How to get UAE residency through property investment
The UAE has firmly positioned itself as an appealing destination for businesses, investors and entrepreneurs. Work and employment opportunities, efficient law enforcement and modern infrastructure are reasons people from across the globe see the UAE as an ideal place to live. Hence, many investors and corporations want to move to the UAE. The government has introduced several programs to help interested individuals get UAE residency by investments. One such popular method is the UAE property investor visa.
ALL ABOUT THE UAE PROPERTY INVESTOR VISA
Dubai and the other emirates encourage foreign investment with a unique investment-driven visa programme that allows people to reside in the country and maintain a rewarding lifestyle legally. This way, investors can build a secure future for their families and see their businesses prosper.
The list of UAE residency programs involving investment includes partnering in businesses, being uniquely talented in a particular field or buying properties worth a fixed amount.
The UAE Golden Visa via property investment attracts many people. Some investors consider getting a ‘Retirement Visa,’ which also involves investing in property.
MAKING INVESTMENTS IN DUBAI
Are you looking to buy a property in Dubai? The Taskeen programme offers some great opportunities.
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TASKEEN PROGRAMME
As part of the Taskeen Programme, you must buy a property worth AED 750,000 (at least) to get a 2-year renewable residency visa. The main applicant can also sponsor their spouse and children.
To apply for this UAE property investor visa, you require an electronic copy of the Title Deed certificate, your passport and a recent photo.
For mortgaged properties, 50% of the property value (or at least AED 750,000) has to be paid to the bank. You can only get this visa when buying a residential property in the designated freehold areas in Dubai. Please note that off-plan or commercial properties are not included in this programme.
An NOC letter in Arabic and the mortgage statement are required to proceed with the application. A legally married couple can share a property worth AED 750,000 or more (but an attested marriage certificate is needed in this case). A Power of Attorney is required if the application is submitted on someone’s behalf.
INVESTMENTS IN ABU DHABI
Are you interested in buying a property in Abu Dhabi? Here’s everything you need to know about the Thrive in Abu Dhabi programme.
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THRIVE IN ABU DHABI
As part of the Thrive in Abu Dhabi programme, real estate investors become eligible for up to a 10-year visa if they buy a property worth AED 2M or more. A down payment of AED 2 million for mortgage properties is required and the minimum retention period is two years.
UAE INVESTMENTS
Investors who want to move to the UAE can also consider these options.
GOLDEN VISAS
Applying for a Golden Investor Visa in Abu Dhabi is a preferred choice among real estate investors. You can get a 5-year UAE residency visa by investing in a property worth a minimum of AED 2 million. However, the money you invest cannot be acquired via a loan. Plus, the property has to be retained for a minimum of three years.
Those holding a UAE property investor visa and even those sponsored by the visa holder cannot work in the country. If you find a job, the organisation will have to sponsor you on a new visa before you start working.
It would help if you created a mixed investment portfolio for a 10-year UAE residency visa. Investors need to lay out at least AED 10 million. However, a maximum of 40% can be spent on buying property, and the rest has to be invested in other areas. You can divide the property investment to buy three separate properties. Six-month multiple-entry visas are issued to facilitate the process.
Federal Authority for Identity and Citizenship has launched a dedicated portal to cater to Golden Visa applications. You can also apply for a long-term Golden Visa at Typing Centres and Amer Centres (in Dubai).
DUBAI INVESTOR VISA AND PARTNER VISA
Although the terms investor visa and partnership visa are used synonymously, there’s a difference between the two. The 10-year Dubai Investor Visa is for investors who set up a new corporation in a sole proprietorship or invest capital in an existing company worth AED 10M.
On the other hand, a Dubai Partner Visa is granted to an entrepreneur whose business setup has more than one owner or shareholder. Since both visas have the same legalities and requirements, check out the Dubai Investor Visa guide for more information.
RETIREMENT VISA
Those aged 55 or above can also get a UAE property investor visa with successful property investment. Applicants have to invest at least AED 2M. Plus, the applicant must have savings of AED 1 million and an active monthly income of AED 20,000. Retirement Visas are 5-year visas.
FAQs about UAE property investor visa
WHERE CAN I READ MORE ABOUT THE 10-YEAR GOLDEN VISA?
This handy Dubai Investor Visa guide contains all there is to know about the 10-year Golden Visa. You can also learn more about the Dubai special visas.
WHAT HAPPENS IF THE PROPERTY PRICE INCREASES OR DECREASES AFTER I HAVE BEEN GRANTED A VISA?
Only the official property price at the time of purchase will be considered to make a decision. Any changes after that have no impact.
CAN FOREIGNERS BUY PROPERTIES IN DUBAI?
Yes, foreigners can own property in Dubai. Here’s a comprehensive guide on property ownership for foreigners in Dubai.
WHICH ARE THE MOST POPULAR AREAS TO INVEST IN DUBAI?
Checkout our list of the most popular areas to invest in Dubai’s real estate market. If you are planning to attain UAE permanent residency by investment, buying a property in one of these areas can prove to be beneficial.
You can also read about investing in Abu Dhabi real estate if your preference is for the capital city.
SHOULD I INVEST IN DUBAI REAL ESTATE OR STOCKS?
Wondering what type of investment to make? Read our guide on investing in real estate vs stocks to find out more.
That concludes our guide to UAE residence visa for property owners. The UAE government is welcoming people from all around the world, and you can also make the UAE your new home with these investment programs.
The interest in the UAE investor visas has risen considerably recently as real estate investments are a helpful way to secure your financial future. Since the economy is recovering post-pandemic, these investments will help you reap lucrative profits in the long run.
To learn more about UAE visa rules and regulations, don’t forget to subscribe to MyBayut.
