Women Making Smart Investments
Investing in property is no longer solely a man's domain; women all over the world are becoming more and more active in investing - they are taking control and ensuring their long-term financial security. However, for those starting out on their investment journey, it is not always obvious where or how to invest, especially in today's turbulent market. On 3rd April 2017 our Managing Partner, Zarah Evans, was one of the diverse women on the panel ready to answer questions and help you to understand the fundamentals of investing. The all-female audience was brought together by IP Global and were first-time investors, professional women with the finances to invest and women who wanted more general knowledge on the world of investment.
Some Questions that were raised were:
What are the general percentages of women as property investors?
I am unsure of the exact percentage but the trend for women to invest and own property is rising. With any property investment, there is an element of risk and women are more likely to turn away from suggestion of risk, preferring instead the more old-fashioned form of protecting their wealth - in the bank. This is obviously very much dependent on their salary income and risk appetite. In saying that women relate more with investment in property than other investment avenues like stock and shares.
How, for expat women, is investing in property here different from investing in their home country?
The actual opportunity and ability for women to invest in property here in Dubai is no different to men. Policies and procedures can very much vary from country to country as can the costs associated with buying and selling property. The most important consideration for women buying property here in Dubai is the ongoing protection of that asset. When purchasing real estate in the UAE, it is always suggested to try to do so through a jointly owned foreign company. A lawyer can give sound advice on this together with clarity on the UAE inheritance laws. Protect yourself with a Will registered at the DIFC Wills and Probate Registry which is designed to ensure non-muslims, who have assets here in Dubai, can bypass Sharia law when it comes to succession and inheritance.
What are the new legal changes, regarding property, to keep in mind?
When buying property in Dubai, ensure that the title deed accurately designates the correct percentage split in ownership. If you are buying a property with your husband in joint names the split will show 50% to both names on the title deed. I think most of the more recent legal changes to property have affected the brokers in the industry rather than the owners themselves. However, they are introduced for the betterment of the industry and further protection for property owners. These laws involve the correct appointment of brokerage firms, correct instruction being carried out by these firms and tighter control on property ownership papers in circulation.
http://www.thenational.ae/business/personal-finance/women-take-financial-control
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