2-year real estate investor visa Dubai
Investing in UAE real estate offers a golden opportunity for ambitious investors looking to secure a bright future for themselves and their families in the short term. The UAE provides all the necessary support and incentives for investors, particularly in the bustling city of Dubai. The advantages of real estate investment in Dubai are on par with, if not surpassing, those of other cities. Dubai offers political, social, and economic stability, along with a wealth of business facilities, skilled labor, diverse incentives, and much more. These factors make Dubai a top choice for real estate investment, leaving investors with no second thoughts about taking this step.
An Overview of the 2-year Real Estate Investor Visa Dubai System
The 2-year Real Estate Investor Visa Dubai system was announced by the Dubai Land Department in September 2021. It enables investors to obtain a renewable two-year residency visa with the option to sponsor their spouse and children. To qualify, investors must meet specific criteria, the most important of which is owning property in Dubai valued at AED 750,000 or purchasing property of the same value through legal procedures. The previous value requirement was one million AED. The goal is to stimulate the real estate market in the emirate, enhance the local investment environment, strengthen its immunity, and attract investors on a broader scale. Thus, the answer to the question “Does buying property in Dubai grant residency?” is a resounding yes.
Required Documents for Obtaining a 2-year Real Estate Investor Visa Dubai
Applicants for the real estate investor residency must provide the following documents:
- Valid passport
- Electronic copy of property ownership certificate
- Passport-sized photograph
- Health insurance
- Emirates ID (if applicable)
- Copy of the current residency or entry visa (if applicable)
- Certificate of good conduct addressed to the Dubai Land Department
- Proof of ownership or a legally binding agreement
Residency Conditions in Dubai
As mentioned earlier, the primary condition for obtaining real estate investor residency in Dubai is owning property valued at AED 750,000 or more. If the property is mortgaged, one of the following conditions must be met:
- The property owner must have paid 50% of the property’s value to the bank.
- A no-objection letter from the bank allowing residency on the property must be submitted along with the mortgage statement.
In addition to the above, family residency can be obtained if the following conditions are met:
- A no-objection letter from the father, duly certified by a notary public if the mother is the sponsor.
- Children must be over 18 years old, and a no-marriage certificate is required.
- Original ID and passport of the sponsor.
- Recent passport-sized photographs as per UAE ID requirements.
- Health insurance and certified marriage contract and birth certificates for children (male and female).
- International account number (IBAN).
The national ID is required for citizens of Iran, Pakistan, Libya, Iraq, and Afghanistan.
Moreover, parents can obtain one-year residency if they meet the following conditions:
- National ID for citizens of Iran, Pakistan, Iraq, Libya, and Afghanistan.
- Original ID and passport of the sponsor.
- A financial support certificate, duly certified by the consulate.
- Passport-sized photograph and certified birth certificate.
Eligible Categories for Dubai Real Estate Investor Residency
All investors can apply for the two-year real estate investor residency in Dubai if they meet all the conditions. Additionally, spouses who jointly own property worth AED 750,000 can apply for residency, provided they present a certified marriage contract.
How to Apply for Residency in Dubai When Buying Property
To secure a two-year investor residency in Dubai, follow these steps:
- Submit your application directly at the Dubai Land Department’s main branch, along with a copy of your passport and an electronic copy of the property ownership certificate.
- Location: Cube Tower, Qusais
- Working Hours:
- Monday to Thursday: 8:00 AM – 2:30 PM
- Friday: 8:00 AM – 11:30 AM
Steps to Obtain a Dubai Investor Visa
As for the steps to obtain a real estate investor residency in Dubai, they include:
- Submit your application at one of the service centers.
- Fulfill all the service requirements.
- Pay the Dubai real estate investor residency fees.
- Undergo a medical examination at the designated center.
- Have your residency permit stamped and printed in your passport.
Dubai Real Estate Investor Residency Fees
The fees for Dubai real estate investor residency are as follows:
- Property Owner Residency in Dubai: AED 10,027
- Family Residency:
- Wife: AED 6,901
- Daughter over 18 years: AED 6,901
- Children under 18 years: AED 6,201
- Son over 18 years (for one year only): AED 6,701
- Husband (for one year only): AED 6,701
- Parents (for one year only): AED 8,701
- Family sponsorship file opening fee: AED 318.75