Since 2016, there has been a steady increase of real estate transactions in Dubai. After all, investing in real estate in this gem of a city is quite popular, even until this moment – new projects by Emaar like Emaar beachfront apartments, and the like are developing day by day.
When it comes to investing in Dubai's property market, an influx of questions regarding obtaining a residency visa via property ownership are often asked.
To make it easier, we have compiled all the necessary information you need about obtaining a visa via property ownership.
Currently, there are 2 kinds of property ownership visas available:
6-Month Multi-Entry
- The visa should be renewed every 6 months.
- The property should be more than 1 million AED.
- At the time that the property is ready for sale, it should be fully finished and livable.
- If a property has several owners, each shareholder should pay 1 million AED for the property.
- Individuals with this visa are not eligible to work in the UAE as this is considered to be a residency visa, not a work visa.
Fee – There is a renewable fee worth 1,100 AED every 6 months.
Sponsorships – Family members can be sponsored. The cost is 250 AED, and it must be renewed every 6 months as well.
2-Year Residency
- Mortgages are not an option.
- The visa should be renewed every 6 months.
- The property should be more than 1 million AED.
- There should be a monthly income worth 10,000 AED paid in the owner’s account.
- At the time that the property is ready for sale, it should be fully finished and livable.
- If a property has several owners, each shareholder should pay 1 million AED for the property.
- Individuals with this visa are not eligible to work in the UAE as this is considered to be a residency visa, not a work visa.
Fee – There is a property visa fee worth 1,100 AED, administration fee worth 400 AED, and investor trade license worth 2,000 AED.
Sponsorships – Family members can be sponsored. The cost is 6000 AED per head. However, maids can’t be sponsored.
Documents Required:
Below are the documents required to process the residency visa:
- Title Deed
- Passport Copy
- Contract of sale and purchase
- 6 photos (must be passport size)
- A copy of your current visa (visit or tourist)