What is the law on the duration of the visa you can obtain as a property owner in the UAE and Dubai? What are the restrictions?
Whether you are an OWNER of property in the UAE or still considering investing in Al Manazil UAE real estate, you should pay attention to understanding the rules and laws of obtaining a residence visa in the UAE, as well as the available controls, regulations, and options.
Real estate markets in the UAE are fast-moving, and new laws on these markets are often issued without prior notice or limited announcement. However, in the wake of the 2009 Dubai real estate crisis, UAE decision-makers have moved to standardize some of the rules and laws relating to the property-related visa system.
There are some specific rules across the UAE. However, some particular criteria may vary from emirate to emirate.
Federal laws in the UAE for issuing 6-month residence visas:
To apply for a multi-entry visa after purchasing a property within the country, this visa's validity applies for a renewable period of six months once the landlord/resident leaves the country.
The cost applies for a visa and renewal is AED 1,100.
In addition to Following, there are some requirements:
- The real estate property must be at least AED 1 million.
- The Deed must be issued in the landlord's name, the same name for which the residence visa is issued later.
- The Deed is given the name of only one person, the owner entitled to apply for a residence visa.
- The applicant must provide proof of his monthly income of at least AED 10,000.
- The property must be complete.
- Information on the possibility of extending a residence visa to family members is not available.
To obtain a six-month residence visa, property owners must apply to the relevant immigration authorities:
Dubai - General Department
of Residence and Foreign Affairs Abu Dhabi - General Department of Residence and Foreign Affairs - Ministry of Interior
Sharjah - General Department of Residence and Foreign
Affairs Ras Al Khaimah - Immigration Department in Ras Al Khaimah
Ajman - Immigration Department in Ajman
Fujairah - General Department of Residency and Foreign Affairs in Fujairah
or Al Quwain - General Department of Residency and Foreign Affairs in Um Al-Quwain
Ensuring family members in the UAE through a real estate residence visa:
After obtaining a 6-month residence visa, landlords can apply for a guarantee for their families at the cost of AED 250 for the first release and AED 250 at renewal. All applicants undergo some medical examinations.
All visa holders must leave the country and reapply for a visa if they wish to return.
Although this visa is granted a six-month residence permit, it is a type of visit visa, and no formal legislation or law provides that visa holders can work in the UAE.
Two-year residence visa for property owners:
Dubai tried to make it easier for investors looking to invest in the Real Estate Property In UAE market, with the Dubai Land and Property Department issuing a new set of rules regulating the process of allowing investors with title deeds (not mortgages on the property) to apply for a two-year residence visa:
- By federal law legislation, the property must be worth at least AED 1 million.
- In addition to the title deed, a must provide a copy of the passport and a passport copy.
- In addition to paying a property visa of AED 1,100, an additional fee of AED 410 is paid.
- The Dubai Department of Land and Property issues a certificate to the landlord to be submitted to the Department of Economic Development.
- The Department of Economic Development then gives the "Investor" commercial license at an annual cost of AED 2,000.
- After completing the previous steps, the landlord receives a two-year residence visa from the Immigration Department of the Dubai Land and Property Department.
- The procedures may take about a month.
Buyers using any of the loans or mortgages cannot apply for a real estate residence visa until the property loan is paid and the title deed is provided.
A should note that obtaining a real estate investor visa only grants the owner the right of residence and does not technically grant him the right to work, as a separate work visa must be obtained for this purpose.
If the property is sold, the visa holder must reapply for the residence visa in another way.
Guarantee family members with a two-year real estate residence visa:
Based on the rules and laws of transfer of property in the UAE, the property owner with an investment visa can guarantee the residence of his family members for AED 6,000 per application but is not entitled to sponsor maids, for example, using this type of visa.
Amendments and changes in the rules and laws system:
Although obtaining this type of visa is difficult and complex, some signs of easing some restrictions shortly.
The UAE's competent authorities recently referred to investors in applying for the so-called "gold visa", in a move aimed at those who invest in bonds, stocks, real estate, companies, and local businesses.
At the heart of this step, it aims to standardize procedures and processes and allow for extended stay periods.
Some of these measures and procedures are similar to those in some EU countries, which have wildly succeeded in attracting foreign direct investment to European economies.
