Gifting Property Dubai

What is Property Gifting?

Gifting in Dubai is a practice whereby a person can transfer part or all of a property to an eligible relative as a gift, entitling them to a reduction in the transfer costs of the property.

This means that if you are moving property between the "Nuclear Family" e.g. Inter spouse and Parent/ Child. The Dubai Land Department may offer you a discounted rate from 4% to 0.125% of the valued amount to move the property between parties. This may also apply when moving an asset from a company name to an individual name and vice versa.

Gifting is a good way to manage and deal with early succession planning, Tax planning or just portfolio management, The process can be time consuming and comes with many rules, paperwork and processes to complete to do it successfully. At Domain Conveyancing we are experts in what can and can’t be done and can make your plans of gifting hassle free and easy.

If you are planning on Gifting or transferring any or all of your property portfolio to your family or between companies then you need to call us before you start and we can make sure your journey is seamless and that you receive the greatest benefit and tax deduction in return.