1. Does purchasing a digital deed token through Sanga give me actual ownership of the property ?
When you purchase a digital deed token through Sanga, you own a digital representation of the ownership rights to a specific property. This digital representation is stored on a blockchain, which is a secure and transparent way of tracking ownership. There will be a legal binding agreement that governs Sanga requires Sanga to hold the property on the digital deed owner behalf which gives the digital deed owner the right to redeem the title deed upon request. The digital deed owner also have effective rights to be the owner of such property, including the ability to seek income and to stay in such property, where any income generated from properties under Sanga SPV will be sent to the digital deed owner.] This digital representation model aims to simplify the process of property ownership and reduce the cost of transferring physical deeds. Please note that digital deed owner is responsible for any costs associated with the ownership of the property that occurs from ownership including but not limited to property tax and maintenance (subjected to the type of asset ownership) Benefits of digital deed ownership: https://www.sanga.group/why-digital-deeds
2. Is it possible for me to obtain the physical title deed for the property ?
The digital deed owner has the right to redeem the properties for ownership anytime they want to, by transferring the digital tokens back to Sanga. Sanga will then transfer the physical deed to you. To redeem a physical title deed, buyers must contact the Sanga team and make a redemption request. Redemption can be done at any time, but please note that transfer of the physical title deeds may be subject to taxes and other expenses according to the laws where real estate is located. After the physical title deed transfer process has been finalized, the corresponding digital deed token will be terminated.
3. Is there a tax obligation when purchasing or selling property ?
Purchasing and selling digital deeds on the Sanga platform, which is based in DMCC, where capital gain for sales of token are not subject to taxes like the rest of the United Arab Emirates (UAE). This means that buyers and sellers on Sanga platform do not have tax obligations in the United Arab of Emirates.
4. What is the cost of transfer fee ?
The transfer fee on Sanga platform is 0.5% paid by buyer and/or seller. This will depend on the arrangement made on Over-The-Counter (OTC) contract between buyer and seller.
5. Can the property be moved into immediately after it is purchased ?
Yes!!!, Since purchasing property is digital deed is like any other physical deed. You can moved in immediately after you purchased the property.
6. Can I trust Sanga SPV ?
Sanga DMCC is a legal entity responsible for holding and managing the assets that are being tokenized. SANGA DMCC is obliged by token deed agreement to maintain such asset for the digital deed owner. SANGA DMCC also engages independent third – party auditors to validate the asset existence and maintence of the title deed. In addition SANGA may engage a third – party custodian to maintain such property All transactions related to the digital deed tokens will be recorded and can be tracked using blockchain technology. Additionally, each digital deed token will be linked to the physical title deed of the property, which ensures that the token holder is the rightful owner of the property and can redeem their token for ownership right at any time.
7. What currency is used for Sanga’s transactions ?
Depending on the property's jurisdiction, for properties in Japan, we use JPY (Japanese Yen) as the currency. buyers can also transfer other acceptable fiat currency (THB, USD) but it will be converted to JPY. (The exchange rate and transfer fee will be charged to client.)
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