Great info. I’m thinking I’d do this only if I plan to live in Dubai indefinitely. I personally wouldn’t do all that just for a 6 month lease. I’d just stay at an Airbnb. Excellent information and very well done video
@@kevinp8027Actually thats a good point. Thanks for pointing that out. And if you rent/ buy a property and stay at least 3 months a year , you can claim UAE tax residence
@@kevinp8027Actually they have something new and I believe Tuomas speaks about it in another video. UAE is your tax residence if you are in the country after 6 months in a year however if you rent or own a property, the requirement is minimum 3 months
Great video. I wonder if you have considered buying a property yet and even getting a golden visa, instead of renting ? I mean with buying you are at least building equity in the property asset instead of having nothing at the end of your rental term. Obviously in the summer months when you aren't in Dubai a bought property just sits empty which isn't a big deal.
@@tuomaskiv Smart move. Even if prices come down in the next year or so you can just hold the property and live in it, all the while building your asset portfolio.
So when you use the clause in your lease contract to move out during summer in Dubai, will you be able to move back into it when you come back in 6 months? Or do you then have to find yet another apartment because it has now been rented out to other people?
Monthly rent meaning you're not signing a leasing contract so no you'd not go through all this, but the rent will be way more expensive, almost doubled
Brother can you make a review about pallapay in business bay whether they are legit or not. Or may be give a review of any other over the counter crypto to cash companies that are in your Knowledge.
wow this seems like a hassle. I am curious @tuomaskiv what would be the case you go for a rented property like the one you described in your video vs doing a long term airbnb or blueground lets say every 12 months or so? I am assuming you started off on short term rentals, what made you pick these long term ones?
The only 2 cases for long term rentals imo: 1) You aim to live in the place for 12 months+. The advantage is that landlords can only increase rents a certain amunt per year for existing tenants. 2) You cannot find a good option on Airbnb/BG. Especially if you are on a budget, short term rentals often don't have as many cheap options I switched to long-term because I mistakenly thought it would end up cheaper, but in my case it was not actually (I ran the numbers on a separate video)
🏠 Invest in Real Estate in Dubai - www.genzoneconsulting.com/meetings/schedule-session/tre
Thanks for the great work and the full breakdown! Looking forward to the next videos!
Thank you Tuomas for all information👍🏻👍🏻
Thanks Tuomas for the very comprehensive breakdown of utility payments.
Great content
Thank you for breaking down the whole process 🙏🏻
Very useful! Thanks Tuomas
Blueground is a gamechanger imo. Im sad I didn't know about them earlier
Great info. I’m thinking I’d do this only if I plan to live in Dubai indefinitely. I personally wouldn’t do all that just for a 6 month lease. I’d just stay at an Airbnb. Excellent information and very well done video
Yeah makes sense
It' not that easy, especially for tax purposes. You need to show to have a stable home
@@kevinp8027Actually thats a good point. Thanks for pointing that out. And if you rent/ buy a property and stay at least 3 months a year , you can claim UAE tax residence
@@Ashley-nk3we Tax residency it’s 6 months per year
@@kevinp8027Actually they have something new and I believe Tuomas speaks about it in another video. UAE is your tax residence if you are in the country after 6 months in a year however if you rent or own a property, the requirement is minimum 3 months
Thanks for the information
Thanks Tuomas!
"... refundable deposits, so I will get them back!" Brother, I wish I had your confidence! 😂
They are legally protected, millions of people rent here, what makes you think the deposits won't be returned?
Yeah, they are "legally" protected. So, will have to fight to get it
Again, what makes you think you have to fight to get them?
Thanks for this video! How long did the process take from when you decided you wanted that apartment to the day you moved in?
It took about 4 hours from when I contacted the agent to when I signed the contract 😂
Would love a buying property video in Dubai and tips to do this :)
That is coming soon, currently scripting it!
Thanks, can u make contents on banking in Dubai?
how come you dont just use Blueground or
airbnb ?
Why do you have to have a lokal bank account? You could use Wise/Revolut or other online Bank accounts, right?
Probably depends on the landlord but generally you need to be able to write cheques (yes, physical cheques) and for that you need a local account.
Great video. I wonder if you have considered buying a property yet and even getting a golden visa, instead of renting ? I mean with buying you are at least building equity in the property asset instead of having nothing at the end of your rental term. Obviously in the summer months when you aren't in Dubai a bought property just sits empty which isn't a big deal.
yes I will buy in the next few years
@@tuomaskiv Smart move. Even if prices come down in the next year or so you can just hold the property and live in it, all the while building your asset portfolio.
Yes that's the plan
Quick question. For the 10 year visa can you buy a palm property or its only a property in a freezone ?
any property
So when you use the clause in your lease contract to move out during summer in Dubai, will you be able to move back into it when you come back in 6 months? Or do you then have to find yet another apartment because it has now been rented out to other people?
You will have to find a new one. Presumably the landlord will rent it out to someone else, they won't just keep it empty for you.
Do you still have to go through these steps if you're paying monthly rent and not a yearly down payment?
Monthly rent meaning you're not signing a leasing contract so no you'd not go through all this, but the rent will be way more expensive, almost doubled
bro can you make a video about banking in dubai 😇.
Already did - ruclips.net/video/idePMAqGivM/видео.html&ab_channel=Tuomas
@@tuomaskiv oo thanks
Hey Tuomas,
How much cheaper will the total be after paying it in 2 checks and not every month for a year?
That is always case-by-case, depends on the landlord.
@@tuomaskiv Can I ask how much cheaper you got it? Don't have to say the amount just percentage-wise.
Brother can you make a review about pallapay in business bay whether they are legit or not. Or may be give a review of any other over the counter crypto to cash companies that are in your Knowledge.
too much trouble 😰
Do you lease it for one year?
yes but with a break clause, I explain in the video
You need a Car if you choose JVC
Seems better to just rent month to month
not a bad idea
Leaving the west for Dubai >>>
What a freaking insane Islamic nightmare.
No one's asking you to move, if you can't afford or think this is expensive it's high time you look into yourself how far are you
The price tag and the laws is to filter out people like you so that's the whole point
wow this seems like a hassle.
I am curious @tuomaskiv what would be the case you go for a rented property like the one you described in your video vs doing a long term airbnb or blueground lets say every 12 months or so?
I am assuming you started off on short term rentals, what made you pick these long term ones?
The only 2 cases for long term rentals imo:
1) You aim to live in the place for 12 months+. The advantage is that landlords can only increase rents a certain amunt per year for existing tenants.
2) You cannot find a good option on Airbnb/BG. Especially if you are on a budget, short term rentals often don't have as many cheap options
I switched to long-term because I mistakenly thought it would end up cheaper, but in my case it was not actually (I ran the numbers on a separate video)
Agent fee seems quite high?
5% is the standard, idk how that compares to other countries