Dubai Visa through Property Ownership


The subject of investing in Dubai’s real estate is on every tongue now, and one of the most-asked questions about the benefits of this type of investment is about residency visas and the possibility of obtaining them by buying a home in the emirate.

dubai-visa-through-property-ownership

In efforts to encourage foreign investors and further activate the real estate industry, the Government of Dubai has made it easier for real estate owners in Dubai to get visas. Auric Acres breaks down the know-hows of getting a visa in Dubai through property ownership.

There are two types of visas available for property owners in Dubai:

6-month multi-entry

6-month-multi-entry-visa-dubai

Conditions:

  • Property must be worth more than AED1 million for one property owner.
  • Properties with multiple owners must cost AED1 million per shareholder.
  • Property must be finished and suitable to live in.
  • Must be renewed every 6 month.
  • Is considered to be a visit visa, so the individual cannot work in the UAE, and neither can his dependants.

Costs:

  • 1,100AED renewal fee every 6 months.

Sponsorships

  • sponsorships for family members are available at a cost of 250AED and must be renewed every 6 months.

2 years residency

Conditions:

  • Property must be worth more than AED1 million for one property owner.
  • Properties with multiple owners must cost AED1 million per shareholder.
  • Property must be finished and suitable to live in.
  • No mortgages allowed.
  • Must be renewed every 6 month.
  • Is considered to be a visit visa, so the individual cannot work in the UAE, and neither can his dependants.
  • A monthly income of 10,000AED or more to be paid to the owner’s account.

Costs:

  • Property visa fee of 1,100AED and an administration fee of 400AED.
  • Investor trade licence for 2,000AED.

Sponsorships:

  • The property-owner with an investment visa can sponsor their family members at a cost of 6,000AED per member.
  • Maids cannot be sponsored in this case.

Required documents

Following documents are required to obtain a visa through property ownership:

  • Title Deed
  • Contract of sale and purchase
  • Passport copy
  • Current visa copy (tourist or visit)
  • 6 photographs (passport size)

Now that you know the visa options you have, it is time to start considering a property purchase in Dubai!

Latest projects in Dubai : http://www.auric-acres.com/category/dubai/

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