UAE Residency Visa: Types of Visas After Buying A Property in the UAE
Are you considering purchasing a property in the United Arab Emirates? Along with the benefits of owning real estate in this dynamic country. One of the advantages is the opportunity to obtain a UAE residency visa. The country offers various types of visa options for property owners that cater to different needs and circumstances.
Before exploring the specific types of visas. It is essential to have a basic understanding of the visa options available to property owners. Owning a property in the UAE opens doors to different visa possibilities. Allowing individuals and their families to live there and enjoy its numerous benefits.
Types of Visas for Property Owners
Here are the two types of property linked visa options available for property owners:
1. Golden Visa
2. Property Investor Residence Visa
Golden Visa
The Golden Visa introduced in 2019, is the primary UAE residency visa specifically linked to property ownership. This visa offers a five or ten-year validity period, eliminating the need for frequent renewals every two years. It also provides the flexibility of unlimited time spent outside the country, compared to the requirement of returning within six months to maintain the validity of a two-year visa.
Requirements
You should own a property in the UAE with a minimum value set by the authorities.
The value of the property must meet or exceed the minimum valuation requirement.
You must commit to owning the property investment for a specific period determined by the government.
You should establish financial stability and the ability to support yourself and your dependents during your residency.
To be eligible for the golden visa, individuals must meet certain criteria. One of the key requirements is property ownership with a minimum equity value of Dh2 million. This means that owning property valued at or above Dh2 million opens the doors to this great visa opportunity.
Some properties for sale in Dubai starting from Dh2 million are May at Arabian Ranches 3, Crest Grande at Dubai Hills Estate, and Raya townhouses. These upscale properties offer luxurious living options and present excellent investment opportunities for those seeking to fulfill the golden visa requirements. By investing in these prestigious properties, individuals can enjoy a high standard of living and gain access to the benefits that come with the golden visa.
By completing the requirements, individuals can open the benefits of the golden visa, including extended residency validity, freedom to travel without visa restrictions, and the ability to live in the UAE without problems for a significant period. This visa offers a pathway to stability and security for property owners, providing a stable basis to succeed and enjoy the opportunities that the country offers.
It is important to note that the golden visa is subject to specific terms and conditions set by the authorities. However, to ensure a smooth application process and to stay up-to-date with the latest requirements, it is advisable to consult with immigration experts. They can guide individual circumstances, helping property owners navigate the visa application process easily. Additionally, Golden Visa holders enjoy access to various government services, business opportunities, and the ability to sponsor their family members.
Property Investor Residence Visa
The Property Investor Residence Visa is another type of visa available to property owners. This visa is specifically made for individuals who invest in properties within specified freehold areas or real estate developments approved by the government. It offers an opportunity for investors interested in properties valued at Dh750,000 or more, registered under their own name, or Dh1 million if registered under their spouse’s name.
Some of the properties for sale in Dubai starting from Dh750k to 1 million are Elitz 2 at JVC, Ascot Residences at Town Square Dubai, and Alandalus at Jumeirah Golf Estates and you must fulfill certain requirements to be eligible for the Property Investor Residence Visa.
Requirements
You must own a property in a specified freehold area or government-approved development.
The value of the property should meet the minimum valuation specified by the authorities.
You should display financial stability and the ability to support yourself and your dependents during your residency