Ummal Quwain: Foreign Freehold Real Estate Ownership Decision Issued

Ummal Quwain: Foreign Freehold Real Estate Ownership Decision Issued News developments

Ummal Quwain: Foreign Freehold Real Estate Ownership Decision Issued

Ummal Quwain’s Ruler has issued Ummal Quwain Decision No. 4/2021 on foreign freehold real estate ownership in the Emirate.

Under the Decision, foreigners, limited liability companies partially owned by foreigners, free zone companies and offshore companies will be able to own freehold real estate ownership.

Any legislation which contradicts or contravenes it will be repealed.

It also states specific freehold ownership zones will be determined under a Decision from the Ruler and taking real estate development, freehold real estate ownership for foreigners or any other relevant considerations into account.

It will be published in the Official Gazette and come into force on its issued date.

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Marlé Van Sandwyk