The Dubai Property Visa is a once-in-a-lifetime opportunity. No one has seen it, but everyone has heard about it. In this article, we'll go over all there is to know about this visa. For business people and their families, there are two ways to obtain a resident visa in Dubai: by purchasing real estate or by registering a company.
In earlier issues, we have explained the types and advantages of residency visas. The article discusses the steps in applying for a property visa in Dubai, the types of properties that are required, the validity of the visa, and the advantages and disadvantages of obtaining a residency visa over that of a company registration visa.
The information you'll find here isn't theoretical knowledge about Dubai's property visa procedure but rather what I've learned from helping scores of investors with their UAE investor visas by purchasing real estate in Dubai.
First and foremost, the property should be a residential property rather than a commercial one. You can only receive a residency visa if you have a residential property. This form of property can only be purchased in places where foreigners are permitted to possess freehold property.
The purchasing price of the property must be at least 1 million Dirhams. If multiple buyers purchase a unit, each buyer's portion must be worth at least 1 million Dirhams.
A significant modification to this statute was made in 2019. Before now, this was only relevant to one property with a specified minimum value, but it is now applicable to two properties.
Furthermore, obtaining a residency visa in the UAE is now feasible by purchasing an office or other commercial property in Dubai — while purchasing such a property, you can also receive a residency visa in the UAE. A property's construction must be completed. Units that are still under construction do not offer the right to get a resident visa until the construction is done, regardless of their final worth.
Dubai Property Visa documents are the same whether for a three-year or a six-month visa. However, some criteria are slightly different; therefore, I will list the required documents separately.
It's similar to a tourist visa but with a lot more privileges. For a change, it allows the holder to make several entries for six months. The visa is also valid for any property valued more than AED 1 million and may be used in any of the seven Emirates. The visa is issued by the appropriate immigration authorities and has nothing to do with the Dubai Land Department (DLD).
This visa is generally provided by the Dubai Land Department to those who wish to purchase or invest in a property valued more than AED 1 million in Dubai. As a result, you are regarded qualified to become a UAE resident and enjoy several privileges such as an Emirates ID, a driving license, and family sponsorship. The visa typically costs between AED DH 13,000 and AED DH 15,000 and is valid for three years. Those holding a three-year visa can also sponsor their relatives and dependents. Additionally, this visa does not allow you to stay outside the country for more than six months at a time.
This visa is easy to procure if you have invested over AED 5 million into a property. In this case, you are eligible for a five-year resident visa. However, there are certain conditions you need to keep in mind. For example, you cannot obtain any loans or financing to purchase the property, and you have to retain the property for at least 3 years.
This visa is for those who are investing more than AED 10 million, from which a minimum of 40% is invested in properties and the other 60% in any other public sector.
There is, however, a need for ample proof that the amount invested is not financed or loaned and that you will keep it for three years. Being an investor with a 10-year visa will include an executive director and an advisor apart from family members and dependents.
There are certain things that you need to keep in mind while obtaining a property visa in Dubai:
As we all know Dubai is the safest place to make any kind of investment as well as a place you will love to call home. To apply for Residence Visa in Dubai, all you have to do is follow the steps mentioned above. The lifestyle in Dubai makes you think that you live in a movie full of adventure and luxury. Find your perfect place and claim it as your home. Happy Hunting!
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