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Buying real estate in various jurisdictions - UAE, Cyprus, and other

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OlegB

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Mar 3, 2021
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#1
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Hello,

I'm starting a new thread to ask about what are the rules of purchasing a real estate in various jurisdictions. I'm approaching the point where I'll be investing some money in real estate. Considering jurisdictions like UAE, Cyprus, but I'm also open and interested about other countries.

I am especially interested about buying for cash handed physically to the buyer.
Does anyone know if real estate purchase in UAE or Cyprus can be done with handing cash instead of wiring money from bank accounts? Any practice of doing this?
Does anyone have experience of purchasing with cash in other countries, ex. Turkey?
How about purchasing directly with crypto? Has anyone done that in UAE / Cyprus / Turkey / other countries?

All opinions, thoughts appreciated.
Many thanks.
WIshing a good, relaxing weekend to all forum members!
 
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#2
OlegB said:
Hello,

I'm starting a new thread to ask about what are the rules of purchasing a real estate in various jurisdictions. I'm approaching the point where I'll be investing some money in real estate. Considering jurisdictions like UAE, Cyprus, but I'm also open and interested about other countries.

I am especially interested about buying for cash handed physically to the buyer.
Does anyone know if real estate purchase in UAE or Cyprus can be done with handing cash instead of wiring money from bank accounts? Any practice of doing this?
Does anyone have experience of purchasing with cash in other countries, ex. Turkey?
How about purchasing directly with crypto? Has anyone done that in UAE / Cyprus / Turkey / other countries?

All opinions, thoughts appreciated.
Many thanks.
WIshing a good, relaxing weekend to all forum members!
Click to expand...
Cash in the UAE is still acceptable. Many Emiratis will withdraw cash and take it to the dealership to buy a car. I have a client who bought a Lamborghini like this in excess of $200K.

You shouldn't have a problem.
 
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#3
#5
OlegB said:
Thank you both! UAE looks like the easiest option definitely.

Does anyone have experience in buying for cash/crypto in Cyprus?
Or Malta? I heard it is so crypto friendly...
Click to expand...
Cyprus generally has very good opportunities in real estate, with good income, if it is for investment purposes. However, due to AML law it would not be possible to purchase a property fully in cash.
 
#6
OlegB said:
How about purchasing directly with crypto? Has anyone done that in UAE / Cyprus / Turkey / other countries?

All opinions, thoughts appreciated.
Many thanks.
WIshing a good, relaxing weekend to all forum members!
Click to expand...
There are ways to purchase using cryptos - we actually have some developers at the moment who are open to accepting this kind of payments.
 
#8
Yes I am referring to Cyprus - due to the increase in tendency of buyers seeking to pay in crypto, sellers are now much more open, and there are a number of legal ways to make such payments for any kind of property in Cyprus.
 
#11
Cyprus? Real estate? Until last year when Cyprus passport program was available, why would these two words even be linked together...

Someone was offering me a 2.5m eur villa 1.5 years ago which..today...is worth... eur 400k

Regarding UAE, yes it is possible to purchase property for cash, however might be tricky to find the right agency who would accept this, but yes cash is definitely very much king in the UAE
 
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#12
OlegB said:
Hello,

I'm starting a new thread to ask about what are the rules of purchasing a real estate in various jurisdictions. I'm approaching the point where I'll be investing some money in real estate. Considering jurisdictions like UAE, Cyprus, but I'm also open and interested about other countries.

I am especially interested about buying for cash handed physically to the buyer.
Does anyone know if real estate purchase in UAE or Cyprus can be done with handing cash instead of wiring money from bank accounts? Any practice of doing this?
Does anyone have experience of purchasing with cash in other countries, ex. Turkey?
How about purchasing directly with crypto? Has anyone done that in UAE / Cyprus / Turkey / other countries?

All opinions, thoughts appreciated.
Many thanks.
WIshing a good, relaxing weekend to all forum members!
Click to expand...
People still think that UAE or Cyprus and most importantly Turkey are somewhat good investments, while there are other new players in the market that offer a much broader perspective, in long term value appreciation and flexibility of rule of law and way of doing things, such as Albania or Montenegro, both coastal countries with more & more developing tourism, laid off laws specially for foreigners and 1000s of ways to do certain things with as little as possible headaches, as long as someone is willing to pay.
 
#13
UAE property is quite booming at the moment, but in terms of quality.... terrible, absolutely terrible. Properties here are not built to last, and are finished with the most cheapest materials. It's kind of a joke
 
#14
equityone said:
People still think that UAE or Cyprus and most importantly Turkey are somewhat good investments, while there are other new players in the market that offer a much broader perspective, in long term value appreciation and flexibility of rule of law and way of doing things, such as Albania or Montenegro, both coastal countries with more & more developing tourism, laid off laws specially for foreigners and 1000s of ways to do certain things with as little as possible headaches, as long as someone is willing to pay.
Click to expand...
Cyprus has excellent investment opportunities with great return. Please don’t connect the investment scheme with simple investments. There a number of important EU investors purchasing property in Cyprus both for personal use and to rent out.
 
#15
CyprusLaw said:
Cyprus has excellent investment opportunities with great return. Please don’t connect the investment scheme with simple investments. There a number of important EU investors purchasing property in Cyprus both for personal use and to rent out.i
Click to expand...
But yet oversaturared, regardless my point was that people should start looking to other options on the market and not blindly follow cliches and mainstream models..
 
#16
I've asked some real estate developers in Georgia if they accept cash and they said yes. Haven't purchased any though, so I can't guarantee. But from what others also have mentioned here on this forum, it does seem to be a possibility.
 
#18
Marc Rich said:
Regarding UAE, yes it is possible to purchase property for cash, however might be tricky to find the right agency who would accept this, but yes cash is definitely very much king in the UAE
Click to expand...

There is no problem buying anything in the UAE with cash I think.
I talked to some real estate agents and they told me you can buy properties worth millions with cash easily.
Also you can buy any car here with cash as well. Really nobody cares.

If property in the UAE is a good investment is another question.
As you said, the quality is bad, looked at some villas and the quality was s**t.
 
#20
Konstanz said:
The problem is not to buy with cash in UAE . Problem will be to bring loads of cash through customs out of your country
Click to expand...
If you have a good connection you can buy BTC OTC with cash, or just bank transfer in your country.
Then you can cashout the BTC here for cash, there are plenty of shops where you can do that with large amounts.
Of course that would costs you a few % in total
 
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