Expat Buying property in Dubai

[raffery.dave]

Hi, we would like to buy property in Dubai, we are from Eastern Europe but live in the UK. If I become a property owner in Dubai do we get any visa? Thanks

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[FWL]

How many countries offer visas if you buy property? Do you know if there is a minimum investment level? I am based in the UK but open to ideas from around the world.

 

[nmb]

Interesting article for you explaining the different types of visa:-

http://gulfnews.com/property-weekly/visas-for-property-investors-1.1960725

 

[Mohammad Omar]

There are two types of visas available to property owners in Dubai:

The 6-month multi-entry
Conditions:

• The property must worth more than AED1 million.
• Properties with multiple owners must cost AED1 million per shareholder.
• The property must be finished and suitable to live in at the time of the sale.
• The visa must be renewed every 6 months.
• It is considered to be a visit visa, so the individual will need to get a job offer and apply for work visa if needed.

Costs:

• 1,100AED renewal fee every 6 months.

Sponsorships

• Sponsorships for family members are available within this option. They cost 250AED and must be renewed every 6 months.

The 2 years residency
Conditions:

• The property must be worth more than AED1 million for one property owner.
• Properties with multiple owners must cost AED1 million per shareholder.
• The property must be finished and suitable to live in.
• No mortgages allowed.
• Must be renewed every 6 months.
• Is considered to be a visit visa, so the individual will need to get a job offer and apply for work visa if needed.
• A monthly income of 10,000AED or more to be paid to the owner’s account.

Costs:

• Property visa fee of 1,100AED and an administration fee of 400AED.
• Investor trade license for 2,000AED.

Sponsorships:

• The property owner with an investment visa can sponsor their family members at a cost of 6,000AED per member.
• Maids cannot be sponsored in this case.

 

[PostBrexitInvestor]

Very interesting - some countries have quietly dropped visas connected to property purchases but Dubai still holds true to this philosophy. There must be some bargains in Dubai bearing in mind the recent volatility? However, I would view all worldwide property investment as a long-term arrangement especially in the current financial climate.

 

[diyhelp]

Hi @coco99

I have been interested in worldwide property markets for more than ten years now and find it all fascinating. The emergence of hotspots looks obvious in hindsight and it never ceases to amaze me when investors follow the herd and push prices to unsustainable levels. I have found that the time when everyone is an "expert" and a buyer of a particular market is the time to sell. When the last "bears" get dragged kicking and screaming into the "bull" camp, we know the correction is near.

 

[coco99]

Hi @coco99

I have been interested in worldwide property markets for more than ten years now and find it all fascinating. The emergence of hotspots looks obvious in hindsight and it never ceases to amaze me when investors follow the herd and push prices to unsustainable levels. I have found that the time when everyone is an "expert" and a buyer of a particular market is the time to sell. When the last "bears" get dragged kicking and screaming into the "bull" camp, we know the correction is near.

You are absolutely right. Market corrections are inevitable, supply/demand levels and buyers perspectives are always changing.

 

[diyhelp]

Interesting to see minimum unemployment in Dubai which would suggest that most people can fund their own life styles and there is little need for a social benefits system?

https://www.khaleejtimes.com/business/economy/dubais-unemployment-rate-of-05-below-global-average-

Not many countries in the world could even consider this.