Property Investor Visa UAE

If you are considering moving to the United Arab Emirates or extending your stay beyond the duration allowed on a tourist visa, obtaining a resident visa is crucial. One popular avenue to obtain a residence permit in the UAE is through property investment. This option is suitable for individuals who desire to own a home, enjoy resident privileges, open a bank account, provide education for their children, make investments, or simply relish the warm climate, security, and exceptional comfort offered by the country.

If you are considering residency in the Emirates based on real estate ownership, this comprehensive article will provide invaluable insights into the various types of investment visas, their distinctive features, and the conditions for obtaining them.

Obtaining a residence visa in the UAE based on property ownership in 2024

Investing in real estate in the Emirates allows you to apply for a residence visa valid for 2, 5, or 10 years, depending on the value of the property. Let us delve into the specifics of each investment visa.

UAE Golden Visa

The UAE's Golden Visa is an excellent option for individuals with substantial investment capabilities. This visa grants a 10-year residency, allowing you to reside in the Emirates for as long as desired without the requirement to spend six months in the country annually. In addition, it enables you to obtain long-term visas for family members and personal assistants. Notably, holders of the Golden Visa can enjoy a range of benefits, including priority enrollment for their children in prestigious educational institutions across the UAE.

Key details about the Golden Visa

Required property value: To qualify for the Golden Visa, an investor must purchase a property valued at a minimum of AED 2 million ($550,000). It is possible to acquire up to three properties across different Emirates, provided that the total value is not less than AED 2 million, with a Title Deed for each property.

Minimum loan amount: The property can be mortgaged. However, the investor must get a bank loan of at least AED 2 million.

Completion Status: The construction must be at least 50% complete.

Property ownership: The right to reside in the UAE under the Golden Visa is linked to property ownership. If the property is sold, the visa will be revoked.

Proof of stable income: In addition to the property purchase, proof of a permanent source of income must be provided to obtain the Golden Visa.

Golden Visa cost

• The registration of the property incurs a state fee of 4% in Dubai and 2% in Abu Dhabi, shared between the seller and the buyer.
• Visa and Emirates ID (identity card) issuance fees amount to AED 2,707 and AED 1,153, respectively, per person.
• Health insurance starts from AED 800 per person.
• Medical examinations, starting from AED 700 per person, are required.

Obtaining and renewing the Golden Visa in the UAE: Procedure

• Preliminary passport assessment to evaluate visa eligibility (1 day).
• Document preparation and visa application for a six-month visa. This stage typically takes 5 to 7 weeks.
• Property selection, with assistance from Emirabiz brokers who can help identify suitable properties. Lawyers will facilitate the transaction process. This stage usually takes about 5 to 6 weeks.
• Purchase and payment for a property valued at a minimum of AED 2 million. Additionally, the state fee for property registration must be paid.
• Obtaining the Title Deed for completed properties or a Temporary Certificate of Registration (Oqood) for properties under construction.
• Undergoing a medical examination, which includes tests for infectious diseases and fluorography for all family members above the age of 18 at a clinic in the UAE. This step typically takes 1 to 5 days.
• Arriving in the UAE to complete the visa process and provide biometric data. This stage generally takes up to 30 days, with document review taking approximately 5-7 days.
• The visa application is reviewed by the Land Department within approximately two weeks. Once approved, the investor receives an electronically issued Golden Visa and a plastic Emirates ID card.

To ensure automatic visa renewal, the investor must maintain ownership of real estate valued at a minimum of AED 2 million at the time of visa expiration. Additionally, a second medical examination and renewal of medical insurance are required.

Two-Year Investor Visa

If you do not meet the investment threshold required for the Golden Visa ($550,000), but still wish to purchase property in the UAE and obtain a resident visa, the Two-year Investor Visa option is worth considering.

You can apply for a Two-year Investor Visa by purchasing a completed property valued at a minimum of AED 750,000 ($205,000). If you invest in an under-construction property, you can apply for a residence visa after the facility is delivered or, in some cases, closer to the completion of construction. Further details regarding the requirements are outlined below.

Two-Year Investor Visa requirements

• Ownership of real estate in the UAE valued at a minimum of AED 750,000 (or $550,000).
• If the property is mortgaged, a No Objection Certificate (NOC) from the bank/developer and a bank statement indicating the paid and remaining loan amounts must be provided.
• For jointly-owned properties, both spouses must have equal ownership interests. If ownership interests differ, the primary visa holder will be the individual with the larger share, and the other party may be sponsored as a spouse.

Required documents

• Proof of property ownership worth at least AED 750,000.
• Clear copy of a passport valid for more than 6 months.
• Copy of the previous Emirates ID card (if applicable).
• High-quality digital photo.
• Health insurance from any insurance company in the UAE.
• Reference from Dubai Police.

Five-Year Retirement Visa

The UAE Retirement Visa presents an excellent opportunity for expatriates residing in the Emirates, aged 55 and above, to extend their stay in the country even after retirement. If you are not living in the UAE and considering moving there after retirement, you can also apply for this type of visa. Eligible candidates can obtain a long-term residence visa for five years with the possibility of extension.

Conditions for getting a Retirement Visa

To qualify for this visa, the following conditions must be met:

• Attain the age of 55 and have a minimum of 15 years of work experience in any country.
• Purchase real estate in the UAE valued at AED 1 million or more.
  and
• Have a fixed deposit in a bank amounting to at least AED 1 million.
  or
• Have a stable income of AED 180,000 or more per year, verified by a six-month bank statement.

Once the Retirement Visa is obtained, family members (spouse, unmarried children) can also qualify for a five-year residency in the UAE.