Legal requirements for purchasing property in The Oasis by Emaar

The legal formalities and mandates necessary for purchasing The Oasis by Emaar are comparatively less complex than most other top-tier cities worldwide. 

Nevertheless, seeking the guidance and assistance of a professional legal consultant or reliable real estate agency offering legal compliance and RERA services in Dubai is recommended. It will save you time and the hassles that might occur due to your limited know-how regarding the legal aspects of real estate dealing in this emirate city. 

We are a reputable real estate agency offering holistic real estate guidance and solutions for years now. Besides providing real estate brokerage services, our comprehensive service list includes handling legal requirements for property purchase and sale in Dubai. 

Our team pens down this blog to help you get an overall glimpse of the legal aspects involved in simple terms. We will try to keep it easy to understand and follow. 

• Emaar Oasis is being built in a freehold zone, so purchasing a property here gives you the right to own it for a lifetime. 
• A valid Passport is essential to start the purchasing process. Showing a visa might not always be a requirement. 
• For buying an Off-plan property, always ensure that the real estate developer is registered with the Dubai Land Department. 
• You need to pay a 4% Transfer Fee to the DLD (Dubai Land Department) in addition to the Registration Fees. This 4% DLD Fee is like the ‘stamp duty’ in foreign nations. 
• Then comes paying the Trustee Office Fees, which is a fixed amount. In Dubai, it is AED 4,000 plus 5% VAT for properties that are priced for AED 500,000 or above. It is AED 2,000 plus 5% VAT for properties priced below AED 500,000. Remember, the Trustee Office in Dubai is where the actual transaction between the buyer and the seller is carried out legally. 
• It is mandatory to have a Sales and Purchase Agreement. It is highly recommended that you have a professional lawyer (with specialization in real estate is a plus point) to read and review the terms. It will give you peace of mind, knowing no hassles to ever arise ahead. 
• You need to pay the Title Deeds Fees for officially owning the property, which is around AED 500-600. It adds your name to the Ownership papers of the property. So, you become officially or legally the owner of the property. 
• In case of mortgages, you need to produce a bank statement and Proof of Income. Non-residents (expatriates and also not residing anywhere in Dubai) are entitled to borrow 50% LTV of the property. 
• This is just a bird’s eye view of the entire legal mandates to rightfully and righteously own a property anywhere in Dubai. Seek expert guidance for regret-free decisions and plan of action.