Finance

How To Get An Investment Residency In Dubai

How To Get An Investment Residency In Dubai

The United Arab Emirates issues residency permits to investors who have made real estate investments starting with 205 thousand USD. The investor and his family receive the status of residents and can reside in the country permanently.

An excellent real estate investment option is to buy apartments in Dubai Hills. This community is a mix of commercial and residential developments in Dubai’s green heart.

First, let us start by making it clear that the UAE’s legal system does not recognise the concepts of a residence permit or permanent residence. Instead, foreigners are granted residence visas, which are equivalent to residence permits and are valid for anywhere between six months and ten years.

Basic requirements 

The following individuals may apply for a Dubai investor visa in addition to the main applicant:

  • The investor’s spouse;
  • Children under the age of 18;
  • Parents of the investor and spouse;
  • Dubai investor residence permit can be issued for a property purchase for the amount of 205,000 USD. The time needed to get the resident status ranges from one to two months.

How to get a UAE residence visa in 2022

You must apply for a residence visa if you plan to relocate to the UAE. There is no such thing as a “residence permit in the UAE”; instead, a “residence visa,” or permission to enter and live in the country is used. What perks does a UAE visa offer?

  • Depending on the reasons on which the visa was obtained, it gives its holder the right to live freely in the United Arab Emirates for anywhere between six months and ten years. 
  • It  gives the same economic security as a UAE citizen and expands the possibilities for a foreigner.
  • If you have a residence visa, you are free to enter the country at any time, but you have to keep in mind that the period between visits should not exceed 180 days.
  • Family members are eligible for residence visas (spouse and children).

A visa may be valid for different time periods, for example:

Highly qualified experts and investors who have invested at least 10 million AED, or roughly 3 million USD, in the country ’s economic growth are eligible to apply for a residency permit for 10 years. You can “invest” by establishing your own company “from scratch”, or by creating a concern with a new or already operating enterprise in the country.

A 5-year residence permit is available to those who have invested at least 5 million AED, or around 1.5 million USD, in real estate; however, if the property was acquired through a mortgage or other loan, the owner is unable to apply for a residence visa.

Those who have purchased real estate worth 750 thousand AED or more, approximately 205 thousand USD, can receive 3-year residence visas. The investor is required to provide documents to prove that he earns at least 10,000 AED a month in order to be granted a residence permit valid for three years. The applicant should also keep in mind that the property that will be used as the basis for issuing a residence permit can only be acquired in Dubai and cannot be mortgaged.

It will cost between 3.5-4 thousand USD to issue a 3-year visa for a resident of the United Arab Emirates, but it is important to note that it can be renewed, so you should not regret the money spent. Holders of a 3-year permit can’t spend more than six months in a row outside the country.

A tourist visa is similar to a residence visa issued for six months, although it allows multiple entries during the six-month period. Housing investment worth at least a million AED (205,000 USD) is required for registration.

Visa for intellectual contribution

Talented programmers, medical professionals, virologists, epidemiologists, artificial intelligence developers, and university graduates with outstanding academic records can all expect to get a long-term visa. The spouse and minor children of a specialist are also granted a long-term visa.

Documents for obtaining a UAE residence permit by investment

The required list of documents includes:

  • An application and CV;
  • 4 photos;
  • Passports, both foreign and domestic;
  • Health insurance policy;
  • Marriage certificate and children’s birth;
  • Valid visa status;
  • Proofs for accommodation in the UAE;
  • Good conduct certificate;
  • Medical report concerning the applicant’s health;
  • Due diligence inspection;
  • Documents demonstrating the source of income;
  • Bank statement;
  • Documents indicating financial performance;
  • Receipts of payment of the registration fee.

Application procedures

A non-resident on a tourist visa, a visit visa, or a long-term permit for another reason can obtain an investment residency permit directly in the UAE. Otherwise, the candidate issues an entry permit (Entry Permit) from the “Federal Agency for Identity and Citizenship” (ICA).

The following steps are involved in collecting and preparing documentation:

  • Applying to the Dubai Land Department or another emirate’s equivalent Department. The property owner requests a letter of recommendation based on ownership;
  • Preparing a good conduct certificate. Following the land department’s recommendations, the police department issues the paper;
  • Obtaining a trade licence in the Economic Department (for investment in business option);
  • Medical examination. You should complete the registration form, get a blood test, and an x-ray (at any authorised medical centre);
  • Issuance of Emirates ID (an identity card). One of the typing centres accepts online applications for its services. Visit one of the Emirates ID centres to get your fingerprints taken and have your retina scanned;
  • Applying for a visa via the ICA platform;
  • Affixing a visa to a passport;
  • Getting Emirates ID.

Ready to get a residence permit in the Emirates?

Find the right property with Emirates.Estate. You can compare prices and choose the proper housing type as your potential place of residence.

About the author

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Mike K. Watson

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