Well, if you’re not much of a reader, then these bite size information-rich videos should do the trick! We highlight tips for tenants, landlords, buyers and sellers. We’ve also filmed residents in the UAE like you and me, who had legal questions they wanted an answer to. Legal consultant, Ahmed Odeh, gives some useful advice that’s worth listening in on!
Sid wants to know why people buy property under offshore companies.
“I’ve lived here for a really long time. Finally, I’m looking at investing
in a property here in Dubai. What are the benefits of investing through an offshore account?”
“Before moving forward, in terms of offshore companies,
I do have to mention that the Dubai Land Department
has recently issued guidelines stating that only Jebel Ali offshore companies
are allowed to own property in Dubai. Having said that, there are two
major reasons as to why people may own offshore companies.
Number one, to maintain a certain degree of privacy.
That means that if you have a title deed of an offshore company,
your individual name does not need to be on that title deed.
Number two, and most importantly, people use offshore companies
as a means of exempting themselves from Sharia inheritence.
For further information regarding Sharia inheritence,
please seek the advice of an inheritence consultant.”
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