It is now well established in UAE that Dubai Land Department only permits registration of property in name of individuals, companies registered onshore in UAE or offshore within the Jebel Ali Offshore jurisdiction. This clearly affects the foreign corporate purchaser but not individual purchasers. The policy announced on 1st of January 2011 and has been practiced very strictly over the past year.
The Jebel Ali offshore company can however, be owned by a foreign corporate entity provided the ultimate shareholders are individuals and the identity of those individuals is disclosed to the Land Department at the time of registration.
This policy will apply to all applications before Land Department regardless of the date of the sale and purchase agreement pre /post 1st January 2011. However the policy does not affect any registration of title that has taken place prior 1st January 2011.
Fichte & Co Legal Consultancy is now registered agent of JAFZA. For details on how to establish a Jebel Ali Offshore Company please contact Mrs. Bahareh Alizadeh on:
T: +971 4 43 57 577
F: +971 4 43 57 578