Al Marjan Island Property, Ras Al Khaimah, for Australians
Dubai and UAE property › Al Marjan Island
Ras Al Khaimah, UAE

Al Marjan Island
apartments rose
9.4% in a year. Ras Al Khaimah, not Dubai, and the UAE's next growth story.

Al Marjan Island sits off the coast of Ras Al Khaimah, the UAE's northernmost emirate. Its apartments led the emirate over the past year, and Wynn's resort on the island opens in September 2027. Freehold for Australians, no UAE tax on rent or on sale, and a Golden Visa from AED 2 million.

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9.4%
Marjan Apartment Growth, 12 Months
2027
Wynn Resort Opens, September
1.35M
RAK Visitors in 2025, a Record
10yr
Golden Visa from AED 2M
The Case for Al Marjan Island

Six reasons the island
is on investors' radar.

Al Marjan Island is a group of man-made islands off the coast of Ras Al Khaimah, a separate emirate of the UAE, north of Dubai along the same coast. It is a designated freehold area, so Australians can own outright, and it has led the emirate's apartment market over the past year.

01

Ras Al Khaimah's Growth Leader

Apartment values on Al Marjan Island rose 9.4% in the year to June 2026, the strongest of the areas ValuStrat tracks in Ras Al Khaimah. The emirate as a whole rose 5.4% (source: ValuStrat, Q2 2026).

02

The Wynn Arrives in 2027

Wynn Al Marjan Island holds the first commercial gaming facility licence in the UAE and opens in September 2027, with 1,542 rooms and suites (source: Wynn Resorts).

03

Rent Above Australia's Average

Ras Al Khaimah's freehold apartments and villas both averaged a 5.3% gross yield (source: ValuStrat, Q2 2026). Australian apartments averaged 4.7% and houses 3.6% (source: Cotality, September 2026).

04

No UAE Tax on Rent or Sale

The UAE charges no income tax on rent, no capital gains tax and no annual land tax. As an Australian tax resident you declare both at home, see how it works.

05

Freehold for Australians

Al Marjan Island is one of Ras Al Khaimah's designated freehold areas, so you can own outright in your own name, with no local partner (source: RAK Municipality, July 2026).

06

Half Dubai's Transfer Fee

The buyer pays a 2% transfer fee in Ras Al Khaimah (source: RAK Municipality, July 2026), against 4% in Dubai. More of your capital goes into the property itself.

The Wynn Effect

The resort putting
Ras Al Khaimah on the map.

  • Opening September 2027. Confirmed by Wynn's chief executive with the company's second quarter results on 5 August 2026.
  • 1,542 rooms and suites, including 22 private villas, with 22 restaurants, lounges and bars, a theatre, a spa and a shopping esplanade (source: Wynn Resorts).
  • Licensed by the UAE. The General Commercial Gaming Regulatory Authority issued the first commercial gaming facility licence in the UAE to Wynn Al Marjan Island on 4 October 2024 (source: Wynn Resorts).
  • Tourism at a record. Ras Al Khaimah welcomed 1.35 million overnight visitors in 2025, up 6%, and is aiming for more than 3.5 million by 2030 (source: Ras Al Khaimah Tourism Development Authority, January 2026).
  • Demand near the island. Valuer Cavendish Maxwell calls the resort a key medium-term demand catalyst, with extra housing demand expected particularly in communities close to Al Marjan Island (source: Cavendish Maxwell, September 2026).
Run the Numbers →
Artist's impression of Wynn Al Marjan Island, a tall resort tower on a man-made island with a marina, Ras Al Khaimah
Artist's impression of Wynn Al Marjan Island. Image: Wynn Resorts, CC BY 4.0.
The Tax Advantage

What Australian property
costs you that the UAE doesn't.

A side by side look at the recurring costs and exit taxes Australian investors accept at home, and what Ras Al Khaimah charges instead.

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Investor Cost Comparison
Cost
Australia
UAE (RAK)
Capital Gains Tax
~23.5%
0%
Rental Income Tax
up to 45%
0%
Annual Land Tax
varies
0%
Stamp Duty / Transfer Fee
~5.5%
2%

Australian tax residents still pay Australian tax on UAE rent and gains, see below.

The Real Comparison

Your investment, two markets.

Move the sliders. See what your capital could do in Australia versus Ras Al Khaimah across a 10 year hold, net of taxes, fees and vacancy.

Your Investment Amount
$1,200,000 AUD
≈ AED 2,880,000
$500K $1M $1.5M $2M $2.5M $3M

Your assumption. We use the same rate for both, so the difference comes from rent and tax only.

Australia · AU

Status quo, at home.

Gross rental yield (apartments) 4.7%
Annual gross rent $56,400
After tax & expenses $32,689
10 year capital growth (4%) $576,293
Less CGT on exit −$135,429
10 year net wealth $767,759
Ras Al Khaimah · UAE

Same capital, higher rent.

Gross rental yield (RAK average) 5.3%
Annual gross rent $63,600
After expenses & Australian tax $34,058
10 year capital growth (4%) $576,293
Less Australian CGT on exit −$135,429
10 year net wealth $781,442
Difference over 10 years
+$13,684 in Ras Al Khaimah's favour
Higher rent on the same capital, after Australian tax on both. Choose "I'm moving to the UAE" to see the result without it.
How we calculated this
Australia assumptions: 4.7% gross yield, the national apartment average (Cotality Home Value Index, September 2026). After 8% vacancy and management, and 37% marginal income tax on net rent. Exit CGT at 23.5% (50% discount × 47% top marginal rate, simplified).

Ras Al Khaimah assumptions: 5.3% gross yield, the Ras Al Khaimah freehold average for apartments and villas (ValuStrat Price Index, Q2 2026). ValuStrat does not publish a separate Al Marjan Island yield, so we use the emirate's average rather than a Dubai or developer figure. After 15% service charges and management. As an Australian tax resident you pay the same Australian tax as on Australian property: 37% on net rent, and exit CGT at 23.5% (no UAE tax applies). Choose "I'm moving to the UAE" and the Ras Al Khaimah side carries no tax at all, which assumes you stop being an Australian tax resident before you buy. The Australian side is left as it is, although a non-resident would in fact pay more Australian tax on Australian property, not less. AUD to AED conversion at 2.4.

Capital growth: the rate you choose, applied to both markets. Al Marjan Island apartments rose 9.4% in the year to June 2026, but one strong year is not a long-run rate, so we don't assume either market grows faster.

Important: Figures are illustrative only. Actual returns vary by property, area, market conditions and your personal tax situation. This is not financial advice. Speak with us for a tailored projection.

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We'll send you a personalised breakdown of your Australia vs Ras Al Khaimah numbers, plus a recommended starting strategy based on your investment amount.

By the Numbers

An emirate on the move.

9.4%
Rise in Al Marjan Island apartment values, year to June 2026 (source: ValuStrat)
5.4%
Rise in Ras Al Khaimah residential values over the same year (source: ValuStrat)
1.35M
Overnight visitors to Ras Al Khaimah in 2025, a record (source: RAK Tourism Development Authority)
3.5M+
Visitors a year Ras Al Khaimah is aiming for by 2030 (source: RAK Tourism Development Authority)
1,542
Rooms and suites at Wynn Al Marjan Island (source: Wynn Resorts)
2%
Buyer's transfer fee in Ras Al Khaimah (source: RAK Municipality)
Where Values Are Rising

Al Marjan Island
leads the emirate.

ValuStrat tracks values across Ras Al Khaimah's main freehold communities. Over the year to June 2026, Al Marjan Island apartments came out on top.

Al Marjan IslandApartments
+9.4%
Al HamraVillas
+6.2%
Al HamraApartments
+3.5%
Mina Al ArabVillas
+3.0%
Mina Al ArabApartments
+2.3%
Ras Al KhaimahAll freehold homes
+5.4%

Annual change in capital values, year to June 2026. Source: ValuStrat Price Index, Ras Al Khaimah Residential, Q2 2026.

The Process

How an Australian actually buys.

The whole purchase can be run from Australia. You do not need to fly over. This is the sequence, in order.

01

Pick the property and the path

Choose a home inside a freehold area such as Al Marjan Island, then decide off-plan or ready. Off-plan is the low-deposit path on a developer payment plan. Ready gives you rent straight away.

02

Reserve

Off-plan, a booking form and deposit secure the unit on the developer's payment plan. Ready, you sign a sale agreement and pay a deposit into a trust account.

03

Check it properly

Confirm the project and the developer are registered with the Ras Al Khaimah authorities, ask for proof that off-plan payments go into the project's escrow account, and on a resale check the title, any mortgage and any unpaid service charges.

04

Power of attorney

Buying remotely, you appoint a representative through a notarised, attested power of attorney. This is how most Australians buy without travelling.

05

Transfer and title

Ownership is registered with Ras Al Khaimah's land registry. The buyer pays 2% of the market value, plus AED 200 for the title deed (source: RAK Municipality, July 2026). Off-plan, the title deed issues at handover.

06

After settlement

Appoint a licensed property manager to find tenants and collect rent, and if your holding reaches AED 2 million, apply for the Golden Visa.

Funds move through escrow and trust accounts, never cash. Non-resident lending from UAE banks exists but is conservative, so most Australians buying off-plan simply run the developer's payment plan and treat the purchase as cash funded.

Cost Stack

What it actually costs to buy.

These are the government and third-party costs, separate from any adviser fee.

Transfer feePaid by the buyer
2%
Title deed issue
AED 200
Agent commissionResale purchases
Varies
Mortgage registrationOnly if financing
Varies
Conveyancing and power of attorneyProvider dependent
Varies
Dubai, for comparisonDubai Land Department transfer fee
4%

Transfer and title deed fees: RAK Municipality, July 2026. Ongoing, budget for property management and the building's annual service charges.

Australian Tax

No UAE tax does not mean no tax for you.

As an Australian tax resident you are taxed on worldwide income, so rent from Al Marjan Island and any eventual gain are assessable here, whatever the UAE charges.

01

Rental income

Declare gross rent in AUD, converted at the rate when it was received. You can claim the usual deductions: loan interest, management fees, repairs, insurance, and capital works at 2.5% a year where eligible. Australian depreciation rules apply and differ from what a UAE agent may quote.

02

Losses are not quarantined

A net rental loss can be offset against your other Australian income. Foreign property losses are not quarantined, which is worth modelling properly before you buy.

03

The Foreign Income Tax Offset gives you nothing

FITO only credits foreign tax you have actually paid. Because the UAE levies no income tax, there is nothing to offset, and you pay Australian tax on the net rent at your marginal rate.

04

CGT on sale, in Australian dollars

CGT applies as it would to any investment asset. Convert both the purchase and the sale price to AUD, because currency movement alone can create or erase a gain. An Australian resident individual holding more than 12 months generally gets the 50% discount.

The FITO interaction and the AUD conversion are the two things investors get wrong, and where a registered tax agent with foreign-asset experience earns their fee. General information only, and not tax advice for your circumstances.

UAE Golden Visa

Buy property. Earn residency.

Own AED 2 million of property in Ras Al Khaimah, about AUD 830,000, and you can qualify for the UAE's 10 year Golden Visa, with your spouse and children sponsored and no need to move. Off-plan counts when it is bought from an approved developer with proof of payment, and the property can be mortgaged through an approved UAE bank (source: Federal Authority for Identity, Citizenship, Customs and Port Security).

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Common Questions

What Australians ask before they buy.

Straight answers to the questions we hear most about Al Marjan Island.

Is Al Marjan Island in Dubai?+
No. Al Marjan Island is in Ras Al Khaimah, a separate emirate of the United Arab Emirates, north of Dubai along the same coast. It shares the UAE's federal rules, including the Golden Visa and no income tax, but has its own land registry and its own fees. We cover it alongside Dubai because both are UAE markets.
Can Australians buy on Al Marjan Island?+
Yes. Al Marjan Island is one of Ras Al Khaimah's designated freehold areas, alongside Al Hamra Village, Mina Al Arab and RAK Central, so you can own outright in your own name (source: RAK Municipality, July 2026).
When does the Wynn resort open?+
September 2027. Wynn's chief executive confirmed the date with the company's second quarter results on 5 August 2026.
What rental yield can I expect?+
Ras Al Khaimah's freehold apartments and villas both averaged a 5.3% gross yield in the second quarter of 2026 (source: ValuStrat). ValuStrat does not publish a separate Al Marjan Island yield, so we quote the emirate's average rather than a Dubai or developer figure. Australian apartments averaged 4.7% and houses 3.6% (source: Cotality, September 2026).
Will I still have to pay tax in Australia?+
Yes. Australian tax residents are taxed on worldwide income, so the rent and any eventual gain are assessable here. Because the UAE levies no income tax, the Foreign Income Tax Offset gives you nothing to claim, so net rent is taxed at your marginal rate. The 50% CGT discount generally applies after 12 months.
How is buying here different from buying in Dubai?+
The steps are similar, but the transfer runs through Ras Al Khaimah's land registry rather than the Dubai Land Department, and the buyer's transfer fee is 2% rather than 4%. Golden Visa rules are federal, so the AED 2 million threshold is the same.
Who manages the property while I'm in Australia?+
Elite Wealth Creators works with property managers in the UAE who handle tenants, rent collection and maintenance, so you can run the investment from Australia.
Next Step

Own on Al Marjan Island
from Australia.

Book a free 30 minute strategy call with an Elite Wealth Creators consultant. We'll walk through current opportunities in Ras Al Khaimah, run the AUD numbers and answer every question, with no obligation.

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