Everything you need to know about UAE visa for property owners
UAE is an exciting destination for investors from all around the world! UAE offers world-class infrastructure, promising rental yields, and flexible visa rules for investors. Property visa UAE has consistently implemented several policy initiatives. They follow certain measures to retain investor confidence and increase direct foreign investment.
Among the popular visa initiatives, 5 year property visa UAE has drawn lot of attention from investors around the world. Some of the investors currently apply for a 3 year property visa UAE for minimum investment in the acquisition of property!
When it comes to UAE, Dubai-based property market allows multiple options to choose from. Get a wide range of property options, making Dubai a great investment destination and contributing a lot to its economy!
UAE property visa rules make it a prime choice for property buyers around the world. The government has revised and implemented property visa in UAE to retain investor confidence.
What are the types of property investor visa UAE?
Property investor visa is usually granted to property buyers and investors.
The eligibility required for this visa includes minimum investment of AED 1 million in freehold property. The buyer should renew it every 2 years and the ownership of property must be maintained for the particular duration of the visa.
5 year property visa UAE
It’s a recent addition introduced last year that allows long-term residence option with property owner visa UAE.
The owner should invest in a property worth AED 5 million for the eligibility of 5 year residency visa in UAE. In most of the visa options, starters cannot purchase the property by availing any sort of loans, financing, or with a mortage. In addition to these terms, the investment should be retained for at least 3 years. People owning this visa; also get the freedom to sponsor their family or dependents as well.
5-year UAE property investor residence visa requires a minimum investment of AED 5 million in freehold property and it can be renewed every 5 years.
The renewal condition requires ownership of the property and it should be maintained for the duration of the visa.
3 year property visa UAE
3 year property residence UAE is primarily issued by the Dubai Land Department for people interested in buying or investing in a property worth AED 1 million or more in UAE. While doing so, you are eligible to become a UAE resident and avail many benefits that include family sponsorship, driving license, and likes of Emirates ID.
The 3 year UAE property visa costs around Dh 13,000 – Dh 15,000 and it’s valid for 3 years which is a convenient option for investors. Visa owners should keep in mind that they cannot spend a consecutive 6 months outside the country.
10 year UAE visa on property
For people investing more than AED 10 million, they are considered eligible for the 10 year UAE visa for property owners. It’s essential to provide ample proof for the amount invested in not financed or loaned. Also, make sure that you will have to retain investment for a period of 3 years.
A 10 year UAE visa based on property will include an executive director and an advisor, apart from the family members and dependents.
Usually, visa can be extended by including business partners, if they’re interested to contribute an additional amount of AED 10 million.
What are the terms and conditions to obtain a property visa in UAE?
Make sure to keep in mind certain UAE visa rules for property owners while applying for a visa,
- Property investor visa UAE is made available for residential and freehold properties
- Property value should be worth or more than AED 1,000,000
- Property type don’t offer any visa include in disputed and leaded properties, off-plan, and land-plots.
- You can apply for a visa with mortgaged property but it should meet the minimum investment amount of AED 1,000,000. Also, make sure to submit an NOC from the bank along with the application file.
- You are eligible for residency visa, if you have multiple properties that sum up to the total value of AED 1 million.
- In case of a joint venture with your spouse, you have the right to apply for a property investor visa UAE. But, make sure to attach the marriage certificate along with the application.
UAE visa on buying property requires necessary proof f income and it should be a tleast AED 10,000 or equivalent per month. The location where you earn the income doesn’t matter and it’s not location-specific. However, share adequate information on income proof as a part of the process.
What are the documents required to apply for a property visa in UAE?
While applying for a Property investor visa, have the following documents,
- Bank statements
- Current visa status or copy of it
- Title deed on the property
- Certificate of good conduct from Dubai police
- Passport photo (6nos)
- Passport copy of the applicant
- Utility Bill
What are the steps in obtaining a UAE property visa?
- Start the process by visiting Dubai Land department with all the required documents along with a request for reference letter at the Dubai Police.
- After getting the letter from DLD, approach Dubai police department for a certificate of good conduct.
- Ensure follow up by visiting the Dubai Economic Department along with necessary documents and apply for a trade license as well.
- After the issuance of investor license, make sure to pay a visit to the GDRFA or General Directorate of residency and foreign affairs to apply for the UAE residence visa.
- When done with the procedure of applying for a visa and it’s approved, and then you can apply for your family too!
UAE has always been a hot market for investors from all over the world due to its high rental yields and strong capital appreciation. A & A associate support your investment by providing the exact property visa in UAE with great accuracy and affordable services!