In this article, we present to you the most important details about apartments for sale in Muscat, starting with important information about apartments in Muscat and what are the features that encourage many people who want to own property in Muscat, whether for housing or investment, and then we will talk about the conditions for foreigners that must be met in order to own property in Muscat and what They are the required papers and some necessary advice that must be taken into consideration before making a purchase decision. Finally, we will answer you the most common questions about ownership in Muscat.
We hope you read full of interest in this article.
Apartments for sale in Muscat and important information
The city of Muscat is located in the Jordanian capital, Amman, and is considered one of the most desirable places for housing and investment, due to its distinction among the Arab countries in many respects, whether cultural and civilizational, as well as the availability of work, entertainment, and services.
The city is characterized by its combination of development, progress, and modern services, in addition to its civilization and culture, which has characterized it over the years, as it has attracted a lot of housing or ownership in it, whether for locals or foreigners, and it has also become an important option for investors who want to invest.
So, if you want to own or invest in Muscat, you must know some important information, such as features, conditions, and some important tips that we will mention in this article.
Advantages of owning property in Muscat.
The city of Muscat has many features that encourage ownership or real estate investment in it, which has increased the search for apartments for sale in Muscat, as it included many features, namely:
• Geographical features.
The city of Muscat is characterized by an important geographical location, as the Sultanate of Oman is located in the middle of the Middle East and is surrounded by Saudi Arabia, Yemen and the United Arab Emirates. In addition, the most important characteristic of it is its mild climate throughout the year, with temperatures ranging between 20 and 35 degrees Celsius.
• Social features.
Socially, this city was distinguished by its culture and development, which made it a destination for foreign investment, as well as an advanced education system, health system, and many other services that benefit the citizens.
• Political features.
Political and economic stability is one of the most important factors that concern the investor before starting his investment. Muscat is characterized by its stable government, which seeks to provide a suitable environment for its investors.
• Legislative features.
The legislative advantages are represented in many aspects that protect the interests of investors, as there are many real estate laws and regulations that protect the interest of the investor, in addition to special laws to protect foreign investors, and also the law in Muscat guarantees the right of ownership for foreigners and allows them to obtain a residence permit.
• Special features for foreigners.
As for foreigners, the government has granted them the possibility of obtaining a 6-month residence visa that can be renewed, in addition to obtaining full ownership rights to the property and the freedom to dispose of it, whether by selling or renting it.
Conditions for ownership in Muscat for foreigners
If you wish to own property and are looking for apartments for sale in Muscat, whether for self-ownership or real estate ownership, you must review these conditions that must be met in order to be able to own, and these conditions are:
Self or personal ownership conditions:
• The buyer must possess a valid Iqama ID for a period of not less than two years.
• For foreigners to own property in Muscat for the purpose of housing, the buyer must be 23 years or older.
• The purpose of owning the property must be to live alone or with relatives, but only of the first degree.
Real estate ownership conditions:
• The building must be complete and conform to the plans approved by the municipality.
• The age of the building must be at least 4 years from the date of completion of the building.
• The height of the building must not be less than 4 floors.
• It is also required that the sold property consist of at least 2 rooms.
• In order to be able to own the property, the value of the property must be at least 45 thousand riyals.
• The foreign owner is not entitled to dispose of the property until after 4 years have passed, with the exception of foreigners whose official residency has expired.
• It is prohibited for the foreign owner to mortgage the property for any reason and it is considered against the law, except if the mortgage is for the purpose of completing the value of the property.
Real estate residency and the most important required documents.
Real estate residency is one of the best ways that help attract more investors to the country and help increase the investment movement and advancement in it, so many investors go to search for apartments for sale in Muscat, but before that it is necessary to see the most important conditions that must be met to obtain real estate residency In addition to some important documents that must be available.
Conditions for obtaining an investment visa for foreigners:
The Foreign Investment Law calculates that foreigners are entitled to obtain a visa to invest in Muscat, provided that the following conditions are met:
• It is required that the visa applicant inject funds into companies and investment projects that hold a work permit in Oman.
• The visa applicant must be 21 years or older.
• Obtaining investment approval approved by the Omani Ministry of Industry and Commerce, whether in the name of the foreign investor or the Omani partner.
necessary papers.
• These documents must be submitted in order to be able to obtain an investment visa in Muscat.
• Fill in the online visa application form.
• Print the application in Arabic for the Arabic investor and in the foreign language for the foreigner.
• Ratify the investment request from the partner or his representative.
• Two personal photos.
• A copy of the foreign investor's passport, provided that it is valid for at least 6 months.
• The original partnership contract between the foreign investor and the Omani, along with a copy thereof.
• A copy of the signing of the partnership form from the Ministry of Industry and Trade.
• A copy of the membership card from the Chamber of Commerce.
• A copy of the employment license from the Ministry of Labor.
• A copy of the commercial register.
• A health certificate from the Ministry of Health to prove safety from any disease.
• Fees amount to 50 Omani riyals.
Important advice for you Check it out before buying the property.
If you were able to find apartments for sale in Muscat and it was suitable for you, you should review these tips before making a purchase decision, as they will help you in making the right choice of property. These tips are:
• Determine your goal and the purpose of your purchase of the property, is it for housing or investment, or is it just a way to save money in the form of real estate, as each of them has a specific method, conditions, recipes and mechanism that must be taken into account during the purchase.
• Do not rush to choose the property and it is better to rely on experts in this field from real estate agents or brokers after making sure of their competence and reviewing their previous work.
• Make sure of the proofs and licenses of the real estate, and entrust this task to a specialized lawyer who will assure you of the validity of all documents related to the real estate.
• Experts always advise that buying a new and existing property is better than buying a property on a plan that has not finished construction yet, although buying within a project under construction contains many advantages such as installments, but in another aspect it carries many risks, unless you are sure of the financial stability of the project And also evidence from previous successful projects.
Frequently asked questions about apartments for sale in Muscat
Here we answer the most important and frequently asked questions for those who wish to own or invest and are looking for apartments for sale in Muscat.
Can a Syrian own property in Amman?
Yes, a Syrian has the right to own property in Amman and the same conditions imposed on any foreign investor apply to him, such as the right to mortgage and the right to dispose and use.
How long does it take to buy a house through the bank?
In order to be able to buy a house through the bank, you must first obtain approval for real estate financing in order to obtain the loan, and this step can be completed within 5 days, but this period varies according to the contracting bank and according to other details that may extend the period of obtaining On approval and loan.
What is the cost of investing in Oman?
In order to be able to invest in Oman, the value of your investments in companies and institutions that are subject to the Ministry must be at least RO 500,000.
Can foreigners buy a property in Oman?
Yes, they can buy a property, provided that some conditions are met, such as the usufruct period not exceeding 99 years, and that the owner’s age is more than 23 years, and also obtaining a residence permit or investment visa.
In this article, we have provided you with comprehensive details that you should know when searching for apartments for sale in Muscat, explaining all the important points on this subject.
If you want to see more information, you can browse our blog, in which we talk about the most important real estate information.
And to get more details and information, do not hesitate to contact us, as we at Skyline Real Estate Company are ready to provide all services and real estate consultations.
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