Yes you can transfer property to first degree relatives parents children or spouse through a process called gifting. The advantage of gifting is that the Dubai Land Department transfer fee is significantly reduced from the standard 4 percent to just…
Yes you can transfer property to first degree relatives parents children or spouse through a process called gifting. The advantage of gifting is that the Dubai Land Department transfer fee is significantly reduced from the standard 4 percent to just 0.125 percent of the property value plus administrative fees. This is an excellent estate planning tool that allows you to transfer wealth to your family members cost effectively without triggering a full market sales transaction.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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