In efforts to encourage foreign investors and further activate the real estate industry, the government of Dubai has made it easier for new property owners in Dubai to obtain residency visas.
Important Things should consider before starting the Process
There are certain factors that you need to keep in mind, as far as obtaining the visas are concerned:
- The property value should be more than AED 1,000,000 or more (Purchase price and not necessarily the current market value)
- Investor Visas are only made available for freehold and residential properties
- Properties that offer residency visa includes: Residential and Serviced Apartments, Hotel Apartments, Villas & Townhouses, Offices & Warehouses
- Property types that do not offer any visa include disputed & leaded properties, land-plots, and off-plan.
- It is also possible for you to apply for a visa with a mortgaged property. However, it should meet the minimum investment amount of AED 1,000,000. Keep in mind to submit a NOC from the bank along with the application file.
- You are also eligible for a residency visa if you have multiple properties (more than 3) having a total value of AED 1 million or more.
- Having an investor visa does not necessarily entitle or give the right to work anywhere in the UAE
- In case, the property is bought as a joint venture with your spouse (husband & wife), then you do have the right to apply for an investor visa. However, you are then required to attach the marriage certificate, along with the application
The benefits of an Investor visa
- With this type of visa, you become a tax domicile of the UAE. This means that in most cases your investments and the profits made no longer require you to be taxed by your home country. This can be incredibly financially beneficial; however is it worth noting that this does depend on the regulations in your home country too.
- Once you have a visa, you will be able to open a bank account, get a local driving license, obtain an Etisalat or Du account for a mobile phone contract and will be issued an Emirates Identity Card.
- Title deed
- Passport copy
- Personal photograph
- Current residency or visa copy
- Good Conduct Certificate
- Health Insurance
The total cost falls in the range of- Dh13,000 - Dh15,500
- Charges for Police clearance letter: Dh220
- Administration fees: Dh420
- Cost of application: Dh3,000
- Typing & entry permit: Dh1,100
- DED license issue: Dh8,400
- Stamping/ Emirates ID /Medical: Dh2,490
We can take the stress out of the visa application by managing the whole process for you. With years of experience, we understand the system and can give the best advise on your options and move the application forward on your behalf.
Call or WhatsApp to our Consultant on +971568080092. You can also drop us an email at email@example.com