Investor Visas
DUBAI REAL ESTATE INVESTOR VISA
One of the major growth drivers of the Dubai economy has always been the real estate sector. The Dubai government has consistently introduced and implemented policy initiatives and measures to further improve this sector to retain investor confidence and increase foreign direct investment.
Among the various new visa initiatives recently launched, the five-year property investment visa has drawn a lot of attention from investors as the key pre-criteria for a residency visa application is a minimum investment of AED 5 million in the real estate sector. Investors are currently entitled to apply for a three-year property investment visa, which is facilitated through the Cube center at Dubai Land Department, subject to a minimum investment of AED 1 million in acquisition of the property
WHAT ARE THE VISA TYPES?
• The 6-month multi-entry visa
• The 3-year residence visa
• The 5-year long-term residence
• The 10-year long-term residence visa
• The 6-month multi-entry visa
It is much like having a tourist visa, but with the ability
to make multiple en-tries over a six month period.
Unlike the three-year property investor visa, this
visa is available for any property worth over AED 1
million in any of the seven emirates, and as such, is
issued by the relevant immigration authority, not by
the Dubai Land Department.
THE 3 - YEAR RESIDENCE VISA
This visa is issued by the Dubai Land Department for those who have invest-ed in a property in Dubai that is valued at over AED 1 million. With it, you are eligible to be a UAE resident and receive the associated elements including an Emirates ID, driving license and fam-ily sponsorship. This visa would cost around AED 13,000- AED 15,000 and is valid for three years which could be far more convenient. It is worth also noting that those with this visa cannot spend a consecutive six months outside of the country
THE 5 - YEAR LONGTERM RESIDENCE VISA
Those who invest 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 a period of at least 3 years. Those with this visa can also sponsor their family and dependents.
THE 10 - YEAR LONGTERM RESIDENCE VISA
This visa is available to those who provide a minimum investment of AED 10 million, of which 40% in real estate. The investors will have to prove that the amount invested is not loaned and will have to retain the investment for at least three years. Investors with a 10-year visa can include sponsorships for an executive director and an advisor apart from their children and spouse. This visa can also be extended to business partners if each contribute an investment amount of AED 10M.
TERMS AND CONDITIONS
• Property Value should be AED 1,000,000 (USD $270,000) or more (purchase price and NOT the current market value of the property).
• Only Freehold and Ready properties qualify for the investor visas.
• Residential apartments, Serviced Apartments, Hotel Apartments, Villa & Townhouses, Offices and Warehouses are all acceptable for an investor visa.
• Off Plan, Leasehold, disputed properties, and land-plots are not acceptable for investor visas.
• You can still apply for a visa even if property is mortgaged, as long as the minimum needed investment is met (AED 1,000,000); An NOC from the bank has to be submitted along with the application file.
• In case of multiple properties (Up to 3) with a total value of AED 1 million or more, the investor still 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) then you are entitled to apply for an investor visa. An attested marriage certificate to be attached.
• There is a minimum income requirement of AED 10,000 per month (or equivalent currency), which can be derived from inside or outside the UAE. The applicant must provide proof of income as part of the criteria.
• Only Freehold and Ready properties qualify for the investor visas.
• Residential apartments, Serviced Apartments, Hotel Apartments, Villa & Townhouses, Offices and Warehouses are all acceptable for an investor visa.
• Off Plan, Leasehold, disputed properties, and land-plots are not acceptable for investor visas.
• You can still apply for a visa even if property is mortgaged, as long as the minimum needed investment is met (AED 1,000,000); An NOC from the bank has to be submitted along with the application file.
• In case of multiple properties (Up to 3) with a total value of AED 1 million or more, the investor still 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) then you are entitled to apply for an investor visa. An attested marriage certificate to be attached.
• There is a minimum income requirement of AED 10,000 per month (or equivalent currency), which can be derived from inside or outside the UAE. The applicant must provide proof of income as part of the criteria.
• Title Deed on the property
• Passport copy of the applicant
• Current visa status/copy
• Passport photos (x6)
• Certificate of Good Conduct
(from Dubai Police)
• Bank Statements
• Utility Bill
• Health Insurance
The property owner initially visits the Dubai Land Department with their original passport, original title deed, and copy of current visa page (if any) and request a reference letter to
submit at the Dubai Police. Based on the reference letter issued by the Dubai Land Department (DLD), they will then need to submit an application with the Dubai Police for the
issuance of a Good Conduct Certificate.Once these steps are completed, all relevant documents are submitted to the Dubai Economic Department to apply for a trade license.
The investor license is then issued by the Dubai Economic Department (DED), and the applicant can submit a request to the General Directorate of Residency and Foreigners Affairs (GDRFA) to apply for the residency visa in the UAE. Once the sponsor obtains their residency visa, they are entitled to apply for residency visas for their family members under their sponsorship in the UAE.
The investor license is then issued by the Dubai Economic Department (DED), and the applicant can submit a request to the General Directorate of Residency and Foreigners Affairs (GDRFA) to apply for the residency visa in the UAE. Once the sponsor obtains their residency visa, they are entitled to apply for residency visas for their family members under their sponsorship in the UAE.
VISA FEE STRUCTURE
The Property Investor Visa costs approximately AED 13,000 to AED 15,000, which includes the following:
• The Dubai Police Good Conduct Certificate (AED 220)
• Administration fees (AED 420)
• Application costs (AED 3,000)
• Typing and entry permit (AED 1,100)
• DED license issuance (AED 8,440)
• Visa stamping/Emirates ID/Medical Test (AED 2,490)
• Visa Renewal and family sponsorships also need to be accounted for (AED 5,000 to AED 6,000 each)
• The Six Month Residency Visa costs considerably less (approximately AED 2,300).
• However, this visa must be renewed every six months (AED 1,100 each time) so it can still add up.
• Again, fees apply for sponsorship of family and renewals (AED 250 each).
APPLICATION LOCATION
One of the major growth drivers of the Dubai economy has always been the real estate sector. The Dubai government has consistently introduced and implemented poli-cy initiatives and measures to further improve this sector
to retain investor confidence and increase foreign direct investment.
Among the various new visa initiatives recently launched, the five-year property investment visa has drawn a lot of attention from investors as the key pre-criteria for a residency visa application is a minimum investment of AED
5 million in the real estate sector. Investors are currently entitled to apply for a three-year property investment visa, which is facilitated through the Cube center at Dubai Land Department, subject to a minimum investment of
AED 1 million in acquisition of the property
GOLDEN VISA
The UAE introduced the Golden Visa, which is long-term residence visa which enables foreign talents to live, work or study in the UAE while enjoying exclusive benefits. These benefits include:• An entry visa for six months with multiple entries to proceed with residence issuance
• A long-term, renewable residence visa valid for 5 or 10 years
• The privilege of not needing a sponsor
• The ability to stay outside the UAE for more than the usual period of six months in order to keep their residence visa valid
• The ability to sponsor their family members, including spouses and children regardless of their ages
• The ability to sponsor unlimited number of domestic helpers
• The permit for family members to stay in the UAE until the end of their permit duration, if the primary holder of the Golden visa passes away.
To qualify for a 5-year Golden Visa via real estate investment, you simply need to own one or more properties with a total value of AED 2 million. If you have a mortgage on a property, then your total equity must be at least AED 2 million.
RETIREMENT VISA
The Dubai retirement visa program is a project by the Dubai Tourism and General Directorate for Residency and Foreigner Affairs (GDRFA). The program was introduced to help expats and foreigners enjoy the unique benefits of living in the UAE after retirement. The visa is valid for 5 years.Requirements:
• The applicant has to be 55 years of age or older or have at least 15 years or more in the country.
• The applicant must have AED 15,000 monthly income, OR AED 1 million in savings in a three-year fixed deposit, OR at least AED 1 million worth of property in Dubai.
• A combination of income and savings valued at least AED1 million in a 3-year fixed deposit and a property worth AED 500,000.