3-year property visa and the 5-year property visa.
The United Arab Emirates (UAE) is a desirable location for foreign investors because of its first-rate infrastructure, high potential rental returns, and transparent immigration policies. To maintain investor confidence and increase FDI, the government has launched a number of policy initiatives.The Property Investor Visa is one of the most talked-about visa programs, attracting investors from all over the world. Investors in the United Arab Emirates (UAE) can get a 3- or 5-year property visa, respectively, based on the amount they spend on property purchases.
Minimum Criteria
The United Arab Emirates recently implemented a 5-year property visa for anybody seeking residency in the country. Investors must put at least AED 5 million into real estate and plan to keep their money there for at least three years in order to qualify for this visa. With this visa, you can legally bring your loved ones with you to the UAE. However, the Dubai Land Department offers a 3-year property visa to people looking at properties worth AED 1 million. Obtaining this visa entitles one to permanent residency in the UAE with privileges like family sponsorship and a driver’s license. It’s good for three years, but you have to stay in the nation for at least six months straight.
Other Options
Those who invest over AED 10 million in the UAE will be granted a 10-year property owner’s visa. The investment must be kept for at least three years and documentation must show that no loans or funding were used. Executive directors, advisors, and their families and dependents can all apply for this visa type. Business partners can join for an additional AED 10 million in funding.
Legal Clarifications
The property must be either a primary residence or a freehold property with a value of at least AED 1 million. For example, visas cannot be issued for the purchase of disputed properties, leased properties, off-the-plan properties, or undeveloped pieces of land. If your mortgaged property meets the minimum investment criteria and you have a No Objection Certificate (NOC) from the bank, you may be eligible to apply for a visa.
The applicant must provide the following items with their application for a property investor visa
- Bank statements
- Proof of current visa status
- Property title deed
- Certificate of good behavior from Dubai police
- Passport size photos
- Passport copies
- Utility bills
The United Arab Emirates (UAE) real estate industry is attractive to investors because to its strong rental returns and capital appreciation.
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