Dubai Studio City
Dubai Studio City is the most creative and innovative hub for media and entertainment in Dubai. Our place is situated in the center of the city and provides top-notch facilities for creative staff, media persons and production company. Dubai Studio City is the place where future actors, musicians, animators would be discovered. We are about to build the next face of media in Dubai Studio City, join us.
Buying A Home In Dubai – Some Tips And Laws That You Should Know
As Dubai is an entirely self-contained area, local residents have no legal requirements to obtain a license to reside or work in the city. This creates an influx of skilled workers from across the globe who have the legal right to reside and work in this pristine environment. Residents have full access to all public services, including education, healthcare, employment, health, and social welfare services, without any problems. There are no restrictions on travel within the city limits, and foreigners are also free to visit any part of the city they choose. This makes Dubai a sought-after location for individuals looking for permanent residences and businesses looking for potential franchisees.
Despite its popularity, it is still necessary for foreigners to adhere to some laws when they purchase property in the city. The law is almost identical to that governing everyday real estate transactions in the United States. Property developers must apply the law consistently to each new project they develop and present to buyers. Developers must also perform title searches on all new properties they present to the public. All property should be registered in the name of the person who owns it and not in the name of an entity. If you are considering purchasing Dubai real estate, you must familiarize yourself with these laws.
Despite its popularity, it is still necessary for foreigners to adhere to some laws when they purchase property in the city. The law is almost identical to that governing everyday real estate transactions in the United States. Property developers must apply the law consistently to each new project they develop and present to buyers. Developers must also perform title searches on all new properties they present to the public. All property should be registered in the name of the person who owns it and not in the name of an entity. If you are considering purchasing Dubai real estate, you must familiarize yourself with these laws.
Another concern that most buyers have is the existence of “Door Money”, a term used to describe a payment made directly from the property developer to the seller. The door money is used to pay a service tax and other fees and penalties related to the development of the property. Unfortunately, a lot of the time, door money is used to pay the Dubai Airway tax. It is a widely practised practice that can lead to substantial legal fees for the developer, which results in a loss for the buyer and a lower price on the property.
There is one specific law that is applied in Dubai Studio City that has the potential to affect your purchase of a home. This law, known as the “Abu Dhabi Property Law”, prohibits the transfer of an apartment or a hotel to a person or an entity outside the emirate. This law was implemented in response to constructing many residential buildings in the United Arab Emirates with foreign investors. This can be risky if you plan to buy property in Dubai for investment purposes, but it is important to note that this law only affects new construction and not existing properties.
The Abu Dhabi property law is another essential factor buyers should consider before purchasing property in Dubai. Although this law does not directly apply to the sale of apartments and hotels, it can significantly affect your purchase of a unit in one of these buildings. The law states that the ownership is solely held by the Abu Dhabi Company, which the country’s crown prince controls. As such, if the developer sells a unit to an individual not a resident of the emirate, the purchaser will not receive the full rights to the property.