Can You Live In Dubai If You Own A Property?
Hello guys there is a big dilemma between owning a property in Dubai and getting a residency visa. “This is not an instant coffee” You have to follow a proper procedure. One of my friends called me up and told me that if you buy a particular property – you’ll get a residency visa. Turning out, the belonging that he got offered was not even completed the agent was just trying to make him fool.
So let’s come with me – I am going to explode some myths surrounding the topic of residential visa. There is nothing like, if you buy a property and automatically you will get a residential visa. Well you can definitely buy a property in Dubai but this is not true after buying any kind of property you will get a residential visa.
Residential visa is not free gift from government but off-course “where a will there is a way” You need to follow some government guidelines specially for foreigners if you buy a freehold property in Dubai then you can apply for residential visa. The property should be ready to live and your belonging should be worth a minimum of 1 million AED. However, the validity of this visa is only three years and you need to renew your visa every three years. There is no lifetime visa offer in Dubai.
How can We Get Investor visa?
The minimum expenditure should be one million for investor visa eligibility. This asset can be in multiple properties. However, all belongings should have a title deed issued by DLD (Dubai Land Department).
Here are the Enumerations:-
• Community should be freehold.
• Property should be residential or Commercial
• Property status should be habitable
• Property value threshold should be a minimum 1 million AED
• Mortgaged (if required)
Can I Get a Residential Visa If I Buy Property In Joint Venture?
Yes, you can get a residential visa if you buy a property with your Spouse. You need to attach a marriage certificate copy. On the other hand, if you buy a property with anyone else rather than your spouse – you have to insure your share separately in your property minimum of 1 Million AED.
If I Get A Property Gift In Dubai, Could I Get an Investor Visa?
There is a big no. If you get gifted property, it will be crystal clear on paper that the property was gifted to you which clearly proves that you’re not an investor. The Dubai government will not accept your application for an investor visa.
Buy The Beautiful Island Property And Get A Chance To Live In Dubai
Palm Jumeirah is the fanciest plant in the area and the largest man-made island in the world. This project offers you a highly unique and luxurious feeling. Secondly, after buying a house in downtown Dubai you’re eligible for a residency visa. This area is one of the most iconic in Dubai.
Types Of Dubai Visas
Firstly, I’ll talk about short-term residential visa which is only 6 months to 3 years. To gain 6-month multi entry UAE visa, you have to purchase residential property worth 1 Million AED as I mentioned already. This kind of visa holder can travel multiple times to overall emirates in Dubai.
Secondly, I want to introduce long-term visa process which is valid for 5 to 10 years. Regarding long term visa, UAE government offers foreign investors to improve economic growth and attract more money from the real estate market. Investors who want to get this visa should invest AED 10 Million but there is a condition over this, if you use loan to finance your purchase or do not hold your investment for at least 3 years then you’ll be not eligible for long term visa.
As proving all these points, you can get a residential visa but you have to follow the proper procedure which I mentioned prior. In my opinion, owning a freehold property in Dubai is the easy way to get a chance for a residential visa.
