As of 2024, Dubai offers several options for obtaining residence visas through property investment, catering to different investment levels and individual circumstances. Here are the key types of residence visas available for property investors:
Two-Year Property Investor Visa: This visa is available for property owners who have purchased a property in Dubai for at least AED 750,000. The purchase price on the title deed is the decisive factor, and the values of several properties can be combined to reach this amount. Holders of this visa can sponsor their spouse, children, and in some cases, their parents.
- Eligibility Criteria: Investors who purchase a property in Dubai's freehold zones for at least AED 750,000 are eligible. This visa can be obtained by combining the values of several properties to reach the threshold.
- Benefits: It enables sponsorship of the investor's spouse, children, and in some cases, parents. Renewability and ease of application make it an attractive option for many.
Five-Year Retirement Visa: This visa is targeted at property owners who are at least 55 years old and have purchased a property in Dubai for at least AED 1 million. The values of multiple properties can be combined to meet this threshold. Similar to other visas, this allows the sponsorship of a spouse and dependent children.
- Target Audience: Designed for investors aged 55 and above.
- Requirements: Owning a property worth at least AED 1 million, which can be a combination of multiple properties.
- Perks: It's an excellent option for retirees looking to enjoy their golden years in the vibrant atmosphere of Dubai, with the possibility of family sponsorship.
Ten-Year Golden Visa: This is a relatively new option for property owners, allowing a 10-year residence visa for those who have acquired property in Dubai at a purchase price of at least AED 2 million. This value can also be made up of multiple properties. Spouses who have jointly purchased a property can each apply for a Golden Visa, provided their respective shares are at least AED 2 million.
- Novelty: This is a new addition to Dubai's residency options, offering a 10-year visa.
- Conditions: Investment in property (or properties) totaling at least AED 2 million. Joint property owners (like spouses) can each apply if their shares meet the AED 2 million mark.
- Key Feature: Unlike other visas, the property does not need to be completed at the time of application, provided certain conditions are met.
Family Residence Visa: Investors obtaining a residence permit through real estate purchase can also sponsor their entire family, including spouse, sons under the age of 18 or 21 (if studying), unmarried daughters of any age, and dependent parents.
- Scope: Along with the investor, immediate family members including spouse, dependent children, and parents can be sponsored under this visa.
- Flexibility: It offers a level of stability and family inclusion, making Dubai a viable long-term living option for investors.
For each of these visa types, certain conditions and documentation are required, such as a valid passport, title deed, health insurance, and a certificate of good conduct. The process involves registering the property with the Land Department, obtaining a medical check-up, and applying for the visa either online or offline. The total service fees and specific requirements vary depending on the visa type.
These residency options offer significant flexibility and benefits for foreign investors in Dubai's real estate market, allowing them to live, work, and study in the UAE without a local sponsor. It's important to note that the requirements for these visas are subject to change, so it's advisable to consult with legal experts or with our private client advisors before proceeding with any application.
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