Dubai is a thriving city in technological, scientific, and financial markets. Foreign entrepreneurs consider the “Golden City” as a perfect cradle for economic prosperity, full of great income potential for their businesses. However, in some cases, it is necessary to obtain a property visa in Dubai to more closely manage their investments.
In this article, you will learn everything about how to get a 3 or 5-year property Visa in Dubai. Also, here is a list of conditions and requirements you will need to fulfill to obtain it in a short time.
- What is a property investor’s visa?
- Requirements to obtain a property visa
- What is the durability of these visas?
- Benefits of owning real estate in the Emirates
- What documents must be provided to apply for this document?
- Steps to get an investor’s visa in Dubai
- How can we help you obtain more information about visas in the UAE?
1. What is a property investor’s visa?
The property investors visa, or simply property visa, is a legal document that allows foreign business owners to work, study and settle within the Dubai Free Zone, like the DMCC Free Zone, or Mainland for long periods by owning a high-level property in the UAE.
It has certain similarities with the UAE Golden Visa, like its long duration and the possibility of settling within the UAE without resorting to a sponsor. However, the main purpose of this visa is to provide an opportunity for property buyers and investors to establish themselves in the Emirati market.
The Emirati authorities introduced the property visa in Dubai in 2019 to provide foreigners with a reliable, transparent, and flexible property investment ecosystem that allows 100% company ownership by investing part of the capital in a property that meets the visa requirements.
As a result, the property visa in Dubai allows investors to opt for a long-term residency of 3 to 5 years according to the visa requirements and establish themselves for a long period within the UAE. However, it has certain conditions such as not being able to leave the UAE for 6 months.
2. Requirements to obtain a property visa
Before applying, it is important that the applicant meets the conditions of the property visa in Dubai. Among the requirements are:
- The properties or assets must not be in the construction stage. That is, they must be ready and operational.
- The property must be free of litigation.
- Similarly, the total purchase value must be at least AED 750,000. It is essential that it is the actual value of the property, not the one established in the market.
- Moreover, the investor must have at least 50% of the mortgage payment. Also, he/she must appear as the owner of the title of the property.
- The applicant must remain in the country for at least 6 months.
- Lastly, as long as he/she continues to own the property he/she acquired the visa is valid.
To sum up, it is possible to qualify for a property visa in Dubai if the applicant has an absolute investment of AED 750,000 in one or three maximum residential/commercial properties. It is essential that the applicant is the absolute owner of the property.
2.1 Types of real estate
Among the properties you can acquire to qualify for a property visa in Dubai, there are two main types, which are residential and commercial.
In the case of residential real estate, you can find:
- Serviced Apartment.
- Semi-detached houses.
Likewise, commercial properties include:
- Apartment hotels.
- Hotel rooms.
Nevertheless, if you are applying for the first time, it is highly recommendable to do it with a residential property.
3. What is the durability of these visas?
Before applying for a Property Visa in Dubai, you must know the durability of the visa. This long-term visa allows you to reside in Dubai for 3 or 5 years, according to the candidate’s profile. Likewise, it can be renewed every 2 years.
It is relevant to highlight that, in general terms, the property visa in Dubai is granted to real estate investors or business owners who have bought properties in Dubai Mainland or any of its Free Zones. On the other hand, each type of visa has its own conditions like:
3.1. 3-year property visa in Dubai
In the first case, the Dubai Land Department grants a 3-year property visa to those owners who are ready to occupy residential or commercial properties. Likewise, investors whose total investment is equal to or greater than AED 1 million or AED 750,000 for joint ownership of a property.
For example, in the case of a married couple, they can apply together for a 3-year property visa in Dubai if they present a duly legalized marriage certificate.
Moreover, this visa has multiple benefits such as family sponsorship, a UAE driver’s license, and an Emirate ID. The cost of the visa can vary between AED 13,000 and AED 15,000.
Among other specific requirements to apply for the 3-year property visa in Dubai is having a monthly income of AED 10,000. In the same vein, the property must be ready to move in and free of mortgage.
3.2. 5-year property visa in Dubai
On the other hand, the 5-year property visa in Dubai allows investors and their families to obtain a long-term residency visa in Dubai. The main condition is to have an investment with an equivalent value of AED 5 million divided between one or 3 properties that are free of loans, mortgage, or financing.
That is to say, the investor must have 100% ownership of the property. Consequently, the property must be held for at least 3 years and the property must be fully owned by the visa holder during their time of residence.
Moreover, it is also possible to become a sponsor for direct family members such as spouses, children, and dependents (parents). In addition, it is possible to renew it every 5 years. However, the visa is only residential; in order to be able to work legally, it is important to apply for a visa.
3.3. 10-year residence visa
Furthermore, investors who have high purchasing power or have experience in a high-priority profession may opt for a 10-year residential visa or Golden Visa.
Most importantly, the UAE Golden Visa allows individuals to stay in the country for 10 consecutive years with great financial and investment freedom. On the other hand, investors who have at least 40% of the money invested in real estate equivalent to AED 4 million can obtain a Golden Visa in a very short time.
4. Benefits of owning real estate in the Emirates
There are multiple benefits of obtaining a property visa in Dubai. Among them is being able to stay for a long period in one of the most prosperous cities in the Middle East. Dubai is a place full of options for growth, investment, tourism, and education, offering a high standard of living to individuals with special talents. Moreover, it has a pleasant climate and a high-level infrastructure.
On the other hand, there are tax-free zones and you will be free of personal taxes. Also, if you want to start a business in the future in any of the Dubai Free Zones or Mainland, such as opening a restaurant or an e-commerce business. Offer a financial ecosystem friendly to foreign investors with easy-to-understand business structures.
Finally, the real estate market in Dubai is one of the best and most prosperous in the world. With a wide range of options, investors have at hand a wide variety of options to acquire a residential property that fits the budget and needs of business owners and their family members or associates. Likewise, by becoming a resident of Dubai, you will have the opportunity to access IFZA services for company formation.
5. What documents must be provided to apply for this document?
Generally speaking, to apply for a property visa in Dubai, there are some papers that you must submit when making your application, among them are:
- Passport copy.
- 6 passport-sized photos.
- Utility bill.
- Property title deed.
- Multiple bank statements.
- Copy of current status/visa.
- Police department good conduct certificate.
Consequently, you should follow the next steps in this order:
- Filled application form.
- Non-objection certificate.
- Health certificate.
In the case of married couples, there will be also necessary to add a POA by a third party on behalf of the investor.
6. Steps to get an investor’s visa in Dubai
Most of the procedure is done in person, although some parts can be done online. Consequently, you should follow the next steps in this order:
- Visit the Dubai Land Department (DLD) and submit your passport. Additionally, submit the original title deed of the property and a copy of your visa. In addition, request a letter of reference to later obtain a certificate of good conduct from the Dubai Police Department.
- After receiving the letter of good conduct, it is necessary to go to the Dubai Economic Department (DED) with the required documents and apply for a trade license.
- Once you obtain the necessary permits, you must pay the corresponding fee and submit the documents to the General Directorate of Residency and Foreign Affairs (GDRFA) to apply for the UAE residential visa.
- Lastly, after obtaining visa approval, you will be able to obtain your visa and become a sponsor for your family.
The entire process can cost between AED 13,000 and AED 15,000 including visa stamping, additional visa fees for spouses or dependents, and administrative fees.
7. How can we help you obtain more information about visas in the UAE?
Buying a property in Dubai is an excellent way to establish yourself in the UAE in a short time. The infrastructure of the Emirates is one of the best in the Middle East territory. In addition, the wide variety of professional licenses will allow you to get a job in a short time
At Connect Zone, we are ready to help you obtain your property visa in Dubai easily and safely. With over 20 years of experience, our team can guide you through the application process. Also, we will ensure you the best service 24/7. In addition, our team of experts is ready to assist you in the company formation process as well.
Starting a business in the UAE is a cost-effective process and one of the best ways to enter the investment hub of the Persian Gulf. Therefore, we provide you with different PRO services, VAT registration, and business centers to create a business setup plan that fits your budget and needs in any of Dubai Free Zones or Mainland.
Would you like to contact Connect Zone to obtain a property Visa in Dubai? You can call us at +97143316688 for more information about our services. Alternatively, you can e-mail us at firstname.lastname@example.org, send your questions and a member of our staff will contact you to answer all your queries.
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