Residency visa in Dubai, UAE through a property purchase
Only the residential property enables you to get residency visa. This type of property can only be purchased in areas, where an ownership of a freehold property for foreigners is allowed. The value of the purchased property must be not less than 1 million dirhams.
There are two options for receiving a residency visa for business people and their family members in Dubai: through property purchase and over company registration. We have already outlined the procedures on receiving residency visa through company registration in our previous issues.
This article focuses on how to get a residency visa in Dubai through property purchase, what type of property is required, the validaty period of visa and what the pros and cons of getting a residency visa are compared to the visa acquired through company registration.
What are the property requirements in order to get a residency visa
First and foremost, it must be a residential property, not a commercial. Only the residential property enables you to get residency visa. This type of property can only be purchased in areas, where an ownership of a freehold property for foreigners is allowed.
The value of the purchased property must be not less than 1 million dirhams. If a unit is bought by several buyers, the value of each buyer’s stake must be no less than 1 million dirhams.
The construction of a property must be completed. Units which are still under construction, regardless of its final value after construction, do not grant the right to receive residency visa until the construction is completed.
How long is the validity of this type of visa?
The visa which is issued on the basis of property ownership is valid for 2 years with an option for prolongation.
What documents are required?
Following documents are required to obtain this type of visa
- Title Deed
- Contract of sale and purchase
- Passport copy of the property owner
- Current visa copy (tourist or visit)
- Photographs (passport size)
The advantages and disadvantages of this solution
This type of visa requires a property purchase in UAE. If such acquisition meets your plans, then it’s an ideal solution. If you do not plan to buy property, then the most favorable solution is to get residency visa in Dubai through a company registration.
The validity of property visa is 2 years whereby through free zone company registration it is issued for 3 years.
How to get a residency visa through property purchase – the procedure.
To do it on your own. This requires a fair number of steps to go through and quite a long stay in UAE. Even though the procedure essentially is not very difficult, but you need to know which forms to fill out and how, which documents and where to submit, what payments to arrange, knowledge of how to proceed with all ensuing stages like medical check and documents submission for Emirates ID.
If you are one among those who want to acquire investor/partner visa in Dubai then we at Amazon Dubai Services are here to help you complete the whole process conveniently. We have years of experience in dealing with all types of visas in Dubai and other emirates of UAE.