How obtain a residency Visa as property investor in Dubai

Whilst the options available have changed a few times over the years, there are currently two options open to property investors who would like to live permanently in Dubai.

The two types of residency Visas currently available to property investors in Dubai are the Property Investor Visa and the Six-Months Residency Visa.

The Property Investor Visa is issued by the Dubai Land Department and is a two-year renewable Visa. This Visa enables you to become a UAE resident, obtaining an Emirates ID, UAE driving license and family sponsor as well. However, this Visa is only available for property investments in Dubai.

On the other hand, the Six-Months Residency Visa, more similar to a visitor Visa than a proper residence Visa, is issued by the relevant Immigration authority and is actually a six months multi-entry Visa, but can be renewed for as long as you meet the requirements. This Visa is available to those who purchase property in any of the seven Emirates, not just in Dubai.

The concerned property must meet certain requirements in order to qualify for these Visas.

The property must be valued at AED 1 million or more, based on the purchase price listed on the Title of Deed, rather than the current market value of the property when you apply for the Visa. For joint property ownership, the shared value must be equal or exceed AED 1 million. The property must be completed and the Title of Deed must be readily available in the name of the applicant. Visas are not granted for off-plan developments or properties still under construction. The property must be a residential freehold property in habitable conditions while commercial property investments do not qualify for these purposes.

Proof of minimum income (AED 10,000 per month or equivalent currency) is part of the requirements, which can be sourced from inside or outside the UAE. Also in-country medical examination will be required.

Once the requirements listed above are duly fulfilled, will be possible therefore to approach the Dubai Land Department or the relevant Immigration authority, depending on which Visa you have chosen to apply for.

The Six-Month Residency Visa overall costs are approximately AED 2,300 – 2,500, while the Property Investor Visa overall costs are considerably higher at approximately AED 13,000 – 15,000.

No Visa options will enable you to obtain citizenship to the UAE, and these Visas are for residency purposes only and to undertake employment will not be permitted as well.

Whilst there is no maximum term for either Visas (providing Visas are duly renewed upon the due term), if you are granted with the Property Investor Visa, is not allowed to spend more than six consecutive months outside of Dubai, otherwise the Visa will be automatically withdrawn.

Are you now interested about the current availability of properties eligible to apply for a residency Visa in Dubai or other Emirates? Contact us!

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