Thinking of getting a property in Dubai under your name? Dubai-The ideal investment destination offers several ways for non-residents and ex-pats to invest in Dubai real estate market. Once you are aware of the rules governing the real estate market and fulfil the prerequisites like having a valid passport and a UAE property Visa, you can easily get the property of your dreams.
An investor or property buyer can apply for a property investor visa in the UAE.
Application procedure for the UAE property visa:
Step 1: Visit the immigration department, a typing center, or a Tasheel center to obtain an entry permit.
Step 2: You can acquire a medical fitness test at any government health center. Fill out the entry permit form by naming the health center you wish to visit.
Step 3: The Emirates ID application was typed by Amer Centre. Bring your original Emirates ID (if applicable), photographs of your family, and Emirates ID applications of family members when you submit that application. Also, in case you have never applied for Emirates ID, you will have to provide biometric data too with the application.
Step 4: As part of your visa application, you must purchase health insurance. Compare the health insurance companies in Dubai to find one that’s right for you.
Step 5: To obtain an investor residence visa in Dubai, visit one of the Amer centres located throughout the city. The Amer centres can be found in Al Jafiliya, Al Twar, Dubai Festival City, and Al Quoz.
Types of Property Investor Visa UAE:
Property visas are generally granted to investors and property buyers. An investment in any freehold property in Dubai is required for eligibility for this visa. To maintain property ownership for the duration of the visa, the buyer must renew the visa accordingly.
5-year property visa
An individual who has invested in a property valued at 2 million Dirhams in the UAE can apply for a 5-year residency visa. The investment must be kept for a minimum of 5 years, and the visa allows the holder to sponsor their family and dependents. The 5-year property visa in the UAE is particularly popular among international investors.
3-year property visa
The Dubai Land Department offers a 3-year property visa to those who invest in a property worth 1 million Dirhams or more in the UAE. This visa grants the investor residency status, allowing them to sponsor their family, and obtain a Dubai driving license, and an Emirates ID card.
Requirements for property investor visa UAE:
- You must have a monthly income of at least AED 10,000, or its equivalent in foreign currency.
- Make sure you have health insurance.
- There must be enough room for family members to live on the property.
- The property must be owned by you.
- The property must be an apartment or a villa.
- The property should be in a free-hold area (i.e. an area where foreigners are allowed to own properties).
- Property current value must be at least AED 1 million.
- In case the property is mortgaged, you must make sure that 50% property value is already paid.
- Dubai Title deed verification is mandatory(Issued by DLD).
Rules & regulations for UAE property visa application:
- A UAE property residence visa can only be obtained for freehold and residential properties.
- The property must be valued at 1 million AED or higher.
- A UAE property visa can also be obtained with 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.
- An applicant who owns multiple properties with a combined value of 1 million AED or more may apply for a property visa in UAE if they are approved.
- An individual may qualify for a real estate visa with multiple properties that have a combined value of 1 million Dirhams (pending approval).
- It is possible to apply for and obtain an Emirates ID.
- Holders of the visa are prohibited from spending a full year (365 days) outside the UAE.
- Applicants must submit evidence of an income of at least 10,000 AED per month.
Benefits of having a UAE Property Visa:
Having a property visa in the UAE comes with a number of perks, including:
-not requiring a local sponsor
-the ability to spend as much time in the UAE as the visa’s validity allows, with easy travel in and out of the country
-the ability 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 ability to renew your 3-year or 5-year visa if you choose to extend your investment ownership.
This concludes our guide on obtaining a property investor visa in the UAE. Similar to investor visas, there are also residence visas that allow for extended stays in the country.
If you already have one, it is important to be aware of the expiration date and check the status of your UAE visa.