What do you know about the United Arab Emirates (UAE) real estate visa?
The prospect of living and investing in the UAE has become way much easier and more attractive. The UAE has always been the most incredible place for investors from all over the world who choose mainly Dubai to make a home for their families and a headquarter for their global businesses.
Who can buy real estate in Dubai?
Anyone can buy a property in Dubai, providing they have the funds. The UAE is world renowned for the exciting lifestyle that they offer to their citizens. When coming to the United Arab Emirates,
investors can choose from a variety of options in the real estate market,which makes the United Arab Emirates the most suitable place to invest and makes a great contribution to the economy of this country.
Residency visa through property investment in UAE
The real estate visa is generally granted to investors and real estate buyers. The eligibility criteria for this visa include a minimal investment in condominiums. The buyer must renew it or the ownership of the property must be kept for the respective duration of the visa.
5-year property Investor residence visa in the Dubai – UAE
Granting a visa is subject to the following conditions:
- The applicant must own a property worth AED 2 million (USD 544,517) or more, fully paid, not mortgaged.
- More than one property can be accepted.
- The property must be retained for at least three years.
3-year property Investor residence visa in the Dubai-UAE
This program allows the real estate investor who owns a property equal valued at AED 1 million (USD 272,258.5) or more at the time of purchase to apply for a three-year renewable residency visa as long as the sponsor is the owner. Also, the husband or wife and children can be sponsored.
- The property can be a residential apartment or villa, hotel, office, shop, any property in the freehold area, an usufruct, or rent-to-own, with a title deed issued by DLD
- The value of the investment in the property should be equal to or over AED 1 million; it can be evaluated if the property was purchased over two years ago
- If the property is mortgaged, the paid value must not be less than 50% of the value, or AED 1 million if the property's value exceeds AED 2 million.
- The investor may acquire the property via purchase, grant or inheritance.
- Spouses shall be treated as one share if the property has a purchasing value equal to or over AED 1 million, given it is co-owned with 50% ownership each, with the provision of a marriage contract certified by the UAE Ministry of Foreign Affairs in Arabic.
- If a person is not available after applying for a residency permit, a power of attorney may be given to another person, provided that the clause of the residence procedures for the General Directorate of Residency and Foreigners Affairs is mentioned.
Moving forward
Looking ahead, living in the Dubai as well as UAE in general remains a desirable destination for many investors. Quebec Investment Consultation & Management Services (QICMS) LLC is a multidisciplinary team of experienced and highly qualified professionals that assist worldwide clients. Contact our office today to discuss Residency by Investment opportunities of Golden Visa Programs.
For more information on the investment options and how to obtain permanent residence in the United Arab Emirates (UAE) please click here.
Feel free to fill out our Free Assessment, and find out if you qualify under any of the business immigration programs offered.
Source: Dubai Land Department