Types of Visa Available for Property Investors in the UAE
The visa reforms in the UAE are expected to encourage residents and investors to build a property investment portfolio in the country and avail long-term residency benefits. World-class infrastructure, promising rental yields and flexible visa rules are some of the main reasons why Dubai always rules the real estate investment opportunities.
If you’re also planning to invest in property in UAE and are wondering which type of visa you can possibly apply for, take a note of below options:
1: 2-YEAR RESIDENCE VISA FOR PROPERTY INVESTORS
If you invest a minimum of AED 1 million or more in a freehold property, you’ll be eligible to apply for a 2-Year Residence Visa which is easily renewable – with the condition of maintaining the ownership of the property.
2: 10-YEAR RESIDENCE VISA FOR PROPERTY INVESTORS
If you make a public investment of AED 10 million or more, you’ll be eligible to apply for a 10-Year Residence Visa. The only thing to note is that the investment should be held and not sold for at least 3 years and at least 60 per cent of it must be a non-real estate investment.
3: 5-YEAR RESIDENCE VISA FOR PROPERTY INVESTORS
The 5-year residence visa can be obtained with an investment of AED 5 million or more in a freehold properties. The best part is that the visa is renewable – with the condition of maintaining the ownership of the property.
4: 5-YEAR RETIREMENT VISA FOR PROPERTY INVESTORS
The expats aged 55 years and above are eligible to obtain a 5-year retirement visa. The retirement visa can be obtained if you make a property investment of AED 2 million or have savings worth AED 1 million or have an income of at least AED 20,000 monthly. The retirement visa is renewable if you continue meeting the eligibility criteria.
The UAE’s property market has always been attractive to foreign investors; by offering long-term residency, the government aims to strengthen investor confidence even further.