It is possible to get a 2, 5 or 10-year visa for making an investment in real estate in Dubai. Visa eligibility depends on the value of the property, what stage of readiness it is in, and the age of the investor.
There are three types of investor visas in the emirate:
- 2-year visa, if the total amount of investment is AED 750K (USD 205K) or higher (for up to three properties).
- 10-year visa, if the total amount of investment is AED 2M (USD 545K) or higher (for up to three properties).
- 5-year UAE pensioner’s visa, if the total amount of investment is AED 1M (USD 272K) or higher (for up to three properties) AND the investor is 55 years old or older.
There is also the option of receiving a visa if the construction of the complex is not yet complete. This is possible only after getting the Dubai Land Department (DLD)’s approval. The decision is based on the stage of completion of the project and the amount already paid, provided it is at least AED 750K (USD 205K)
All visa types are able to be prolonged an unlimited number of times and also include immediate family members - spouse, children and parents. The residence visa allows the holder to apply for an Emirates ID, which enables them to open a local bank account, get a driver’s license and so on.
Important! All UAE residents and those who are being sponsored are required to have medical insurance. This can be done through an insurance agent. Anyone caught without medical insurance will be fined. Metropolitan Consulting recommends adhering to the law and getting medical insurance.
2-year residence visa
It is possible to obtain a 2-year investor visa by purchasing up to three ready properties in Dubai worth a minimum of AED 750K (USD 205K). If the purchase is made with a mortgage, then the application for the visa can be done only after at least 50 % of the cost of the property, or a minimum of AED 750K (USD 205K), has been paid. The No Objection Certificate and a statement from the bank that approved the mortgage must also be presented to the Dubai Land Department (DLD)
The 2-year visa allows the holder to sponsor a spouse, unmarried daughters of any age, sons under the age of 21, and parents.
Note! 2-year visa holders can spend a maximum of 6 months each year outside of the UAE.
Retirement Visa
The 5-year retirement visa is available to investors aged 55 years and over who meet one of the following two criteria:
- has at least AED 1M (USD 272K) in savings in a deposit account at one the local banks in the UAE;
- ʼhas bought a property in Dubai with their own funds that is worth at least AED 1M (USD 272K).
Pension visa holders can sponsor a spouse and unmarried children of any age.
10-year Golden Visa
The owners of up to three real estate objects with an accumulative total of AED 2M (USD 545K) or more are eligible to apply for the 10-year Golden Visa, to be received within 7-10 business days. Even if the property is off-plan (under construction), the investor can still qualify for the Golden Visa. In this case, permission from the Dubai Land Department (DLD), along with proof of purchase of at least AED 2M (USD 545K), must be presented.
If the real estate was purchased with a mortgage, the 10-year visa can be received only after AED 2M (USD 545K) has been paid and a No Objection Certificate has been issued.
The Golden Visa allows holders to sponsor a spouse, unmarried children of any age, parents and domestic staff. The visa remains valid even if the holder spends more than 6 months of the year outside of the UAE. Family members are allowed to reside in the UAE for the entire duration of the validity of the visa in the event of untimely death of the visa holder.