As each year goes on, more and more people start to join the investment world. Among those that make regular investments, the real estate market has become one of the most popular choices; and among these markets, Dubai’s real estate market is by far the hottest right now.
Dubai has an interesting real estate market that comes with a good return on investment. Dubai also offers other benefits such as residency visas, no taxes, and more. Because of this, many people want to invest in Dubai’s commercial real estate market and move their business operations there. If you are one of these people and want to invest in Dubai’s commercial properties with crypto, in this article we will tell you how you can do it.
Things to know about buying commercial real estate in Dubai for crypto
- Owning a commercial property in Dubai and moving your business there will give you tax-free operational benefits
- Dubai commercial property has shown a better return on investment than residential real estate in most places around the world
- Compared to residential properties, commercial properties in Dubai are more expensive
- There are many commercial property developers and sellers accepting crypto as a payment method, and those that don’t can still be purchased using real estate agencies
Step by step guide on buying commercial real estate in Dubai with crypto
Investing in Dubai’s fast-growing real estate market is one of the best decisions a person can make right now. Being one of the most popular destinations for wealthy individuals, Dubai’s real estate market is booming, and there are reasons for that. As people who reside in Dubai are exempt from paying any taxes, many investors started to look for commercial real estate to invest in and move their business operations there. Considering how easy it has become to receive a residency visa and business license in Dubai this seems like a no-brainer for many businesses. One of the best and easiest ways to make this purchase is using cryptocurrencies such as Bitcoin and Ethereum, and here we will tell you how you can do it.
Make sure you want to invest in commercial property
Dubai’s commercial real estate market is one of the fastest-growing real estate markets in the world and there is a reason for that. Dubai is known as a tax-free Emirate, meaning that people who reside in Dubai have to pay no taxes to the government. This might be one of the main reasons why you are investing in commercial property here but think twice before making a final decision. While it’s true that commercial properties in Dubai show better returns than residential ones, they are also more expensive. Because of this, make sure you absolutely need this property before investing.
If you are someone who works alone and does not need a massive office space or a place to open a store or similar business, investing in residential properties might be a better option, as they are cheaper, you can work and live in them, and they also bring benefits such as residency visas.
Choose the correct location
After you have made the decision to acquire Dubai residential property, you will then need to make a decision about where to buy. Dubai has many different zones across the Emirate where laws regarding foreigners differ. In most places in the city, owning a commercial property does not require anything special, and you can simply purchase one. But when the time comes to actually open and operate a business from there, that’s when things get complicated. Most of these places don’t allow foreigners to operate their business, meaning that you will need to be partnered with a Dubai native who will own a majority share of the business. But there are also dedicated spaces that just recently started to pop up, where Dubai has given foreigners permission to operate their business without the need of having this native partnership agreement in place. So make sure you know what you are investing in.
Look for a real estate agent
Once you are done with making these important decisions and have a clear idea of what you want it’s time to move to the next step and that’s to look for a real estate agent. Dubai is full of different real estate agencies whose services you can use in order to buy commercial real estate in Dubai with crypto. These agencies will make sure that you are presented with properties that fully fit your needs and will make sure that the purchase will go through smoothly. But you need to make sure that these agencies are accepting cryptocurrencies and you also need to check which cryptocurrencies they accept. Then you simply need to select which property you are buying and follow through with the purchase.
Benefits of buying commercial real estate in Dubai with crypto
First, let’s take a look at the general benefits of owning commercial property in Dubai. Dubai has one of the hottest real estate markets in the world, and commercial real estate is one of the biggest parts of this market. Looking at the numbers, commercial real estate has performed better than residential real estate in the long run, as they are renting out for more, have better supply and demand ratios, and in general, are more attractive investment opportunities.
Dubai is also a tax-free Emirate, meaning that whatever income you have will never be taxed. This is one of the most attractive benefits a country can have, as businesses always try to avoid paying the least amount of tax possible. So if you have the ability to move your business operations to Dubai, you can increase your profits. This can be done easily as Dubai offers residency visas to those that invest a certain amount of money into real estate.
When it comes to buying this real estate with crypto, there are many benefits that come with it. As a foreigner, you will need to make international transactions when buying property, and as most of us know, international banking can be a messy and expensive affair, with many unnecessary and discomforting regulations in place. These transactions can be put on hold for days, for verification purposes, there is the possibility that large amounts of fees will be applied to the transactions, and in general, you might have a hard time making a purchase. But when making these transactions with cryptocurrencies, you will avoid most of these problems. Crypto transactions carry some anonymity to them, meaning that these transactions will not be visible to any third parties, they will go through in a matter of seconds or minutes, and depending on the crypto you are paying with, you will most likely pay really low fees.
Final thoughts on buying commercial property in Dubai with crypto
When buying a commercial property in Dubai with crypto there are a few steps you need to take, and if you don’t have any experience in this you might think it is a hard process, but on the other hand it is one of the easiest purchases you can make. Dubai has made it easy to purchase real estate as a foreigner and they even reward you with residency visas and other useful benefits. What makes this process especially simple are real estate agencies that specialize in this field. With the help of a good real estate agent, you can complete a purchase really quickly and in some cases, you can do it without setting foot in Dubai at all. So if you are thinking of making a crypto commercial real estate investment in Dubai, it might be the best decision you can make.
Frequently asked questions about buying commercial real estate in Dubai with crypto
Absolutely. There are many different developers in Dubai that accept cryptocurrencies as a means of payment and even if the seller does not accept crypto, there are many different real estate agencies that will help you to still acquire these properties with cryptocurrencies. The most widely accepted cryptos are Bitcoin, Ethereum, and stablecoins.
Buying a commercial property in Dubai with crypto is a good decision to make. Paying with cryptocurrencies will help you avoid a messy traditional banking system. Crypto transactions are fast, cheap, and carry a level of anonymity with them. All of these are good benefits, considering how troublesome large international transactions can become when done through traditional banks if you are not one of their top clients.