Recently, there has been a notable and growing trend among Jordanians – investing in UAE real estate. This article explores why taking a house in the UAE is a good choice for Jordan nationals. We’ll also shed light on the compelling advantages and opportunities beckoning in this vibrant nation.
We will also explore the convenience of the UAE visa for Jordanian tourists, further enhancing this flourishing destination’s appeal. So, if you’re a Jordanian looking to make a savvy investment or simply seeking an exciting place to explore, read on to discover why the UAE should be at the top of your list.
Real Estate Market: Reason for Taking a House in UAE
Here are exciting reasons why Jordanian citizens should consider taking a house in Dubai.
Booming Real Estate Sector in the UAE
The UAE’s booming real estate sector is enough to consider investing in property. This sector development may be attributed to the following;
In addition, the presence of other development projects is a significant influencing factor.
Ongoing Development Projects
Dubai always has something new to show the world. This is why you should invest in Dubai rather than in a city where nothing is happening in development.
With so much happening in this city every time, it becomes a center of attraction for many. When these people visit, they need a place to spend, which can be your premise. Why not?
Also, due to many developments coming up, you may find new public amenities opening near your premises. If this happens, your property value increases automatically.
Stable Property Market
The UAE has earned a reputation for maintaining a secure and resilient real estate sector, making it an attractive destination for property investors.
The region’s economic strength, consistent demand due to population growth, and regulatory framework protecting investors and owners enhance their property market stability.
Affordability in the UAE compared to Jordan
As an investor, it’s always good to consider the cost of investments against the returns. Let’s compare property prices in the UAE and Jordan to highlight the better option:
The UAE is famous for its luxury real estate and properties at various price points. In many cases, some of these properties can be more affordable than equivalent options in Jordan.
Potential for Better Returns on Investment
The UAE has experienced significant growth in its real estate market, with properties appreciating over time. This means that property investments in the UAE have the potential for better returns than in Jordan.
Quality of Life
Relocating to the UAE from Jordan means a total lifestyle change. You will enjoy;
High Standard of Living
The UAE promises a high standard of living characterized by world-class amenities, excellent healthcare, top-tier education, and a safe environment.
Also, it has expansive leisure and entertainment options and a dynamic multicultural society.
World-class Healthcare and Education
The UAE offers world-class healthcare and education systems. Its healthcare facilities feature cutting-edge technology and highly skilled medical professionals for quality medical services.
Similarly, the education sector boasts prestigious international schools, British and American systems, and universities. These schools provide students with global qualifications and opportunities for academic excellence.
Safety and Security
The UAE maintains a low crime rate, strict law enforcement, and a solid commitment to ensuring the well-being of residents and visitors. This safe environment fosters a sense of security and is a significant factor contributing to the UAE’s appeal as a living and investment destination.
Cultural Diversity and Vibrant Lifestyle
Another aspect you’ll probably love is the UAE’s cultural diversity and vibrant lifestyle. The nation is a global melting pot, welcoming people from different backgrounds, cultures, and nationalities.
This rich tapestry of cultures and traditions creates a dynamic and harmonious society where people from all walks of life coexist harmoniously.
The multicultural landscape is evident daily, from culinary experiences that span the globe to festivals and celebrations that honor various cultures. Hence offering a unique opportunity for cultural exchange and enrichment.
Additionally, its vibrant lifestyle is evident in its world-class entertainment options. These include towering skyscrapers, luxurious shopping destinations, pristine beaches, and thrilling desert adventures.
The harmonious combination of cultural diversity and dynamic lifestyle makes the UAE extraordinary and appealing.
Entertainment and Leisure Options
The UAE offers abundant entertainment and leisure options that cater to a wide range of interests. There’s no shortage of outdoor enjoyment, from thrilling theme parks like Ferrari World and IMG Worlds of Adventure to pristine beaches along the coastline.
If you prefer cultural experiences, museums, art galleries, and historical sites offer enriching insights into the region’s heritage.
Additionally, it hosts many events, festivals, and concerts throughout the year, ensuring there’s always something exciting happening. Whether you’re into adventure sports, cultural exploration, shopping, or simply relaxing by the beach, the UAE has diverse entertainment and leisure options.
World-renowned Universities and Schools
The UAE has world-renowned universities and schools offering high-quality education across various disciplines.
Notable institutions like the American University of Sharjah, New York University Abu Dhabi, and the University of Dubai attract students worldwide. Also, the country hosts prestigious international schools such as the British School of Dubai and the American School of Dubai, providing learners with global qualifications and a multicultural learning environment.
These institutions offer diverse programs, ensuring students receive top-tier education and prepare for successful futures.
Cutting-edge Medical Technology
The UAE is among the best in medical technology, with cutting-edge healthcare facilities and state-of-the-art medical equipment.
Top hospitals like Cleveland Clinic Abu Dhabi and Sheikh Khalifa Medical City employee the latest advancements in medical science, offering patients access to world-class diagnostics, treatments, and surgeries.
This commitment to medical technology guarantees you high healthcare standards.
In the UAE, seizing the opportunity to take a house is further sweetened by the remarkable tax benefits. Residents and investors retain more of their hard-earned money with no income tax on earnings.
Let’s explore available tax benefits you enjoy.
Tax Advantages For Expatriates
The United Arab Emirates (UAE) is renowned for offering attractive tax benefits to expatriates. Here, you will enjoy the following;
No Personal Income Tax
This means that Jordanians can typically enjoy their entire income without deductions for income tax. This advantage significantly impacts your overall financial situation, allowing you to save and invest more effectively from your investments.
Low Corporate Tax Rates
This tax category only aims at businesses and related business activities. It applies to residents and non-resident businesses with over $270 thousand in gross income.
However, Dubai’s 9% corporate tax is lower than most countries, making it the best place to invest for Jordan citizens.
These tax benefits for foreigners, together with its life quality, world-class infrastructure, and thriving economy, make it attractive to foreigners.
Wealth Preservation and Asset Protection
Many people prioritize wealth preservation and asset protection. The UAE offers compelling solutions through tax-efficient investment options and estate planning benefits:
Tax-Efficient Investment Options
The UAE provides a range of tax-efficient investment avenues, allowing you to grow and safeguard your wealth. These options include tax-free zones for businesses, tax-advantaged savings, investment accounts, and the absence of capital gains tax. These tax benefits enhance wealth accumulation potential.
Estate Planning Benefits
The UAE also offers a favorable estate planning environment, including a no inheritance tax and wide asset protection legal mechanisms, like trusts and foundations. This enables individuals to structure their estates efficiently, ensuring seamless transfer of assets to heirs while protecting against potential challenges.
Let’s now explore the residency options available for Jordanians.
Investment and Residency
The UAE offers special visas to Jordanians who invest in real estate.
This opportunity promotes financial growth through property investments and offers a chance to enjoy the UAE’s high quality of life and diverse opportunities.
As an investor, you are eligible for;
Investment Visa Options
Jordanians who invest in the UAE can enjoy Government Golden visa opportunities. These include;
Real Estate Investment Visas
The investment should be limited to a single residential property, excluding commercial properties. This visa option applies exclusively to freehold residential properties and does not apply to off-plan properties.
The visa validity duration ranges from three to five years and can be renewed if the investor maintains property ownership in the country.
Long-term Residency Permits
This visa category allows qualifying investors to enjoy a five or 10-year residency, depending on their investment size. In addition to the investor, their children, spouse, advisor, and manager are also eligible.
To qualify for the 10-year residency permit, you must have an AED 10 million investment. To be eligible for the 5-year visa, you must invest in AED 5 million gross value property. Also, you can allow if you have an existing project with AED 500,000 minimum capital eligible for additional jurisdiction.
Lastly, Jordanians must meet the General Directorate of Residency and Dubai Foreign Affairs additional standards to qualify.
Path to Permanent Residency and Citizenship
Jordanian investors in the UAE can apply for permanent residency and enjoy numerous benefits. But you must meet their eligibility criteria.
Benefits of Securing Residency in the UAE
Securing residency in the United Arab Emirates (UAE) offers a multitude of benefits:
These benefits collectively make securing residency in the UAE, an attractive option for financial prosperity, career growth, and an enhanced quality of life.
Eligibility and Application Process
Dubai offers a long-term visa system known as the UAE Golden Visa, allowing specific categories of investors, entrepreneurs, and skilled professionals to obtain extended residency there.
Jordanians can qualify for a 2 to 10-year residence visa in Dubai. You only need to buy real estate in a freehold zone where foreigners can get full ownership.
After purchasing your property, you can now apply for your visa. Alternatively, you can also start the process before buying a house.
Visit the GDRFA Dubai and follow the prompts to apply. Here are general steps to follow and their time frames.
- Preliminary Due Diligence (1 day): A certified Compliance Anti Money Laundering Officer reviews the investor’s documents to assess potential risks. This step is confidential and reduces the rejection risk to 1%.
- Preparation of Documents (5 to 7 weeks): Immigrant Invest lawyers compile a list of required documents, including originals, and arrange for translation, notarization, and consular legalization of documents.
- Property Purchase (5 to 6 weeks): You can select and purchase a property remotely. The Immigrant Invest Real Estate Department assists in property selection, examination, and registration, obtaining an ownership certificate for the residence visa application.
- Medical Examination in the UAE (1 to 5 days): Investor and family members over 18 undergo medical examinations for dangerous infections at an accredited clinic, resulting in a health certificate for the visa application.
- Submitting Biometrics and Applying for Visa (1 day): Investor and family members submit biometric data at a typing center in the UAE and apply for a visa to the relevant authority. Immigrant Invest lawyers will guide you throughout this process.
- Due Diligence (5 to 30 days): Applicants undergo a security check to prove they pose no threat to national security and public order. This process typically takes 5 to 7 days but may extend to 30 days if additional documentation is requested.
- Getting a Residence Visa (1 day): Once the application is approved, applicants receive Emirates IDs, and residence visas are issued and pasted into their passports.
After the process, you are ready to travel to Dubai. But before taking the big risk, please consider visiting as a tourist first.
UAE eVisa for Jordanian Tourists
Before buying a house in Dubai, you should visit as a tourist to get the correct information before taking a considerable risk. Unlike the permanent residency visa application process, a tourist visa is easy, convenient, and fast with UAE eVisa.
To apply, complete the visa application form correctly, pay your preferred package, and receive your approval letter in your email within two to six days. Once you receive your confirmation email, you are ready for travel.
How the eVisa Facilitates Property Exploration
You’ve already made up your mind to buy a house in Dubai. That’s the best decision for your financial growth as you enjoy the vibrant city. But, before making the purchase, it would help to first go there as a visitor.
This way, you can explore different properties and what they offer and meet other real estate agents. You can also compare their packages to settle on the best deal.
In addition, prior visits help you to understand the market dynamics better. You can also do property inspections and viewing to assess their condition, sustainability, and location, among others, before making decisions.
Prior visiting is also an opportunity to network as you attend seminars, exhibitions, and property-related events in the UAE. This way, you get to network with potential partners and industry experts.
Familiarize yourself with local property laws and regulations as you seek legal advice to ensure you comply with all the requirements.
Get a better understanding of the property market as you prepare to invest. You can start the required financial and legal process with your choice and better experience.
Another aspect to consider before purchasing is the real estate legal regulations.
Legal Considerations and Regulations
A house purchase in the UAE can be an appealing choice for Jordanians for various reasons, like economic opportunities, lifestyle, and the strong real estate market. However, it’s crucial to consider the legal aspects and regulations.
Here are some fundamental legal considerations and regulations:
Understanding Property Laws and Regulations in the UAE
Property laws in UAE include:
- Foreign Ownership: UAE has laws allowing foreigners to own property in designated areas (often called freehold or leasehold areas). It’s essential to understand the specific rules governing property ownership by non-UAE nationals. In some cases, right is restricted to specific nationalities.
- Types of Properties: The UAE offers various properties, like apartments, villas, and commercial properties. Understand the property types’ distinctions and regulations.
- Property Financing: Jordanians considering property in the UAE may also need to explore financing options. Understanding the terms and conditions of mortgages, if applicable, is crucial.
- Real Estate Agents: When working with agents and brokers, look for licensed professionals knowledgeable about local property laws. Verify their credentials and conduct due diligence.
Legal Assistance and Due Diligence
Jordanian citizens are advised to seek legal and due diligence assistance.
- Legal Assistance involves engaging a local attorney or legal consultant specializing in UAE real estate laws. To offer help through the legal aspects of property acquisition, like contract reviews, due diligence, and regulation compliance.
- Due Diligence: This involves verifying the property’s legal status, ownership history, outstanding debts or liens, and compliance with local regulations. A legal professional can assist with this process to ensure the property is free from legal complications.
However, although owning property in the UAE can be lucrative and attractive for Jordanians, you must navigate the property laws and legal landscape carefully.
Taking a house in the UAE presents a promising opportunity for Jordanians interested in real estate investment. This is due to the numerous economic opportunities, Dubai’s promising real estate market, and high quality of life compared to Jordan.
Additionally, investing in Dubai helps you to expand your investment internationally. Also, you can qualify for the country’s permanent residence and reap its strategic location, among other benefits.
Lastly, while there are regulations to consider, the UAE has established clear legal frameworks for property ownership by non-UAE nationals. You must only seek proper legal and financial guidance to navigate the regulations effectively.