Dubai Property Visa Guide

by Zaara 13, Jul 2022

Dubai Property Visa Guide

Dubai is known globally for the incredible lifestyle it offers investors who wish to live in their property. It also has a proven track record of providing excellent returns for property investors who choose to lease their properties.

And with the Dubai property visa available for property investors, the prospect of investing and living in Dubai has become much easier and more appealing.

Types of Dubai Property Investor Visa

There are four types of property investor visas available. Let us have a look at each of them.

  1. The 6-Month Multi-Entry Visa

This visa is more like having a tourist visa but can make multiple entries over six months. In addition, this visa is available for any property worth over AED 1 million in any of the seven Emirates, unlike the three-year property investor visa.

As such, it is issued by the relevant immigration authority, not the Dubai Land Department.

  1. The 3-Year Residence Visa

The Dubai Land Department issues this visa for those who have invested in a property in Dubai valued at over AED 1 million. With it, you are qualified to be a UAE resident and receive the associated elements, including an Emirates ID, driving license, and family sponsorship.

This visa would cost around Dh 13,000- Dh 15,000 and is effective for three years which could be far more convenient. However, it is worth noting that those with this visa cannot spend six consecutive months outside of the country.

  1. The 5-Year Long-Term Residence Visa

Anyone who invests in property worth over AED 5 million could be eligible for a five-year residency visa. As with all of the visa options, the property cannot be purchased with a mortgage, not bought with any loans or financing, and the investment must be retained for at least three years.

Those with this visa can also sponsor their dependents and families.

  1. The 10-Year Long-Term Residence Visa

This visa is for those with a minimum investment of AED 10 million, 40% in real estate. The investors will have to prove that the amount invested is not loaned and will retain the investment for at least three years.

Investors with a 10-year visa can contain an executive director and an advisor apart from their children and spouse. This visa can also be extended to business partners if each contributes an investment amount of AED 10M.

The real estate sector in Dubai has always been a significant contributor to the growth of the Emirate’s economy. Due to this the government of UAE has taken various initiatives to attract potential investors to this sector from time to time, and many of these policies and measures have resulted in increased investor confidence and foreign direct investment.

The Property Investor Visa in Dubai rule implemented by the government is considered one of such significant initiatives in the real estate sector. To benefit both the Dubai property market and the potential property buyers, amendments have been made to these rules recently, attracting more buyers and increasing the flow of FDI into the market.

Eligibility Criteria to Obtain a Dubai Property Owner Visa

The criteria for obtaining this visa are –

  • Property Value should be AED 1,000,000 or more (purchase price and NOT the property's current market value).
  • Only Freehold and Ready properties qualify for the investor visas.
  • Residential apartments, Serviced Apartments, Hotel Apartments, Villa & Townhouses, Offices, and Warehouses are all now acceptable for an investor visa.
  • Off Plan, Leasehold disputed properties, and land plots are not acceptable for an investor visa.
  • You can still apply for a visa even if the property is mortgaged, as long as the minimum needed investment is met (AED 1,000,000); a NOC from the bank has to be submitted along with the application file.
  • In the case of multiple properties (Up to 3) with a total value of AED 1 million or more, the investor qualifies for a property visa.
  • An investor visa does not give you the right to work in the UAE.
  • If you bought your property (valued at AED 1,000,000 or more) as a joint venture with your spouse (husband or wife), you could apply for an investor visa. An attested marriage certificate is to be attached.
  • A minimum income requirement of AED 10,000 per month (or equivalent currency) can be derived from inside or outside the UAE. However, the applicant must provide proof of income as part of the criteria.

What is the Cost of a Property Investor Visa?

The Property Investor Visa costs approximately Dh 13,000-Dh 15,000*; which includes the police clearance letter (Dh 220), administration fees (Dh 420), application costs (Dh 3,000), typing and entry permit (Dh 1,100), DED license issuance (Dh 8,440) and stamping/Emirates ID/medical (Dh 2,490). In addition, there are also additional costs for the renewal and for sponsoring any spouses or dependents (Dh 5000-6,000 each).

The six-month Residency Visa costs considerably less (approximately Dh 2300*). However, this visa must be renewed every six months (Dh 1100 each time) to add up still. Again, fees apply for sponsorship of family and renewals (Dh 250 each).

*The fees mentioned above are subject to change depending on the new policies. We suggest contacting our consultants for more information on the cost.

How to Apply for Property Investment Visa Dubai?

The steps below will be followed to obtain a property investment visa in Dubai.

  1. Submit the Documents Required

Submit the following documents to the Dubai Land Department and request reference letters to submit to the Dubai Police:

  • Original Title Deed/s
  • Original Passport
  • Current Visa Copy
  • 1 Passport Size Photo (white background)
  • NOC from Developer (for a 6-month visa).
  1. Obtain the Certificate of Good Conduct

Based on the letter issued by the Dubai Land Department (DLD), you need to that approach the Dubai Police to issue a certificate of good conduct (for a 6-month and 3-year visa).

  1. Apply for a Trade License

Approach the Dubai Economic Department and the relevant documents and apply for a trade license.

  1. Apply for a Visa

After that, apply for a visa in the UAE with the required documents. Once you obtain your visa, you can apply for a residence visa for your family under your sponsorship in the country.

If you are interested in obtaining the Dubai Property Investors Visa, we at Commitbiz can assist you. So please sit back and relax, as our consultants will handle all visa-related queries.

Get in touch with us today for more information.

FAQs

Which authority will issue the reference letters for getting a property visa in Dubai?

Dubai Land Department.

Which authority will issue the trade license?

Department of Economic Development, Dubai

Which document is issued by Dubai Police for obtaining a property visa?

Certificate of Good Conduct.

What are the essential documents for the property investment visa in Dubai?

The necessary documents are as follows:

  • Original Title Deed/s
  • Original Passport
  • Current Visa Copy
  • 1 Passport Size Photo (white background)
  • NOC from Developer (for a 6-month visa).

Which type of property qualifies for the investor visa in Dubai?

Only Freehold and Ready properties qualify for the investor visas.

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