Pakistanis have to hand in the details before buying properties in Dubai

Home - Blog - Pakistanis have to hand in the details before buying properties in Dubai

Many Pakistanis are purchasing property in Dubai rather in their own nation, however, they must pay taxes even so. This is happening due to the political and social conditions of Pakistan. People of Pakistan cannot depend on their own country’s situations, and it seems that the situation is not going to become any better any time soon.

An authority from the FBR, who requested not to disclose his name, said that Pakistani powers are quick to catch up on the investors. He said that Pakistan and the UAE had signed an arrangement that permits the two nations to trade for data with one another.

Property proprietors of Pakistan in Dubai said that security concerns and an absence of speculation opportunities back home were pushing them to buy resources into Dubai. The Dubai Land Department reported that Pakistanis were the second biggest property owners in the UAE, after Indians.

In the first quarter of this current year, 953 Pakistanis put a sum of AED 1.392 billion in property. Nouman Bokhari, 46, a Pakistani financier in Dubai for 20 years and proprietor of a few properties in the city, said that with the instability at home and absence of trust, Dubai-based properties had turned into a place of refuge for Pakistani people. Cash stream is entirely directed in the UAE, which is then observed and reported through administrative bodies and banks. Sources of funding are more straightforward here than in Pakistan. However, one should not misunderstand and think that Pakistani investors have illegal cash and are trying to clean it up by buying something not within their country.