What is Property visa in Dubai?
Dubai's economy has historically relied heavily on the real estate sector for growth. The Dubai government has launched a variety of initiatives to entice potential investors, and many of these laws and measures have resulted in increasing investor confidence and foreign direct investment. The Dubai government's real estate investor visa requirements are regarded as one of the most significant efforts in the real estate market. These guidelines were recently revised to benefit both the Dubai real estate market and potential property purchasers, and they have already begun to attract more buyers, boosting the influx of capital into the market.
The Different Types of UAE Residence Visas for Property Investors
Property investors can apply for the following visas:
- 6-month visa;
- 3-year residence visa;
- 5-year residence visa;
- 10-year resident visa
6-months Visa to the UAE
Although it is most commonly used as a tourist visa, it offers several additional benefits.
One of its key advantages is that the visa holder can enter the nation many times within 6 months.
This visa is provided by the local immigration authorities, not the Dubai Land Department, following the acquisition of any property valued at 272,000 USD or more in any of the seven emirates.
UAE Residence Visa for 3 Years
This option is appropriate for people looking to invest in property valued at least 272,000 USD in Dubai. The Dubai Land Department issues this visa.
You will be considered a resident of the UAE with this visa and will be eligible to get an Emirates ID and driver's license. You will also be able to secure visas for members of your family.
This visa option costs between 13,000 dirham (3,539 USD) and 15,000 dirham (4,084 USD). It is valid for three years. However, the bearer of this three-year visa must visit the UAE at least once every six months.
UAE Residence Visa for 5 Years
You will be eligible for a 5-year residence visa if you acquire a property worth more than 5 million dirham (1,361,470 USD).
When applying for a 5-year UAE visa, several conditions must be met. For example, the property cannot have been acquired with a mortgage or any other loan or financial instrument, and it must have been held for at least three years. This passport bearer can also apply for visas for their dependents.
UAE Residence Visa for a period of 10 years
This visa is accessible to people who spend more than 10 million dirhams (2,722,940 USD) in real estate, with at least 40% invested in real estate.
To be eligible for the 10-year residence visa, you must demonstrate that your investment is not a loan and that you will hold the investment property for at least three years.
Holders of this document, unlike holders of other types of visas, have the right to apply for visas for their CEO and advisor, rather than only their dependents.
What is the cost of a Dubai Property Investor Residence Visa?
The entire cost of acquiring a visa for property visa in dubai is between 13,000 dirhams (3,539 USD) and 15,000 dirhams (3,539 USD) (4,084 USD). The following expenditures are included in this cost.
The price for the police letter is 220 dirham (59.90 USD).
The administrative charge is 420 dirham (114 USD).
A 3,000 dirham application fee is required (817 USD).
The cost of printing paperwork and obtaining admission permission is 1,100 dirham (300 USD).
The Department of Economic Development charges 8,400 dirhams to issue a license (2,287 USD).
The cost of stamping a visa, Emirates ID, and medical examinations will be 2,490 dirhams (678 USD).
Sponsoring a spouse and dependents costs an additional 5,000 dirham (1,361 USD) per family member.
