What Are the Requirements for an investor visa in Dubai?
The Dubai investor visa is one of the top ways people from around the globe make the UAE their home and business location.
It was implemented in 2019 as a means of granting long-term residence visas. This is to help foreign nationals study, work and live in Dubai with 100% ownership of their properties and without the need for a national sponsor.
The highly beneficial business conditions and favorable government policies have made Dubai one of the best commercial hubs preferred by entrepreneurs and investors.
To further encourage foreign investment and help people live legally in the United Arab Emirates, Dubai created the investor visa.
What is an Investor Visa?
Dubai Investor Visa was created for foreign nationals interested in investing in properties or an established business in Dubai. It is also known as Dubai Partner Visa.
The visa provides the holder an opportunity to live in the UAE, visit and leave whenever they want before the expiration of their visa.
A Dubai Investor Visa holder can have a bank account, sign up for home packages or Du mobile and Etisalat, UAE ID card, Dubai driving license, and enjoy other essential services.
The Investor Visa also offers the holder an opportunity to sponsor their parents, children, and spouse to Dubai.
Dubai Investor Visa in Real Estate
The Dubai real estate market has many options for investors. From modern and sleek apartments, beautiful grand villas, and townhouses to different types of commercial buildings, you have a wide variety of options.
When you invest in a property in Dubai either as a short-term investor, or long-term investor, you can enjoy hitch-free and flexible payment plans, little or no service charge, and relaxed DLD fees, especially in off-plan projects.
Dubai property investors can choose from the options below:
Six months multi-entry visa
Three years residence visa
Five years residence visa
Ten years residence visa
Six Months Multi-Entry Visa
This is a short-term visa that shares a close similarity with a tourist visa.
Holders of the six-month multi-entry visa can make multiple entries into Dubai for six months. It is also applicable to people who own or invest in properties worth over AED one million in any of the Emirates. This type of visa is issued by the Dubai immigration authorities.
Three years Investor Visa
This type of investor visa is issued for investors who want to buy or invest in properties worth over AED 1 million in Dubai.
Generally, the cost of getting an investor visa for the three years residency visa in UAE is within the range of AED DH13,000 and AED DH15,000. The holder of this visa is entitled to being a resident of UAE and enjoy the various benefits that come with it, including sponsoring your family and dependents to Dubai, having a Dubai driving license, ID cards, and more.
However, this type of investor visa doesn’t permit you to stay outside Dubai for 6months at a stretch or consecutively.
5 Years Investor Visa
You are eligible for Dubai’s 5 years investor visa if you have more than AED 5 million investment. Holders of this type of investor visa can not buy the property through a mortgage, loans, or any financing. You should also retain the investment for a minimum period of three years when you hold this type of investor visa. You can sponsor your dependents and family too.
10 The Years Investor Visa
If you’re investing over AED 10 million in Dubai, you are eligible for the ten years investor visa. You need to show concrete evidence that you did not loan the money invested before being granted this type of visa. Also, you have to keep the investment for a minimum of three years.
The ten years investor visa also provides an opportunity for an advisor and executive director as well as dependents and family members. If you’re partnering with business partners for this type of visa, they will also get the visa.
Getting an investor visa in Dubai requires that you buy a freehold property. The property can be a townhouse, an apartment, or a villa. Other general requirements for property investments include:
Property must worth at least AED 1 million
It has to be bought with a deed issued by DLD
Invested property shouldn’t be a bequeathment or gift
Property must be located in a freehold vicinity, and it can not be rented out to the owner
If there’s a mortgage on the property, half of the price must be paid along with a loan statement and a NOC from a bank
Properties can be bought by couples only when they provide their marriage certificate.
Documents required include
Six passport copy
Current valid visa
Applicant’s photograph (6 × 4)
Health or Medical insurance
Good Conduct Certificate (you will be directed to the necessary department for this during the application process)
NOC ( written in Arabic and gotten from the bank if it’s a property you’re mortgaging). A stamped loan statement will be submitted along with this at the bank.
Your proof of income should not be less than AED 10000 every month regardless of where you work.
When you meet the requirements above as an applicant, you’re further required to submit all necessary documents to the Economic Department to register for a property license. The property license takes a maximum of thirty days before being approved.
As soon as you get the approval, the licensing process follows. For the licensing, you have to submit the property’s title deed for official linking with the license. After this, you will get an entry permit before getting the actual visa. Property investor visas have at least two years before being renewed. You can not get an investor visa on off-plan properties, disputed properties, and land plots.
If you have to travel during the process of the visa application, providing a power of attorney would help. This way, you can be sure that the visa application process doesn’t stop before your arrival.