As you probably know, Dubai has turned into a major business hub in the Middle East in the past few years. UAE attracts a lot of property investors each year.
This is because this rich Middle Eastern city offers numerous benefits to the investors from all around the world. One of these benefits is getting Dubai residence visa. Read this to the end to know about it more.
The real estate market of Dubai is one of the biggest and wanted ones in the world. The success of Dubai in becoming a business hub is not accidental.
Exotic lifestyle, a diverse landscape, efficient road network, and Dubai’s reputation as a family-friendly destination make Dubai a highly desirable place not only to travel but also to live and work.
Besides, the family-friendly business environment, the all-time sunny weather, and Government support are key pillars to the success of Dubai Real Estate sector.
This is why investors from all around the world see Dubai as an attractive option for long-term investments. Good returns make investment in The UAE even more valuable.
Above all, most of the investors see investment in Dubai Properties as a tool to get Dubai Residence Visa. Here are some tips to get Dubai Residence Visa as easily as possible.
The property ownership rules are different in each Emirate of The UAE. To get the residence visa, the investors need to own a property in freehold areas. Dubai sits high in the list of foreign property ownership in the UAE.
Let’s look at some of Dubai’s most popular areas to buy a property:
Palm Jumeirah: Palm Jumeirah is probably the most exclusive location of Dubai. It is the largest man-made island the world that offers highly unique projects. 22 Carat Villas and One Palm Apartments are among these projects that help you get Dubai Residence Visa.
Dubai Marina: Dubai Marina also is one of these sought-after areas of Dubai where the residents enjoy waterfront living at its best. Marina Gate and Damac Heights Apartments in Dubai Marina pave the way for you towards getting Dubai Residence Visa.
Downtown Dubai: Downtown Dubai is Dubai’s high-end location that offers the best of cosmopolitan living to the residents. IL Primo and Opera Grande Apartments are located in Downtown Dubai. Investing in these projects makes you closer to Dubai Residence Visa.
The World Island: The World Island is one of the most iconic neighbourhoods in Dubai with a number of unique and exclusive projects. The Floating Venice Residences is one of the most hoped-for projects in this area. You can invest in this project and enjoy the benefits that UAE Residency brings you.
The UAE offers several types of visa to those who invest in real estate market of The UAE_ two-year renewable visa, 5-year residence visa, and also 10-year residence visa.
Each kind of visa requires special situation. For instance, the duration of visa depends on value of the property you purchase.
The value and type of property are so important that you should keep in mind when your purpose is Dubai Residence Visa. Here are some important notes:
*You should pay attention that the purchase price on the title deed is more important than the current property value when applying for the visa.
*If the property is joined owned (husband and wife) the shared value must be more than AED 1million.
*Visas for off-plan properties are not possible. The property must be ready to move and livable.
*Only residential properties are allowed for the purpose of Dubai Residence Visa. Commercial projects are not permitted.
*To get Two-year Property Investor Visa, the property value must be more than AED 1million.
*The Property Investor Visa will make you eligible to live like a UAE resident. For example, you can apply for Emirates ID, Driving License, mobile, etc.
*Also, you can sponsor dependents and enjoy the high-class lifestyle of Dubai for the certain time stated in the visa.
To improve the economic growth and foreign investment, the UAE government has introduced the long term residence visa option for 10 years and 5 years.
*Investors and specialists such as doctors and engineers can easily receive Dubai Residence Visas for ten years. Also, they are allowed to sponsor families and dependents.
*Besides, the holders of 10- year visa can extend their stay in Dubai. This is to attract foreign investment, invite a fresh pool of talent, and open up the opportunity for residents to invest in property.
*If you purchase a property priced at 5million AED and above, you will be eligible for a 5-year visa.
*The property cannot be purchased with loans of any time, and the investment must be retained for a period of at least 3 years under standard liability.
*The five year visa allows you to sponsor dependents, hire domestic staff & drivers, and live the high standard life of Dubai for a longer time. There is no time limit that you must stay in Dubai.
