After buying in Dubai: bank account, Emirates ID and next steps

The purchase is signed: several practical steps still need to be organised so the property runs smoothly.

A local bank account

Opening an account in the UAE makes it easier to pay charges and bills and to collect rent. Conditions vary by bank: some offer accounts for non-residents, others require an Emirates ID. Prepare the usual documents: passport, proof of address, proof of income and title deed.

Emirates ID and residency

The Emirates ID is issued to residents. It is required for many local procedures. A non-resident owner does not automatically hold one: obtaining it requires a residency visa, which can be opened through investment under certain conditions.

Utilities for the property

For an occupied or rented property, water and electricity need to be connected, along with, depending on the district, central air conditioning, internet and gas. The registered tenancy contract is often required.

Insurance

Home insurance covers the building or its contents, depending on the case. A mortgage also requires life and disability insurance. Check the scope of coverage carefully.

Managing a property remotely

• Entrust letting, rent collection and maintenance to a local manager.
• Keep a copy of all documents: title deed, contract, plans, warranties.
• Track service charge invoices and owners' association meetings.
• Budget for maintenance and equipment renewal.

Declaring income in your country of residence

A property abroad and its income must be declared under the rules of your country of residence. Keeping proof of rent, charges and purchase makes declarations easier, as well as a future resale.

Staying in touch

An ongoing relationship with someone on the ground allows you to react quickly if a problem arises and to optimise management over time.

To review your project and check the conditions currently in force, book an appointment with Arzouni Properties.