Residency for investment in the UAE when buying real estate

Recently, the government of the Emirates introduced legislative changes to the regulations governing the commercial activities of foreign citizens in the country, as well as the requirements for foreigners moving to the UAE for permanent residency. Now, many processes, including visa acquisition, have become simpler and more accessible. It is largely for this reason that interest in this Arab country has grown. People are relocating to the Emirates due to the high standard of living and favourable treatment of immigrants. The government supports business development and does not burden entrepreneurs with taxes. Moreover, the main metropolis of the country, Dubai, is among the safest cities in the world.

Content:

• Visas for real estate investments
• Advantages of long-term visas
• Types of residence visas for real estate buyers
• 2-year residence visa
• 5-year Golden Visa
• Relocate to the UAE with us

Visas for real estate investments

The process of obtaining UAE citizenship is exceptionally complex. Few would want to spend 30 years of their life on naturalisation, which, in turn, provides no guarantees.

For those intending to work or do business, or simply plan to relocate to the Emirates, residence visas offer a simpler way to obtain the right to legally reside in the country for an extended period. If you have been wondering how to get a residence visa in the UAE, a long-term investor visa is the fastest way to do so. One of the most common methods of obtaining such a visa is through real estate investment. Real estate in Dubai not only allows the owner to qualify for a residence visa but also generates tax-free income when rented out.

Depending on the amount invested in real estate, the duration of the visa ranges from 2 to 5 years. Even if you plan to start a business in Dubai or Abu Dhabi, a property owner’s visa will help you relocate to the UAE, allowing you to settle down and assess your options before starting your business. This visa is not only granted for an extended period but can also be renewed indefinitely, as long as the person owns the real estate that made them eligible in the first place.

Advantages of long-term visas

A long-term visa, which grants the person an Emirates ID (a document resembling a domestic Arab passport, serving as an identity card), endows its holder with a similar set of rights as a residence permit in European countries. Let’s enumerate these rights:

• The ability to stay in the UAE for an extended period;
• Unrestricted entry and exit from the UAE;
• Attainment of tax residency status;
• The ability to open an account with one of the Emirati banks;
• The opportunity to live, work, and conduct business legally;
• Access to the UAE’s education and healthcare systems;
• Obtaining visas for family members;
• Facilitated acquisition of Schengen visas and visas to the USA.

Please keep in mind the following:

• You cannot stay outside the UAE for more than 6 consecutive months if you do not possess a Golden Visa.
• Foreigners do not receive free healthcare, but emergency medical assistance is promptly provided and covered by the state.
• Obtaining UAE citizenship is possible through naturalisation or for outstanding contributions. Foreign women can marry a citizen and acquire citizenship after 7 or 10 years (depending on whether they have a child). This path is closed to foreign men.
• Visa extensions are possible as long as the conditions under which it was initially granted are adhered to.

Types of residence visas for real estate buyers

Since 2022, buyers of property in the United Arab Emirates can obtain two types of visas:

• 2-year regular visa;
• 5-year Golden Visa.

2-year residence visa

Previously, foreigners buying property in Dubai worth at least AED 1 million ($272,500) could obtain a 3-year visa with unlimited renewals. Now, the visa duration has been reduced to 2 years, but the minimum purchase price has been lowered to AED 750,000 ($204,000).

One can acquire multiple properties. If their cumulative value is AED 750,000, the owner is eligible for the visa. It is worth noting that property can be purchased on a mortgage to obtain a residence visa, provided the following conditions are met:

• More than 50% of the loan amount has been repaid at the time of application;
• The repaid amount must reach AED 750,000, meaning you can take a mortgage on a more expensive property, repay the specified amount, and then proceed to apply for the visa.

There are additional requirements for the applicant, failure to meet which may result in visa rejection:

• Some emirates require mandatory documents; for example, in Abu Dhabi and Dubai, medical insurance is mandatory.

5-year Golden Visa

The Golden Residency is a special programme launched in the UAE to attract talented individuals, outstanding figures, and wealthy investors. Today, by investing in real estate worth at least AED 2 million ($544,500), one can obtain a 5-year Golden Visa. Previously, the required value was much higher – AED 5 million ($1.36 million).

You can also use a mortgage to obtain this visa. Payment conditions for eligibility are similar to those for a 2-year visa – more than 50% of the loan repaid at the time of application, and the repaid amount must exceed AED 2 million.

Recent changes also allow holders of Golden Visas to:

• Stay outside the UAE for an unlimited duration; the previous 6-month rule no longer applies to visa holders;
• Purchase off-plan properties and still qualify for the visa.

Investments in UAE government bonds for the same amount, as well as exceptional achievements in science and the arts, allow you to obtain a 10-year Golden Visa.

Relocate to the UAE with us

Planning to relocate to Dubai with your family? Contact us through online chat or by phone, and we will help you find real estate in Dubai that suits your goals, facilitate a secure transaction, and assist in obtaining a long-term visa in the UAE!