We are here to ensure guidance through every step of acquiring real estate in UK.
Rising star of the east
Become a homeowner in the UAE
We are here to ensure guidance through every step of acquiring real estate in UAE.
Featured Properties in UAE
Dubai is a vibrant and cosmopolitan city that offers a high standard of living to its residents.
Benefits of Living in
Dubai is a vibrant and cosmopolitan city that offers a high standard of living to its residents. Here are six advantages of living in Dubai:
Thriving Economy
Dubai has a strong and diversified economy with many job opportunities in various sectors such as finance, real estate, tourism, and healthcare.
High Salaries
Salaries in Dubai are generally high compared to other countries in the region, allowing residents to enjoy a comfortable lifestyle.
Tax-Free Environment
Dubai is a tax-free haven, meaning residents do not pay income tax or capital gains tax.
Safe and Secure
Dubai is one of the safest cities in the world, with a low crime rate and a strong focus on security.
Cosmopolitan Lifestyle
Dubai is a melting pot of cultures, with people from all over the world living and working together. This creates a vibrant and cosmopolitan atmosphere.
World-Class Amenities
Dubai offers world-class amenities such as modern infrastructure, excellent healthcare, and high-quality education.
Our Services in UAE
Londonist Investments provides a wide range of specialist services from investment advice to valuation, planning, purchasing, and after-sales in the UAE.
With our portfolio growing day by day, we are working to offer you the most profitable investment. Our expert sales representatives and solicitors follow up with the whole purchasing process from start to finish.
How we help you find your property in the UAE:
- Discuss your needs and requests
- Advice on best available acquisition opportunities
- Assist you in narrowing down the most suitable properties
- Arrange a viewing of the options
- Help in reaching an agreement with the developer
- Guide you through the purchasing process
- After-Sales
- Mortgage
- Solicitor Advice
- Accountant Advice
- Cleaning service
- Student Accommodation (rental options)
Frequently Asked Questions
How can I be sure that I own my property?
There is a very detailed and precise set of transactions that secure the title deed in your name for each property. Your contract is a public/official document transferred to the mortgage office or land registry to be known to every third party, which serves as proof of ownership.
What is objective value?
It is the value set by the tax office based on rates calculated per sq.m. for a specific property each time, depending on its location, year of construction and characteristics. This value almost always differs and is less than the commercial value of the property.
How can I be sure that I own my property?
There is a very detailed and precise set of transactions that secure the title deed in your name for each property. Your contract is a public/official document transferred to the mortgage office or land registry to be known to every third party, which serves as proof of ownership.
Do I have to obtain a tax number?
All property buyers in Greece must have a tax registration number, which can be provided by the tax service completely free of charge and very quickly by showing your ID or passport and completing an application. To buy a home in Greece, you must obtain a non-resident tax registration number (AFM) and the access codes to the “TAXIS” system.
Why do I need to hire a lawyer?
Your lawyer ensures the legality of the property titles held by the seller, checks for any encumbrances, claims, defects in the property, the history of the acquisition of the property, the existence of a legal permit approved by the town planning or the non-existence of a debt to the public or Ί social security (IKA) concerning the property. They advise and guide you throughout the process. They also represent the buyer when he can not attend in person for the transaction. It is strongly recommended to be accompanied by a specialised lawyer when buying a property in Greece.
What is the job of a notary?
The notary secures both the buyer and the seller’s interests and draws up the deed of transfer through which the buyer obtains the title to the property he/she buys. Before signing the notarial deed, the notary makes sure that both the buyer and the seller have fully understood what they will sign so that everything is clear and legal.
Can I have someone else represent me?
Yes, you can appoint a lawyer as your attorney and represent you in any process and practice.
Do I have the right to rent my property as a foreign owner?
Purchasing a property for leasing is considered a good investment in Greece. Especially touristic areas and seaside areas provide an average of 4% to 6% income. However, if rental income is obtained from the immovable property, foreign income tax is incurred. For this reason, annual taxation is applied at rates varying between 15% and 45%, depending on the annual declaration filing and the annual income amount. If the rental period does not exceed 90 days (60 days in the islands) in summer rentals, the rental income is exempted from taxation.
Is it necessary to hire a lawyer to collect the documentation?
It is not legally required, but it is always a good idea to have a professional consultation.
Can I get a loan?
Greek citizens and foreigners can buy a house through a bank loan. The basic package of documents, which foreign citizens must submit to the bank to apply for a mortgage loan, includes the following: passport of their country of origin, photocopy of the foreign passport, income certificate, residence certificate, and, if any, Greek residence permit. Other documents, such as existing certificates of ownership, may be added to this list. All documents must be translated into Greek and certified by a lawyer.
The chances of a foreigner being granted a mortgage loan increase significantly if they receive their official income in euros. Unfortunately, in many cases, Greek banks are reluctant to lend both foreigners and Greek applicants due to the instability that prevails today in the world economy and the sharp fluctuations in exchange rates of national currencies.
What are the expenses of purchasing a property in Greece?
There are some costs to becoming a homeowner in Greece. Acquisition costs, which include taxes and notary fees, rarely exceed 5%. Transfer costs are about 3% and legal fees vary between 1.5% and 5% of the property’s value.
Once I own a property, do I have to pay tax?
Once you become a homeowner, you must pay some related taxes such as property taxes. The Property Tax is assessed according to the price of the property concerned. Thus, the rate is 0.10% for a property over €200,000; 0.15% for a property over €300,000; 0.25% for a property over €400,000, then 0.35% for a property over €500,000 and so on. It is then 1.10% for a property of 2 million euros. Beyond that, the property tax applied is 1.15%. A foreign owner whose country is under a treaty with Greece is not subject to double taxation.
What is the duration of the residence permit?
5 years
Is it possible to renew the residence permit?
Yes, if the related party continues to own the property, they have the right to extend it for another 5 years each time.
What is the benefit for my family when I invest?
The owner’s family members also have an individual residence permit. Therefore, they must apply individually. Their residence permits are renewed and terminated simultaneously with the residence permit of the property owner. Family members discourse includes spouse and all their children under the age of 21.
Who is considered a family member?
According to Greek law, family members of foreign investors entering Greece are:
Their spouses
All their children under the age of 21
Does the holder of a residence permit have the right to work in Greece?
No. However, a residency permit holder can be a shareholder, a member of the board or CEO.
Is it necessary for anyone applying for a residence permit to have previously obtained a visa to enter Greece?
It is necessary only for those who come from a country whose citizens must have an entry visa for entering Greece.
What are the advantages of a residence permit holder in Greece?
Visa-Free Entry to all Schengen counties
The right for the whole family to live in Greece and any Schengen country during the period of visa validity
Access to Greek health and education services
The right to study in any of the Schengen countries
Can a non-EU investor travel to other EU countries with a Greek residency permit obtained as a real estate owner?
Yes. The permanent residency and long-term permit offer the right of total freedom of movement in the EU.
Can the investor buy commercial property, a combination of commercial and residential properties or land and still apply for a Golden Visa?
Greek law requires that €250.000 must be the stated price on the contract without distinguishment between commercial and residential properties.
Does a Greek residency permit give the holder the right to apply for citizenship?
It does not grant direct access to Greek citizenship. However, it allows its holder to become a long-term resident, which is required to obtain citizenship.
