- Investor visa in the UAE
- Gold visas in the UAE for investors
- Types of long-term visas
- Who else can become a resident
- Where to apply for a visa
- Visa application process
- We will help you get a visa and buy real estate in Dubai
INVESTOR VISA IN THE UAE
Resident visas to the UAE have become an additional incentive for foreign businessmen working in the UAE and planning to reside there permanently. 4 categories of people can get into the Golden Visa program: entrepreneurs, investors, prominent figures, and students. In this article, we will consider the options that are appropriate for the first 2 categories of foreign nationals.
GOLDEN VISAS TO THE UAE FOR INVESTORS
To freely stay, do business, and invest in the United Arab Emirates, it is necessary to apply for a "golden card". Let’s talk more about the types and conditions of obtaining resident visas for investors.
TYPES OF LONG-TERM VISAS
There are 2 types of long-term visas:
- Long-term visa for 5 years;
- Long-term visa for 10 years.
You can get them if the conditions set by the UAE government are met.
It is issued to investors and entrepreneurs for the purchase of real estate in the UAE. At the same time:
- The housing price must be at least AED 5,000,000 ($1,361,210);
- This property must be bought without credit;
- It must be owned for 3 years.
Such real estate must be purchased without credit, such as a mortgage or other loan.
It is important to know that real estate must be bought in a freehold zone. The investor's relatives also have the right to apply for a long-term visa for 5 years.
The Government of the UAE imposes stricter requirements on persons applying for visas of this type. An important difference between a 10-year resident visa is investments in state-owned enterprises for AED 10,000,000 ($2,722,421) and more. Family members and partners can get a golden visa, provided that the latter contribute at least AED 10,000,000 to the country's economy.
- Participation in public investments through a deposit;
- Opening a company;
- Business partnership with a total contribution of AED 10,000,000;
- Total value of shares from AED 10,000,000;
- The total volume of investments in each of the above-mentioned areas, including real estate, should be at least AED 10,000,000. The funds are distributed in the following proportions: 60% - deposits in business and shares + 40% investments in real estate.
Conditions for obtaining a visa:
- The investor should use his capital without drawing on credit;
- Investments must be saved for 3 years;
- The financial solvency of the investor is up to AED 10,000,000.
A 10-year visa remains valid as long as the recipient continues to fulfill the necessary conditions.
These visas are suitable for entrepreneurs who do business in the UAE but have no interest in long-term residence or do not have sufficient capital turnover. Renewable visa requirements are more loyal and less costly.
Multiple-entry visas allow an investor and his family to reside and invest in any of the seven emirates. To date, one of the most profitable residential real estate options are apartments in new buildings in Dubai. It is where foreign entrepreneurs are most likely to invest.
Important! A spouse and children can apply for a family visa which will be linked to an investor visa. Breadwinners traveling to the UAE with children but without a spouse will be denied a visa for children. The exception is the death of his wife.
This is an extended guest visa; available to investors for the purchase of real estate for AED 1,000,000 ($ 272,242) and more. Along with the buyer, his spouse and dependent children can get a visa.
Conditions for obtaining a visa:
- The property price is not less than AED 1,000,000;
- The housing unit must be residential (commercial premises are not suitable) and ready to move in;
- Buying off-plan properties is not allowed;
Important! A 6-month visa is intended for visiting and living in the country, it does not give the right to work in the UAE. To renew a visa, upon expiry of the visa, you must leave the UAE and re-enter.
The cost of registration is $900.
The renewal price is $300.
A 2-year renewable visa gives the investor a wider range of rights. A foreigner with a visa permit, in addition to legal residence in the country, receives an ID Emirates - an identity card, a driver's license and family sponsorship.
Conditions for obtaining a visa:
- The housing price is not less than AED 1,000,000;
- The property must be ready to move in. The purchase of properties under construction is not allowed;
- The purchase was made without a mortgage;
- The monthly income of the owner is from AED 10,000 ($2,722).
The visa can be extended if:
- After 2 years, the property is still owned;
- The conditions of visiting the country have not been violated at least once in 180 days.
A visa permit does not imply obtaining citizenship, does not give the investor the right to work in the state, and it must be renewed every 2 years.
It is important to know that in order to obtain a visa for 6 months and 2 years, it is necessary to invest in residential real estate. Commercial housing under construction is not suitable for such purposes.
The cost of registration is from $3,500 to $4,000.
The renewal price is $3,000.
WHO ELSE CAN BECOME A RESIDENT
In addition to investors and entrepreneurs, the following groups of persons can obtain a resident visa:
- Outstanding figures in the field of science, health, art, and technology;
- Spouses, children, parents, and everyone who is dependent on a specialist;
- Students for the period of education;
- Employees of large companies.
Mohammad Al Marri, Director General of the General Directorate for Residents and Foreigners, announced the extension of 10-year resident visas for investors and prominent foreigners. According to him, it will attract more talented people such as highly qualified medical workers, innovative technologies, and other developing scientific aspects, and will also stimulate the state's economy to further develop.
Since the introduction of resident visas in 2019 until 2021, the economy of the UAE, and in particular Dubai, has benefited from capital inflows from abroad, supported by thousands of entrepreneurs and real estate buyers. According to Gulfnews, about 8,000 golden visas have been issued since 2020. Today, their numbers continue to rise.
WHERE TO APPLY FOR A VISA?
You can apply for a visa or permission to enter the United Arab Emirates on the official website of the Federal Authority for Identity and Citizenship – ICA.
The second option is to contact the General Directorate of Residency and Foreigners Affairs - the Main Directorate for Residence and Foreigners. Here you can apply in remote and offline format.
VISA APPLICATION PROCESS
You can apply for an investor visa in the UAE or use the services of visa centers. The investor must provide the following documents:
- International passport and copies of all its pages;
- Certificate that confirms ownership of the property;
- Copy of a valid visa (if available);
- Six 3.5 * 4.5 photos;
- Statement of account status;
- Document that confirms a monthly income of at least AED 10,000;
- Medical insurance;
- Paid utility bills;
- Completed visa application form.
First of all, the investor should contact the Dubai Land Department with the necessary documents.
After this, the employees of the Department send a letter of recommendation to the investor that is then sent to the Dubai Police. On the basis of this letter, the police provide a certificate of a criminal record.
The next step for an investor is to contact the Dubai Department of Economics to apply for a license.
After the investor has been granted a license, he must apply to the General Directorate of Residence and Foreign Affairs in order to apply for the type of residence visa he needs.
We will help you get a visa and buy real estate in Dubai
Do you dream of buying an apartment in the dazzling skyscrapers in Dubai or do you want to buy a luxury villa in Dubai in one of the new residential areas of the metropolis? Our staff will not only help you choose and buy real estate but also tell you how property owners can get an investor visa in Dubai. If you contact us right now, tomorrow you can get various profitable real estate offers on the Persian Gulf coast!