How To Get Residency By Investment In Dubai (Golden Visa)
Table of Contents
Introduction
Dubai, a global hub of business and luxury, attracts individuals from all corners of the world seeking opportunities for professional growth and a high-quality lifestyle. Besides traditional routes like employment and entrepreneurship, obtaining a residency visa through property investment has become increasingly popular.
In this article, we’ll explore the intricacies of the two main avenues for acquiring an investor visa in Dubai via property investment.
The 2-Year Renewable Residency Visa: A Gateway to Stability
A. Minimum Investment Requirement and Key Considerations
Dubai offers a 2-year renewable residency visa through property investment with a minimum investment of at least $750,000 dirhams. The property’s title deed must specify a value equal to or exceeding this threshold. This initial investment opens doors to legal residency in the United Arab Emirates (UAE) with a range of additional benefits.
Minimum Investment Value: The cornerstone of this pathway is the minimum investment value of $750,000 dirhams. This requirement sets the stage for obtaining the investor visa.
Mortgage Considerations: In cases where a mortgage is involved, a crucial step is paying 50% of the property value to the bank. Additionally, a non-objection letter from the bank becomes necessary, indicating their approval for the residency permit.
Joint Ownership for Couples: Recognizing the importance of family, Dubai allows a husband and wife to jointly own a property to meet the investment threshold. The property’s value should still align with the minimum requirement, and a certified marriage contract is mandatory
B. The Application Process and Renewal
Once the property is secured and the investment criteria met, the real estate investor can initiate the application process for the 2-year renewable residency visa. This process involves submitting the necessary documents, including the title deed and any pertinent letters from the bank.
Application Submission: Investors must adhere to the specific documentation requirements outlined by the immigration authorities. Submission of accurate and complete paperwork is crucial for a smooth application process.
Visa Renewal: The 2-year renewable residency visa allows for an extended stay in Dubai, provided the investor continues to meet the renewal criteria. Timely renewal ensures the continuity of legal residency in the UAE.
The 10-Year Golden Visa: A Long-Term Commitment to Dubai
A. Elevated Investment Threshold and Extended Benefits
For those seeking a more substantial commitment to Dubai, the 10-year golden visa offers an extended period of residency. This option requires a minimum investment of 2 million dirhams in the real estate market.
Investment Threshold: The 2 million dirhams investment threshold positions investors for the 10-year golden visa. This increased commitment unlocks a range of benefits, making it an attractive option for those looking for a more enduring connection to Dubai.
Sponsorship Privileges: The golden visa allows investors to sponsor their immediate family members—spouse, children, parents, and other related family members—enabling them to join the investor in the UAE.
Mortgage Requirements: Similar to the 2-year visa, if the property purchase involves a mortgage, a non-objection letter from the bank is mandatory. This letter signifies the bank’s approval for the issuance of a residence permit on the property
B. In-Person Application Process and Ongoing Residency
Unlike the 2-year visa, the application process for the 10-year golden visa requires the applicant to be physically present in the UAE. This in-person requirement underscores the long-term commitment associated with this residency option.
Physical Presence: Applicants must be inside the UAE during the application process, showcasing a commitment to establishing roots in the country. This requirement emphasizes the strategic and enduring nature of the golden visa.
Continued Residency and Sponsorship: Successful applicants not only secure their own extended residency but also gain the ability to sponsor their family members, fostering a sense of stability and togetherness in Dubai.
Conclusion
Dubai’s investor visa programs through property investment provide a compelling avenue for individuals seeking residency in this thriving metropolis. Whether opting for the 2-year renewable visa or the more enduring 10-year golden visa, investors can find a pathway that aligns with their goals and commitment levels. As Dubai continues to evolve as a global business and lifestyle destination, these investor visas stand as key instruments for those looking to make this dynamic city their home.
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