If you are planning to move to Dubai for work purposes or a chance at a better life, then procuring long-term visas is paramount. With the huge variety of residency visas available, foreign citizens have never had it better than now to move to the city. Let us get to know these visas better and find out the requirements you need to fulfill to be eligible for them.
Types of Residence Visas through Property Investment
Investing in Dubai’s real estate not only gives you access to a high-quality urban life but also opens the doors for foreigners to explore, study, work, and live in the city on a long-term basis. The Government of UAE has taken formidable initiatives to foster healthier relationships with foreign nations and part of those initiatives is offering residency visas.
Tying up the real estate sector of the city with long-term residency visa options has helped merge two of the most aspired interests for any foreign nationality interested in living in Dubai. With the interests of foreign nationalities in mind, the residence visa for property owners in Dubai has been designed to make the immigration process for them more convenient and easy.
2-year Investor Visa
If you own a property in Dubai that is worth at least AED 750,000, then you will be eligible to apply for a 2-year investor visa that is renewable on expiry. Additionally, the spouse along with the children of the applicant can also be sponsored. This, along with the other types of visas mentioned in this article, facilitates foreigners to buy properties in Dubai as they serve multiple functions.
To avail of this, an applicant has to head to a service center of the Dubai Land Department (DLD), submit all the necessary service requirements, and make the payment of fees. After a medical examination is performed at the center, the residency permit will be sent to the e-mail of the applicant.
The required documents for applying for this residency permit are as follows:
- Passport
- Personal photo
- Availability of an e-Certificate of Title / Title deed
- Health insurance
- A certificate of good conduct issued by the Emirate of Dubai (addressed to the DLD)
- A copy of the current residence / entry visa (if any)
- Emirates ID (if any)
5-year Retirement Visa
When it comes to Dubai, it is never too late to get things started. Even at the age of retirement, the government has taken progressive strides for foreign citizens to get long-term residency in Dubai, and by extension, the UAE. Evident by the name, the visa remains valid for five years and there is a possibility of its renewal if the eligibility criteria are met at the term of its expiry.
To be eligible for the 5-year retirement visa, a foreign citizen must be at least 55 years of age during the time of retirement or have worked for at least 15 years inside or outside the UAE. Alongside this, they must own a property or a group of properties that is worth at least AED 1 million or have a monthly income of at least AED 20,000 (AED 15,000 monthly for Dubai) or have financial savings of at least AED 1 million.
The required documents for applying for this residency permit are as follows:
- Passport copy of the applicant and dependents (spouse and children)
- Copy of marriage certificate (for sponsoring a spouse)
- Copy of current visa (if you are a UAE resident, for you and all dependents)
- Copy of Emirates IDs of applicant and dependents (for UAE residents)
Depending on which criteria (owning properties, savings, or adequate monthly income) you are fulfilling, you may have to present additional documents.
10-year Golden Visa
The UAE Golden Visa is a long-term residency program that aids foreign citizens to live, work, or study in Dubai, and by extension, the UAE, while enjoying exclusive benefits. People from numerous fields can apply for this visa such as scientists, entrepreneurs, humanitarian pioneers, frontline heroes, and outstanding students and graduates. Additionally, real estate investors can also apply for this visa as long as they fulfill the pre-defined criteria.
If you own a property or group of properties that are worth at least AED 2 million at the time of purchase, then you can apply for a 10-year residency permit that is renewable on expiry. Spouses, parents, and children of the applicant can be sponsored as well.
The required documents for applying for this residency permit are as follows:
- A passport
- A personal photo
- Availability of an e-Certificate of Title / Title deed
- Emirates ID (if any)
- A copy of the current residence permit (if any).
Therefore, if you are thinking of investing in a property in Dubai and are planning to get a long-term residency program with it, try and invest in properties that are worth at least AED 2 million.