Latest news with #SovereignPPG
Time of India
02-06-2025
- Business
- Time of India
UAE sees surge in foreign-owned real estate firms
More foreign-owned real estate agencies are entering the UAE market as the sector continues to grow in both investment activity and property transactions. With Dubai setting monthly records and other emirates like Ras Al Khaimah attracting first-time investors, the country's property sector is seeing sustained interest from brokers and consultancies, according to a report by Gulf News. The UAE now allows 100% foreign ownership of real estate brokerages, investment consultancies, and development firms. This has become the standard structure for new entrants, according to Jim Swallow, Commercial Director at Sovereign PPG. 'Full foreign ownership in the real estate brokerage, investment consultancy and development is the standard set up now,' he said to Gulf News. 'Most of the demand for a new real estate brokerage business set up is to be 100% foreign-owned.' This shift began in mid-2021, following changes to the UAE's Commercial Companies Law, which removed the previous requirement for a 51% local partner in many mainland sectors, including property services. Since then, new license registrations for real estate firms have increased steadily. While some firms still retain local partnerships—either due to joint ventures or location-specific ownership rules—many have transitioned to full foreign ownership. 'Many firms have since opted for share transfer to 100% foreign ownership if the local partner was a silent partner,' Swallow added. 'Where the local partner was an investor and active in the business, some have opted to be bought out.' (Join our ETNRI WhatsApp channel for all the latest updates) Although Dubai's property price growth is expected to slow in certain areas, interest in setting up brokerages remains strong. New firms are also eyeing opportunities in Ras Al Khaimah and Abu Dhabi, where real estate activity is expanding. Ras Al Khaimah, in particular, is drawing more first-time European investors, prompting overseas consultancies to establish operations there. Live Events You Might Also Like: UAE introduces 5 new categories for Golden Visa eligibility 'There are still foreign family offices and investment firms setting up UAE operations and possibly wanting to take up positions in local real estate,' said a Dubai-based broker to Gulf News. According to the report, in April, Dubai real estate posted its best-ever month for transactions, according to brokers. The Dubai Land Department currently lists over 25,800 licensed real estate brokers, and the number is continuing to rise. This has encouraged fresh graduates to explore careers in real estate, even as agencies like Fitch predict a potential slowdown in price growth in the near term. Becoming a licensed broker in Dubai requires individuals to register with the Dubai Real Estate Institute, complete a training program, and pass an exam administered by the Real Estate Regulatory Agency ( RERA ). A license is issued upon successful completion of the process. As more players enter the market and foreign firms seek to tap into regional demand, the UAE's real estate sector continues to present opportunities despite changing dynamics. You Might Also Like: VFS Global launches world's largest visa centre in Dubai's Wafi
Zawya
28-04-2025
- Business
- Zawya
Sovereign PPG Qatar appoints Mindy Tan as Business Development Manager to strengthen Middle East-Asia Business Connections
Doha: Sovereign PPG, a leading corporate services provider in the GCC, is pleased to announce the appointment of Mindy Tan as Business Development Manager in its Qatar office. This strategic hire supports Sovereign PPGs continued focus on driving business setup in Qatar while enhancing support for Asian investors entering the Middle East market. Born in Singapore and having spent many years in Australia, Mindy brings a global perspective and deep industry expertise to the team. With a professional background in financial services, Mindy has a unique blend of commercial insight and client advisory skills including Financial Advisory, Assets Distribution and International Tax Planning. Mindy has transitioned into the corporate services sector, driven by a passion for supporting international businesses in establishing a strong presence in Qatar and the wider GCC region. Fluent in English and Mandarin, Mindy plays a pivotal role in bridging the gap between Asia and the Middle East. She works closely with Sovereign PPG's Singapore and Hong Kong offices to facilitate seamless market entry and business expansions into the GCC region. Mindy is also slated to participate in a number of high-profile Asia–Middle East initiatives, including the prestigious Belt and Road Summit 2025 in Hong Kong later this year. Her bilingual proficiency, combined with strong financial expertise, uniquely positions her to support Asian clients seeking trusted, strategic entry into the Middle Eastern market. Commenting on her new role, Mindy said, 'Qatar offers significant opportunities for Asian businesses through its strategic location, pro-investment policies, and growing demand across sectors like energy, infrastructure and technology. I am thrilled to be part of a team dedicated to streamline the setup process and delivering tailored support to clients through every stage of their journey.' Mindy's appointment underscores Sovereign PPG's commitment to building long-term partnerships and delivering high-value corporate services in Qatar. Her expertise in business development and cross-border strategy further enhances the company's offering to foreign investors, entrepreneurs, and corporations seeking seamless expansion into Qatar's evolving economic landscape. About Sovereign PPG: Sovereign PPG is the leading corporate services provider in Abu Dhabi, Dubai, the wider UAE, Oman, Qatar, Bahrain and Saudi Arabia. As part of the Sovereign Group, we also assist private clients and retirement planning services to generate, structure and protect their income and assets in the most efficient way. Sovereign PPG key services include outsourced PRO, Visa support, HR Services, Accountancy & Bookkeeping; Payroll for LLC companies, foreign branches and rep offices as well as freezone, mainland and offshore companies. Sovereign PPG is on a mission to provide security, transparency, speed, efficiency and local knowledge to international corporations and investors wishing to set up and run their business in the GCC.
Express Tribune
27-02-2025
- Business
- Express Tribune
What's the most popular way to get Dubai's Golden Visa?
Salama AI service also provide help in health and other services. PHOTO: FILE Listen to article The UAE Golden Visa program, which allows for 10-year residency through property investment, remains highly popular, with a significant number of buyers still pursuing this option, especially for properties valued at Dh2 million or more. In the first two months of 2025, there has been continued strong interest in off-plan purchases at or above the Dh2 million threshold, especially when coupled with attractive incentives such as lower down payments and flexible installment plans. According to real estate agents, buyers interested in securing a Golden Visa typically prefer newly launched projects in Dubai, provided they meet the Dh2 million requirement. This preference has persisted since the removal of the 50% payment requirement to begin processing a Golden Visa, a change made in January 2024. While the UAE offers various residency options, such as for professionals with certain salaries and business investors, property investment continues to be the most popular route. "There has been an increase in transactions compared to last year," said Libbie Burtinshaw, Head of Operations at Sovereign PPG. Interest in the Golden Visa is not limited to Dubai; Abu Dhabi has also seen rising demand, with authorities simplifying the application process. Developers and agents predict that the visa program will continue to drive property sales in 2025, particularly as the residency benefit appeals to a wide range of individuals, from younger newcomers to long-term residents. In addition to property investors, skilled professionals, retirees, and top university graduates are also showing interest in the Golden Visa program. For university graduates, eligibility requires a recommendation letter from an accredited institution, a GPA of 3.5 or higher from universities classified A or B by the UAE Ministry of Education, and a degree from an accredited institution. The Golden Visa program continues to serve as a key motivator for property purchases in the UAE, making it an attractive option for those looking for long-term residency in the country.
