If you’re considering acquiring property in Dubai as a non-resident or expatriate, you’ll be pleased to know that Dubai, a prime investment hub, provides multiple avenues to do so. Once you’ve familiarized yourself with the real estate market regulations and met the necessary requirements, such as holding a valid passport and securing a UAE property visa, you’ll be well on your way to realizing your property ownership dreams.
An investor or potential property buyer has the option to request a property investor visa in the UAE.
Procedure for Obtaining a UAE Property Visa
Step 1: Initiate the process by visiting the immigration department, a typing center, or a Tasheel center to secure an entry permit.
Step 2: Undergo a medical fitness test at any government health center. When completing the entry permit form, indicate the health center you plan to visit for this purpose.
Step 3: If applicable, the Emirates ID application will be processed by the Amer Centre. When submitting the application, ensure you bring your original Emirates ID, family photographs, and Emirates ID applications for family members. If you’ve never applied for an Emirates ID, you’ll need to provide biometric data along with the application.
Step 4: As part of your visa application, you are required to purchase health insurance. Explore the options offered by various health insurance companies in Dubai to select one that suits your needs.
Step 5: To secure an investor residence visa in Dubai, make a visit to one of the Amer centers situated across the city. Amer centers can be found in Al Jafiliya, Al Twar, Dubai Festival City, and Al Quoz.
Types of UAE Property Investor Visas
Property visas are typically granted to investors and property buyers. To be eligible for this visa, one must make an investment in any freehold property in Dubai. The buyer must renew the visa as required to maintain property ownership throughout its duration.
Requirements for a Property Investor Visa in the UAE
To be eligible for a property investor visa in the UAE, you need to meet certain criteria:
- Monthly Income: You must have a monthly income of at least AED 10,000 or the equivalent in foreign currency.
- Health Insurance: Health insurance is a requirement for the visa application.
- Sufficient Accommodation: The property you invest in must have adequate living space for family members.
- Property Ownership: You must be the legal owner of the property.
- Property Type: The property should be either an apartment or a villa.
- Freehold Area: The property must be located in a freehold area, where foreigners are permitted to own properties.
- Minimum Property Value: The current value of the property must be at least AED 1 million.
- Mortgage Conditions: If the property is mortgaged, ensure that at least 50% of the property value has been paid.
- Title Deed Verification: Dubai Title deed verification is mandatory (issued by DLD – Dubai Land Department).
Rules and Regulations for UAE Property Visa Application
When applying for a UAE property residence visa, there are specific rules and regulations to keep in mind:
- Property Type: The UAE property residence visa can only be obtained for freehold and residential properties.
- Minimum Property Value: The property must be valued at 1 million AED or higher.
- Mortgaged Property: A UAE property visa can be obtained for a mortgaged property, provided the applicant meets the necessary investment requirements and submits a no objection certificate (NOC) from the bank as part of their application.
- Multiple Property Ownership: An applicant who owns multiple properties with a combined value of 1 million AED or more may apply for a property visa in the UAE if they are approved.
- Real Estate Visa for Multiple Properties: An individual may qualify for a real estate visa with multiple properties that have a combined value of 1 million Dirhams (subject to approval).
- Emirates ID: It is possible to apply for and obtain an Emirates ID.
- Residency Requirement: Holders of the visa are prohibited from spending a full year (365 days) outside the UAE.
- Minimum Monthly Income: Applicants must submit evidence of an income of at least 10,000 AED per month.
Benefits of Having a UAE Property Visa
Holding a property visa in the UAE offers various benefits, including:
No Requirement for a Local Sponsor.
The ability to stay in the UAE for the duration of the visa’s validity, with ease of travel in and out of the country.
Eligibility to apply for a driver’s license in the UAE.
The ability to open bank accounts and access financial services in the UAE.
The potential for visa-free travel to many countries, under certain conditions.
The ability to sponsor family members and dependents.
The option to renew your 3-year or 5-year visa if you decide to extend your investment ownership.
Requirements for Ten Years Visa or Golden Visa
To be eligible for a Ten Years Visa or Golden Visa, the following requirements must be met:
Ownership of a ready property in the UAE with a minimum value of 2 million Dirhams.
Title deeds owners can apply for a Golden residence visa application if the market value exceeds 2 million, and an official evaluation certificate is mandatory.
Joint ownership of a title deed with partners is acceptable, with the applicant’s share being a minimum of 2 million.
If the property is mortgaged or on an installment plan, an NOC from the bank is required, showing the total paid-up amount and remaining amount. The bank or developer must be paid at least 1 million AED of the property’s worth.
If the property is mortgaged by the developer, a copy of the initial sale certificate with a payment statement is required.
Husband and wife can participate in one property.
Benefits of a Golden Visa
Holders of the Golden Visa enjoy various benefits, including:
Sponsorship of family for the same 10-year period.
Sponsorship of children up to 30 years of age for boys and unmarried daughters with no age limit.
Sponsorship of parents or parents-in-law for a 10-year visa.
No limit on extended stay outside the UAE.
Permission for Dubai investor visa holders to reside and work in Dubai, UAE.
Low crime rates.
Requirements for Retirement Visa or Five Years Visa
To be eligible for a Retirement Visa or Five Years Visa, the following requirements must be met:
Ownership of a ready property in the UAE with a purchase price of AED 1 million or more.
Title deeds owners can apply for a retirement visa application if the market value exceeds 1 million, and an official evaluation certificate is mandatory.
Joint ownership of a title deed with partners is acceptable, with the applicant’s share being a minimum of 1 million.
The age of the applicant must be 55 years or older.
This visa provides 5 years of UAE residency and can be renewed after the renewal period, subject to set criteria.
Requirements for Two Years Investor Visa
To be eligible for a Two Years Investor Visa, the following requirements must be met:
Ownership of a ready property in the UAE with a minimum value of AED 750,000.
If the property is mortgaged, an NOC from the bank is required, showing the total paid amount and remaining amount.
If the property is mortgaged by the developer, a copy of the initial sale certificate is required.
If the property is completed and not under construction, a payment statement with proof of payment for 50% of the entire property value or AED 375,000 is required.
A certificate of good conduct and behavior issued by Dubai Police addressed to the Dubai Land Department is a compulsory requirement for this category.
