Increase in notary fees in Sharjah
In 2022, the government of Sharjah has decided to allow full ownership to foreigners. While this news was very well received by the market and investors, it now comes with a "little" bad news! The authorities have decided to increase the percentage of notary fees for properties bought in freehold by foreign investors. Explanations.
What does freehold in Sharjah mean?
The freehold property is the full and complete ownership of the building and the land. Exactly like in France or in most European countries. This is in contrast to leasehold, where you generally own the property for 40 years, 50 years or even 99 years. But all that is over in Sharjah! It is now possible to invest in apartments or villas in full ownership in the Emirates of Sharjah, neighboring that of Dubai.
Increase in notary fees in Sharjah
The authorities have decided to change the amount of notary fees in Sharjah. This concerns freehold properties, bought by people whose nationality is outside the GCC, the Gulf countries. If you are French, you will now have to pay 4% notary fees for the purchase of a property in Sharjah, against 2% previously. In Dubai, it is also 4%, while it is still 2% in Abu Dhabi. For how long?
Guillaume Giroux, Dubai Immo founder and real estate expert, Dubai, UAE
As founder of the Dubai Immo Group and a real estate investor, I bring you daily updates on the Dubai market. My aim is to provide you with all the keys you need to invest wisely and securely, by sharing my in-depth analysis and strategic advice.
