Property Holding Companies

The passing of the Freehold Property Ownership Law relating to non-UAE Nationals in Dubai and other Emirates has led to a continued boom in the real estate market and buyers from overseas accounts for a large proportion of property transactions.

Many potential buyers and those already owning property in the UAE are unaware of the possible implications of owning property in their personal names as the Islamic Sharia laws regarding the inheritance of personal effects are very different to those in common law countries and in many civil law countries too. For example, a property owned jointly by a husband and wife would not necessarily pass automatically to the wife in the event of her spouse's death.

It is possible, with the correct advice, to protect non-muslims against inheritance issues through the use of an offshore company and most lawyers in Dubai would recommend this course of action.

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