Sharjah allows full ownership of real estate by all nationalities
A new real estate registration law authorized by Sheikh Sultan bin Mohamed Al Qasimi, Ruler of Sharjah. This authorization is well framed, and now grants real estate property rights to all nationalities. This opens up the market to foreign investors.
The law stipulates that only citizens of the United Arab Emirates (UAE) and nationals of one of the member countries of the Cooperation Council for the Arab States of the Gulf (CCASG) are eligible for home ownership. The right to home ownership for expatriates is subject to the following conditions:
- To have obtained the agreement of the ruler of Sharjah.
- Inheritance transfer by legal notification.
- Benefit from an assignment by the owner to one of his first-degree relatives, in accordance with the law.
- Ownership in real estate development zones and projects, in accordance with Council regulations.
This will enable all nationalities to own real estate of all kinds and uses including residential, commercial and industrial properties. They are allowed to rent or lease their properties, and to sell them at any time.
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