Most of the developers and the banks promise very appealing financing offers, up to 90% of the property value for individuals from every nationality.

However, having a residency visa definitely makes the financing process less complicated, easier to get, and cheaper, as residents pay lower interest rates.

Since, they can only obtain a residency visa after the completion of their property, a lot of Europeans can’t get financing at the time of purchase.

Moreover, if you are self employed, and hence you don’t have a fixed monthly income, financing becomes even more difficult to be approved. Indeed, in the UAE, valuing your company and its revenues is a very complex process. In fact, the language is a barrier, as your financial statements are surely written in the language where your company is based.

In addition, the interest rates of 7.2% up to 8.5% are much higher then the ones you pay in any part of Europe. Also, the processing time for the approval of any financing for non UAE residents is quite long, and the amount approved is not as high as promised and surely doesn’t reach 90%. Hence, we recommend that at the time of buying, you possess at least 50% of the property value.

Starting from June 2007, the only properties that will be financed for non UAE residents will be the properties by Nakheel, Emaar, and Dubai Properties.

To finance a property in the UAE you need to present your passport copy, your residence copy, your salary certificate if you are employed, your income statements if your are self employed, your bank statements for the last 6 months, the receipt of the deposit you made on the property, a declaration if you have any other loans, a bank guarantee, etc…..

We can also offer you a very attractive quotation from one of the leading Swiss private banks in the region.