More and more (business)men focus on Dubai to live, invest, do business. These entrepreneurs help you build your dreams in the emirate.
Sandjai Ramautar & Priscilla Ramsoedh, CEO & CFO Dubai-Property.nl
“Dubai-Property.nl was founded with the aim of supporting European investors in successfully entering the Dubai real estate market. We offer full support, from finding the perfect home to handling all legal matters and optimizing investment returns. With a real estate portfolio of approximately 50 properties, we have bundled our knowledge and experience to help even more investors.”
Robert van de Ven, Founding Partner Zero Tax Consultants
“Zero Tax Consultants is the Dutch specialist for the successful DGA and SME entrepreneur in advising, establishing and managing an entity in the United Arab Emirates. It offers a solution where the client is 100 percent shareholder without a visa requirement, a unique solution in this segment of services”
Georgina Zeneldin, Sales & Marketing Director Ray White International Dubai
“Ray White International Dubai specialises in off-plan, secondary market real estate and investment opportunities. Our strong relationships with leading developers and our in-depth understanding of the Dubai real estate market ensure that our clients receive expert advice. As Sales & Marketing Director, I am committed to realising these opportunities and achieving successful outcomes for both investors and developers.”
What unique economic opportunities does Dubai offer?
Priscilla Ramsoedh, Dubai-Property.nl: “Dubai offers a huge amount of economic opportunities, partly due to the stable real estate market. According to the UBS Global Real Estate Bubble Index, Dubai is one of the most stable markets worldwide, with a very low chance of a real estate bubble. This makes Dubai a safe haven for long-term investments. In addition, the Dubai 2040 Urban Master Plan, which foresees the doubling of the population, is an important indicator that the demand for both residential and commercial real estate will only increase. The tax treaty between the UAE and the Netherlands ensures that in most cases you invest completely tax-free. In addition, the value increases and net returns in Dubai are considerably higher than in other world cities, such as London or New York. Real estate investments in Dubai typically yield a net return of 6 to 10 percent, well above the world average. This makes it a unique opportunity for investors looking for long-term growth.”
Robert van de Ven, Zero Tax Consultants: “If we speak from our perspective of service provision, this is of course an unprecedentedly favourable business climate. Where in the Netherlands we quickly have to deal with four to five different types of taxes, together amounting to more than 60 percent, the UAE only has one type of tax: a corporate tax of 9 percent, which only applies from a profit higher than 375.000 AED. You can therefore say that approximately the first € 95.000 profit is completely tax-free.”
Georgina Zeneldin, Ray White International Dubai: “Dubai is a vibrant economic hub offering vast opportunities for growth, innovation and investment, particularly in the real estate sector. As a real estate agency, rather than a developer, Ray White International Dubai offers a unique advantage to our investors. We analyse the entire market and assess multiple projects from different developers to provide the best investment opportunities for our clients. Our commitment is to provide objective, data-driven advice to help our clients make informed decisions. Unlike developers, who are primarily focused on selling their own projects, we offer a neutral and holistic view of the best investment opportunities. With our market knowledge and strong relationships with leading developers, we guide our clients to investments that align with their goals and deliver maximum returns in Dubai’s dynamic real estate market.”
What common misconceptions about doing business in Dubai/UAE do you encounter?
Sandjai Ramautar, Dubai-Property.nl: “A common misconception is that people think you can’t own property in Dubai and that it’s only possible to get leasehold. This used to be the case, but nowadays the majority of properties are ‘freehold’, meaning you get full ownership. Also, some people think you can only buy property together with an Emirati, but this is not true. As a non-resident you can buy property and even qualify for a residency visa, which is a big attraction for international investors.” Priscilla Ramsoedh: “Another misconception is that Dubai is a strictly religious and conservative city. Although Dubai is part of the UAE, an Islamic country, the city is very westernised and offers a cosmopolitan lifestyle. It is a great place for women, families and children, and offers modern amenities comparable to major Western cities. Furthermore, with projects such as one of the world’s largest casinos being built in Ras al-Khaimah (a 45-minute drive from Dubai), we see the UAE increasingly moving with the Western world. This shows that Dubai continues to evolve and is open to global influences.”
Robert van de Ven, Zero Tax Consultants: “A misconception we often encounter is that doing business in Dubai or the UAE is only for large multinationals. On the contrary, we can say! Our solution is interesting for every successful SME with a holding-operating company structure.”
Georgina Zeneldin, Ray White International Dubai: “A common misconception is that doing business in Dubai is complicated due to complex regulations. However, with the right advisory partner, this process becomes much smoother. We know the local market inside and out, understand the nuances of the regulations and have strong connections with both developers and government agencies, enabling our clients to operate effectively.”
What advice would you give to new entrepreneurs looking to set up a business in Dubai?
Priscilla Ramsoedh, Dubai-Property.nl: “The government encourages entrepreneurship by making it easy to set up companies in the many free zones that Dubai has to offer. In these areas, foreign entrepreneurs can retain 100 percent ownership of their company without the need for a local partner, which is a great advantage for people who want to take the step to do business in Dubai.” Sandjai Ramautar: “Our service also includes guiding entrepreneurs who want to set up a company in Dubai. We work together with Dutch-speaking partners who are based in Dubai and are specialized in guiding you through the process of setting up companies, applying for permits and other administrative matters. It is always wise to have a reliable local partner who can help you navigate the business climate. Our advice is that it is not necessary to set up an entity to purchase real estate. This means that you as a private individual can already benefit from the advantages of investing in the real estate market, such as the many tax benefits. Of course, it is also possible to set up a company, and we can help you with that by putting you in touch with our local partners.”
Robert van de Ven, Zero Tax Consultants: “In our case, this question is of course a bit of an open door, but come visit our stand at MASTERS EXPO or make an appointment with us, haha! Seriously: choose a reliable partner who can guide you to the right solution and also support you afterwards. The UAE has many different business structures and establishment options and it is nice if you can get good advice in this. A major advantage that we can offer is that our customers can focus on their daily business because we ensure that no visa is required. Normally, everyone who wants to start a company here will need a visa, which means that you have to visit the country at least twice a year. We always say: the first year it is fun, the second year it becomes an obligation and then a burden. With our unique solution, this is not necessary; that saves time and money.”
Georgina Zeneldin, Ray White International Dubai: “It is crucial to partner with a trusted local firm that has a deep understanding of the market. Ray White International Dubai, with its extensive experience since 2014, helps entrepreneurs navigate the regulatory environment, market dynamics and cultural nuances. Our advice would be to invest in understanding the local landscape, build strong relationships and remain flexible in Dubai’s fast-changing market.”
What trends are currently shaping the Dubai real estate market?
Sandjai Ramautar, Dubai-Property.nl: “A major trend is the shift to emerging areas. Where investors used to opt for established locations such as Marina and Business Bay, we are now seeing a lot of interest in areas such as Jumeirah Village Circle and Dubai South. The arrival of the new Al Maktoum International Airport has made these locations particularly attractive to investors who want to look ahead to future growth.” Priscilla Ramsoedh: “Townhouses and villas are also very popular. Due to the limited availability and the high expected increase in value, these homes are very popular with investors. This trend is reminiscent of the growth we previously saw in successful areas such as Arabian Ranches, Emirates Hills and new communities such as Damac Lagoons.”
Robert van de Ven, Zero Tax Consultants: “I think there are other parties who have much more sensible things to say about this than we do. A cobbler should stick to his last, we say. What we can say is that with the upcoming tax changes in box 3 (actual return), it will become less interesting to buy foreign real estate from a private perspective. You would rather do this from a local company, such as we can set up and facilitate.”
Georgina Zeneldin, Ray White International Dubai: “Dubai’s real estate market is currently being shaped by the rise of sustainable living, smart city technologies and a growing interest in luxury branded residences. At Ray White International Dubai, we are seeing significant growth in the off-plan segment, where developers are offering flexible payment plans and innovative projects that appeal to the city’s forward-thinking population.”
What are the benefits of investing in under construction properties in Dubai?
Priscilla Ramsoedh, Dubai-Property.nl: “Investing in off-plan projects offers several advantages. For example, you can often buy below market price. In addition, developers offer attractive payment plans, where you pay, for example, only 1 percent per month during the construction period.” Sandjai Ramautar: “The increase in value of off-plan projects is also impressive. During construction, the value of the homes can increase by up to 30 percent. We have even seen projects where the increase in value during the construction period was more than 100 percent. This gives investors a lot of flexibility, both for sales and rental.”
Robert van de Ven, Zero Tax Consultants: “A major advantage of investing in homes under construction is that developers can often offer a favorable payment plan. You pay a lower initial investment and gradually repay the property in the following years at a favorable interest rate. Looking at the last few years, the value of the home has already increased during the construction period, which means that it can already have generated a considerable return upon completion. In addition, the UAE does not levy wealth tax or tax on rental income; that is of course a completely different course than the one set in the Netherlands.”
Georgina Zeneldin, Ray White International Dubai: “Investing in off-plan properties offers numerous advantages. These include lower entry prices, flexible payment plans and high capital appreciation. At Ray White International Dubai, we help investors enter this lucrative segment with confidence, ensuring they benefit from our deep understanding of the city’s real estate laws and future development plans.”
How does rental income in Dubai compare to other major cities worldwide?
Sandjai Ramautar, Dubai-Property.nl: “In Dubai you can count on net rental income of 6 to 10 percent per year, which is considerably higher than in cities such as London or Paris. The advantage of Dubai is that these percentages already take into account costs such as service charges and property management.” Priscilla Ramsoedh: “Whether you opt for short-term rental to tourists or long-term rental to residents, the income in Dubai is often higher than in other world cities. This makes Dubai an attractive option for landlords.”
Georgina Zeneldin, Ray White International Dubai: “Dubai offers some of the most attractive rental yields in the world, typically between 6 and 8 percent, sometimes reaching 10 percent in prime areas. Compared to cities such as New York, London or Hong Kong, where yields are significantly lower, Dubai stands out as an ideal destination for investors.”
How important is local knowledge and partnership in successfully navigating Dubai's business climate?
Priscilla Ramsoedh, Dubai-Property.nl: “Local knowledge and partnerships are crucial. That’s why we have offices in both Dubai and the Netherlands. Thanks to our extensive network, we can support our clients with every aspect of their investment, from opening a bank account to applying for visas.” Sandjai Ramautar: “At Dubai-Property.nl, we offer this knowledge free of charge as part of our service. We want our clients to benefit from our experience and expertise, so that they can invest successfully without unnecessary obstacles.”
Robert van de Ven, Zero Tax Consultants: “I can be brief and to the point: it is of vital importance. From experience we can say that we would have been very happy when we started if we had had a decisive and reliable partner like ourselves.”
Georgina Zeneldin, Ray White International Dubai: “Local knowledge and strong partnerships are crucial to doing business in Dubai. Ray White International is deeply integrated into the real estate landscape: we understand the rules, regulations and cultural aspects that drive the market, and our relationships with key developers enable us to secure the best opportunities for our clients.”
How does the Dubai government support foreign investment and entrepreneurship?
Sandjai Ramautar, Dubai-Property.nl: “The Dubai government has created a very investment-friendly climate, mainly due to the almost complete absence of taxes. In many cases, there are no income, wealth or profit taxes for both individuals and companies. This attracts investors from all over the world, as the return on investment is often much higher. In addition, Dubai is strategically located, with excellent infrastructure and connectivity, which makes the city attractive to entrepreneurs who want to operate internationally. In addition to the favorable tax regime, the Dubai government also offers extensive support to foreign investors. They offer various types of visas, including the 'Golden Visa', specially designed for real estate investors, which provides access to long-term residence. This not only makes it easier to start a business, but also to invest in real estate without having to be based in Dubai.” Priscilla Ramsoedh: “What many people do not know is that Dubai is one of the safest cities in the world, both physically and financially. This is crucial for foreign investors. The government takes serious measures to protect investments, including through a mandatory escrow account. This means that property buyers’ money is only released to the developer when a certain part of the construction is completed. This significantly reduces the risk of default or bankruptcy of the developer. This provides additional peace of mind to investors, as their money is safe, even in projects that are still under construction.”
Robert van de Ven, Zero Tax Consultants: “That much is clear: by creating a favourable business climate. Especially in a time when in countries like the Netherlands it is only becoming more difficult and expensive for entrepreneurs, you see that the real entrepreneurial blood is coming to the surface and opportunities and possibilities are being sought. Furthermore, the UAE offers long-term residence visas for foreign investors.”
Georgina Zeneldin, Ray White International Dubai: “The Dubai government is very supportive of foreign investors and entrepreneurs. Initiatives such as 100 percent ownership in free zones, tax-free incentives and long-term visa schemes make it an attractive investment destination. We guide our clients through these benefits and ensure that they benefit from government initiatives while complying with the necessary regulations. Our expertise in this area helps investors enter the Dubai market with confidence and a clear understanding of the legal landscape.”
Can you share a personal success story of a recent investment or venture in Dubai?
Priscilla Ramsoedh, Dubai-Property.nl: “One of our recent successes is the purchase of a 4-bedroom townhouse in the Damac Lagoons project. Two months before Sandjai bought a property there, I bought one for 410.000 euros. Sandjai paid 430.000 euros for a similar property two months later. The same townhouses are now being sold for more than 750.000 euros. This shows the rapid appreciation in the Dubai market.”
Robert van de Ven, Zero Tax Consultants: “For us, participating in MASTERS SUMMER EDITION has been one big success story: we noticed that there are so many Dutch entrepreneurs who, just like us, see the possibilities and opportunities in the UAE.”
Georgina Zeneldin, Ray White International Dubai: “We recently assisted an international client who was unfamiliar with the Dubai property market and concerned about local regulations. Our expertise and market knowledge enabled the client to invest in a prime off-plan property, benefiting from a flexible payment plan and significant capital appreciation. In just over a year, the property increased in value by 20 per cent.”
Can you provide insight into the future expectations of the (real estate) market in Dubai for the coming decade?
Sandjai Ramautar, Dubai-Property.nl: “With the ambitious Dubai 2040 Urban Master Plan, we will see an explosive growth in demand for real estate. The doubling of the population and the focus on sustainability will cause a huge increase in real estate prices.” Priscilla Ramsoedh: “In the coming years, we will also see many new projects, from improved public transport to the development of sustainable neighbourhoods. What do you think of the VTOL (Vertical Take-Off and Landing) air taxis that Dubai is now introducing! These plans will not only make Dubai more attractive to investors, but also to tourists and international companies.”
Robert van de Ven, Zero Tax Consultants: “Personally, I think this is very much related to the course of the global economy and geopolitical situation. Will it remain ‘quiet’ and will there be a so-called ‘soft landing’ in the US and Europe and will a recession be averted? Then the expectations for the coming decade will look favourable. In any other case, we can only guess. The fact remains that the UAE is doing everything it can to make it attractive for (entrepreneurial) people to settle there. And as long as a failing fiscal policy is pursued in (European) countries, that will turn out well.”
Georgina Zeneldin, Ray White International Dubai: “The future of Dubai’s real estate market is bright. With initiatives such as the Dubai 2040 Urban Master Plan, we expect continued growth in sustainable development, luxury real estate and smart city innovations. We foresee Dubai retaining its status as a global investment hub, driven by visionary leadership, high rental income and rapid infrastructure development. The next decade will be one of expansion, innovation and unprecedented opportunities in the real estate sector.”