In 2019, the United Arab Emirates (UAE) introduced a new system for long-term residence visas, which has made it easier for foreigners to live, work, and study in the country without the need for a national sponsor. This system allows individuals to obtain a long-term residency visa in the UAE, giving them more stability and security in their lives. Additionally, foreigners can now own 100% of their business on the UAE mainland.
Fast forward to 2022, the UAE government has approved new conditions for obtaining a golden visa through investment, which provides even more benefits. Under the new rules, the investment amount required to obtain a golden visa has been reduced, making it more accessible to a wider range of people. In addition, the new rules provide an opportunity to buy off-plan properties and take a mortgage. With these new rules in place, investors can take advantage of the flexibility and financial benefits of paying for their investments over time. However, it must be noted the minimum amounts must be paid up for the investor to be eligible for the residence visa.
THE BENEFITS OF HAVING A REAL ESTATE INVESTOR VISA IN DUBAI:
* The UAE is a safe haven and one of the wealthiest, most developed countries worldwide.
* Tax optimization is a significant benefit, as income, capital gains, inheritance, gifts, and properties are exempt from taxation.
* Corporate tax is only 9%, which is much lower than most countries.
* As an investor with a resident permit, you can open bank accounts in multiple currencies.
* The Dubai Property Investor Visa offers excellent investment opportunities in a city with a high quality of life and warm climate.
* The UAE has a business-friendly policy and is an attractive option for international investors.
DUBAI PROPERTY INVESTOR VISA | TWO YEAR RESIDENCY VISA
This is the previous three-year Dubai property investor visa for a property at 1 million. It is now a two year visa for a property above 750,000 AED ($205,000 USD).
To apply for a two-year residency / Dubai property investor visa through property, you must:
- Own a property which is completed and handed over to you
- Own a property which is worth a minimum of 750,000 Dirhams ($205 USD) (net of closing costs)
If the visa application is processed a few months after the purchase of the property an independent valuation will be required for the property to demonstrate its value of at least AED 750,000 ($205,000 USD). This valuation will take into account the last ten transactions within the previous 3 months as well as current property listings and the condition of the property.
To obtain a property investor visa in the UAE, there are specific requirements that must be met. The property must be ready and not under construction with a minimum value of AED 750,000 ($205,000). If the property is mortgaged, an NOC from the bank is required, showing the total paid amount and the remaining amount. If the property is mortgaged by the developer, a copy of the initial sale certificate is required. This is to demonstrate 750,000 AED ($205,000) worth has been paid for.
TEN YEAR RESIDENCY VISA – GOLDEN VISA
This is a new option for Dubai property investor visas. It is available in Dubai for investors who invest AED 2 million ($545,000 USD) or above, to be granted a 10-year visa. To qualify for the ten-year residency visa, the property must be maintained for at least three years. The AED 2 million ($545,000 USD) may be spread across three properties.
To obtain a Golden Visa in Dubai, there are specific requirements that must be met. These include owning a ready property in the UAE that is valued at a minimum of 2 million Dirhams ($545,000 USD). If the property is mortgaged, an NOC from the bank is required, which shows the total paid-up amount and the remaining amount. Additionally, if the property is mortgaged by the developer, a copy of the initial sale certificate and a payment statement must be submitted. A husband and wife can participate in one property for the visa application.
Obtaining a Golden Visa in Dubai has several benefits. The visa allows for the sponsorship of your family, including children up to 30 years of age for boys and unmarried daughters with no age limit, and parents or parents-in-law for 10 years. There is no limit on extended stay outside the UAE, and Dubai investor visa holders are permitted to reside and work in Dubai. Moreover, Dubai is one of the safest cities in the world with essentially no crime, making it an ideal place for investors to relocate to.
RETIREMENT VISA- 5 YEARS RENEWABLE
To obtain a Retirement Visa or Five Years Visa in the UAE, applicants must meet specific requirements. These include owning a ready property in the UAE that is valued at a minimum of AED 1 million. Additionally, the applicant must be 55 years or older to be eligible for the visa. The visa offers 5 years of UAE residency, which is renewable after the renewal period, subject to set criteria.
This type of visa provides an excellent opportunity for retirees who wish to spend their retirement years in the UAE. With a ready property in the UAE, retirees can enjoy a comfortable lifestyle in a safe and secure environment. The UAE offers several benefits for retirees, including warm weather, a high quality of life, and excellent healthcare facilities. Additionally, the country is a hub for international travel, making it easy for retirees to explore other parts of the world.
SOME ADDITIONAL DOCUMENTS REQUIRED:
- Your passport copy
- The title deed of the property
- 6 passport size photos
- Current visastatus copy
- Bank statements
- Certificate of good conduct from the Dubai Police
- Health Medical insurance
- Utility bill