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 On Properties in Dubai?
There is certainly no shortage of class-leading and mind-blowing properties in Dubai to invest. 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, DAMAC properties, among others, are excellent options to invest 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 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 is 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 being 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 being applied, must be located 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 the 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 property valued at 5 million (gross value) Dirhams and if not fully paid, it is subjected to approval.
Ten Years Property Investor visa
To obtain Dubai ten years property investor visa, you’ve got to 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 the 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 per cent 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 a bait. Mortgaged property owners are allowed for the Property Visa in Dubai on certain conditions.
If the property against which the visa is being applied for is mortgaged, then 50 per cent 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, that is 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, provided he/she owns property in Dubai over 1 million. In this case, Business link UAE can help the person obtain the residence visa in Dubai.
In the same way, if you’re looking for Libyan nationality visa in Dubai, the same rule applies. Also, people looking for Syrian nationality visa in Dubai, and Iraqi nationality visa in Dubai, we’re here to help them, provided the prerequisite is met.
Get Excellent Dubai Property Visa Support With Business Link UAE
The Government of UAE ensures all the processing related to visa applications are 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 one-step visa process. With Business Link UAE’s Dubai Investor Visa service, all you’ll do is to let us know your plans.
