Monday, September 12 , 2022
PUBLICIDAD
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The UAE is a very tax-friendly country, and this provides high returns on real estate investment, as there are no tax laws that tax returns, meaning that investors are exempt from taxation on accumulated income.
In this sense, investors have a wide range of properties within their reach, more specifically in the city of Dubai, where they can invest with the highest standards of security and transparency, thanks to the latest regulations carried out by the Ministry of Economy, which promote sound financial practices in the sector, in line with international standards.
The new regulations in the real estate market ensure its development and growth, leaving little or no room for manipulation or illegal practices that could negatively impact the sector and thus the UAE’s economy.
In addition to these regulations, new visa reforms are expected to attract significant investment in the real estate sector through the 10-year Golden Visa residency programme. This has generated strong interest among foreign investors to buy property in Dubai and is estimated to reach US$100 billion of investment by 2025.
The Golden Visa has significant advantages, as it is a self-managed visa with no limitations on entering and leaving the country, which makes it very attractive to investors. In fact, it has already been issued to more than 65,000 people from different sectors, including healthcare and technology.
The key to this country’s great success over the last 50 years is largely due to its ambition and long-term vision, which has allowed it to focus and keep its inhabitants focused on a common goal of constant development, entrepreneurship and the achievement of a strong and stable economy. This is confirmed by its macroeconomic data: 10 million inhabitants and a GDP of around 400,000 million euros.
According to Borja Gervás, CEO of the consulting firm Access UAE, “the Emirati economy offers great opportunities for investment, because the government has created a great ecosystem in relation to the economy based on legal regulations and taxes favourable to its development, in which the real estate sector stands out. Spanish investors have been aware of all these improvements and opportunities, highlighting bilateral and investment exchanges. All of this is reflected in the more than 150 Spanish companies that are now permanently established in the UAE”.
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