There are two options for receiving a residency visa for business people and their family members in Dubai: through property purchase and over company registration. We have already outlined the procedures on receiving residency visa through company registration in our previous issues.
This article focuses on how to get a residency visa in Dubai through property purchase, what type of property is required, the validaty period of visa and what the pros and cons of getting a residency visa are compared to the visa acquired through company registration.
What are the property requirements in order to get a residency visa
First and foremost, it must be a residential property, not a commercial. Only the residential property enables you to get residency visa. This type of property can only be purchased in areas, where an ownership of a freehold property for foreigners is allowed.
The value of the purchased property must be not less than 1 million dirhams. If a unit is bought by several buyers, the value of each buyer’s stake must be no less than 1 million dirhams.
In 2019 there was an important amendment to this law. If before this was applicable to one property with the given minimum value, now this can be a total value of two properties together. Moreover, the residency visa over property is now also possible over purchasing an office or other commercial property in Dubai as well – when buying such you can also obtain the residency visa in the UAE.
The construction of a property must be completed. Units which are still under construction, regardless of its final value after construction, do not grant the right to receive residency visa until the construction is completed.
How long is the validity of this type of visa?
The visa which is issued on the basis of property ownership is valid for 2 years with an option for prolongation.
What documents are required?
Following documents are required to obtain this type of visa
- Title Deed
- Contract of sale and purchase
- Passport copy of the property owner
- Current visa copy (tourist or visit)
- Photographs (passport size)
The advantages and disadvantages of this solution
This type of visa requires a property purchase in UAE. If such acquisition meets your plans, then it’s an ideal solution. If you do not plan to buy property, then the most favorable solution is to get residency visa in Dubai through a company registration.
The validity of property visa is 2 years whereby through free zone company registration it is issued for 3 years.
The property visa does not grant the right to work in UAE, whereas a visa through company does provide such right. A company registered for receiving a residency visa can also be favorably used for business due its tax-free status.
If, as mentioned above, the property purchase meets your plans and financials and you don’t have the requirement to do business through a company in UAE – the property visa is simple and cheaper. In all other cases, a residency visa through company is more favorable.
How to get a residency visa through property purchase – the procedure.
There are 2 options.
Option 1 – to do it on your own. This requires a fair number of steps to go through and quite a long stay in UAE. Even though the procedure essentially is not very difficult, but you need to know which forms to fill out and how, which documents and where to submit, what payments to arrange, knowledge of how to proceed with all ensuing stages like medical check and documents submission for Emirates ID.
Option 2 - to assign our company do the job. In this case you will only be required to visit only one authority in Dubai, where your presence is required only once, in within such visit you would also be accompanied by one of our managers. All other steps will be sorted out by our employees. All will be done in the shortest possible time.
In case of residency visa through company registration in UAE – this solution is also provided by us in the shortest possible time, at reasonable prices and with successful guaranteed completion of your case.