You can easily get a residence visa by investing in Dubai’s property market. There are some excellent and very lucrative investment options to choose from, the investment threshold is relatively low compared to other major cities around the world and the process is quite straightforward too. In our guide, we show you how you can get an investor’s visa in Dubai and be a part of this thriving global hub.
In order to obtain an investor’s visa in Dubai, you must purchase a freehold property in Dubai, whether an apartment, villa or townhouse. The exact criteria for investment are as follows:
- The property must be worth a minimum of AED 1 million
- The property has to be purchased, with a title deed issued by the Dubai Land Department
- The property cannot be a gift or a bequeathment
- The property must be in a freehold area, it cannot be leased to the owner
- If the property is mortgaged, 50% of the price must be paid off and there should be a loan statement from the bank and a NOC
- Spouses can own a property together, as long as they provide a valid marriage certificate
If you meet all of the above criteria, the visa application process is quite simple. All of the relevant documentation must be submitted to the Economic Department to register for a property license. Approval for the license is granted in less than 30 days (ideally, it shouldn’t take more than 10 days to get a notification for approval).
Once you have approval, the licensing process goes into effect. You will have to submit the original title deed of the property so it can be officially linked with the license. An entry permit will be obtained, following which you will get the actual visa. The property investor visa has a validity of 2 years and is renewable.
In the event that you have to travel during the visa application process, you can provide a power of attorney, mentioning that you are appointing a representative to manage the visa process for you until your return.
The following will have to be submitted to start off the visa process:
- Copy of title deed
- Copy of passport
- Photograph of applicant (6 x 4)
- Copy of current valid visa
You will also require a Good Conduct Certificate from the General Department of Criminal Investigations at Dubai Police Headquarters – you will be notified when this needs to be obtained.
If you are mortgaging a property, then you must provide an NOC from the bank, typed in Arabic and submitted alongside a stamped loan statement from the same bank.
This is the easiest way to invest in Dubai and get temporary residence. Long term five and ten-years visas have been introduced earlier this year, which we have covered in a few of our previous blog posts. For further information on investor visas and about making the perfect investment in Dubai, please contact our private client advisory team and we would be glad to assist you.