Property visa is usually granted to investors and property buyers. The eligibility criteria for this visa include a minimum investment in any freehold property. The buyer needs to get it renewed respectively, and the property owner has to be maintained for the particular duration of the visa.
What are the types of Property visas in the UAE?
- 5-year property visa
UAE If the owner has invested in a property worth Dh 2 million, they can easily apply for the 5-year residency visa in the UAE. Moreover, the investment should be maintained for at least 5 years. 5 Years residency visa gives the owner the benefit of sponsoring the family and dependents as well.
- 3-year property visa UAE
Dubai Land Department issues 3-year property Visa UAE to people interested in investing in a property worth Dh 7,50,000 or more in the UAE. With this Visa, the investor becomes a UAE resident and avails of benefits.
Terms and Conditions for obtaining a property visa in the UAE:
Certain rules need to be kept in mind by property owners for obtaining a property Visa :
- A person can apply for UAE Property Visa only for residential and freehold properties
- The value of the property should be worth or more than AED 7,50,000
Advantages of having a UAE residency visa
- No local sponsorship is required
- During the visa’s validity period a person can spend as much time in the UAE as they like and can experience hassle-free travelling to and from the UAE.
- A person can open a UAE bank account and have access to local financial services.
- Can easily apply for a UAE driving license.
- Visa-free travel to certain countries.
- Sponsor their family and dependents.
- Both the 5-year and 3 year visas can be easily renewed provide the investor continues to retain their investment.