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Individuals who have purchased a property for a minimum value of
Dh1 million are entitled to apply for residence visa in the UAE,
provided
such a property has been completed and
handed over to its owner by the developer.
Such a visa is valid for two years.
Five-year residence visa will be given to owners of UAE real estate
worth at least Dh5 million as long as ownership is not based on loans.
Renewable 10-year visas will be provided to foreigners with
investments in the UAE of at least Dh10 million, if non-real estate
assets account for at least 60 per cent of the total. Investors can
bring spouses and children into the country.
The amount invested shall be wholly owned by the investor and not
loaned, and should be proven by supporting documents. There should be
an investment retention for at least three years.
The long-term visa could also be extended to include business
partners, provided that each partner contributes Dh10 million, the
spouse and the children, as well as one executive director and one
advisor.
The rule allows investors to enter the country for a six-month period,
multiple entry, to apply for the long-term visa requirements.
Steps
The property owner initially has to approach the
Dubai Land Department along with
original passport, original title deed, NOC from the developer and
copy of current visa page (if any).
Based on the letter issued by the Dubai Land Department, you need to
thereafter approach the Dubai Police for issuance of
certificate of good conduct
and later to the Dubai
Economic Department along with the
relevant documents and apply for an investor licence.
Once the investor license is issued by the Dubai Economic Department,
you can approach the
GDRFA to apply for residence visa in
the UAE with aforesaid documents.
+ Once you obtain your residence visa, you are entitled to apply for
residence visa for your family under your sponsorship in
the UAE.
Two year
Multiple-entry Visa will be issued for expatriate property
owners, who meet the eligibility criteria.
+
This Visa can
be renewed, but the investor must remain out of the UAE for at least
one month.
Dependents' Visa:
Property visa holder can
sponsor his dependents on
residence visa.
+
The maximum
permitted stay at once is six months.
+
Visa
Fee: Dh13,000 (Approx)
+
The investors will need to meet a set of requirements:
Property Worth: The property
should be worth at least Dh1 million.
+
It should be ready for the investor to move in.
Monthly income: It should be
wholly owned by the investor and the investor must have a monthly
income no less than Dh10,000 or equivalent in foreign
currencies.
+
The apartment or villa must be comfortable to accommodate the family
of the investor.
+
The investor is required to obtain the title of the property from the
registration authority in the respective emirate, before he could be
granted the visa.
How to apply: You should
approach Land Department with all the supporting documents.
Documents Required:
+
Title Deed of the property
+
Police Clearance Certificate
+
Passport copy & Photo
Time: Visa approval will take
three weeks
Period of Visa: Two years
Send your queries to:
visaprocess.ae@gmail.com
Address:
Dubai Land Department
Bniyas Road, Deira, Dubai
Tel. +971-600-555556
Rental Dispute Center: 8004488
Timing: Sunday to Thursday from 7:30 am until 2:30 pm
Property Visa in other Emirates
Multi-entry residence visa for property owners is renewable every six
months and valid for properties in any emirate.
What is the difference between the residence permit and the
residence visa?
The residence permit and visa for property owners grants temporary
residency to qualified investors and their dependents on the basis of
property ownership. The principal difference between the two is that
the residence permit for property owners is renewable every two years
for properties purchased in Dubai, while the multi-entry residence
visa for property owners is renewable every six months and valid for
properties in any emirate.
Mandatory minimum investment threshold
To be eligible for either the residence permit or visa, properties
must be valued at more than Dh1 million. Mortgages are allowable for
the residence permit, but if the property is mortgaged a minimum 50
per cent of its original price must be paid off, or Dh1 million must
be paid off if the property’s value is more than Dh2 million.
Investment criteria
The investment property must be in a freehold area and entirely owned
by the investor, with the title deed issued in the name of the
applicant. Lease-to-own deeds are not accepted. Additionally, the
property must be ready for the investor to move in and its size must
be proportionate to the number of family members occupying it (if
applicable). If the property is owned by more than one investor, the
shared value must be more than Dh1 million, or a legalised marriage
certificate has to be provided if the investors are married.
Verification of the investment requirement is undertaken at the Dubai
Land Department for the residence permit and the relevant immigration
authority for the residence visa. Furthermore, there is a minimum
monthly income requirement of Dh10,000 or equivalent in a foreign
currency. The investor’s income source may derive from inside or
outside of the UAE.
Documents required
The standard documentation required to obtain either the residence
permit or visa includes copies of passports and current visas,
passport photos, police clearance certificates, title deeds, legalised
marriage certificates, attested bank statements, proof of health
insurance for applicants and dependents, and a Dewa bill. Both the
Dubai Land Department and the relevant immigration authority can
request additional documentation.
Points to note:
Important factors to take into account include the following:
+ Spouses and dependents are subject to fulfilling the dependents’
sponsorship criteria.
+ Sponsorship of domestic workers is allowable under the residence
permit. However, under the residence visa, sponsorship of domestic
workers is subject to approval from the relevant immigration
authority.
+ In-country medical examination is required for investors applying
for the residence permit.
+ Neither the residence permit nor the residence visa status leads to
citizenship.
+ Holders of the residence permit or the residence visa are prohibited
from working.
+ There is no maximum period of stay for both the residence permit and
the residence visa. However, residence permit holders should not stay
outside of the UAE for more than six consecutive months.
+ The Department of Economic Development issues an investor’s license
for every permit granted. The license is valid for four years and
renewable thereafter.
How much does it cost?
The residence permit costs about Dh13,000 in government fees.
If the investor sponsors dependents, there is an additional Dh3,000
deposit per dependent. Estimated government fees for the residence
visa are approximately Dh2,300 per applicant, which is the same
for each dependent, due every six months. (TN)
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Can the title deed under my wife's name be used as a valid document
to apply for her visa?
My wife and I have been living in the UAE for around four years under
our own respective employment visas. Her employment tenure at her
current company will come to an end soon and I will be sponsoring her
visa.
My salary is above Dh15,000 per month and we have a UAE-attested
marriage certificate. Recently, we purchased a one-bedroom apartment
under my wife's name. As she is the owner, we don't have any Ejari or
contractual agreement. We now want to live in our apartment. Please
advise weather I can sponsor her visa without an Ejari. Can the title
deed under her name be used as a valid document to apply for her visa?
Pursuant to your queries, you may consider one of the below mentioned
options to comply with the requirements to sponsor the residence visa
of your wife:
a) You may provide the title deed of the property owned by your wife,
affection plan of this property and copy of your legalised marriage
certificate, along with other documents to the General Directorate of
Residency and Foreigners Affairs in Dubai (the 'DNRD'), seeking the
approval of the DNRD for residence visa of your wife. Further, it is
recommended that your wife submits a letter to the DNRD, stating that
she has no objection as the owner of the apartment allowing her
husband to reside with her in the apartment; or
b) If you intend to apply for residence visa for your wife under your
sponsorship, your wife could rent her apartment to you, and upon
obtaining an Ejari tenancy contract, you may comply with this
particular requirement of the DNRD to sponsor the visa of your wife;
or
c) Your wife may obtain a residence visa against the property she
owns. Individuals who have purchased a property for a minimum value of
Dh1 million are entitled to apply for residence visa in the UAE,
provided such a property has been completed and handed over to its
owner by the developer. Such a visa is valid for two years. The
property owner initially has to approach the Dubai Land Department
along with original passport, original title deed, NOC from the
developer and copy of current visa page (if any). Based on the letter
issued by the Dubai Land Department, your wife needs to thereafter
approach the Dubai Police for issuance of certificate of good conduct
and later to the Dubai Economic Department along with the relevant
documents and apply for an investor licence. Once the investor license
is issued by the Dubai Economic Department, your wife can approach the
DNRD to apply for residence visa in the UAE with aforesaid documents.
THE LAW
Individuals who have purchased a property for a minimum value of Dh1
million are entitled to apply for residence visa in the UAE, provided
such a property has been completed and handed over to its owner by the
developer. (KT)
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