“We earn very well — but for German banks that suddenly seems to count for nothing.”
Mr M. said this sentence right at the start of the advisory meeting.
Information
For six years he had lived with his family in Dubai. He worked as a senior project manager at an international technology group, and his wife was employed as a human-resources manager at a globally active company.
Together they earned an income far above average.
Even so, two financing enquiries had already failed.
Not because of their creditworthiness.
Not because of a lack of equity.
But because of their residence outside Europe.
Why the family wanted to invest in Germany
Although the family felt at home in Dubai, it was clear to them that Germany should remain an important part of their asset planning long-term.
The plan was to buy a high-quality flat in Munich.
The flat was to be let at first and possibly used by themselves later.
The key figures:
- Purchase price: 785,000 euros
- Equity: 255,000 euros
- Financing required: 595,000 euros
The financing was solidly calculated.
Even so, the first meetings with banks were sobering.
Why Dubai makes many banks cautious
Financings for clients living in the United Arab Emirates differ from classic domestic business.
Among other things, many banks review:
- tax residence
- residence status
- employment contract
- duration of the overseas assignment
- asset structure
- return perspective
- anti-money-laundering and compliance requirements
Some institutions therefore forgo financings for clients outside Europe entirely.
Others, by contrast, have clear processes and many years of experience.
The analysis
Even at the first review it became clear that the economic conditions were excellent.
Both employments had existed for several years.
The income was regular and secured long-term.
In addition, the family had considerable reserves as well as further investments.
The planned property was in a very good Munich residential location with stable demand.
So the real challenge did not lie in creditworthiness.
It consisted solely of finding a bank whose lending guidelines expressly allow international matters.
The preparation
International financings often require considerably more comprehensive documentation.
All the documents were therefore prepared carefully.
Among them:
- employment contracts
- income statements
- an asset overview
- bank statements
- proof of equity
- property documents
- an explanation of the personal asset strategy
This allowed the bank's follow-up questions to be answered before the actual credit review.
The financing
After selecting a suitable financing partner, processing was much more structured.
The bank was familiar with comparable cases and could assess the documents without fundamental follow-up questions.
The financing commitment was in place just a few weeks later.
The purchase of the Munich flat could take place as planned.
The property was let successfully immediately after handover.
Why this case is typical
German specialists and executives in Dubai often have excellent incomes.
Nevertheless, many initially experience several rejections.
Not because their economic situation is problematic.
But because international financings lie outside some banks' standard processes.
Anyone who selects the right financing partners avoids unnecessary rejections and often saves several months of processing time.
What other Germans in Dubai can learn from this
A residence in the United Arab Emirates by no means rules out a property financing in Germany.
What is decisive is complete documentation of the income and asset situation as well as the selection of banks that regularly handle international financings.
For long-term asset strategies in particular, Germany remains an attractive property location for many Germans abroad.
Frequently asked questions
Can Germans living in Dubai finance property in Germany?
Is the tax-free income in Dubai a problem?
Is more equity required?
Does a return to Germany have to be planned?
Does processing take longer?
Conclusion
This case shows that even a residence outside Europe does not rule out a property financing in Germany.
Anyone who documents international income situations professionally and specifically selects banks with the relevant experience can successfully invest in German property from Dubai too.
It is not the place of residence that decides the financing.
What is decisive is creditworthiness, asset structure and the choice of the right financing partner.
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