Dubai property registration fees are set by the Dubai Land Department (DLD). Registration of property is a legal requirement to ensure ownership is properly recorded, and serves to protect both the buyer and the seller. Defaulting on this responsibility can lead to fines and penalties, and the DLD has issued a notice detailing the cost for owners who have not heeded its repeated words of caution.
In the announcement made in April 2016, new Dubai Land Department transfer fees were announced to be levied on defaulters. This new fine totals AED 10,000 (about £1,800 - £1,900 depending up exchange rates) on those who have defaulted on these registration fees. This increases the fee rate for defaulters from 4% to 8%. The new property transfer fees for the property registration services department will be levied on those for either not registering and/ or delaying the registration of various land transactions. These include property sales, disposals, building sales and grants, as well as mortgages, lease to own arrangements and building registrations. The increased fees came into force on 17th April 2016. The fines will be applied in the following ways. Firstly, the AED 10,000 fine is levied on all property disposals which happened before 31st August 2008 but registered after the 30 October 2008 deadline. A fine, equalling twice the prescribed Article 6 fee, is levied on property disposals not correctly registered with the DLD up until April 16th 2016. A similar double fine is to be levied on real estate rights and leased properties not registered with the DLD which owe fees prior to April 16th 2016 or were registered after the 60-day deadline from the time the contract was signed.
At Seal Real Estate Registration Trustee, we can help you navigate the often complex property market in Dubai. We help clients with end-to-end services including everything from organising mortgages to property sales, transfers and paying all required Dubai property registration fees. Contact us today via email@example.com or log on to http://www.sealra.com/.