Residense visa if buy property in uae

[nomi123]

Hi guys first congrts for wonderful forum.

I tried to find information in here regarding my query but i couldn't find sorry if i missed it.
now come to post and questions

i,m thinking to buy an apartment in (UAE dubai, sharjah, al khan,).

my basic concern is buy apt as an second home and get residence visa,
my questions
If i buy apartment in UAE is there any Price limit to get a residence visa?
i mean the property should be over half million or one million any limit like that?

second question if i buy property on payment plans like 50 % down payment and
rest on 2 year payment plans or i get Mortgage from bank ll there be any trouble to get residence permit ?
any information about when we buy property how do we get residence permit and if there are any restrictions?
guys really appreciate and thanks for your help in advance

 

[Rich_T]

Hi Nomi123,

If you purchase a property in Dubai which has a value greater that 1,000,000AED then you become entitled to an Investors Visa which is valid for 2 years. You have to apply for the visa at the Dubai Land Department and pay additional fee's for the application and processing. Once you receive the visa you will also be able to apply to sponsor your immediate family.

You must however own the property outright - if you have a mortgage on the property then you will not be entitled to the visa.

Hope this helps.

 

[kokni001]

Hi Nomi123,

If you purchase a property in Dubai which has a value greater that 1,000,000AED then you become entitled to an Investors Visa which is valid for 2 years. You have to apply for the visa at the Dubai Land Department and pay additional fee's for the application and processing. Once you receive the visa you will also be able to apply to sponsor your immediate family.

You must however own the property outright - if you have a mortgage on the property then you will not be entitled to the visa.

Hope this helps.

Hello Rich T,

What is the position if property is owned outright, purchased for over AED 1m, but jointly owned ie both spouses? Will both spouses get Investors Visa at same time? What is the cost of Investors Visa for both spouses? Thanks

 

[Rich_T]

I cannot remember the costs involved off the top of my head but I can get them for you the next time I visit the Land Department.

If there are two names on the title deed you can both apply for a visa, however I believe that your portion of the ownership would have to equal 1,000,000AED or more to be eligible. I will also confirm this for you when I next visit the Land Department.

 

[nomi123]

I cannot remember the costs involved off the top of my head but I can get them for you the next time I visit the Land Department.

If there are two names on the title deed you can both apply for a visa, however I believe that your portion of the ownership would have to equal 1,000,000AED or more to be eligible. I will also confirm this for you when I next visit the Land Department.

thanks appreciate your help hope to hear from you soon.

 

[Rich_T]

Quick update for all those interested.

My colleague was at the Land Department today so I asked him to clarify a few things whilst he was there.

Here is what he was told:

1. If there are two or more people on the title deed then each parties portion must be equal to or greater than 1,000,000AED to be eligible for the visa.

2. It will take between 1-6 months to obtain the visa.

3. The application process is as follows:

> Take your title deed and passport to the Dubai Land Department
> The Land Department will write a letter (cost 410AED) which you then have to take to the police station so you can obtain a certificate of good conduct (basically a criminal back ground check)
> You take this letter back to the land department and they can start the visa application process.

Unfortunately they were not very forthcoming about the fee's involved.

Hope this helps.

 

[nomi123]

Thanks a lot Rich T the information you gave its gonna help me a lot.
appreciate.

 

[oraclefusions]

Hi Nomi123,

If you purchase a property in Dubai which has a value greater that 1,000,000AED then you become entitled to an Investors Visa which is valid for 2 years. You have to apply for the visa at the Dubai Land Department and pay additional fee's for the application and processing. Once you receive the visa you will also be able to apply to sponsor your immediate family.

You must however own the property outright - if you have a mortgage on the property then you will not be entitled to the visa.

Hope this helps.

Are you sure about the joint ownership? I thought the title deed should say one owner only.
cheers

 

[dubaiguyver]

Residence with UAE Company Formation

It´s also possible to get Residence Visa for the United Arab Emirates over setup an free trade zone onshore company (much cheaper than in dubai) and allow to residence example in dubai. If this company would buy the property... :ridinghorse:

Residence Visa for the United Arab Emirates
Residence Visa United Arab Emirates

The United Arab Emirates offer unlimited tax exemption for residents. This is based on the residence visa, which can be obtained by means of a work visa in the emirate Ras Al Khaimah. The employee/s of an Free Zone company in RAK may acquire a residence visa through the company. This is valid for the entire UAE and can also be extended to the family. Do you intend to relocate your residence to the UAE? Contact us. We are happy to advise and assist you during the entire process.

 

[azanali]

Until recently, many expatriates who purchased property in select areas of Abu Dhabi, Dubai, Ajman, Ras Al Khaimah, Umm Al Quwain were able to obtain three-year residency permits.
In these cases, the property owners were sponsored by the UAE master development company they had bought from.

 

[Mickey]

It´s also possible to get Residence Visa for the United Arab Emirates over setup an free trade zone onshore company (much cheaper than in dubai) and allow to residence example in dubai. If this company would buy the property... :ridinghorse:

Do you mean if we register a company in a free trade zone , or a offshore company in RAK
then the visas can be obtained for UAE , and a property can also be bought in the UAE .

Secondly , I one of the discussion above >
If a foreigner buy a property then he is entitled to a Ivestor Visa of 2/3 years
My question to this would be , what happens after 3 years , after its expiry, is it automatically renewed if you continue to hold the property in your name ?
or you need to buy another property / sell this present property to buy a new property ?

 

[salmamassoud]

Property Residence Visa Dubai

Hi all,

I just got off the phone with the Dubai Economic Department (600-555556). I will mention below the conditions that must be fulfilled to be granted a property visa and also the required documents to apply.

Conditions to be considered:
1- The value of your property at the time of purchase was over 1 million DHM. So, if you bought your property for 800,000 for example and now it is valued at 2 million, it does not count. The original contract must show you have paid over 1 million DHM when purchasing it.
2- The property must be fully paid for. If you are financing your property through a bank, then you are not illegible.

Once the above is fulfilled, below are the documents needed when you go apply in their brand in Deira, Baniyas road.
1- Title deed
2- "Good Conduct Certificate" from Dubai Police
3- Passport copy
4- Personal photo
5- Application fees: 450 DHM

Once approved (takes up to one month),you must pay a one time fee of 18,430 DHM and the residency will be valid for 2 years. Renewal costs 1,300 DHM every two years and the visa is called "Investor's Visa".

 

[salmamassoud]

More on Dubai Property Residence Visa

Hi again,

I want to bring to your attention a common mistake that many people do while trying to inquire about getting a property residency visa in Dubai.

It seems logical to contact the immigration to make the above inquiry. The trap you may fall in is that they will actually give you a list of documents to grant you the Dubai "visa" and you might waste your time collecting the documents and in the end discover this is not what you want at all.

Dubai immigration offers a "6 months permission to entry" to the UAE. This is NOT a residency visa. If you want to apply for a property visa because you have a property in Dubai, you must contact Dubai Economic and Land Department. I have posted in an earlier post (just before this one) all the conditions that need to be fulfilled for your request to be approved and also the documents you need to bring with you to apply.

I've been searching this for over a month and one can easily get lost. Hope this helps.

 

[GoldBDM]

Thank you very much for this information, very useful!

But I have one concern: you mentioned that the property needs to be paid 100% in order to be eligible for investor's visa.
What will happen in case you are buying off plan (which is in most of the cases on payment plan so it takes some time to reach 100% payment)?

 

[adnenHMG]

dubai market

buy law , should be worth more than 1 million (buying price)

 

[Saad Arif]

Do you mean if we register a company in a free trade zone , or a offshore company in RAK
then the visas can be obtained for UAE , and a property can also be bought in the UAE .

Secondly , I one of the discussion above >
If a foreigner buy a property then he is entitled to a Ivestor Visa of 2/3 years
My question to this would be , what happens after 3 years , after its expiry, is it automatically renewed if you continue to hold the property in your name ?
or you need to buy another property / sell this present property to buy a new property ?

UAE doesn't issue a lifetime visa to anyone. Your investor visa will expire after 2/ 3 years depending on what you applied for and after that you will have to renew your visa or to put it simply, apply for a new visa.

However, you don't need to buy anymore property for that.

 

[Rads190]

18,430 DHM for the residency ?!!!

 

[empireprestige]

Hi,

First of all thanks to Rich T for its useful information.

Its possible to get residence visas of Dubai If you buy property in freehold areas of Dubai such as Sheikh Zayed Road, Jumeirah, Jebel Ali, Dubai Marina, Jumeirah Beach Residence, Jumeirah Village Circle, etc. , then owner gets legal right to sell, lease or rent their property as well as also gets renewable residence visas of Dubai for him and its immediate family members.

 

[Aksfat]

Hi,

I am Indian citizen, currently working in Kenya on work visa. I am interested to buy a property in Dubai. As far as I know, as a foreigner I need to buy a property worth more than 1 million dirham since I am a foreigner and do not have job in Dubai. However, I am not in a position to pay this amount on outright. Is there an option to buy a property of less than 1 million in Dubai if I don't want a residence visa? Are there home finance or home loan options for foreigners like me who do not work in Dubai? If yes, then what is the procedure? Also, once I buy a property in Dubai, does it guarantee resudence visa for me and my family?