In a previous blog, we discussed how individuals can own property in the Emirate of Dubai. As with individual ownership of properties, company ownership of property is restricted to certain areas, based on the nationalities of the shareholders. This is Dubai Land Department’s (DLD) current policy on company ownership.

Definition of terms:

Onshore company – Incorporated in “mainland” Dubai through the Department of Economic Development, or in the UAE (excluding free zones).

Offshore company 

Either:

1. A company incorporated within a free zone in Dubai (of which there are currently over 20); or

2. A company incorporated outside of Dubai (either in a foreign country or a free zone in another emirate)

Onshore Company Ownership

As with UAE and other GCC nationals, onshore companies that are 100% UAE/GCC-owned may purchase property anywhere in Dubai. However, Dubai onshore companies that have non-GCC shareholders may only own property in Designated Areas (unless it is a Public Joint Stock Company).

Offshore Company Ownership

A company incorporated within a Dubai free zone (except Dubai International Financial Centre) may own property in any Designated Area. A foreign country-incorporated company cannot own property in Dubai, even in a Designated Area. Neither can a company that has been incorporated in a free zone in another emirate, such as a Ras Al Khaimah (RAK) Free Trade Zone company. However, such companies that owned properties in Designated Areas, previous to DLD’s policy change, are allowed to continue ownership of existing properties.

If a foreign (country or another emirate’s free zone) registered company wishes to purchase a property within a Designated Area in Dubai, the shareholders must incorporate an entity within the Jebel Ali Free Zone (JAFZA) or Dubai Multi Commodities Centre Free Zone (DMCC). The JAFZA or DMCC company will be the Buyer in the contract for the purchase of the property. When title is transferred, the Title Deed will be issued in the name of the JAFZA or DMCC company.

Note: DLD’s policy is subject to change. If your company is interested in purchasing a property in its name, do your due diligence and confirm the latest policy with DLD, before beginning the property search.