Individuals who have purchased a property for a minimum value of Dh1 million are entitled to apply for residence visa in the UAE, provided
such a property has been completed and
handed over to its owner by the developer.
Such a visa is valid for two years.
Five-year residence visa will be given to owners of UAE real estate worth at least Dh5 million as long as ownership is not based on loans.
Renewable 10-year visas will be provided to foreigners with investments in the UAE of at least Dh10 million, if non-real estate assets account for at least 60 per cent of the total. Investors can bring spouses and children into the country.
The amount invested shall be wholly owned by the investor and not loaned, and should be proven by supporting documents. There should be an investment retention for at least three years.
The long-term visa could also be extended to include business partners, provided that each partner contributes Dh10 million, the spouse and the children, as well as one executive director and one advisor.
The rule allows investors to enter the country for a six-month period, multiple entry, to apply for the long-term visa requirements.
Steps
The property owner initially has to approach the Dubai Land Department along with original passport, original title deed, NOC from the developer and copy of current visa page (if any).
Based on the letter issued by the Dubai Land Department, you need to thereafter approach the Dubai Police for issuance of Certificate of Good Conduct
and later to the Dubai Economic Department along with the relevant documents and apply for an investor licence.
Once the investor license is issued by the Dubai Economic Department, you can approach the GDRFA to apply for residence visa in the UAE with aforesaid documents.
+ Once you obtain
your residence visa, you are entitled to apply for
residence visa for your family under your
sponsorship in the UAE.
Two year Multiple-entry Visa will be issued for expatriate property owners, who meet the eligibility criteria.
+ This Visa can be renewed, but the investor must remain out of the UAE for at least one month.
Dependents' Visa: Property visa holder can sponsor his dependents on residence visa.
+ The maximum permitted stay at once is six months.
+ Visa Fee: Dh 13000 (Approx)
+ The investors will need to meet a set of requirements:
Property Worth: The property should be worth at least Dh1 million.
+ It should be ready for the investor to move in.
Monthly income: It should be wholly owned by the investor and the investor must have a monthly income no less than Dh10,000 or equivalent in foreign currencies.
+ The apartment or villa must be comfortable to accommodate the family of the investor.
+ The investor is required to obtain the title of the property from the registration authority in the respective emirate, before he could be granted the visa.
How to apply: You should approach Land Department with all the supporting documents.
Documents Required:
+ Title Deed of the property
+ Passport copy & Photo
Time: Visa approval will take three weeks
Period of Visa: Two yearsSend your queries to: visaprocess.ae@gmail.com
Address:
Dubai Land Department
Bniyas Road, Deira, Dubai
Tel. +971-600-555556
Rental Dispute Center: 8004488
Timing: Sunday to Thursday from 7:30 am until 2:30 pm
Property Visa in other Emirates
Multi-entry residence visa for property owners is renewable every six months and valid for properties in any emirate.
What is the difference between the residence permit and the residence visa?
The residence permit and visa for property owners grants temporary residency to qualified investors and their dependents on the basis of property ownership. The principal difference between the two is that the residence permit for property owners is renewable every two years for properties purchased in Dubai, while the multi-entry residence visa for property owners is renewable every six months and valid for properties in any emirate.
Mandatory minimum investment threshold
To be eligible for either the residence permit or visa, properties must be valued at more than Dh1 million. Mortgages are allowable for the residence permit, but if the property is mortgaged a minimum 50 per cent of its original price must be paid off, or Dh1 million must be paid off if the property’s value is more than Dh2 million.
Investment criteria
The investment property must be in a freehold area and entirely owned by the investor, with the title deed issued in the name of the applicant. Lease-to-own deeds are not accepted. Additionally, the property must be ready for the investor to move in and its size must be proportionate to the number of family members occupying it (if applicable). If the property is owned by more than one investor, the shared value must be more than Dh1 million, or a legalised marriage certificate has to be provided if the investors are married. Verification of the investment requirement is undertaken at the Dubai Land Department for the residence permit and the relevant immigration authority for the residence visa. Furthermore, there is a minimum monthly income requirement of Dh10,000 or equivalent in a foreign currency. The investor’s income source may derive from inside or outside of the UAE.
Documents required
The standard documentation required to obtain either the residence permit or visa includes copies of passports and current visas, passport photos, police clearance certificates, title deeds, legalised marriage certificates, attested bank statements, proof of health insurance for applicants and dependents, and a Dewa bill. Both the Dubai Land Department and the relevant immigration authority can request additional documentation.
Points to note:
Important factors to take into account include the following:
• Spouses and dependents are subject to fulfilling the dependents’ sponsorship criteria.
• Sponsorship of domestic workers is allowable under the residence permit. However, under the residence visa, sponsorship of domestic workers is subject to approval from the relevant immigration authority.
• In-country medical examination is required for investors applying for the residence permit.
• Neither the residence permit nor the residence visa status leads to citizenship.
• Holders of the residence permit or the residence visa are prohibited from working.
• There is no maximum period of stay for both the residence permit and the residence visa. However, residence permit holders should not stay outside of the UAE for more than six consecutive months.
• The Department of Economic Development issues an investor’s license for every permit granted. The license is valid for four years and renewable thereafter.
How much does it cost?
The residence permit costs about Dh13,000 in government fees. If the investor sponsors dependents, there is an additional Dh3,000 deposit per dependent. Estimated government fees for the residence visa are approximately Dh2,300 per applicant, which is the same for each dependent, due every six months.
Can I secure life-long residency in the UAE if I buy a property?
It is not possible for any non-GCC national to get lifelong residency in the UAE, even if they purchase property. While it can be possible for an expat to obtain a residency visa based on property ownership, the rules are very strict and the visas are valid for either six months or two years only. There is no guarantee that anyone buying a property will be granted a visa and they do not permit a person to undertake any form of employment in the UAE.
To make an application, the property must have a purchase price of a minimum of Dh1 million and the outstanding mortgage must be no more than 50 per cent. The applicant must have an income of at least Dh10,000 per month from a verifiable source, but this cannot be not from employment in the UAE. Any application must be made to Dubai Economy and the Dubai Land Department for consideration with visas granted on a case-by-case by case basis - approval is by no means automatic. Visas are issued for up to two years under the current rules. In accordance with standard Dubai rules, applicants must undergo a medical examination and organise their own Dubai Health Authority compliant medical insurance. I would reiterate that a property related visa does not permit an individual to work in the UAE, only to reside here, so if they take up employment the property visa must be cancelled with immediate effect and there is no guarantee that any application will be approved or renewed.(TN)
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Can the title deed under
my wife's name be used as a valid document to apply for her visa?
My wife and I have been living in the UAE for around four years under our
own respective employment visas. Her employment tenure at her current company
will come to an end soon and I will be sponsoring her visa.
My salary is above Dh15,000 per month and we have a UAE-attested marriage
certificate. Recently, we purchased a one-bedroom apartment under my wife's
name. As she is the owner, we don't have any Ejari or contractual agreement. We
now want to live in our apartment. Please advise weather I can sponsor her visa
without an Ejari. Can the title deed under her name be used as a valid document
to apply for her visa?
Pursuant to your queries, you may consider one of the below mentioned
options to comply with the requirements to sponsor the residence visa of your
wife:
a) You may provide the title deed of the property owned by your wife,
affection plan of this property and copy of your legalised marriage certificate,
along with other documents to the General Directorate of Residency and
Foreigners Affairs in Dubai (the 'DNRD'), seeking the approval of the DNRD for
residence visa of your wife. Further, it is recommended that your wife submits a
letter to the DNRD, stating that she has no objection as the owner of the
apartment allowing her husband to reside with her in the apartment; or
b) If you intend to apply for residence visa for your wife under your
sponsorship, your wife could rent her apartment to you, and upon obtaining an
Ejari tenancy contract, you may comply with this particular requirement of the
DNRD to sponsor the visa of your wife; or
c) Your wife may obtain a residence visa against the property she owns.
Individuals who have purchased a property for a minimum value of Dh1 million are
entitled to apply for residence visa in the UAE, provided such a property has
been completed and handed over to its owner by the developer. Such a visa is
valid for two years. The property owner initially has to approach the Dubai Land
Department along with original passport, original title deed, NOC from the
developer and copy of current visa page (if any). Based on the letter issued by
the Dubai Land Department, your wife needs to thereafter approach the Dubai
Police for issuance of certificate of good conduct and later to the Dubai
Economic Department along with the relevant documents and apply for an investor
licence. Once the investor license is issued by the Dubai Economic Department,
your wife can approach the DNRD to apply for residence visa in the UAE with
aforesaid documents.
THE LAW
Individuals who have purchased a property for a minimum value of Dh1
million are entitled to apply for residence visa in the UAE, provided such a
property has been completed and handed over to its owner by the developer. (KT)
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