Dreaming of moving to Abu Dhabi? The city’s mega shopping centres, its multicultural environment, and its stunning modern towers that span the skyline are three special features that lure expats to this city, including British people.
Abu Dhabi is also a hub for tourism and business, seen in locations such as Masdar City and the Abu Dhabi Global Market. It’s the perfect place for property investors, too, with many foreign investors on the lookout for the stable, secure, lucrative opportunities this location brings.
The city is not only a hub for high-net-worth individuals, it is family friendly and ideal for digital nomads, as it even offers a digital nomad remote work visa to those expats who meet certain criteria and are seeking a modern location to work and call home.
Evaluate financing options and lender rates with our Finance Passport.
Find out why this UAE capital is such an appealing choice for those buying a home abroad:
Golden Visa: If you’ve got your eye on a property valued at AED 2 million (approximately £400,000) and you purchase it, you can qualify for the Golden Visa Abu Dhabi offers, which comes with long-term residency.
Tax-Free Income: As an investor or professional earning a salary, you will not need to pay tax on your income when you live in Abu Dhabi. This is a factor that attracts expats to the Emirates’ capital.
Diversified Economy: Seeking stability in an economy? Abu Dhabi’s economy is supported by a range of sectors, including tourism, healthcare, and finance. It attracts property investors as its diversification strategies contribute to growth.
Once you’ve determined your budget and set up a UAE bank account, prepare the financing by searching and getting pre-approved for a mortgage. And since the real estate market in Abu Dhabi may be a bit difficult to understand for newcomers, select a reputable estate agent to arrange property viewings.
Next, submit an offer and provide proof that you can fund the purchase by showing the seller a mortgage agreement before you pay a 10% deposit (10% of the purchase price).
All that’s left is to sign a Memorandum of Understanding, receive a No Objection Certificate, and sign a sales and purchase agreement to finalise the purchase.
It’s best to start by comparing lenders located in Abu Dhabi before commencing the search. The Upscore Finance Passport is a great way to find a range of lenders, so you’ll find multiple lenders that align with your requirements.
You can then start your search through Upscore and with the support of a reliable estate agent in Abu Dhabi to navigate the market successfully before moving from the UK.
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