How You Can Get Dubai Residency With Property Investment
Dubai is a city of dreams – a place where everyone wishes to live in. Getting a Dubai Residency Visa is a dream of many Dubai fanatics and with property investment; this dream can easily be fulfilled.
Dubai is not only a great place to live in but also an ideal location for business and property investment. Investors from all around the world consider Dubai as a profitable city to invest in. Those expats looking to make Dubai their permanent home, investing in Dubai’s real estate industry is the way to go as it offers the option to obtain a residency visa plus great return on investment.
Here’s how you can make Dubai your permanent home with property investment:
Get To Know the Types of Visas Available For Property Investors in Dubai
Before proceeding with anything else, you should first know the types of visas available. There are basically two types of visas that property owners in Dubai can apply for:
Property Investor Visa: Issued by the Dubai Land Department, Property Investor Visa is a 3-year renewable visa with which you can become a UAE resident and apply for an Emirates ID, UAE driving license and also sponsor your family as well. This visa can only be obtained by property investors who invest in Dubai properties only.
Note: Dubai Government has announced that five years residence visa on Dubai property investment is going to be implemented soon. The expats who will have Dubai property worth more than 5 Million AED, will be able to get 5 years Dubai residence visa. Now people with Iranian, Iraqi and Syrian nationalities are also eligible to get Dubai residence visa only by investing in Dubai property. To know more about where and how to get residence visa in Dubai for Iraqi, Iranian and Syrian nationals, contact Business Link UAE as we are assisting with complete visa processes for these nationalities as well as other national peoples.
Six Month Residency Visa: Issued by the relevant immigration authority, the residency visa is a six-month multiple entry visitor visas that allow multiple entries to the UAE. One major benefit of this six-month residency visa is that it applies to property investment in all the seven emirates.
Know the Requirements
One thing you need to be aware of is that getting a Dubai residency visa doesn’t apply to all property purchases. Both the property owner visa and six-month residency visa can be obtained only if the property value is equal to Dh 1 million or more.
When applying for the visa, the current property value doesn’t make any difference – the value on the title deed must equal to at-least Dh 1 million or more.
Invest In Freehold Ready-Made Properties
Another thing to note is that the property residence visas cannot be obtained on off-plan property purchases and only apply to freehold readymade property purchases. So if you’re investing with the aim of obtaining a residency visa, make sure you purchase a freehold readymade property.
Make Sure It’s A Residential Property – Not a Commercial One
If you’re investing in Dubai property with the purpose of obtaining a residency visa, make sure that you choose a residential property as commercial property owners are not eligible to apply for a residency visa. Another thing to note is that the property must be habitable and should be in good condition for someone to live in.
Make Sure Your Monthly Income Is At least Equal to AED 10k
For you to be eligible for a Dubai property residence visa, your monthly income (whether earned within UAE or outside UAE) should be equal to or more than 10,000 AED.
Documents You Must Submit
Finally, if you have checked all the boxes above – it’s now important for you to know the documents required to start the process.
Following are the documents you need to start your property residence visa stamping process in Dubai:
- Title Deed on the property
- Passport copy of the applicant
- Current visa status/copy
- Passport photos (x6)
- Certificate of Good Conduct (from Dubai Police)
- Bank Statements
- Utility Bill
The residence visa procedure in UAE is quite streamlined but for those who are new to UAE, it might be a bit difficult for them to take note of everything and complete the requirements in a timely and an efficient manner. To make property visa stamping as well as sponsoring your family residence visa in Dubai more easier, its recommended to team up with a professional business consultancy firm, like the Business Link UAE, as we have highly experienced and professional business and property visa consultants who are ready to help you with each step of your property investor visa process and getting approvals from different legal authorities like Dubai Land Department, relevant immigration authority and many more.
Also, you can read here for detailed Dubai Property Residence Visa Procedures