Undoubtedly, many people are now opting to invest in the real estate market in Dubai. The industry seems to be promising great opportunities as the city attracts more and more tenants. The safe economic environment and job prospects have led many people to decide to settle in the city. However, high returns are not the only reason people pursue investments. Some are aware that investing in the field can also lead to obtaining a property visa.
Who is Eligible for the Property Visa?
You might be wondering if anyone who invests in a property market is eligible to get a visa, but there are actually certain conditions that need to be met. Here are more details regarding this matter:
- Unfortunately, buying an off-plan property is not going to help you get the type of visa. You need to be a proven owner of a 100% ready house, villa, or apartment. In addition to that, there should be no disputes surrounding the property.
- The value of the property at the time of purchasing t should not be less than 750,000 or above.
- You must have paid off a 50% mortgage and be mentioned as the property owner.
- You can own a property visa for purchasing a residential or commercial property.
- In the case the property is owned by multiple partners, each individual can apply for a Dubai investor visa as long as their share in the property is AED 750,000 or above in purchase value.
- If the owners are a husband and a wife, both can apply for a UAE investor visa, even if the total purchase value of AED 750,000 is divided between them.
Types of Property Visa
As we mentioned before the property value should be 750,000 or above to be able to get a property visa, this can vary according to the type you are looking for:
6-Month Visa (Multi-Entry):
- Allows multiple entries within the UAE for six months.
- Applicable for properties worth 1 million AED or more across all seven emirates.
- Issued by immigration authorities, no need to contact Dubai Land Department.
3-Year Property Visa UAE:
- Requires investment in a property worth 750,000 AED or more.
- Issued by Dubai Land Department.
- Offers benefits such as residency, family sponsorship, Emirates ID, and driving license.
5-Year Property Visa:
- Available for investors who purchase a property worth 2 million AED or more.
- Requires holding the investment for a minimum of five years.
- Allows family sponsorship.
- Eligible for investing more than 10 million AED in the UAE, with 40% allocated to the property.
Benefits of Getting a Property Visa?
You are probably now thinking why people opt for the property visa instead of other kinds of visa. In fact, a property visa holds a lot of benefits for both homeowners and investors.
Benefits of Property Visa for Homeowners:
A property visa can turn your house into a home! It grants you the right to sponsor immediate family members, including spouses and children, for a residency visa. By doing so, you can rest assured that they are enjoying Dubai’s safe lifestyle under your care, with access to top-notch education and healthcare centres.
A Better Sense of Security
When you own a property in Dubai, you provide your family with a stronger sense of belonging. They feel like they have a true home and can enjoy the security of a permanent residence. This not only allows them to thrive in their surroundings but also opens up opportunities for a better life and lays a solid foundation for their personal and professional growth.
Quality of Life:
Dubai has an exceptional level of life, distinguished by opulent amenities, cultural variety, and a wide range of leisure opportunities. The city’s gorgeous skyline, beautiful beaches, and outstanding shopping and dining experiences are all within walking distance of homeowners’ homes.
Benefits of Property Visa for Investors:
Living in an Investor-Friendly Environment:
Dubai’s business-friendly policies, tax incentives, and world-class infrastructure make it an attractive destination for investors. The property visa program further reinforces this investor-friendly environment, creating a conducive atmosphere for wealth creation and long-term financial growth.
Dubai’s property visa provides access to several commercial prospects both within the city and throughout the United Arab Emirates (UAE). Beyond real estate, investors might pursue endeavours such as forming corporations, partnerships, or startups, all of which contribute to Dubai’s thriving economy.
To conclude, obtaining a property visa in Dubai offers numerous benefits for both homeowners and investors. While owning property in Dubai may require a significant investment, the returns and advantages are well worth it. From providing a sense of security for your family to accessing lucrative business opportunities in a dynamic and progressive city, the benefits are vast. Have you ever considered applying for a property visa? If so, why? Are there any additional benefits you would like to add to our list? Please share your thoughts in the comment section below. We look forward to hearing from all of you.