One of the most advanced places for commercial pursuits, not only in the Middle East but the planet as a whole, Dubai is undoubtedly an entrepreneur’s dream. The city once boomed with the revenue from oil is now a major hub for non-oil trade as well.
Where to Invest In Properties in Dubai?
There is certainly no shortage of class-leading and mind-blowing properties in Dubai to invest in. Say, for instance, the Palm Jumeirah in Dubai. In the same way, Dubai Marina also continues to remain another accessible location for investments in Dubai. World-class projects from developers like Emaar properties, and DAMAC properties, among others, are excellent options to invest in and start the Dubai property investor visa process.
Dubai Visa Through Property Ownership
It is essential to own or invest in property in Dubai to achieve the Dubai property visa. Speaking about obtaining a Dubai visa residency for property owners, some specific rules and regulations must be met before the visa can be processed. That means, simply owning a property in Dubai isn’t enough to expect a property visa in Dubai.
What are the types of property visas?
Generally, Dubai offers three types of property visas for investors- three years, five years, and ten years.
Three Years Property Investor Visa
Rules and regulations concerning properties in Dubai are all overseen by the Dubai Land Department Govt of Dubai. The same is also known as the Real Estate Regulatory Agency or RERA. Speaking about the three years Dubai Property Investor Visa Rules. In this case, the permit was issued for three years. The tenure is renewable with a nominal cost post the time limit has passed.
Condition for getting three years property visa
The concerned property against which the permit is issued must be strictly a residential property and not a commercial one. This goes for all the visa application conditions, irrespective of tenure, as long as you’re looking for Dubai Property Visa.
Furthermore, such properties, against which the visa is applying, must locate in areas that allow possessing freehold properties to foreigners. And the value of the property concerned could not be less than 1 million Dirhams.
If more than one buyer possesses the concerned property, each buyer must have a stake of a minimum of 1 million Dirhams.
Last but certainly not least essential condition is- the concerned property must be complete and shouldn’t be in an ‘under-construction status. In that case, it wouldn’t matter if the valuation of the under-construction property touches 1 million Dirhams. The visa will be only applicable to the completed features of the said minimum value.
Documents required for three, five, and ten years property visa
- Original passport
- Good conduct certificate from Dubai police
- Title deed
- Dewa bill
- Contract of the sale and purchase
- Current visa copy (any that is applicable)
- Passport-sized photograph of the owner
Five-Year Property Investor Visa
To qualify for the five years property investors visa in Dubai, you’ve got to possess a property value at 2 million (gross value) Dirhams and if not fully paid, it is subject to approval.
Ten Years Property Investor visa
To obtain Dubai ten years property investor visa, you’ve got two of the following, either or- property valued at not less than 10 Million Dirhams. Or company/ business owned by the investor valued not less than 10 million and audited by authorized UAE authority.
One can also obtain a ten years visa by partnering in business with shares valued at more than 10 million Dirhams. The other option is having an investment in all the verticles as mentioned above, similarly, value not less than 10 million Dirhams.
However, here is one condition- the investment in sectors other than real estate cannot be less than 60 percent of the total amount.
If you have a mortgaged property, can you get a property visa?
A very straightforward answer to this question is yes. However, there is bait. Mortgaged property owners are allowed the Property Visa in Dubai on certain conditions.
If the property against which the visa is applying is a mortgage. Then 50 percent of the valuation has to be paid off, or for that sake, Dh 1 million must return if the property values more than Dh 2 million.
There is another exception to this rule. If the bank from where the mortgage facility is taken gives you a NOC.
It is possible to proceed with the visa application.
Can an Iranian National Obtain a residence visa in Dubai?
Yes, In this case, Business link UAE can help the person obtain a Dubai residence visa.
In the same way, if you’re looking for a Libyan nationality visa in Dubai, the same rule applies. Also, people looking for a Syrian nationality visa in Dubai, and an Iraqi nationality visa in Dubai. To provide the prerequisite is met, we are here to assist you.
Get Excellent Dubai Property Visa Support With Business Link UAE
The Government of the UAE ensures all the processing related to visa applications is effortless and smooth. However, since more than one regulatory bodies are concerned about the different types of visa application, it is not possible to allow a one-step visa process. With Business Link UAE’s Dubai Investor Visa service, all you’ll do is let us know your plans.