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Sharjah restricts property ownership to UAE and GCC nationals

Posted on 26 August 2010

From Ameinfo.com: The ruler of Sharjah, Dr Shaikh Sultan Bin Mohammad Al Qasimi, has issued a decree restricting foreign ownership of land and properties to UAE and GCC nationals, Gulf News has reported.
“The law has limited the right to own real estate in the emirate to the UAE nationals and nationals of GCC Gulf Arab states and corporate bodies fully owned by them. But the exception may be granted by [the] Ruler to own property through the inheritance transition in accordance with Shari’ah declaration, legitimate or waiver of the owner to a relative of the first degree as prescribed by executive regulations of this law,” the decree said……………………………………….Full Article: Source


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