Registration of freehold properties in Offshore Company’s name

Dubai Land Department has introduced a new regulation prohibiting the registration of freehold properties in the name of Offshore Companies from foreign jurisdictions, such as companies registered in British Virgin Islands, Cayman Islands, Guernsey etc., for the time being. The move is aiming to create more transparency in property
transactions. However, offshore companies registered as per Jebel Ali Free Zone Regulations and Ras Al Khaimah Free Zone Regulations are acceptable.