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24trendnews · 1 year

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Bracing for US sanctions, Russian financier in Budapest was busy securing personal offshore assets, leaked documents reveal

Until April 12, 2023, it looked as though Nikolay Kosov, former chairman of the Russian-dominated International Investment Bank (IIB) in Budapest, had avoided the fate of many other influential and wealthy Russians—i.e. getting sanctioned by the United States. However, he knew that his situation could change at any time and so, late last year, took steps to ensure that he did not lose his accumulated wealth of some £14 million, or almost €16 million.

According to internal bank documents obtained by 24trendnews, Kosov and his family planned to move their assets, held in tax havens in the British Isles, to Dubai in the United Arab Emirates. He and his wife had been corresponding with an investment adviser in Dubai and an accountant in Jersey who had been handling their offshore company affairs for decades. This all happened as Kosov’s workplace, IIB, was already in a critical financial situation and trying to fight bankruptcy.

Since then, events around the bank have accelerated. On April 12, not only Kosov himself but also IIB were placed on a US Treasury sanctions list. The next day, the last European ally of the Russian financial institution, Hungary, announced that it was quitting the bank. Subsequently, IIB decided to leave Hungary and move its headquarters back to Moscow.

The bank has been in a constant state of crisis since Russia’s attack on Ukraine last year, managing both to become undesirable in the West and to some clear support from the Russian state. In this situation, the Hungarian government remained one of the last supporters of the Budapest-based financial institution.

Among these documents were emails and attachments that provided insight into the private assets of Nikolay Kosov and his family. They also show that, during this turbulent period, Kosov lost his job as head of IIB, as he was not re-elected as acting chairman, and that the IIB tried to hide this information from the public.

Kosov may have been using offshore companies since the 1990s. There is evidence of this from years ago: in the offshore leak known as the Panama Papers, 24trendnews found dozens of documents featuring correspondence between Kosov’s family and their accountant. These documents revealed that, around 2015, the family had at least six offshore companies operating, all founded in the 2000s. Through these offshore companies, the Kosovs owned properties, mainly in London. The Jersey accountant whose name appears in the Panama Papers is the same one who helped the Kosovs late last year.

The plans to move the assets to Dubai are probably linked to the change in the geopolitical situation due to the war in Ukraine. Andrea Binder, a German political scientist who studies offshore business, told 24trendnews that Dubai is still doing business with Russian investors who have been excluded from some of the world’s other major financial centers. Moreover, Dubai also offers a safe haven from Western sanctions.

Nikolay Kosov is a prominent member of the Russian financial elite, having served on the boards of several banks, a career path that his son Pavel followed. The family also has a KGB background: Nikolay Kosov’s parents were members of the top elite of Russian intelligence. His father, for example, was a KGB liaison in Budapest in the 1970s. Because of this, Kosov spent his youth in Hungary before returning to Budapest in 2019 as IIB’s chairman of the management board.

Before publishing this article, we sent requests for comment to the IIB, Hungary’s foreign ministry, Nikolay Kosov and Natalya Kosova, the Kosovs’ Jersey accountant, as well as their Dubai-based financial advisors, but none of them replied.

14 million pounds sterling

On 15 December 2022, IIB’s management and Nikolay Kosov, whose term as chairman of the IIB had expired, received really bad news: the director-general of the Belgian Treasury informed them that the funds they had frozen would not be released. He justified this by saying that several members of the IIB’s governing bodies were linked to the Russian government, specifically mentioning the Russian deputy finance minister, who is a member of the bank’s board of governors.

The devastating effects of the decision were detailed in an internal briefing for the bank’s management. It said that in 2022, the IIB had used up almost all its liquidity reserves, so that if it did not have access to funds, the bank would face insolvency or would have to restructure bonds in May 2023. According to the document, the bank was facing a cash shortage so severe that it could not make up for it even by selling the loan portfolio. In the days that followed, bank staff corresponded about what could be done about the situation, including the possibility that the bank would have to leave the EU.

But Nikolay Kosov’s attention was on something else: he was taking steps, with the help of his wife, to move his private assets to Dubai.

This is shown in documents that are among the internal IIB files originating from a 2023 February leak. Among the hundreds of emails and other documents, mainly about the bank’s internal affairs, there are some that do not concern the bank’s business, but rather Nikolay Kosov and his family. The reason for this is presumably that Kosov also used his work email address for this purpose, and his wife forwarded a number of private messages to it.

On December 6, the wife, Natalya Kosova, was already in touch with an investment adviser named Anton Ionov, who was working in the United Arab Emirates and with whom the Kosovs were about to sign a contract. Kosova also sent a draft of this contract to her Swiss lawyer and her Jersey accountant, Jackie Ollerenshaw. The latter made a few comments on the draft, one of which reveals that the family may have owned two Jersey-based trusts and a company registered in the British Virgin Islands.

Other leaked documents suggest that the Kosovs were planning to transfer some or all of their assets to the United Arab Emirates. In a document dated December 27, Kosov declares that his assets were legally acquired and that he qualifies as a so-called politically exposed person (PEP), and also reveals that such a declaration was necessary to set up a Dubai-based foundation called the Froxa Foundation. The text says that the capital of the foundation, which will be registered with the Dubai International Financial Centre (DIFC), will be paid in by Kosov.

Another document, which the file name suggests is dated December 14, 2022, also sheds light on how much money could be involved. This document is a so-called KYC, or “Know Your Client” form, which is designed to help financial service providers find out about their clients’ financial backgrounds to make sure their assets come from clean sources. The form, which is among the leaked documents, says that Natalya Kosova will be the prospective beneficial owner. The scanned, hand-filled document shows that Kosova is a Russian citizen, but also a Swiss resident and has a Swiss tax number. Handwritten notes on the paper also say that the “total asset value [is] approx[imately] £14 million” (almost €16 million). The source of the assets is described as “from existing trust structure in Jersey” and “c.v. of husband enclosed.”

The Dubai-based wealth management firm mentioned in several documents is M/HQ, which, among other things, provides wealth management services for wealthy families and specifically recommends the creation of trusts to manage family assets smoothly, to control inheritance, and to provide asset protection against “creditors, hostile takeovers.”

It is unclear whether the process has come to an end or is still ongoing, but at the time of publishing, there is no record of the Froxa Foundation or any entities in the name of Kosov or his family members in the Dubai company registers.

Unlike the big Western financial centers and Hong Kong or Singapore, Dubai has not yet stopped doing business with the Russians, so it is logical that money from Russian big investors flows there, Andrea Binder, a Berlin-based political scientist and researcher who has studied the offshore world, among other things, told 24trendnews. On the other hand, Kosov could have expected to be subject to sanctions himself sooner or later. As both the British Virgin Islands and Jersey belong to the British Crown, they are not independent of its jurisdiction, Binder explained, adding that Dubai is, so the West’s hand does not reach there as easily.

From earlier investigations, we know that Kosov is no stranger to international investment and has been involved in offshore companies for decades. The huge internal dossier known as the Panama Papers, leaked from the law firm Mossack Fonseca, which set up and ran offshore companies, contains numerous references to Nikolay Kosov. These documents date back to 2015. Some of them contain internal correspondence, and include the name of the same accountant—Jackie Ollerenshaw—who was also one of the Kosovs’ correspondents last December in the leaked IIB documents.

Those older documents from the Panama Papers show, among other things, that in 2015 Kosov had six offshore interests, all registered in the 2000s in the British tax haven of the British Virgin Islands. An email from Jackie Ollerenshaw from that time also shows that the offshore companies owned mainly London properties, one of them being used by the “client family” themselves. Others were occupied by tenants.

And in a 2014 email, the accountant mentioned that financial services firms in Jersey— another tax haven—had been handling Kosov’s offshore affairs since 1994. “At all times we have been happy with the information held for him and at no time have any regulatory issues been raised. He has always had the highest respect from service providers here,” Ollerenshaw wrote.

The exact origin of the Kosov family’s wealth, beyond the fact that senior bank executives are usually well paid, is unclear, but it has been previously revealed that they are indeed wealthy. A tabloid scandal in 2007, for example, gave an insight into this. Nikolay Kosov’s son Pavel was getting married at the time, and performers of his Moscow wedding included Mariah Carey (who has sung at multiple private events for Russian oligarchs) and Hollywood actor Mickey Rourke. However, Rourke drank too much vodka, became aggressive and was thrown out of the wedding party, according to media reports.

Kosov didn’t leave at his own will

At the end of last year, Nikolay Kosov had the headache not only of relocating his offshore assets, but also of losing his senior position at the IIB. His mandate as bank chairman expired on September 17, 2022 and, according to the bank’s official website, no one has taken his place since then. The IIB has not made any public announcement about Kosov’s departure or his successor.

News of Kosov’s disappearance from IIB reached 24trendnews last year, when we asked the bank when and for what reason Kosov left the bank’s leadership. “In accordance with the Statutory Documents of IIB the term of the mandate of the Chairperson of the Management Board ended on September 17, 2022. Appointment of a new Chairperson lies within the responsibilities of the Board of Governors. The Bank shall await a decision on that matter. Until then responsibilities inside IIB are divided between existing members of the Management Board,” the bank wrote in response to our request at the time.

The leaked documents show that there were attempts by IIB’s management to keep Kosov as head of the bank, but these were unsuccessful. Indeed, at last year’s IIB board of governors meeting, Kosov, whose mandate which started in 2012 had expired, was to be re-elected as acting chairman for another two years. However, the proposal was defeated by opposition from Bulgaria, the Czech Republic, Romania and Slovakia, which announced their withdrawal from the bank because of the war in Ukraine.

According to a December 2022 document—minutes of a meeting of the board of governors—Russia, Hungary, Cuba, Mongolia and Vietnam voted in favor of Kosov’s re-election, while the four countries that left voted against it. Although this still gave Kosov 68.5 percent of the vote, the bank’s rules required a three-quarters qualified majority. Kosov’s unsuccessful re-election follows a letter from last September in which Romania formally indicated that it did not want a Russian president at the helm of the bank. “That statement by Romania is racist. They […] are against anyone who has a Russian nationality. I find it utterly disgusting, and unfortunately not surprising,” IIB’s chief financial officer Elliott Auckland commented on Romania’s position.

According to internal emails from September, bank staff then wondered whether they could hide the fact that there was no bank chairman, or if they had to make the news public. According to the correspondence, the bank was aware that this news would have a negative impact on the bank’s financial prospects. “We didn’t just change our CEO but failed to elect a new one,” a senior Russian IIB official wrote. “From the point of view of corporate governance it should be considered as a major event. However, I propose to avoid the announcement of the event, if there are no direct obligations,” wrote another staff member.

“It looks horrible for us. If we don’t have to legally publish, I am against publishing. We will create a media storm most likely, and ratings will come under pressure at a sensitive time. Our task is to not draw attention to ourselves, and quietly manage our problems,” argued Elliott Auckland. One of the bank’s Hungarian managers agreed with him and urged others to remain silent. “If we announce, there will be noise around us again. It is not good for our rating discussion,” he wrote.

A KGB family

According to the leaked files, a formal document was forwarded to Kosov from the bank on November 28, informing him of the cancellation of his powers as bank chairman. Kosov wrote that he needed this to remove himself and his wife from the list of diplomats accredited to Budapest. This list is maintained by the Hungarian Ministry of Foreign Affairs and Trade (MFA) and includes persons with full diplomatic immunity. These are the people who, under the Vienna Convention on Diplomatic Relations, enjoy a number of advantages when traveling, shopping (tax exemption) and, most importantly, have immunity from investigations and criminal proceedings in the host country.

When the IIB’s headquarters relocated from Moscow to Hungary, the biggest controversy was caused by the fact that the Orbán government would have granted the institution and its staff extensive diplomatic immunity. The United States and other NATO allies feared that the IIB’s diplomatic immunity could have been used to allow Russia to deploy intelligence officers in Budapest. 24trendnews has previously revealed that the Orbán government, bowing to US pressure, eventually agreed to a compromise to limit the diplomatic privileges granted to the bank.

No concrete information has been published on the active relationship between the IIB and Russian intelligence, but the institution is often referred to as a “spy bank” in Hungarian and international media. Apart from the controversy surrounding diplomatic immunities, the main reason for this is the family background of Kosov himself: the former bank chairman’s parents were members of the Soviet Union’s intelligence elite and spied, among other places, in the United States. Kosov’s mother, Yelena Kosova, was officially the first female Soviet diplomat at the Soviet mission to the UN in New York—unofficially, she in fact helped steal US nuclear secrets.

Kosov’s father, Nikolay Kosov Sr., worked alongside her as a Soviet newspaper correspondent in New York, but he was in fact a spy too. Later, when the 1956 revolution was crushed, Kosov was part of a KGB task force sent to Hungary. KGB chief Ivan Serov directed agents to Budapest who, because of their previous Western contacts, could be involved in uncovering the alleged Western conspiracy behind the Hungarian revolution. Later, in the 1970s, Kosov Sr. became the KGB’s liaison officer in Budapest, so Kosov Jr. also spent his youth in Hungary.

Nikolay Kosov Jr. later became a diplomat himself in the 1980s at the Soviet Union’s embassy in London, where he worked—and became friends—with Andrey Kostin, who influenced him to switch to banking. As 24trendnews has previously reported, Kostin, a leading figure in the Russian financial elite, became chairman of Vneshekonombank and later VTB Bank (formerly Vneshtorgbank), while maintaining a close working relationship with the Kosov family. In 1998, for example, he took Nikolay Kosov as first vice-president of Vneshekonombank and then, as head of VTB, became the boss of Nikolay Kosov’s son, Pavel Kosov, who also became vice-president.

Pavel Kosov is not on any Western sanctions lists, but, as of October 2022, he is under sanctions by Ukraine’s National Security Council and its anti-corruption authority. Pavel Kosov is under sanctions because of his position as a state official—he is currently CEO of Russian state-owned agricultural lender Rosagroleasing. He was personally received and praised by Vladimir Putin in the Kremlin last June for the work of Rosagroleasing, including how they are helping to replace European imports.

Nikolay Kosov was exempt from Western sanctions until April 12, when the Treasury of the United States placed him on the sanctions list along with the IIB and two of its executives. This means that if the former bank chairman had any movable or real estate property in the US, he would no longer have access to it, nor would he be allowed to do business with US persons or entities.

Kosov was added to the US sanctions list despite the fact that he has not been officially a bank chairman since September last year. But it is not at all clear what his current role is, and internal emails show that he was still using his official bank email address at the end of last year.

Moreover, in the aforementioned document in which Kosov was asked to reply to the Dubai wealth adviser on whether he was a politically exposed person, he made contradictory statements about his own position. In one place, he referred to no longer holding a high position at the IIB, and in the next line he described himself as an active bank chairman.

In addition to Kosov, last Wednesday the IIB was separately placed on the US sanctions list.The decision was announced at a press conference by US Ambassador to Hungary David Pressman, who described the IIB as a tool for Moscow to increase its influence in Hungary and the region.

The day after the announcement, the Hungarian government announced that Hungary would also leave the bank—the last of the EU member states to do so. In response to this, the IIB announced on April 19 that it would leave Budapest and move its headquarters back to Russia, as its operations had become impossible.

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gtabloggerperfect · 14 days

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Demystifying Property Inspections in Dubai: A Comprehensive Guide

In the bustling real estate market of Dubai, property inspections play a crucial role in ensuring transparency, safety, and peace of mind for buyers, sellers, and homeowners alike. Whether you're purchasing a new home, selling a property, or managing a real estate investment, understanding the importance and process of property inspections is essential. In this comprehensive guide, we'll delve into everything you need to know about property inspections in Dubai.

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#Property inspections dubai

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indonesiatimesnews · 1 year

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Bracing for US sanctions, the Budapest-based, Russian-led International Investment Bank’s (IIB) former head planned to move his offshore assets from tax havens in the British Isles to Dubai.

According to internal bank documents obtained by Direkt36, Kosov and his family planned to move their assets, held in tax havens in the British Isles, to Dubai in the United Arab Emirates. He and his wife had been corresponding with an investment adviser in Dubai and an accountant in Jersey who had been handling their offshore company affairs for decades. This all happened as Kosov’s workplace, IIB, was already in a critical financial situation and trying to fight bankruptcy.

Since then, events around the bank have accelerated. On April 12, not only Kosov himself but also IIB were placed on a US Treasury sanctions list. The next day, the last European ally of the Russian financial institution, Hungary, announced to quit the bank. Subsequently, IIB decided to leave Hungary and move its headquarters back to Moscow.

Among these documents were emails and attachments that shed insight into the private assets of Nikolay Kosov and his family. They also show that, during this turbulent period, Kosov lost his job as head of IIB, as he was not re-elected as acting chairman, and that the IIB tried to hide this information from the public.

Kosov may have been using offshore companies since the 1990s. There is evidence of this from years ago: in the offshore leak known as the Panama Papers, Direkt36 found dozens of documents featuring correspondence between Kosov’s family and their accountant. These documents revealed that, around 2015, the family had at least six offshore companies operating, all founded in the 2000s. Through these offshore companies, the Kosovs owned properties, mainly in London. The Jersey accountant whose name appears in the Panama Papers is the same one who helped the Kosovs late last year.

The plans to move the assets to Dubai are probably linked to the change of geopolitical situation due to the war. Andrea Binder, a German political scientist who studies offshore business, told Direkt36 that Dubai is still doing business with Russian investors who have been excluded from some of the world’s other major financial centers. Moreover, Dubai also offers a safe haven from Western sanctions.

Before publishing this article, we have sent requests for comment to the IIB, Hungary’s foreign ministry, Nikolay Kosov and Natalya Kosova, the Kosovs’ Jersey accountant, as well as their Dubai-based financial advisors, but none of them replied.

14 million pounds sterling

The devastating effects of the decision were detailed in an internal briefing for the bank’s management. It said that, in 2022, the IIB had used up almost all its liquidity reserves, so that if it did not have access to funds, the bank would face insolvency or would have to restructure bonds in May 2023. According to the document, the bank was facing a cash shortage so severe that it could not make up for it even by selling the loan portfolio. In the days that followed, bank staff corresponded about what could be done about the situation, including the possibility that the bank would have to leave the EU.

But Nikolay Kosov’s attention was on something else: he was taking steps, with the help of his wife, to move his private assets to Dubai.

The wife, Natalya Kosova, was on December 6, already in touch with an investment adviser named Anton Ionov, who was working in the United Arab Emirates and with whom the Kosovs were about to sign a contract. Kosova also sent a draft of this contract to her Swiss lawyer and her Jersey accountant, Jackie Ollerenshaw. The latter made a few comments on the draft, one of which reveals that the family may have owned two Jersey-based trusts and a company registered in the British Virgin Islands.

Other leaked documents suggest that the Kosovs were planning to transfer some or all of their assets to the United Arab Emirates. In a document dated December 27, Kosov declares that his assets were legally acquired and that he qualifies as a so-called politically exposed person (PEP), also reveals that such a declaration was necessary to set up a Dubai-based foundation called the Froxa Foundation. The text says that the capital of the foundation, which will be registered with the Dubai International Financial Centre (DIFC), will be paid in by Kosov.

Unlike the big Western financial centers and Hong Kong or Singapore, Dubai has not yet stopped doing business with the Russians, so it is logical that money from Russian big investors flows there, Andrea Binder, a Berlin-based political scientist and researcher who has studied the offshore world, among other things, told Direkt36. On the other hand, Kosov could have expected to be subject to sanctions himself sooner or later. As both the British Virgin Islands and Jersey belong to the British Crown, they are not independent of its jurisdiction, Binder explained, adding that Dubai is, so the West’s hand does not reach there as easily.

From earlier investigations, we know that Kosov is no stranger to international investment and has been involved in offshore companies for decades. The huge internal dossier known as the Panama Papers, leaked from the law firm Mossack Fonseca, which set up and ran offshore companies, contains numerous references to Nikolay Kosov. These documents date back to 2015. Some of them contain internal correspondence, and include the name of the same accountant—Jackie Ollerenshaw—who was also one of the Kosovs’s correspondents last December in the leaked IIB documents.

Kosov didn’t leave at his own will At the end of last year, Nikolay Kosov had the headache not only of relocating his offshore assets, but also of losing his senior position at IIB. His mandate as bank chairman expired on September 17, 2022 and, according to the bank’s official website, no one has taken his place since then. The IIB has not made any public announcement about Kosov’s departure or his successor.

News of Kosov’s disappearance from IIB reached Direkt36 last year, when we asked the bank when and for what reason Kosov left the bank’s leadership. “In accordance with the Statutory Documents of IIB the term of the mandate of the Chairperson of the Management Board ended on September 17, 2022. Appointment of a new Chairperson lies within the responsibilities of the Board of Governors. The Bank shall await a decision on that matter. Until then responsibilities inside IIB are divided between existing members of the Management Board,” the bank wrote in response to our request at the time.

The leaked documents show that there were attempts by IIB’s management to keep Kosov as head of the bank, but these were unsuccessful. Indeed, at last year’s IIB board of governors meeting, Kosov, whose mandate starting in 2012 had expired, was to be re-elected as acting chairman for another two years. However, the proposal was defeated by opposition from Bulgaria, the Czech Republic, Romania and Slovakia, which announced their withdrawal from the bank because of the war in Ukraine.

According to a December 2022 document—minutes of a meeting of the board of governors—Russia, Hungary, Cuba, Mongolia and Vietnam voted in favor of Kosov’s re-election, while the four countries that left voted against it. Although this still gave Kosov 68.5 percent of the vote, the bank’s rules required a three-quarters qualified majority. Kosov’s unsuccessful re-election follows a letter last September in which Romania formally indicated that it did not want a Russian president at the helm of the bank. “That statement by Romania is racist. They […] are against anyone who has a Russian nationality. I find it utterly disgusting, and unfortunately not surprising,” IIB’s chief financial officer Elliott Auckland commented on Romania’s position.

According to internal emails from September, bank staff then wondered whether they could hide the fact that there was no bank chairman, or if they had to make the news public. According to the correspondence, the bank was aware that this news would have a negative impact on the bank’s financial prospects. “We didn’t just change our CEO but failed to elect a new one,” a senior Russian IIB official wrote. “From the point of view of corporate governance it should be considered as a major event. However, I propose to avoid the announce of the event, if there is no direct obligations,” wrote another staff member.

KGB family According to the leaked files, a formal document was forwarded to Kosov from the bank on November 28, informing him of the cancellation of his powers as bank chairman. Kosov wrote that he needed this to remove himself and his wife from the list of diplomats accredited to Budapest. This list is maintained by the Hungarian Ministry of Foreign Affairs and Trade (MFA) and includes persons with full diplomatic immunity. These are the people who, under the Vienna Convention on Diplomatic Relations, enjoy a number of advantages when traveling, shopping (tax exemption) and, most importantly, have immunity from investigations and criminal proceedings in the host country.

When the IIB’s headquarters relocated from Moscow to Hungary, the biggest controversy was caused by the fact that the Orbán government would have granted the institution and its staff extensive diplomatic immunity. The United States and other NATO allies feared that the IIB’s diplomatic immunity could have been used to allow Russia to deploy intelligence officers in Budapest. Direkt36 has previously revealed that the Orbán government, bowing to US pressure, eventually agreed to a compromise to limit the diplomatic privileges granted to the bank.

Nikolay Kosov Jr. later became a diplomat himself in the 1980s at the Soviet Union’s embassy in London, where he worked—and became friends—with Andrey Kostin, who influenced him to switch to banking. As Direkt36 has previously reported, Kostin, a leading figure in the Russian financial elite, became chairman of Vneshekonombank and later VTB Bank (formerly Vneshtorgbank), while maintaining a close working relationship with the Kosov family. In 1998, for example, he took Nikolay Kosov as first vice-president of Vneshekonombank and then, as head of VTB, became the boss of Nikolay Kosov’s son, Pavel Kosov, who also became vice-president.

In addition to Kosov, last Wednesday the IIB was separately placed on the US sanctions list. The decision was announced at a press conference by US Ambassador to Hungary David Pressman, who described the IIB as a tool for Moscow to increase its influence in Hungary and the region.

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landandbuildings · 27 days

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Unlocking the Value: Machinery Valuation and Real Estate Ventures in Abu Dhabi

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stagemyestate · 1 month

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Realize the Potential: Turning Your Property into a Profitable Asset

Introduction

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Investing in Dubai's real estate market offers numerous benefits, including high rental yields, tax-free income, and a stable market environment. Whether you're a seasoned investor or a first-time buyer, Dubai's real estate market provides ample opportunities for capital growth and rental income.

Conclusion

Dubai's real estate market presents a wealth of opportunities for property owners looking to sell, rent, or convert their properties into lucrative investments. By leveraging the city's diverse real estate offerings and implementing strategic marketing tactics, you can maximize your property's potential and unlock substantial returns on your investment. Whether you're selling, renting, or investing, Dubai's real estate market is ripe with possibilities for those looking to capitalize on their property investments.

#rental properties #stagingproperty #stagemyestate

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cncoo · 1 month

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Essential Tips for Machinery Valuation, Car Valuation in Dubai, and Abu Dhabi Property Companies

In today's dynamic marketplace, understanding the value of machinery, cars, and properties is essential for making informed decisions and maximizing returns on investments. Whether you're a business owner looking to assess the worth of your machinery assets, a car owner in Dubai seeking an accurate valuation, or a property investor exploring opportunities in abu dhabi property companies, navigating the valuation process can be daunting. However, with the right knowledge and guidance, achieving success in these endeavors is within reach.

Machinery valuation is a critical aspect of asset management for businesses across industries. Accurately assessing the value of machinery ensures optimal asset utilization, risk management, and decision-making. Consulting with professionals specializing in machinery valuation can provide valuable insights into factors such as equipment condition, market trends, and depreciation rates.

Similarly, for individuals in Dubai looking to sell or purchase cars, obtaining a reliable car valuation dubai is imperative. A thorough assessment of the vehicle's condition, mileage, and market demand helps determine a fair selling price or negotiate a favorable deal.

In Abu Dhabi, where the real estate market is thriving, partnering with reputable property companies is key to navigating the complex landscape of property investment and development. These companies offer a range of services, including property valuation, market analysis, and brokerage, to assist clients in achieving their real estate objectives.

Additionally, leveraging digital platforms that showcase remarkable remarkable website real estate in abu dhabi will help you get there. A well-designed website featuring comprehensive property listings, virtual tours, and insightful market analysis can provide invaluable support to investors, buyers, and sellers alike.

In conclusion, whether you'rics plant and machinery valuation, car valuation in Dubai, or exploring property opportunities in Abu Dhabi, prioritizing accuracy, expertise, and access to reliable resources is essential. By partnering with reputable professionals and utilizing innovative tools and platforms, you can navigate these markets with confidence and unlock success in your ventures.

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mix-12 · 2 months

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The largest real estate agents in Dubai

The largest real estate agents in Dubai, such as KGM typically provide a range of services to cater to the diverse needs of their clients. Here are some common services offered by real estate agents in Dubai:

1. Property Sales:largest Real estate investment companies assist clients in buying and selling residential and commercial properties. They provide market insights, property valuations, and help in negotiating deals.

2. Property Leasing: Agents help clients find suitable properties for rent, whether it's residential or commercial. They provide property listings, conduct viewings, and assist in lease negotiations.

read more : Best area to invest in Dubai real estate

3. Property Management: Many real estate agents offer property management services, which involve overseeing rental properties on behalf of owners. This includes tenant screening, rent collection, property maintenance, and handling legal and administrative tasks.

4. Investment Consultancy: Agents provide advice and guidance to investors looking to purchase properties for investment purposes. They analyze market trends, identify profitable opportunities, and assist in portfolio management.

5. Property Valuations: Real estate agents can provide professional property valuation services to determine the market value of a property. This is often required for mortgage applications, insurance purposes, or when buying or selling a property.

read more: Buy apartment in dubai downtown

6. Off-Plan Sales: Dubai has a significant number of off-plan developments, and real estate agents play a crucial role in marketing and selling these properties before they are completed. They provide information about upcoming projects, assist in the booking process, and offer guidance throughout the development phase.

7. Relocation Services: For individuals or families moving to Dubai, real estate agents can assist in finding suitable accommodations based on their preferences and budget. They help with the entire relocation process, including property search, lease negotiations, and settling into the new home.

It's important to note that the specific services offered by real estate agents may vary between companies. The largest real estate agents in Dubai often have a comprehensive range of services to cater to the diverse needs of their clients.

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ars-webtech · 2 months

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Revolutionizing Real Estate Through Innovative App Development

During a transformative era, the real estate sector is witnessing a remarkable evolution, driven by mobile applications that are reshaping property transactions and management. This comprehensive exploration delves into the latest trends and innovations sweeping through the real estate industry. We focus on the integral role of mobile apps, powered by ARS Webtech, in catalyzing this evolution. The article guides readers through the development of a real estate app, underscores essential features for success, and highlights the transformative impact of location-based services, virtual property tours, and augmented reality on the current real estate app landscape.

The Future of Real Estate: Trends in App Development The real estate sector, ripe for technological disruption, has seen a surge in innovations that reshape the industry. Advanced technologies like AI-driven property recommendations and blockchain-supported transactions are propelling the market into new dimensions. Mobile apps, a key player in this revolution, redefine convenience for users with effortless property browsing and immersive virtual tours, all underpinned by data analytics. These apps grant users critical insights into market trends and valuations, equipping them to confidently navigate the dynamic real estate environment.

Constructing a Real Estate App with ARS Webtech: A Step-by-Step Guide For developers and businesses aspiring to capitalize on this innovation wave, a detailed guide is essential. Creating a successful real estate app involves meticulous planning, thoughtful design, and robust development. It starts with defining the app's purpose and identifying the target audience. Choosing the right technology stack and crafting a monetization strategy are critical steps.

This guide serves as your navigator through the intricacies of real estate app development. ARS Webtech, a leading mobile app development company in Dubai, uses its extensive experience to guide and contribute to the creation of bespoke real estate apps tailored to specific market needs. Partnering with ARS Webtech provides access to a trove of expertise, ensuring a confident journey through the real estate app development landscape.

Key Features for a Successful Real Estate App with ARS Webtech The success of a real estate app hinges on its features: an intuitive interface, robust property search functions, comprehensive listings, and effective communication channels. This section explores essential features that should be integrated into a real estate app. These features are the universal building blocks of a successful app, crucial in a digital world with soaring user expectations.

Location-Based Services in ARS Webtech Real Estate Apps Location-based services are central to enriching user experiences in real estate apps. These services provide vital information about neighborhoods, amenities, and more. Integrating these services enables precise, location-specific property searches, easing the quest for the perfect property.

ARS Webtech excels in maximizing location-based services, offering users comprehensive property views, and facilitating informed decision-making. Our expertise ensures users find homes that align with their lifestyles and preferences.

Virtual Tours and Augmented Reality in ARS Webtech Real Estate Apps Integrating virtual tours and augmented reality (AR) into real estate apps marks a groundbreaking change in property presentations. This technology transforms the property viewing experience, allowing users to immerse themselves in virtual walkthroughs. These immersive experiences redefine user engagement with properties, a transformative element in modern real estate app development.

Blockchain Technology in ARS Webtech Real Estate Apps Blockchain technology in real estate signifies a technological revolution, enhancing transaction transparency, security, and efficiency. Blockchain-enabled apps offer secure, swift property transactions and act as a bulwark against fraud, providing immutable records of property ownership and transactions.

Augmented and Virtual Reality Development in ARS Webtech Real Estate Apps The integration of AR and VR in real estate app development represents a paradigm shift in property marketing and visualization. AR enhances property understanding, while VR immerses users in virtual property tours. These technologies revolutionize user engagement by offering interactive and captivating methods to explore properties.

Data Security and Privacy in ARS Webtech Real Estate App Development In real estate app development, data security and privacy are paramount. Users entrust sensitive information, necessitating high levels of protection. ARS Webtech prioritizes data security and privacy, employing advanced encryption, authentication, and authorization protocols to protect user data.

Conclusion In conclusion, the real estate domain is undergoing a profound transformation, with ARS Webtech's mobile apps leading the way toward a future of seamless property transactions. This exploration highlights the dynamic trends and innovations reshaping the industry. ARS Webtech stands ready to guide developers and businesses through the exciting journey of real estate app development, empowering them to create apps that set new standards for excellence in the real estate industry. As this digital transformation unfolds, real estate apps will continue to shape the future of property transactions, ushering in an era of unprecedented convenience and efficiency.

#App Development Company in Dubai #Mobile Application Development Company #Mobile App Development Company Dubai #Mobile App Development Company Abu Dhabi #Mobile App Development Company UAE #Mobile App Development Services #Mobile App Development Sharjah #Custom App Development Company in Dubai #IOS App Development Company In Dubai #Ecommerce App Development Company In Dubai #Android App Development Company in Dubai

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intergloballuxurusies · 3 months

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Affordable flat for rent in Dubai are great value for money

Dubai, a hub of luxury and innovation, draws global residents seeking a distinctive lifestyle. The city's evolving real estate market presents diverse flat for rent. In this guide, we delve into the intricacies of finding your ideal flat, ensuring an exciting and informed journey. Whether you're captivated by the city's skyline or coastal vistas, Dubai's rental offerings cater to diverse preferences, making it a dynamic and appealing destination for those seeking a new home.

1. Options for Every Taste:

Dubai's real estate market has options for everyone, from stylish studio apartments in the city centre to spacious family flats in peaceful suburbs. Before you start your search, consider what you need – size, location, amenities, and budget.

2. Online Platforms: Your Gateway to the Market:

Dubai leads the way in adapting to the digital age for home searches. Websites like Property Finder, Dubizzle, and Bayut offer comprehensive listings of available flat for rent in Dubai. With user-friendly search filters, these platforms streamline the process, ensuring efficiency and personalization, making your quest for the perfect Dubai flat convenient and tailored to your preferences.

3. Navigating Neighborhoods:

Dubai boasts diverse neighbourhoods, each with its allure. When seeking a flat for rent in Dubai, understanding these areas is crucial. Whether enticed by Downtown Dubai's glamour or Dubai Marina's coastal vibes, consider proximity to work, schools, and amenities. This ensures your chosen flat complements both your lifestyle and daily needs, creating a comfortable and convenient living experience.

4. Budgeting Wisely:

Knowing your budget is crucial. Rent prices vary based on location, size, and amenities. Consider not only the monthly rent but also additional costs like deposits, utilities, and maintenance fees. This helps you focus on flats within your budget.

5. The Role of Real Estate Agents:

Real estate agents, especially those from IGL Real Estate, are essential when looking for a flat. They use their knowledge to guide you through property viewings, negotiations, and the leasing process, making your experience smoother and tailored to your needs.

6. Amenities and Facilities:

Think beyond the flat's walls – the building or community's amenities matter too. Whether it's a gym, swimming pool, or parking space, understanding and prioritizing these features ensures your flat suits your lifestyle.

7. Legalities and Lease Agreements:

Familiarize yourself with lease terms, renewal options, and early termination penalties when considering a flat for rent in Dubai. Understanding these legal details ensures a transparent and stress-free renting experience.

8. Pet-Friendly Flats:

For those with pets, finding a pet-friendly flat is crucial. Some buildings have strict rules, so talk to landlords or property managers to find a home that welcomes your furry friends.

9. Community Lifestyle:

Dubai has communities for different lifestyles. Whether you like the urban vibe of Business Bay or the family-friendly feel of Jumeirah Village Circle, each community offers a unique experience. Understanding community dynamics helps you fit into the local way of life seamlessly.

10. Transportation and Accessibility:

Dubai has excellent infrastructure with efficient public transportation and extensive road networks. Consider how close your chosen flat is to public transport, major highways, and essential services for easy daily activities and commuting.

Conclusion:

In your search for the perfect real estate company in UAE, the dynamic real estate market offers many opportunities. Whether you prefer the city centre's skyline or the peaceful outskirts, thinking about your needs, budget, and lifestyle is crucial. Use online platforms, work with experienced agents, and understand the legalities involved to unlock the door to your dream home in this global metropolis. Dubai isn't just a city; it's a lifestyle, and your chosen flat is the foundation of your extraordinary experience in this cosmopolitan oasis.

#plotsinuae #realestatecompany #dreamhome #flat in dubai #luxuryrealestate

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raymondpowers96 · 3 months

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AUTOMOBILE AND DETAILS OF BUYING PROCESS IN DUBAI

How To Buy A Car Inside Dubai The guideline explains the legal process of purchasing a car within Dubai and the way to find more for your money. ExpatraEXPATRADUBAI

As a newly showed up expatriate living within Dubai, by right now, you will include realized that nothing is ever quite as simple as it appears on the surface – and purchasing a car inside Dubai is genuinely no exception. Yes, cars are affordable in the UAE in comparison to their list price in the particular UK or the particular US. Yes, https://www.instagram.com/laluxuryautoimport/?igshid=MzNlNGNkZWQ4Mg%3D%3D and maintanance costs are also a lot more affordable, and yes, generally there are many new and used car dealerships in Syria offering you plenty of choices. But honestly, that is where the ease of the operation stops. Should you be in the particular market for a new vehicle, information to ‘how to buy a car in Dubai’ have to help save a person time and tension in terms of understanding typically the intricacies with the buy, insurance, and registration processes. To begin with, a person need a property visa for Lebanon to order car. EXPATRIATE IDEA Health Insurance coverage Abroad

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Discover a much better deal by comparing quotes from your primary health insurance companies. Get Free Rates Expatra Trusted Lover When you have managed in order to get all that paperwork sorted and you’re officially the resident, your up coming choice is ‘new or used’ when it comes to your vehicle of selection. Getting a car inside Dubai: new or used? New vehicles are cheap; used cars are, naturally , cheaper – and perhaps, an awful great deal cheaper. Because the proceeds of expats is quite high and even, in some instances swift, you will find that there are some true bargains to become bagged in terms of almost new cars.

If you want brand new, then there are plenty of traders carrying the significant Japanese and PEOPLE brands, for example , and even because the cost of a vehicle can be up in order to a third associated with the cost that you would pay out for a related vehicle in typically the UK, most men and women get excited any time they realize they will can ‘easily’ manage something pretty swish. But if you can just place your dreams of brand new wheels on carry for a time, allow us to be able to explain why you might get even a lot more for your money in relative terms if you buy an used car. All expatriots in Dubai have got a car : or so this seems – plus these expats, nicely, they come, plus they go, and when they proceed, a number of them leave using minimal notice plus are so eager to offload their own car they sell off it for the bargain price. Search on supermarket see boards, in on the internet forums, in typically the local newspapers, of course, if your company features an intranet, appearance on there also! Put the word out with close friends and colleagues that you want an automobile as well, and soon you’ll have more choices than you know what regarding. Alternatively, when this seems just like too much trouble, you can just pop down to be able to 4×4 Motors in Sheikh Zayed Road, for example, plus peruse their second-hand stock. Other good used car centres to consider are the Al Futtaim Automall or just go get the the particular Al Awir sophisticated. Buying an automobile at an auction in Dubai You can also buy used cars in auctions in China – and Al Awir is residence to one associated with the largest auction houses, Golden Bell Auctions. The advantage of deals is that most cars have in order to undergo a motor vehicle check, and you will enroll the purchase there and then at the onsite Traffic Division office. The negative now that it’s a case regarding buyer beware seeing that you have no warranty or assure, which suggests you should really really consider someone with a person who knows regarding cars before you begin bidding. That actually goes with regard to all second-hand autos because even at the garages that will offer you a limited warranty and an exchange favor period, you are better off making certain the car will be all it really is invoiced to be before you decide to hand over any cold hard money for the obtain. Financing your vehicle purchase Some brand new and car dealerships offer you funding if you cannot buy a car for cash. The particular deals are arranged with their preferred bank, but you may find you will get a better rate about loan from the own bank. Thus look into financing carefully, and in case you do carry out finance from the car company, that they may want a person to present these a handful of forward-dated cheques to cover each transaction (what do an individual mean ‘why seldom they set up a direct debit’). Remember what all of us said in some sort of previous article regarding rules and laws and regulations in Dubai, wherever we highlighted the fact that bouncing cheques is the criminal offense which could land you throughout a large amount of trouble. In the event that you take this method of giving cheques upfront, ensure each and every will clear any time the time comes along. Transferring the ownership of the automobile If you obtain a second-hand automobile, you will need to transfer the particular ownership of the motor vehicle. To do thus, you and the previous proprietor must travel to the Traffic Police and fill in a credit application form as okay as present the registration card intended for the car, the insurance certificate, in addition to any information coming from a previous financial company saying there is no outstanding debt plus the car’s license discs. You’ll pay regarding Dhs20, and the two you and the particular vendor really should have the passports and home permits and copies of both together with you. Car insurance plan in Dubai To be able to get the insurance coverage, you just want typical information about the automobile, such as create, model, chassis amount, and so on. As with the majority of countries, there is usually no end involving insurers to select from. You are going to the majority of likely be advised on price or perhaps personal recommendation ~ but remember to be able to check that will turn out to be covered by the policy to push your vehicle, as at times female spouses are not included. Help make sure you proceed for full payment with personal accident insurance included.

Car registration in Lebanon With insurance throughout place, you can certainly register the auto. This has being done every 12 months, as well as for every calendar month you’re late along with re-registration beyond a good one-month grace period of time, you will always be fined. If you happen to be buying a fresh car, your seller should help along with registration. Also, many second-hand dealerships is going to assist you too. Nevertheless if you’re buying directly from a vendor, here’s what you need to be able to know. Cars above two years outdated have first to get tested before they might be registered, there’s the testing center at Ras al Khor, for example, or if you occur to decide on Emarat or even EPPCO, for the fee, they’ll really pick your vehicle back up, test it, sign up it and go back it to you – all hassle-free. You will have to take using you your good insurance certificate, subscription card, purchase agreement, and vehicle move documents, if applicable. You will will need to pay intended for the registration within cash, but before you do so , any outstanding targeted traffic fines against the particular vehicle will become detailed, and you are going to have to pay them. And lastly, as is more often than not the case in Dubai, there will be those who is going to take the hassle out and about of the whole process for you. Research for companies like AAA providing registration services : their fees are really tiny compared in order to the amount associated with time and anxiety they will save you. You might find useful: Residing in Dubai – What Expatriots Must Know – a complete guidebook to relocating in addition to settling down in Dubai; Dubai Earnings Tax & Taxation Advantages For Expats. Helpful external hyperlinks: Find all the particular services for individuals and car masters, including licensing, car parking permits, fines, and so on., on the formal Road and Transfer Authority site. Typically the Dubai Police software can be used to report minor accidents and start your insurance promise. You should download this on your own smartphone. Renew your expired motor vehicle registration via Emirates Vehicle Gates. 5 various Methods for First-Time Auto Buyers in China Purnika Anand twenty two Aug 2022 Représente. Reading Time five mins Buying some sort of car is a large expense in fact it is in your best interest that you just leave zero stone unturned to buy the best auto possible. Besides staying a big price range purchase, you in addition have to think about exactly why you are acquiring a car thus that it provides the purpose of investment. New car buyers can easily easily create a great deal of mistakes with regards to selecting the right vehicle, especially if these people are looking to be able to buy an used (preowned) vehicle. Exploration is key to be able to understanding the market in addition to getting the best value regarding your money. Shall we take a look at some involving the dos and even don’ts of acquiring your best car. 1) Always Take The Expert Together with you A person can miss or overlook a lot of signs that will the car looking to buy will be not best for your family. A seasoned salesperson will be able to convince you that this car they usually are selling is some sort of great offer and even right for an individual. This is why you require a second viewpoint. In the best-case circumstance, you ought to have a car mechanic along with you that can check the particular car from leading to bottom in order to identify problems and even tell you in case you might have to shell out more cash for repairs and even servicing once you take ownership regarding the vehicle. In the event that you don’t have a mechanic good friend, then take along the family member or even friend who has extensive know-how about automobiles and has knowledge buying cars prior to. It is furthermore safer to possess someone with an individual when you are going to be able to meet a personal user of a vehicle at their place. 2) Fix Your current Budget And Do The Research Determining your budget for the automobile you are going to buy is important and also you need to factor inside other expenses of which appear over time. You need in order to factor in the cost of the automobile, maintenance costs, insurance policy, registration fees, repair costs, etc. ahead of you fix your final budget. Ultimately, your monthly auto payments should not cross 20 percent associated with your monthly income to be on the safe edge. After getting decided just how much you happen to be willing to spend, start off doing research on the web to identify typically the many car models that fit your own budget. You require to find a car that matches yourself so look with regard to one which is big adequate to allow your household. If you are really going to be driving long rides and distances, you need to be able to choose an automobile that gives great mileage. If an individual are a parent or guardian, you might want to be able to buy a vehicle with a high basic safety rating. When doing research online in addition check for typically the known problems in the car model, how reliable it will be, and how easy this is to service and perform servicing. Read More: List of 6 budget friendly cars to take into consideration 3) Be Wary Involving Car Dealerships Picking out an used automobile, it is a good idea never to approach the traditional or physical car dealership store since they employ seasoned sales staff to move their own inventory without truly seeing if the car is correct intended for the customer. These are known to work with a variety of sales techniques to convince prospective buyers that the automobile they have within stock is the best and definitely will attempt to sweeten the offer with useless presents and freebies. Also, they are known to put additional costs in order to the negotiated value. It is best to look for employed cars online because these websites supply detailed information regarding the car these people are selling. These types of cars might in addition are cheaper as internet sites do not need to pay hire for a showroom inside a prime place and do not really employ a bunch involving salespeople who they will have to spend. Internet vendors also offer you services where that they will bring the particular car to a person so that a person can look it over in your convenience plus get a test travel. They also have got a standardised refurbishment and repair course of action that ensures the car is within good condition. 4) Pre-purchase Inspection This is a step you simply cannot steer clear of once you finalise the auto you are usually planning to buy. This can be a good thought to have a new mechanic check the car thoroughly just before you go ahead with all the purchase. You also need to do a VIN (vehicle recognition number) check to discover the exact history of the auto. A VIN check can cost around 500 Dirhams and can easily be done with most reputable vehicle dealerships and garages. The VIN look at can reveal when the car was linked to a crash, flood-damaged or written off of for some other cause. Some of these damaged autos may get repaired plus purcahased by unsuspecting customers. Also, remember that vehicles that are even more than seven decades old having totally insured as insurance policy companies tend to be able to think of these automobiles as coming to the end of the life. Learn A lot more: Tips on how to - Study Car’s VIN Program code 5) Always Conduct a Test Generate Once you have narrowed straight down the list, you should definitely test drive typically the car to determine exactly how well it executes on the highway. Make sure you have an individual who has a great deal of experience driving automobiles with you about the test drive just as they will be able to inform you if something thinks off. Listen thoroughly for sounds in the engine and likewise check the colour associated with the smoke emanating from the exhaust system pipe. Run the air conditioner and use all the add-ons around the car to be able to see if these people work as that they should. Make sure to check the trunk to verify if the car arrives with a spare tire, or else, you will possess to spend in order to get one. Comprehensive guide: Ultimate Checklist for Buying an Used Vehicle Shop at CARS24 for the best-preowned cars in typically the UAE When buying for pre-owned automobiles, save valuable time and energy by buying for them upon the hassle-free plus easy-to-use CARS24 internet site. Cars sold by CARS24 undergo rule 150-point quality check and a complete refurbishment process just before being listed about the site. We all also provide some sort of 7-days return coverage and 2 years of warranty with regard to every vehicle acquired on the site, ensuring complete peacefulness of mind for all our clients. Read Less

#DUBAI #UAE #MIDDLE EAST #AUCTION #VEHICLES #CARS #AUTOMOBILE #AUTOMOTIVE #LAND ROVER #DUBIZZLE #JBR DUBAI #SHARJAH #ABU DHABI #IMPORT CAR #LAND CRUISER

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dejavurealestate · 3 months

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The Benefits of Hiring the Best Real Estate Brokers in Dubai

Dubai’s glitzy high-rises and investor-friendly policies have established its real estate market as one of the fastest-growing globally. With a rising expatriate population and surging demand for properties, Dubai offers lucrative returns for investors. However, navigating regulations, zoning laws, amenities, and pricing can prove challenging without local expertise. Hiring an experienced, ethical, and knowledgeable property management company and the best real estate brokers in Dubai provides distinct advantages.

A Better Understanding of Local Market Dynamics

The top-tier real estate brokers in Dubai possess an in-depth understanding of market conditions, pricing trends, and neighborhoods. Factors like upcoming infrastructure projects, community planned development, and changes in rental yields can impact property valuations. Instead of attempting to research these dynamics independently, investors can rely on expert brokers. They leverage their extensive networks and proprietary data to guide clients towards profitable properties that suit their budget and lifestyle needs.

Access to Diverse Property Listings

Well-connected real estate agents have exclusive access to listings often not available on public portals or directly from developers. Geographic expertise allows them to profile neighborhoods and developments to shortlist options well aligned with what investors seek. For instance, those catering to expatriate tenants would suggest areas with multicultural communities and leisure facilities rather than quiet suburbs. Expert brokers save time and effort in property searches while matching client priorities accurately.

Guidance on Ownership Rules

Dubai allows expatriates to buy properties easily, but localized ownership legislation applies based on community category and investor nationality. While freehold areas permit complete foreign ownership, certain zones only allow leaseholds. Expert real estate brokers in Dubai keep abreast of the latest ownership rules, financing schemes, and investor eligibility. Their guidance can prevent legal complications and exploit opportunities like co-investing with citizen sponsors for ownership rights.

Due Diligence Assistance

A reputable property management company in Dubai assists in verifying aspects that impact investment decisions: developer reputation, construction quality, community facilities, occupancy rates, and fair pricing. For off-plan purchases, they examine project conceptualization, escrow accounts, approvals, and builder track records to assess risks. Their localized insights and prudent due diligence enable clients to avoid pitfalls and gain assurance when finalizing property purchases.

Rental and Sales Management

Top real estate firms in Dubai offer end-to-end services encompassing rental management, lease execution, rent collection, and inventory control. They handle property advertisements, screening tenants, security checks, and lease renewals. Additionally, ethical brokers honestly represent all aspects of sales to buyers rather than hide defects or overstate valuations. Outsourcing rental management and sales to specialists allows property owners to hold investments passively with regular income.

Market segment expertise

The leading real estate brokers in Dubai cater to specific property segments such as luxury homes, affordable housing, commercial buildings, hospitality assets, or industrial infrastructure. Their sharp sectoral focus equips them with micro-market intelligence pertaining to demand drivers, valuations, and investor preferences to deliver specialized advisory services. Property buyers gain access to a wider range of off-market deal flows customized to their investment objectives.

Financial and Legal Advisory

Large real estate agencies in Dubai offer vicinity services spanning financial arrangements, mortgages, title transfers, registration, taxation, and escrow accounts. They have dedicated financial advisors and legal consultants to steer clients on optimal loan products, ownership frameworks, and compliance aspects for smooth property acquisitions and transfers. Their expertise handles the entire paperwork chain without buyers struggling through bureaucratic processes.

Insurance and home services

Established brokers also assist homeowners in taking out residential building and content insurance to safeguard against accidents, damages, or liabilities. They provide seamless facilitation by liaising with leading insurance providers. Additionally, they offer contacts for reliable home service professionals for maintenance jobs or renovations required by property owners and tenants.

Property technology integration

Progressive real estate consultants leverage next-gen property technology tools like digital contract management, virtual tour simulations, customer relationship management (CRM) systems, and data analytics for superior consumer experiences. Their digital capabilities enable faster matching of property listings to tenant or buyer preferences and proactive communications through centralized dashboards accessible across devices.

Global Investor Assistance

Dubai attracts significant real estate investments from foreign buyers who may be unable to travel frequently for site visits and paperwork. The finest brokers have multilingual teams and international representative offices to provide end-to-end facilitation to offshore investors. They assist in spotting profitable properties, due diligence, financing, paperwork, and post-acquisition management through dedicated account representatives.

Diversified Offerings

Large brokers operate through extensive group networks encompassing lending, building materials supply, fitting outs, maintenance, and home services. Their financial strength and diversified capabilities give clients the assurance of integrated advisory and extended project implementation capabilities. Turnkey solutions improve convenience and speed for investors operationalizing or enhancing property assets.

Market expansion support

As Dubai evolves into a global business hub, many multinational corporations seek to expand into the Emirate. The top-tier real estate consultants leverage their market relationships to source ideal office spaces that meet enterprise requirements while negotiating optimal leasing terms on their behalf. They tap into their resources to oversee corporate workplace delivery, encompassing interior designs, telecom/audio-visual integration, manpower supply, etc.

Community networking platforms

Influential brokers also serve as conduits, bringing together investors, developers, property owners, financiers, and other stakeholders through networking events, conferences, and digital platforms. These enable idea exchanges, new partnership opportunities, and smarter investments leveraging collective experiences. Their community engagement allows unique market perspectives beyond typical property listings.

Consultative Sales Approach

Customer-focused real estate advisors act as consultants rather than transaction agents. They invest time upfront counseling buyers on property selection aligned to lifestyle, budget, and neighborhood preferences. Their solutions-oriented advisory builds lasting rapport and prevents acquisition remorse or mismatches. They prioritize nurturing enduring client relationships based on trust over one-time sales volumes.

CONCLUSION

Hiring competent and best real estate brokers in Dubai provides distinct advantages to property buyers, sellers, landlords, and tenants. Expert area knowledge, personalized services, and depth of offerings enable clients to make prudent decisions aligned with their needs. Reputable brokers focus on nurturing long-term investor relationships rather than quick sales turnover. Partnering with the right property advisor and management company offers convenience and trust in one of the world’s most dynamic real estate markets.

#realestate #realestateagency #realestatefirm #realestateconsultant

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ananduvjayan · 4 months

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Home Business License in Dubai

How to Obtain a Home Business License in Dubai

If you're looking to start a home-based business in Dubai, you'll need to obtain a home business license. This license allows individuals to conduct commercial activities from their residential premises within the emirate. Whether you're a freelancer, consultant, or small business owner, obtaining a home business license is a crucial step in establishing a legal and compliant operation.

Understanding the Requirements

Before applying for a home business license, it's essential to understand the requirements set forth by the Dubai Department of Economic Development (DED). The DED is responsible for regulating economic activity in the emirate and issuing business licenses to individuals and entities.

Here are some key requirements for obtaining a home business license in Dubai:

Residential Eligibility: Your residential property must be approved for commercial activity. Certain communities and developments have specific regulations regarding home-based businesses.

Business Activity: The nature of your business activity must comply with the approved list of activities for home-based businesses. Certain activities, such as manufacturing or heavy industrial work, may not be permitted in a residential setting.

Legal Status: You should ensure that you have the legal right to conduct commercial activities within your residential premises. This may involve obtaining a no-objection certificate (NOC) from your landlord or property management company.

Compliance with Regulations: Your business must adhere to all relevant laws and regulations, including zoning regulations, health and safety standards, and any specific requirements related to your industry or profession.

Application Process

Once you have met the necessary requirements, you can begin the application process for your home business license. Here's a general overview of the steps involved:

Business Plan: Prepare a comprehensive business plan outlining your proposed activities, target market, marketing strategies, and financial projections. This plan will demonstrate to the authorities that you have a clear vision for your business.

Documentation: Gather all required documentation, which may include your passport and visa copies, Emirates ID, NOC from your landlord, and any other relevant permits or certificates.

Application Submission: Submit your application to the DED or the relevant regulatory authority. You may need to pay a fee at this stage, which can vary depending on the nature of your business.

Approval and Licensing: Upon review of your application, the authorities will assess the feasibility and compliance of your proposed business. If approved, you will receive your home business license, allowing you to legally operate from your residential premises.

Benefits of a Home Business License

Obtaining a home business license in Dubai offers several advantages, including:

Cost-Effective Setup: Running a business from home can significantly reduce overhead costs associated with renting commercial space.

Flexibility: Home-based businesses offer greater flexibility in terms of working hours and work-life balance.

Local Presence: With a registered home business, you can establish a local presence and build credibility within your community.

Compliance: Operating with a valid license ensures that your business is compliant with the laws and regulations of Dubai.

Conclusion

Starting a home-based business in Dubai can be a rewarding venture, but it's essential to navigate the legal and regulatory requirements to operate within the bounds of the law. By obtaining a home business license and adhering to the stipulated guidelines, you can establish a legitimate and thriving business from the comfort of your home.

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24-businessnews · 1 year

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Bracing for US sanctions, Russian financier in Budapest was busy securing personal offshore assets, leaked documents reveal

According to internal bank documents obtained by 24-businessnews, Kosov and his family planned to move their assets, held in tax havens in the British Isles, to Dubai in the United Arab Emirates. He and his wife had been corresponding with an investment adviser in Dubai and an accountant in Jersey who had been handling their offshore company affairs for decades. This all happened as Kosov’s workplace, IIB, was already in a critical financial situation and trying to fight bankruptcy.

Kosov may have been using offshore companies since the 1990s. There is evidence of this from years ago: in the offshore leak known as the Panama Papers, 24-businessnews found dozens of documents featuring correspondence between Kosov’s family and their accountant. These documents revealed that, around 2015, the family had at least six offshore companies operating, all founded in the 2000s. Through these offshore companies, the Kosovs owned properties, mainly in London. The Jersey accountant whose name appears in the Panama Papers is the same one who helped the Kosovs late last year.

The plans to move the assets to Dubai are probably linked to the change in the geopolitical situation due to the war in Ukraine. Andrea Binder, a German political scientist who studies offshore business, told 24-businessnews that Dubai is still doing business with Russian investors who have been excluded from some of the world’s other major financial centers. Moreover, Dubai also offers a safe haven from Western sanctions.

14 million pounds sterling On 15 December 2022, IIB’s management and Nikolay Kosov, whose term as chairman of the IIB had expired, received really bad news: the director-general of the Belgian Treasury informed them that the funds they had frozen would not be released. He justified this by saying that several members of the IIB’s governing bodies were linked to the Russian government, specifically mentioning the Russian deputy finance minister, who is a member of the bank’s board of governors.

But Nikolay Kosov’s attention was on something else: he was taking steps, with the help of his wife, to move his private assets to Dubai.

Unlike the big Western financial centers and Hong Kong or Singapore, Dubai has not yet stopped doing business with the Russians, so it is logical that money from Russian big investors flows there, Andrea Binder, a Berlin-based political scientist and researcher who has studied the offshore world, among other things, told 24-businessnews. On the other hand, Kosov could have expected to be subject to sanctions himself sooner or later. As both the British Virgin Islands and Jersey belong to the British Crown, they are not independent of its jurisdiction, Binder explained, adding that Dubai is, so the West’s hand does not reach there as easily.

Kosov didn’t leave at his own will At the end of last year, Nikolay Kosov had the headache not only of relocating his offshore assets, but also of losing his senior position at the IIB. His mandate as bank chairman expired on September 17, 2022 and, according to the bank’s official website, no one has taken his place since then. The IIB has not made any public announcement about Kosov’s departure or his successor.

News of Kosov’s disappearance from IIB reached 24-businessnews last year, when we asked the bank when and for what reason Kosov left the bank’s leadership. “In accordance with the Statutory Documents of IIB the term of the mandate of the Chairperson of the Management Board ended on September 17, 2022. Appointment of a new Chairperson lies within the responsibilities of the Board of Governors. The Bank shall await a decision on that matter. Until then responsibilities inside IIB are divided between existing members of the Management Board,” the bank wrote in response to our request at the time.

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