Relocating foreign talent to Dubai usually involves applying for a residence visa. As the employer, this task falls on your shoulders.
You can either manage the visa process yourself or outsource it to a PRO service provider like Business Link. Using a provider is the better option if you lack the in-house expertise to support the application or feel you’d benefit from extra guidance.
In our previous published articles, we came across different types of visas in Dubai. In this blog, let’s discover the main features and requirements for Dubai residence visa that obtained via property investment.
Read Also: How To Start A Real Estate Business in Dubai
Property Investment 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 Residence 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 residence visa 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 investment visas?
Generally, Dubai offers three types of property visas for investors:
three years, five years, and ten years.
Three-Year Property Investor Visa
Rules and regulations concerning properties in Dubai are all overseen by the Dubai Land Department, Government of Dubai. The same is also known as the Real Estate Regulatory Agency or RERA. Speaking about the three-year Dubai Property Investor Visa Rules,. In this case, the permit was issued for three years. The tenure is renewable with a nominal cost after the time limit has passed.
Condition for getting three-year property visa
The property against which the permit is issued must be strictly residential and not commercial. This goes for all the visa application conditions, irrespective of tenure, as long as you’re looking for a Dubai residence visa.
Furthermore, such properties, against which the visa is being applied, must be located in areas that allow foreigners to possess freehold properties. 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 that 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.
The necessary documents for a three-, five-, and ten-year residence visa
- Original passport
- A 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-year property investors visa in Dubai, you’ve got to possess a property valued at 2 million (gross value) dirhams, and if not fully paid, it is subject to approval.
Ten-year Property Investor visa
To obtain Dubai ten-year property investor visa, you’ve got two of the following: property valued at not less than 10 Million Dirhams. Or a company or business owned by the investor valued not less than $10 million and audited by authorized UAE authority.
One can also obtain a ten-year visa by partnering in business with shares valued at more than 10 million Dirhams. The other option is having an investment in all the verticals as mentioned above, with a similar 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 applied is a mortgage,. Then 50 percent of the valuation has to be paid off, or for that sake, Dh 1 million must be returned if the property values more than Dh 2 million.
There is another exception to this rule. If the bank from which 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 ensure 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 is 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.
