View Full Version : Expats & Properties In Oman?!


HITMAN
01-12-05, 10:25 PM
is it true that Oman is going to start allowing expats to buy properties?

though there will be limitaions for them...

generally speaking, why arent expats allowed to buy/build their own houses?

Shinoda LP
01-12-05, 10:30 PM
Thats odd and surprising. What are the restrictions on expats who wish to acquire property in Oman?

HITMAN
02-12-05, 10:33 PM
Shinoda, as per my knowledge, expats cant have their own lands/homes...

maybe there r exceptions...

Shinoda LP
02-12-05, 10:39 PM
Yeah, I know that. I was talking about the new rule going into effect, Hitman.

What would the restrictions be, if an expat was to say own some property?

HITMAN
02-12-05, 10:44 PM
again, what ive "heard" is that there will be a limited number of apartment blocks for expats to buy an apartment...

waiting for someone with better idea about this subject...

Shinoda LP
02-12-05, 10:51 PM
Own Your Land and Obtain A Visa For Your Family In Oman - Forever

An expatriate or foreigner will soon be able to own property / real estate - on a freehold basis - in integrated tourism-designated areas. As per Mr. Mohsin bin Khamis Al Balushi, Tourism Under-Secretary at the Ministry of Tourism, both the buyer and his relatives of the first degree will be allowed to reside in the Sultanate. A foreigner buying the property, his wife and children will be granted residential visas. Separate visas will be introduced to cater to this. Any natural or legal entity with any foreign nationality will be allowed to buy property in Oman for residential and investment purposes. Foreign ownership is being allowed to promote inward investment and encourage residential tourism. A decree to this effect was issued by the Ministry of Housing, Water and Electricity earlier. The law allows individuals - expatriates and foreigners and corporate entities - to own real estate in designated tourism-related areas, for residential or investment purposes. The decree has stipulated that the real estate bought should be developed within a maximum period of four years from the date of purchase. Failing this, the ministry will re-possess the property at the price of purchase or the price of the property determined in a public auction, whichever is lower. Owners will have the right to sell their real estate, be it a developed property (e.g. a residential unit) or land ready for development. A government committee will be formed to license and designate comprehensive tourism-related areas in Oman and the Ministry of Tourism will identify its responsibilities. This, by and large, is the framework of the law.Read here: Source (http://www.pkfuae.com/site/updates/jan05/offshore.htm)

This thing's titled January 2005. Hmm ...

Muscati
02-12-05, 11:22 PM
A ministerial decree came out about it but the royal decree is yet to follow. When it comes out the first properties which will be allowed for foreigners will be Muscat Golf and Country Club, The Wave, Blue City, and soon after the Yiti and Shinas developments which will be announced in January by Dubai International Properties.

Greg T Bunny
03-12-05, 09:46 AM
It will be interesting to see if Oman still goes ahead with the freehold propery law since the UAE has made a complete U-Turn on the freehold law. The last I read about this issue is that there will be no Federal Freehold law, but the individual Emirates could sill make their own provisions. But so far nothing has been decided.

Still there are property/apartments being advertised as 'Freehold' even though this law does not exit.