Overview

The Dubai Land Department (DLD) has released an important notice in relation to the ownership of real estate in the Emirate of Dubai that affects companies, individuals, firms and practitioners seeking to register real estate in the name of offshore companies.

The notice provides that from January, only companies formally registered as offshore entities with Jebel Ali Free Zone Authority (JAFZA) will be considered eligible to register their properties with the DLD.

Dubai real estate currently registered with the DLD and held by companies established in other offshore jurisdictions is not affected by the provisions of these guidelines. However, any request made after 1 January by such entities to register additional real estate with the DLD must accord with the requirement for JAFZA registration before it will be considered.

Norton Rose has the details.