Dubai Property Visa
Dubai is a known city for a cultural diversity. Different nationalities come down to Dubai and decide to make Dubai as a permanent home. Dubai provides that potential for expats to have a high standard of living at affordable budgets. In a recent analysis, more than 60% of the expats who reside in UAE show their interest to own their living in Dubai. This gives an opportunity to the government of Dubai to provide investor visa for those who own a property in Dubai.
Key notes to check on the eligibility for the Property Visa – Dubai:
- Value of the Property
- Ownership of the property
- Current status of the property
- Police conduct clearance certificate
Who can get an Investor visa on a Property in Dubai
As mentioned above is it necessary to understand who is eligible to avail the residency visa on the property they own. First and foremost the property has to be a residential one and a ready to move by its completion status. The major criteria would be the Value of the property. The minimum criterion is that the value has to be minimum of 1 million dirham or more. Anyone who owns a residential property worth of 1 million dirham or more can apply for this.
It is also mandatory to understand if the property is mortgaged or free from Mortgage as the requirement of 1 million dirham has a be a mortgage free property. For instance if someone owns a property worth 2.5 million than minimum of 1 million dirham needs to be paid off and the remaining even if mortgaged the investor would be eligible for the property visa in Dubai.
Looking into the ownership of the property is also required to understand who the owners of the property are. In case if owned by both the partners like wife and husband then an attested marriage certificate can be provided and the visa could be availed by the husband. The same is not applicable for any other relation apart from husband and wife. In case of other relations owning a property jointly then the eligibility criteria for the property visa is each owner should carry the percentage of share in such a way that they own the property worth of 1 million each.
Procedure for obtaining a Property Visa in Dubai
Once we are clear on the eligibility criteria of the property, let’s look into the procedure to be followed to own the Investor visa on a property.
The process for the property visa is done through the Dubai Land department (DLD). The investor needs to obtain a police good conduct certificate before initiating the process with the DLD. Once the good conduct certificate (PCC) is ready, we need to submit the passport copy, PCC along with the Title deed copy to the DLD. Upon receiving the pre-approval for the security then we further proceed with the issuance of the permit from DLD for property and then further proceed with the Establishment card and then the Investor visa.
Once the Investor gets his visa on the property he will be legally eligible to sponsor his immediate dependents by providing them a dependent visa from the Immigration. The Property permit is valid for 4 years and need to be renewed subsequently. The property Investor Visa is valid for 2 years and renewed subsequently. The total approximate cost for the permit as well as the Visa would be AED 13000/-.
There are certain new announcements with reference to the tenure of the Visa from the Dubai government for the Investors owning property more than 5 million dirham worth and the tenure would be 5 years. This is still not under implementation by law. there is also number of other ways to get residence visa in dubai.
The above process seems simple and straight forward but to understand the intricacies and the legalities, we at Flying Colour hold a sound experience and expertise in this segment and can take through the whole process without a tiresome process. This blog post is written by Ms. Sowmya. Feel free to call today for a more detail on long term visa related queries. Please send inquiry to info[at]flyingcolour[dot]com or call +971 4 4542366.