Real estate taxes When buying real estate in Dubai, only the registration fee at the Land Department is paid in the amount of 2% of the value of the real estate, as well as the costs of preparing documents for the transaction. The registration fee must be paid by the seller and the buyer in equal parts, however, in most cases, it is paid by the buyer. In Dubai, as in other emirates, there is no tax on income, including from the rental of real estate. This applies to both individuals and legal entities purchasing real estate in Dubai. There is also no difference in taxation between residents and non-residents of the UAE . It is worth noting that companies registered in offshore zones cannot acquire real estate in the emirates. There is also no tax on income from the sale or rent of real estate in Dubai. In addition, there is no inheritance and gift tax on real estate, however, when re-registering a home to a new owner, you will need to pay registration fees. Property maintenance The maintenance of property in Dubai depends on the area and area of the property. Housing is paid for by the operating company annually. The maintenance costs of the property include payment for the maintenance of common areas (swimming pool, parking, tennis courts), security, garbage disposal. On average, payment is 10-20 dirhams ($ 2.7-5.4) per sq. ft (0.09 sq. m). Utility bills are calculated separately according to the meter data, their size depends on the consumption of electricity and water, as well as on the area of housing. Utility costs vary depending on the area of the emirate. In Dubai, real estate for rent is usually rented through a management company that has an appropriate license. The services of such a company must be paid annually and their cost, as a rule, is about 5% of the annual lease. The City Water and Electricity Utilization and Connection Fee is charged by the Dubai Municipality and is included in the electricity and water bills issued by the Dubai Electricity & Water Authority (DEWA). The fee is 5% of the rental contract for the property, the payment is divided into equal shares and the amount comes in monthly invoices. The fee is paid by the person to whom the DEWA account is held. In the case of a long-term lease, invoices are issued to the tenant, if the property is rented out for short-term lease, the fee is paid by the owner of the property. We would like to thank IMEX Real Estate for their help in preparing this article. HomesOverseas.ru
Property taxes in Dubai
Dubai is considered a tax haven for property buyers, there are no taxes for buying property, transfer property and to receive income from the rental.
10.05.2012
Author: Maria Cooper
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