Dubai’s real estate market is a major contributor to its economic growth. High luxury standards, magnificent architecture, tourist destinations, strict rules and regulations – the list goes on and on but Dubai never ceases to impress. These are some of the factors that attract property investors worldwide to invest in the Dubai property market and get a Dubai property investor visa.
This guide will cover the following topics revolving around property investment visas in Dubai:
- What is a Dubai property investor visa?
- Types of Visas for Property Investors
- Through DLD
- Through ICA
- How to apply for a Dubai Property Investor Visa
What is a Dubai Property Investor Visa?
The Dubai property investor visa is also called the Dubai partner visa. If you are a foreign national who wants to invest in the Dubai property market, then this visa is ideal for you.
As a foreign national or an expat, you can purchase property in designated areas of Dubai, known as freehold areas. In the freehold areas, you can enjoy the freedom to resell or lease your property at your will. You can also invest in Dubai’s mainland.
It should be noted that the minimum period of validity for a residence visa is 3 years for property investors. However, an investor can also apply for a long-term visa of 5 years or 10 years.
Basic Required Documents for Investor Visa Application
If you are investing in a property located in the main land of Dubai, then you will need the below-mentioned documents while submitting the residence visa application.
- Establishment card
- Sponsor’s Bank Account IBAN
- Memorandum papers (MOA) showing ownership share
- Current UAE visa of partner (if applicable)
- Copy of partner’s passport
- Sponsor’s Emirates ID
- One photograph with a white background
- Trade license copy
Types of Dubai Property Investor Visas
Property investors searching to obtain a property investment visa in Dubai have multiple options to select from, depending on the invested asset and the chosen government entity. You can choose any government entity of Dubai to get your Dubai Property Investor visa processed from, be it the Federal Authority for Identity and Citizenship (ICA) or the Dubai Land Department (DLD).
Here is an overview of the different types of Dubai Property Investor visas and how to apply for them:
Dubai Property Investor Visas through DLD
1. Three-year residence visa
The three-year residence visa can be requested by subscribing to the Taskeen Programme by DLD. You must meet the following criteria to qualify for Dubai’s three-year residence visa. If found eligible, you can then apply for the visa.
Eligibility Criteria
- The value of the property should be at least AED 750,000 at the time of investment.
- For a mortgaged property, the investor must have paid a minimum of AED 750,000 or 50% of the asset value to the bank. A paid amount letter and NOC letter will be required in such cases.
- The amount invested should not be based on credit.
- For joint ownership, the share of each contributor is at least AED 750,000.
- A marriage certificate will be required if a married couple is investing in one property having a value of AED 750,000 or higher.
How to apply for a three-year residence visa
- Visit DLD’s Cube Centre to apply for a three-year residence visa.
- Submit the required documents and pay the fees.
- Take a medical examination in the Cube Centre.
- Now, wait for the application to be approved and get notified accordingly.
Note: The service time is usually 7 – 10 working days.
2. Five-year Golden Visa for Investors
Investors must comply with the following eligibility criteria to obtain a five-year golden visa:
Eligibility Criteria
- A minimum of AED 200,000 value asset or share ownership in a property must be under the name of the applicant.
- For a mortgaged property, the investor must have paid a minimum of AED 200,000 of the value of the asset. A paid amount and NOC letter will be required in such cases.
- If an investor is buying property on the mortgage and off-plan properties, the combined total investment should be AED 200,000 or above.
- A marriage certificate will be required if a married couple is sharing one property.
3. Five-year Golden Visa for Retirees
To obtain a five-year golden visa for retirees, you must fulfil the following eligibility criteria:
Eligibility Criteria
- The age of the applicant must be 55 years or more.
- There should either be a property worth a minimum of AED 100,000 under the applicant’s name or a deposit of AED 100,000 in a local bank for three years.
- The asset should be fully paid and not mortgaged.
- A marriage certificate will be required if a couple is sharing one property.
Cost of Services
Five-year Golden Visa for Investors or Retirees:
- Medical (VIP) – AED 753
- New (5 Years) Visa – AED 2288.75
- EID (5 Years) – AED 573
- Management Fee – AED 100
A total of AED 3715.75 is the required service fee.
How to apply for a five-year golden visa for investors or retirees
- For application and payment, the customer has to visit DLD’s Cube Centre.
- Submit the required documents.
- Pay the service fees.
- Take a medical examination in the Cube Centre.
- Now, wait for the application to be approved and get notified accordingly.
Note: The service time is usually 7 – 10 working days.
Dubai Property Investor Visas through ICA
1. GDFRA’s 10-year Golden Visa
The 10-year residence visa by ICA can be issued to athletes, inventors, doctors, scientists, retired foreigners, researchers, students, entrepreneurs, and property investors. Since this guide covers the real estate investor visa in Dubai, we will only discuss the requirements for that type.
Applying for a ten-year residence visa through GDRFA allows the investor to enjoy some added benefits like:
- Sponsoring domestic helpers and family members, including spouse and children.
- Self-sponsored visa.
- Entry visa valid for 6 months to proceed with residence issuance.
- In case of the visa holder’s demise, family members of the Golden visa holder are allowed to stay in Dubai till the visa is valid.
- Allows visa holders to stay outside the UAE without endangering visa validity.
Eligibility Criteria
Property investors who own either one property or more can apply for a Golden Visa for a five-year duration. This visa can also be renewed if the same conditions are met, without the need for any sponsor. To get this visa you must meet one of the following criteria:
- Letter submission from the Real Estate Registration centre in Dubai quoting that the property investor owns one property or more whose value is no less than AED 200,000 and that the asset is not subjected to a loan.
- If an investor is buying property on the mortgage and off-plan properties, the combined total investment should be AED 200,000 or above.
Note: A Golden Visa for five years of duration can be granted to the family members of the property investor, including the husband or wife and unmarried children.
Cost of Services
Ten-year Golden Visa for Investors cost:
- AED 2790 – Residency fees
- AED 1070 – ID fees
Five-year Golden Visa for Investors cost:
- AED 2280 – Residency fees
- AED 575 – ID fees
How to apply for a 10-year Golden Visa
Property investors who meet the above eligibility criteria can submit visa applications either online (through the ICA website or Dubai Smart App) or by visiting an AMER centre.
ICA can also issue an entry permit, valid for 6 months, in case you are based outside the UAE. Moreover, the permit can be extended for a similar duration to ensure the completion of procedures for getting a golden visa in Dubai.
Visa Application Procedure by ICA
- Download the UAEICP application or open the ICA website.
- Under the ‘Services’ section, click on ‘Golden Visa’, then select ‘Start Service’ under Investors, and finally select ‘Visa to Finalize the Procedures of Golden Residency’.
- Now, submit all the required documents and information.
- Submit the service fee.
- Now, wait for the application to be reviewed and get notified accordingly.
Visa Application Procedure by GDRFA – Dubai Smart App
- Open the GDRFA Dubai Smart Application.
- Register a new user account if not already registered.
- Select the required service, i.e. Golden Visa and then ‘Investor Residency Visa/Golden Visa’.
- Submit all the required documents and information.
- Pay the due service fee.
- Now, wait for the application to be reviewed and get notified accordingly.
Visa Application Procedure by Amer Centre
- Visit any nearest service branch of Amer Centre.
- Select the required service at the reception counter.
- Submit documents to the service employee.
- Pay the due service fee.
- Now, wait for the application to be reviewed and get notified accordingly.
Note: In case of missing documents on the application, the applicant will be notified to submit the missing documents within 30 days duration. Failure to submit the missing documents in the said duration will result in the cancellation of the application.
This concludes our guide on the Dubai property investor visa, its different types and the application procedure for each type of investor visa. If you are interested in buying a property in Dubai, then you can choose one from this listing of properties for sale in Dubai.
Stay tuned to the UAE’s leading property blog for more informative guides.
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