioned that there's some places that are investments but they're made for rental schemes so essentially you can't really live there you just invest sort of like in the Caribbean where you get citizenship by investing but you're not really investing into something you're more giving a guy money for a hotel there are similar projects to that here when it comes to rental I mean again rentals in Dubai run in different ways I mean there's a short-term rental which is the Airbnb booking.com hotels.com this way of renting out and what's the percentage that you can make as an investor from so so I mean actual figures that we're looking at at the moment I mean we're managing properties in Marina and downtown and Business Bay we're looking at at least 10 to 12 per year net to the owner on the net property value that invested that around the world that beats anything that that really beats anything that's short term yes a long term is usually properties that let's say are not as touristy or do not have a touristy nature to them so you're looking at places like maybe like the Mac Hills or a JVC jbt so you're looking at maybe Apartments but the majority of the properties in these areas are Villas or townhouses so you can do long-term rental there where somebody would just pay you post data checks and that's that's a big Advantage because a lot of people from around the world they might be getting good rental returns but collecting the checks and collecting the payments month on month-to-month basis especially like places in United States or Canada is deeming to be quite a challenging thing to do especially with the price of the rent that are going on at the moment so in Dubai when somebody agrees on a particular price to rent out your property they give you all the checks and all the payment was prior to even getting the key that's insane that's really good and that really benefits you because it really saves you it has a lot of following up to do and the other thing that Raphael was just mentioning right now Dubai becoming such a touristy city as we speak there's two hotels opening in Dubai every month division of Dubai at the moment is to increase the amount of tourists from 19 million to 14 million by the year of 2030. as communicating which is the ruler of Dubai almost a month ago the influx of tourists in Dubai is definitely something that we're all witnessing and being a part of an investment as a hotel investment can even be better investment if you were to choose the right property at the right price than anything else so we have properties that are Hotel Investments and really really Prime locations like downtown Dubai we have the Roven City walk we have SLS and Business Bay we have seven pond on the palms so we definitely have a lot of very very lucrative Hotel Investments on the rental schemes that are very hassle-free you get your money it's run by a very very prominent hotel brand and the major benefit is even though you're making such an amazing Roi they give you the opportunity to stay in at 14 days a year yeah it's sort of like a Portuguese style model Caribbean style model but a lot more tourists a lot more people and also you don't have the risk in the Caribbean at least with the hurricanes and all these things with natural disasters They Don't Really Happen here it's just hot in summer and then when it comes to the golden Visa so let's say I invest six hundred thousand dollars seven hundred thousand two million five million dollars and I want to get my golden Visa because you're eligible if you spend money more than 550 Grand plus a four percent how is the process for the golden Visa I know there's a ton of people applying right now what's the average timeline and let's say is it worth for people to get the golden Visa versus a standard two-year free zone visa and just keep extending it definitely if you can get a golden Visa get a golden Visa I mean it sounds nicer that's to begin with but anyways you know speaking more practically a golden Visa means that you have a residency in Dubai you're almost a citizen of the country because you only have to renew once every 10 years so instead of having to come here every like a couple of years now because they did reduce the normal residency from three years to two years if you get a golden visa for 10 years you're basically set for the next 10 years not to be you know you don't need to go through any government work any renewals anything of that sort so that's the first thing obviously get a lot of priority when it comes to governmental transactions a lot of discounts that you get the buy police right now they have a card called Isaac card which almost gives you discounts on every single outlet in Dubai that they're actually discussing to be able to issue for Golden Visa holders I mean right now as we speak the UAE passport is the number one passport in the world and when it comes to like Global ranking Rafael is not going to be 100 on board but that's ing to multiple resources that's what it is so for me let's say it's not the number one but it's definitely the best pregnancy that you can get anywhere around the world God then the process for that what's the usual timeline so after buying the property you have the title deed you own the property and what kind of property is qualify because I know with Off plan you need to know a guy and that guy needs to know a guy because most people are getting rejected for Off plan golden Visas so the process is quite simple I mean if it's ready property you just get the title deed a passport copy if you are going to be sponsoring your wife on it or your kids then you have to get it first and then to put your wife as a dependent you will need a marriage certificate that is attested by the UAE Consulate in your country and then the Ministry of Foreign Affairs in Dubai same goes for your kids you'll need to get a birth certificate and do a similar process and then uh you we just go to the the balance Department we apply on your behalf you have to be there physically because there's going to be a medical test after the approval of the application to do so that's that's mandatory usually the timeline was anywhere between a week to 14 days but given the influx of people that are actually eligible right now and applying for it we're looking at the maximum of let's say 30 days since the application date now when it comes to offline properties yes there are many cases that are being rejected but there are many cases that actually went through it basically depends as a case-to-case thing and it basically depends on a couple of things obviously who is the developer that's why we when it comes to offline property before the guaranteeing you the let's say the benefits of the golden Visa or eligibility we also want to be dealing with somebody that is or developer that does deliver on time and does deliver properties of good quality but again the other thing is the percentage completion of the construction so from our cases almost all properties that have 80 and above are getting 100 of these are getting accepted and the vast majority of people that are trying are so like a 50 50 chance between 60 to 80 completion anything less than 60 to 50 percent in terms of completion are getting rejected at the moment but again Dubai if you buy an offline property you can reach like a 30 40 Milestone within a year so if you're not going to get it immediately now you're just going to be waiting a year for it and also for example like the Central Park that I want to buy if you miss out on the initial sale you can always wait one year there's going to be people that bought the initial sale now it's built 50 60 percent and they want to sell so yeah you pay a premium but you didn't get it on the initial sale with the rush and now you qualify for the golden Visa as well so again I mean it's when it comes to offline a lot of people ask me is if I don't buy for the developer can I actually buy it as a resale yes you can so that's a good point because maybe you as an investor with investment and an offline property but you want to sell it before the actual property is completed so it's not mandatory for the property to be fully paid and fully complete to be able to sell it some people realize 10 capital gain just on 20 completion of the project so that's that's for them it's The Sweet Spot that they want to exit on so we definitely can help you buy a property that is Off plan even if it's sold or sold out with the developer we can always find somebody who wants to resell the property even before the property is completed thank you so much for your time Ahmed if you want to learn more about Dubai moving to Dubai moving your family here then check out this video right here the ultimate God to moving to Dubai for my years of living here and everybody that I've met I made that amazing guy check it out right now