In recent years, Dubai has succeeded in all sectors, which has made it one of the most attractive places to invest and live. In this regard, many foreign nationals are increasingly thinking about moving here. The source Emirates.Estate told its readers about the main way for a long–term stay in the emirate – resident visas.
A visa in Dubai is a document that allows non-residents of the Persian Gulf countries to stay in the emirate for a long time. Such visas are divided by their type, requirements, cost and validity period. One type is valid for 3 years, the others – 5 and 10 years. The following advantages become available to the holder of a visa:
- Open your own account in a local bank;
- Enjoy the benefits of a tax-free regime;
- Family sponsorship;
- Obtaining a driver’s license in the country;
- Buying a home with a mortgage;
- Work in the state.
Who can get a visa?
The following categories of citizens can count on obtaining a special long-term visa:
- Real estate buyers;
- Investors and entrepreneurs;
- Employees of companies and firms in the UAE;
- Civil servants;
- Students with good academic progress;
- Talented scientists and outstanding cultural figures.
Important! Visas of citizens-visa holders who have been outside the UAE for more than 6 months are canceled, except for foreign wives and students. The full list of exceptions is available on the official website of the UAE Government.
Investing in the real estate sector
In Dubai, you can get a resident visa for the purchase of real estate. To do this, you can meet the following conditions:
- 3-year visa – for the purchase of a property for AED 750,000 ($204,000, ¥1.3 million) or more;
- 5-year visa – for investments in real estate for at least AED 2 million ($544,000, ¥3.47 million). Similar conditions for obtaining a 5-year visa apply in Abu Dhabi.
Large investors can apply for a 10-year visa. To do this, they can meet one of the requirements:
- Contribution to the UAE economy – from AED 10 million ($2.7 million, ¥17.4 million);
- A deposit of at least AED 10 million in an investment fund in the country;
- Establishment of their own company in the UAE with a capital of AED 10 million;
- The amount of investments in all the above areas is AED 10 million or more if investments in real estate account for at least 40% of the total.
If you are thinking about buying real estate in the United Arab Emirates, the Emirates.Estate website has properties from all over the state, as well as current prices for apartments in Dubai Hills, Palm Jumeirah, Dubai Marina and other elite areas of Dubai. You can get detailed advice on buying and selling real estate in the UAE from a specialist.