Understanding the Electronic Signature Lawfulness for Real Estate in UAE

How to eSign a document: electronic signature lawfulness for Real Estate in UAE

what's up guys welcome back to the channel so today again we're gonna do something a little bit different I showed you one of my apartments in downtown Dubai so today I'm going to show you one of my Apartments here in JVC now JVC is more of a residential area so the prices are actually cheaper than they are downtown but the rent it generates is still really good so I wanted to show you around this place talk about how much it cost how much it Nets me profit and all of the good stuff about buying property here in Dubai so if you want to learn more Smash Up the Subscribe button and all of the links to anything that I talk about in this video are going to be down there in the description if you need any help I'm there to help you and let's jump straight into it foreign [Music] come on all right what's up guys what's up welcome back to the channel so in the last video that we did I showed you a place downtown which was a lot smaller than this they're both one bedrooms because we're a little bit out of the Dubai main city a lot more room out here for actually quite a lot less so we're going to discuss the prices in a second but let me just show you around the place so right now a lovely camera system is standing in the kitchen so we have a whole kitchen here I'm not really sure what the names of everything would be but here's like a little Bay breakfast and stuff got a coffee machine washing machine fridge everything that you need again this is another short-term rental so we put this on for monthly rentals and uh you get a lot more money here for a monthly rental or through short-term rentals than you would if you rented it for the year so I went to buy most people for long-term rents they rent for an entire year they pay over between four or two or even one check for that whole year and uh that way you get the price down a lot but if you are just visiting if you're a business trip or something you want to get a short term that's places before and the return on investment is a hell of a lot higher when you do short term here in Dubai so we've got a lounge right here a little dining area nice couch TV and if we come over here and put a desk if you want to do some work you know if you're on a business trip not a problem this area is called JVC so my Skyline is actually on the other side of the tower this is JVC that's the five Hotel uh one easy over there at the Circle and yeah there's a lot of construction happening here but in my opinion it's one of the nicest areas because it actually has I think 10 to 12 parts for families and things like that so it's actually really nice it's a lot more quiet than downtown and uh yeah you've got quite a decent View foreign [Music] bathroom over here a standard bathroom and then we have the mainly Master room [Music] and we have the master room here so we've got a little Chill Spot if you want it TV double bed all your storage nice little wallpaper on the wall rug and yeah basically everything you need if you come back in there and let's talk about the prices so in the last video we spoke about the price of my downtown unit being around 220 000 US Dollars which to some people in the comment section seemed like a lot and to other people it seemed like very little to me because I'm from London it seemed like very little because you're basically within walking distance of the Burj Khalifa and all of that sort of tourist stuff that you want to do here in Dubai for a price like that for a one bedroom in a major city is a pretty much unheard of right now if you check the prices for Japan London New York California La in fact like those sorts of places the prices are going to be way more than that and that's why I find it particularly exciting investing here in Dubai because I think that the prices still have a long way to go and actually the property you can check it out here that I invested in it was about six months ago in downtown Dubai and it's already up around 35 which is an incredible return especially because I actually use cryptocurrency to buy it and uh since I bought it cryptocurrency has since crashed about 50 60 so I've actually recouped a lot of those losses by diversifying portfolio now one of the interesting things about Dubai is you can actually buy property cars watches different things in life with crypto so if that's something you want to do drop me an email down there I'll leave my email address so you guys can ask me about that if you have any questions about setting up a company or getting yourself a Visa here I'll also answer those questions down there there's a link to Rosemont Partners they help me actually set up my company and the key to Dubai and investing in Dubai and having an income in Dubai and making money and that sort of stuff is it's completely tax-free and I know that sounds a bit crazy depending on where you are but 100 income tax zero tax and uh capital gains tax there is no tax like that here in Dubai there will be a nine percent corporation tax coming into Play Down the Line next year but there's also a minimal amount of money you need to make and that sort of stuff so it's still very inviting to bring your business to device so any sort of help that you need all the links are down there in the description now when we talk about this property itself the purchase price was a hundred and eighty thousand US dollars I bought it around a year ago and an interesting thing about this one unlike my last one which I bought in cash I actually bought this one with a property payment plan so something you can do here in Dubai is you can buy property on a plan so you put something like 25 down and then you pay the rest over a certain amount of years so for example this unit I put down 25 and I have a five-year payment plan so split up the rest of that payment of 180 000 minus the 25 over five years and because I'm actually renting this out short term the short-term renters pay the majority of that payment plan off so it's kind of crazy uh I'll probably end up paying about 35 to 40 of the price of this unit over that five years and then I get it 100 paid off at the end of that payment plan so it's kind of a crazy option there are still some of these options here in Dubai there's a lot less now more and more people are coming to invest in Dubai but there are definitely still options I know of a few that are happening right now so talking about how much this unit actually cost so the price of the unit itself was around 180 000 US Dollars and I actually bought this on a payment plan so that means I put around 25 down and this isn't anything to do with the bank it's an agreement directly with the developer so I put around 25 down for the unit and then I agree to pay off the rest of the unit over around five years now when I rent out this unit all of the profit that I generate I use directly to pay off the unit plus I have to pay a little bit extra each month to cover that but this means that I'm going to have a completely paid off unit at the end of the payment plan and by then I can use it as leverage to actually get more money from the bank in order to buy more property so what's really special about this opportunity here in Dubai is that it gives you the opportunity to buy property without actually having too high of a salary or a long history of employment here in Dubai you can also if you do want to use the banks if you're an expat and you're not currently living in Dubai you can actually get a 50 mortgage for any properties here depending on your income back home so again if you want help with that there's going to be links down there in the description so when it comes to the actual numbers of this unit per month I rent this out for between five thousand and seven thousand five hundred Dirhams per month which equals to around fifteen hundred dollars per month on average throughout the year now from there what I have to do is I have to pay the management company so they charge between 10 and 20 of your gross income then you have to pay for D1 which is around 150 per month for a unit like this and then you also have to pay for the cooling of course here in Dubai it's super hot so you have to pay for cooling throughout the year and that's also between 100 and 150 so on average this unit generates me around a thousand dollars in net profit and like we spoke about earlier I use that entire amount of money to pay off the payment plan in order for this unit to be 100 cash owned in the next few years and the beauty of that profit is again here in Dubai it's totally tax-free so I could take that profit and I can put it straight into this property paying it off without ever having to pay any capital gains tax or income tax foreign