Frequently Asked Questions
1. Can foreigners own property in RAK?
Yes — foreign ownership is permitted in designated freehold and RAK FTZ zones.
2. What draws investors to RAK?
With rapid tourism growth, beachfront destinations like Al Marjan Island and Mina Al Arab offer attractive returns and tax friendly policies.
3. How reputable is the developer environment?
RAK developments are backed by government investment via RAKIA and established developers with transparent infrastructure oversight.
4. Are payment plans and escrow used?
Yes — major projects follow UAE off plan standards with regulated escrow and phased payments.
5. Is resale before handover allowed?
Most developers permit assignment/resale of off plan units once a minimum payment threshold has been met.
6. What types of off plan projects are common?
Resorts and mixed-use developments on islands like Al Marjan and Mina Al Arab are prominent.
7. Is rental income viable post handover?
Yes — coastal tourist zones attract seasonal rentals and long-term tenants.
8. What legal protections exist?
No property or wealth taxes, but VAT applies; free zones offer 100% foreign ownership and fast-track visas.
9. What fees should buyers expect?
Similar to UAE, buyers pay DLD style transfer fees, registration costs, and annual service charges.
10. What is the risk perspective?
Risks include delays and developer quality—thus choosing RAK FTZ registered developers and escrow backed projects is essential.