Quote:
Originally Posted by sap001
If I buy an apartment in Dubai via an offshore trust, I am no longer the beneficial
owner of that property as it is in effect owned by the trustees. Can anyone tell me how this affects the residency visa for myself and my wife if we decide to live there at some stage in the future? I would be grateful for any information or advice anyone is able to give me.
sap001
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The rules have not come in as yet. Nobody knows the status on the residence visas, whether one would get one if he had a freehold property.
Suggest for the time being invest in your personal names. An off shore account can be established anytime.
Besides, if you have to change from an off shore account to your personal name, the transfer charges might come into the picture.
"Don't trouble trouble, until trouble troubles you ". Suggest you go with your names on the contract.
Regards
Roshan