Can Expats Buy Apartments in Business Bay? A Full Guide

Dubai is one of the most exciting cities in the world. It is modern, clean, safe, and full of opportunities. People from many countries come here to work, live, and enjoy a better life. Some stay for a few years, while others want to settle for the long term.

If you are an expat living in Dubai or planning to move here, you might wonder:
Can I buy an apartment in Dubai?
More specifically, can I buy an apartment in Business Bay?

The answer is yes. As an expatriate in Business Bay, you are permitted to purchase property in Dubai. Many people from other countries have already bought homes here. Dubai’s government has made the process easy and welcomes international buyers.

Can Expats Buy Apartments in Business Bay?

Yes, the expats can buy apartments in Business Bay. You do not have to be a UAE citizen to own a home in Dubai. The city has special areas called freehold zones in Dubai. In these zones, foreigners can buy property and have full ownership.

Business Bay is one of these freehold zones.

This means if you buy an apartment in Business Bay, you will own it completely. It will be your property forever. You can live in it, rent it out, sell it later, or even pass it on to your children. You will have all the rights of a property owner, just as you do in your home country.

This change in law has enabled many expatriates to settle in Dubai and invest in real estate. The city wants people from other countries to feel welcome and at home.

About Business Bay in Dubai

Business Bay is a popular area in Dubai. Initially, it was primarily used in offices and companies. However, it has now evolved into a modern place to live, boasting numerous new buildings, stunning views, and excellent facilities.

Here is why people like Business Bay:

It is located near famous attractions such as the Burj Khalifa, Dubai Mall, and Downtown Dubai.
Many apartments have amazing views of the Dubai Canal.
You will find restaurants, cafes, gyms, parks, and supermarkets nearby.
The buildings are new, clean, and secure.
There is easy access to metro stations, buses, and roads.
It is excellent for both working professionals and families.

You can enjoy a high quality of life here. You can work, relax, and have fun — all in one place.

Why Business Bay Is a Good Investment?

Buying an apartment is a big step. It is essential to choose the right area. Business Bay is not only a desirable place to live, but also a brilliant investment opportunity.

Let us look at some numbers from 2025:

AED 4.5 billion worth of properties were sold in Business Bay in just the first half of the year.
There were more than 1,900 property deals, with most being off-plan apartments.
The average price per square foot is approximately AED 2,317, representing a 5.6% increase compared to last year.
The average annual rent is around AED 106,600, but it depends on other factors, such as how far the apartment is from the metro station (i.e. if you are looking for a 2 BHK apartment to rent, the rent would be AED 146,000).
Some apartments offer rental yields of over 13%, which is better than many other cities around the world.

These numbers show that demand is high, and investors are confident. Many people purchase apartments here to live in, while others buy them to rent out and earn an income.

Freehold vs Leasehold Properties: What’s the Difference?

When you are buying property in Dubai, you might hear the words freehold and leasehold. These are two types of ownership.

Let us understand what they mean:

Feature	Freehold	Leasehold
Ownership Type	Full and outright ownership of the property and the land it sits on.	Right to use and occupy the property for a fixed period, usually 10-99 years.
Duration of Ownership	Indefinite; ownership is permanent and can be passed down generations.	Limited to the specific term of the lease agreement.
Control & Rights	Complete control over the property; can sell, rent, renovate, or mortgage freely.	Limited control; typically requires landlord permission for significant alterations or sub-leasing.
Applicability in Business Bay	Yes, Business Bay is a designated freehold area for expats. This means foreign nationals can fully own properties here.	Generally, no, as Business Bay is primarily a freehold area for expat property ownership. Leasehold is more common in non-freehold zones or for specific commercial agreements.
Transferability	Easily transferable through sale or inheritance.	Transferable, but the new owner inherits the remaining lease term.
Long-term Investment	Excellent for long-term investment, capital appreciation, and building generational wealth.	Can be an investment, but the value may depreciate as the lease term shortens.
Maintenance & Service Charges	The owner is responsible for common area service charges.	The leaseholder is responsible for common area service charges, as per the lease agreement.

In Business Bay, you get freehold ownership. That means you fully own the apartment. You do not have to worry about renewing a lease or losing your rights after some years.

How to Buy an Apartment in Business Bay (Step-by-Step)?

Buying an apartment in Business Bay is simple if you follow the steps carefully. Here is a clear and easy guide for expats:

1. Search for a Property

Start by checking online listings or visiting Business Bay. Compare different apartments in terms of size, price, and views. Decide what matters most to you — maybe it’s the location, the canal view, or the building’s gym.

2. Hire a RERA-Registered Agent

Always work with a real estate agent who is registered with the Real Estate Regulatory Agency (RERA). A good agent will:

Help you find the right apartment
Handle all the documents
Make sure everything is legal and clear

3. Make an Offer and Sign the MoU

Once you find an apartment you like, you make an offer. If the seller agrees, you both sign a paper called the Memorandum of Understanding (MoU). This shows that both sides agree on the price and terms. You also pay a 10% deposit at this stage.

4. Get a No Objection Certificate (NOC)

If the apartment is not new and has a previous owner, the building developer must issue a NOC. This document confirms that there are no outstanding bills or legal issues associated with the property.

5. Go to the Dubai Land Department

At this office, the final transfer of the apartment happens. You pay the required government fees, and the apartment becomes yours.

6. Get Your Title Deed

This is your official proof of ownership. Once you receive this paper, you are now the legal owner of the apartment.

What Costs Should You Expect?

Besides the apartment's price, there are some other costs you should be aware of.

Cost	Details
Down Payment	Usually 15–25% of the property price
Dubai Land Department Fee	4% of the property price
Real Estate Agent Fee	2% of the price + VAT
Mortgage Registration Fee	0.25% of the loan amount
Service Charges	AED 15–30 per square foot (paid yearly)

Tip: It is smart to keep 6–8% extra for these costs when planning your budget.

Can Expats Get a Loan (Mortgage)?

Yes. Many banks in Dubai give loans to expats. The amount you can borrow depends on your income and credit history. Some things banks look for:

Proof of salary or business income
Passport and visa copy
Bank statements
Credit score

Interest rates typically range from 3.5% to 5%. You may also obtain pre-approval before you begin your search. This helps you know how much you can afford.

Why Buying Now Is a Smart Move?

Dubai’s property market is robust and continues to grow. The city is planning for the future, with an emphasis on building more structures, expanding transportation options, creating green spaces, and establishing new schools. It is safe, family-friendly, and tax-free.

Here are a few more reasons:

No income tax or property tax
High rental income
Strong resale value
Great quality of life
A growing population (expected to reach 5.8 million by 2040)

Final Words

If you are an expat considering buying a home in Dubai, Business Bay is a great option. You get full ownership of a house in one of the best parts of the city. You can live in it, rent it out, or just keep it as an investment.

The process is simple. The location is perfect. And the lifestyle is unmatched.

When you are ready to take the next step, work with a trusted real estate developer in Dubai who understands what modern buyers want. ANAX Developments is known for offering stylish, well-designed apartments in Business Bay that strike a balance between comfort and value.

Frequently Asked Questions

1. Can foreigners buy property in Business Bay, Dubai?

Yes, foreigners can buy property in Business Bay. It is a freehold area, which means expats can own the property completely. You can live in it, rent it out, or sell it. It’s a legal and safe investment.

2. Is Business Bay a good place for expats to live?

Yes, Business Bay is a great area for expats. It is close to Downtown Dubai, has modern buildings, and offers restaurants, cafes, gyms, and canal views. It’s well-connected and perfect for professionals, couples, and families.

3. What are the steps for expats to buy property in Dubai?

Expats must choose a property, work with a RERA agent, make an offer, sign the MoU, get a No Objection Certificate (NOC), and complete the transfer at the Dubai Land Department. Finally, they receive the title deed.

4. What are the costs involved in buying an apartment in Business Bay?

Besides the apartment price, buyers must pay 4% to the Dubai Land Department, 2% agent fees, mortgage registration fees (if any), and annual service charges. It’s smart to keep 6–8% extra to cover all extra costs.

5. Can expats get a home loan to buy property in Business Bay?

Yes, expats can apply for home loans in Dubai. Many banks offer mortgage options with down payments as low as 15%. Banks will verify income, credit score, and documents such as a passport, visa, salary slip, and bank statements.

6. What is the rental yield in Business Bay for property investors?

Rental yields in Business Bay can reach up to 13.5% for some apartments. The area is always in demand due to its location, making it a smart choice for investors who want strong rental income in Business Bay from tenants.

7. Is it better to buy or rent in Business Bay as an expat?

Buying is better for long-term savings and investment. You gain full ownership, build equity, and avoid rising rent costs. With strong rental returns from Business Bay Apartments and no tax, buying an apartment in Business Bay is a smart move.

8. Do I get residency if I buy property in Dubai?

Yes, you can apply for a residence visa if you buy property in Dubai. To qualify, the property should be worth at least AED 750,000, and it must be fully paid (not under a mortgage). The visa is usually valid for 2 to 10 years, depending on the value and type of property purchased.

9. Which areas in Dubai can foreigners buy property?

Foreigners can buy property in areas officially marked as "freehold zones" by the government. These include some of the most popular and high-demand areas.

Business Bay (A modern commercial and residential hub near Downtown Dubai.)
Dubai Marina
Palm Jumeirah
Downtown Dubai
Jumeirah Lake Towers (JLT)
Dubai Hills Estate
Arabian Ranches

These zones offer full ownership rights to expat buyers.

10. Can a foreigner have 100% property ownership in Dubai?

Yes, foreigners can have 100% ownership of property in designated freehold areas in Dubai. There is no need for a local partner or sponsor. You can buy, sell, lease, or rent the property freely under your name.

11. Can I get a Golden Visa if I buy property in Dubai?

Yes, if you invest AED 2 million or more in property, you may be eligible for Dubai’s 10-year Golden Visa. This visa offers long-term residency and benefits for you and your family. The property must be fully owned (not mortgaged) and meet all legal requirements.