*Several Arab residents in the Kingdom who want to stay in the country for a long period of time are interested in buying housing units to escape the high rental prices of flats and apartments. Regulations in Saudi Arabia allow expatriates to own homes or other properties for investment but they must pay a tax estimated at 10 percent of the property's value. Expats from the Gulf countries such as Palestine, Leba**n and Syria in particular are interested in buying housing units in the Kingdom in the form of houses or real estate to ensure a more stable future. According to Saudi Arabia's foreign investment regulations, an expatriate who is licensed to practice a business or a profession is entitled to own the property for residential purposes or to practice their business or profession.
09-02-2014, 11:01 PM
Expats face hurdles in registering housing units in their own name
*Several Arab residents in the Kingdom who want to stay in the country for a long period of time are interested in buying housing units to escape the high rental prices of flats and apartments. Regulations in Saudi Arabia allow expatriates to own homes or other properties for investment but they must pay a tax estimated at 10 percent of the property's value. Expats from the Gulf countries such as Palestine, Leba**n and Syria in particular are interested in buying housing units in the Kingdom in the form of houses or real estate to ensure a more stable future. According to Saudi Arabia's foreign investment regulations, an expatriate who is licensed to practice a business or a profession is entitled to own the property for residential purposes or to practice their business or profession.
العرض العادي
