Case study: Crypto-key to real estate: how we helped a client purchase a home in Dubai with digital assets
Today, cryptocurrency is not only an investment tool, but also a convenient means for real transactions. Especially in countries where technology and innovation are not just supported, but are actively introduced into the real estate sector. The UAE is one of such jurisdictions. In this case study, we will tell you how we helped our client to buy a property in Dubai for cryptocurrency, formalising everything in accordance with local legislation and ensuring the transparency of the transaction.
Background
Our client is an entrepreneur in the field of blockchain solutions and decentralised services. Over the past few years, he has successfully developed projects in Europe and Asia. As a result, he has accumulated a substantial crypto portfolio, which he wanted to partially use to diversify his assets - in particular, to invest in real estate.
He considered several jurisdictions, but chose the UAE, a country with a stable economy, an attractive investment climate and a loyal attitude to cryptocurrency.
Situation analysis
It was important for the client to:
Acquire real estate without converting cryptocurrency into fiat;
Conduct the transaction officially, without the risk of blocking or claims from regulators;
Choose an object with the potential for growth in value;
Obtain a tax-favourable status in the country.
It was also important that the client planned to use the property in the future not only as an investment, but also as a place to live and work in the UAE.
Our actions
Suggesting options of buying with cryptocurrency: we provided a detailed overview of the legal nuances and options for cryptocurrency transactions in the Emirates, explained how to legally conduct the transaction and which property developers or agents deal with digital assets.
Finding and selecting a property: offered the client several investment-attractive properties in the Dubai market, with high yields and growth prospects. The client chose apartments in Business Bay, a sought-after and actively developing neighbourhood.
Arranging the transaction through a partner payment service: we engaged a reliable crypto-acquirer working in accordance with the laws of the UAE to carry out the transaction. The client's cryptocurrency was exchanged into dirhams and sent to the developer directly - without intermediaries and risks.
Providing legal support: we ensured verification of the contract, title to the property and participated in negotiations with the developer's representatives.
Outcome
The client became the owner of a liquid property in the centre of Dubai, paying directly with cryptocurrency through a legally secure mechanism. The transaction was official, with all documents and property registration.
Testimonial
"I was looking for options on how to invest in property without converting crypto into fiat - and to do it legally, without any murky schemes. Frankly speaking, it would have taken me a long time to understand how it all works in the UAE. The guys immediately offered a clear scenario, explained with whom and how to conduct the transaction safely, and picked a cool option in Dubai. Everything went smoothly: the object was formalised, and the crypto went away without any unnecessary movements. Professional, fast, with full transparency. I am very pleased that I didn't have to do everything myself and reinvent the wheel."
Takeaways
The transaction to acquire real estate for cryptocurrency was successfully legalised and conducted in full compliance with UAE legislation.
Our client received a liquid asset with the possibility of further capitalisation, as well as a reliable basis for potential relocation to the region. The total project realisation period was approximately 6 weeks.