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  • Can You Get Dubai Residence Permit If You Buy A Property?

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Minimum:
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Maximum:
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To
GBP
  • 400 K
  • 500 K
  • 600 K
  • 700 K
  • 800 K
  • 900 K
  • 1 M
  • 1.5 M
  • 2 M
  • 2.5 M
  • 3 M
  • 3.5 M
  • 4 M
  • 4.5 M
  • 5 M
  • 5.5 M
  • 6 M
  • 6.5 M
  • 7 M
  • 7.5 M
  • 8 M
  • 8.5 M
  • 400
  • 500
  • 600
  • 700
  • 800
  • 900
  • 1 K
  • 1.2 K
  • 1.4 K
  • 1.6 K
  • 1.8 K
Dated:
May 09, 2023
Read Time:
Topic:
Development

Can You Get Dubai Residence Permit If You Buy A Property?

Yes, you can, but, and it is a big hurdle, you do need to spend a certain amount of money to be eligible for the residency permit. There are other restrictions you have to meet as well.

This is a good deal if your company is sending you to Dubai to handle their business affairs or you want to open up a business in a business and real estate-friendly environment.

The real key is to make sure you really want to move to that city and work and live in a culture that is vastly different from your home country’s culture. This is a big step to take especially when you have a family to bring along with you.

How To Get Permanent Residency In Dubai

There seems to have been a change in the naturalization laws for Dubai and the UAE. This change took place in 2021 and there is a possible way to get citizenship through investment.

There seems to be a process involved to gain citizenship and part of that process involves the following entities- The UAE cabinet, executive councils, and local courts will be the authorities to nominate eligibility for UAE citizenship.

The individuals that are eligible to become citizens are:

  • foreign investors;
  • specialists in various fields of activity;
  • doctors and scientists;
  • inventors and intellectuals;
  • people with creative skills.

The following rules for citizenship are as of 2023:

  • property ownership is the mandatory requirement for foreign investors, while the minimum value of the real estate must be 1 million AED;
  • doctors and other specialists must have at least 10 years of experience in their fields, plus their skills must be in high demand in the UAE;
  • the same 10 years of experience are also required in the case of scientists;
  • inventors must have at least one patent approved by the Ministry of Economy in the UAE;
  • creative people and intellectuals must have at least one international award for their talents.

We will suggest that you talk to a qualified immigration lawyer to get all the details on how to become a permanent resident as well as a citizen of Dubai. They are the people who are qualified to provide legal advice in this matter.

Real Estate Visa Dubai

There seem to be two ways a real estate investor can get a residency visa for Dubai or the UAE. The first is a 2-year visa and the rules for that are as follows:

  1. Only the residential property enables you to get a residency visa. This type of property can only be purchased in areas, where ownership of a freehold property for foreigners is allowed.

  2. 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.

  3. In 2019 there was an important amendment to this law. If before this was applicable to one property with the given minimum value, now this can be a total value of two properties together. Moreover, the residency visa over property is now also possible over purchasing an office or other commercial property in Dubai as well – when buying such you can also obtain a residency visa in the UAE.

  4. The construction of a property must be completed. Units that are still under construction, regardless of their final value after construction, do not grant the right to receive a residency visa until the construction is completed.

For the 5 years golden visa, the following are the regulations that need to be met:

If you own a property or a group of properties, you may be granted a Golden visa for a period of 5 years, renewable on the same conditions and without a sponsor subject to the:

  1. Provision of a letter from the land department of the respective emirate stating that he owns one or more properties whose value is not less than 2 million dirhams

  2. Purchase of a property with a loan from specific local banks approved by the competent local entity.

For further details, it is vital that you talk to a lawyer with visa and immigration experience.

Minimum Investment In Dubai For Residency

The minimum purchase you have to make to get the 2-year residency visa must equal 1,000,000 AED or greater. If you are owning the property with a partner or several partners, then each partner must hold at least 1,000,000 AED investment in the property or properties.

For the 5-year golden visa that minimum purchase doubles and goes to 2,000,000 AED. There is a possibility of buying real estate and getting the 10-year Golden Visa but you may have to make an investment of 10,000,000 AED before you are eligible.

The documents that you will need to provide, include the following but may not be limited to these items:

  • A Title Deed (to prove property ownership)
  • Property
  • Purchase/Sale contract
  • Passport size photographs
  • Property owner’s copy of the passport
  • Existing Visa Copy (whether it is a tourist or visit visa)

Then there are some specific facts you should know:

  1. The residency visa doesn’t necessarily grant permission for you to work in the city
  2. A property visa is not designed to allow you to set up a business

Some Additional Words

When you decide that Dubai or the UAE is where you want to live for the next few years, give our company a call. With over 10 years of real estate experience in Dubai, our company can help you sort out all the details and inform you of all the requirements you will need.

There are a lot of challenges you should be aware of as well as little details that can trip up an application for a visa. Call us today so our expert agents can help you navigate this expansion of your real estate portfolio and get you the right properties to invest in to meet all residency requirements.

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