What You Need to Know About UAE Property VISA as a Potential Investor

Businesses from all over the world are fascinated by the idea of property investment in Dubai. There are plenty of reasons why Dubai tops the list regarding property investment.

The futuristic infrastructure, quality of life, and flexible visa rules are some of the reasons why businesses prefer to invest in Dubai. UAE property visas have made living and investing in the UAE simpler and more beneficial.

In this blog, we will take you through the various aspects of UAE property visas. Types, benefits, requirements to receive the visa, and terms and conditions related to UAE property visas are dealt with here.

Types of property visas available in UAE

The following are the various types of property visas available in the UAE:

• Six-month-multi entry visa: This visa serves the same purpose as a tourist visa and has several pros. Upon acquiring this visa, a person can enter the UAE multiple times. This visa is applied to property that is valued at one million AED or more in all seven emirates. The immigration officials hand over this visa, and one is not required to go to the Dubai Land Department. 

• UAE property visa for 3 years: The Dubai Land Department offers a 3-year property visa to anyone wishing to buy real estate in the Emirate of Dubai for 750,000 AED or higher. Earlier, the initial property limit was 1 million AED, but the value has seen a reduction since September 2021. By obtaining this visa, the investor can live lawfully in the UAE and take advantage of several benefits, such as family sponsorship, getting an Emirates ID, and being able to drive. 

• Property visa for 5 years: Investors interested in investing in property worth 2 million AED or more can apply for a 5-year property visa in the UAE. Investors are looking for property, such as luxury villas in Dubai, to invest in. Like the property visa for 3 years, there are a number of incentives, such as family sponsorship, that are provided with a property visa for 5 years. 

• Property visa for 10 years: If one invests more than ten million AED in the Emirate of Dubai, with 40% of that amount invested in real estate, they can acquire a property visa for 10 years. They must present all necessary documentation for the assets they have invested in when applying for this visa. These properties should be owned for at least three years and are not intended to be funded or borrowed. They may appear as any of the following:

1. A deposit to an investment fund
2. A newly established corporation with at least 10 million AED in capital
3. Working together with a reputable company (if you own shares valued at least 10 million AED)
4. The investment in the real estate visa includes an adviser, an executive director, and any family members or dependents of the prospective buyer.

Six benefits of UAE property visa for property owners

• Residency status: A UAE property visa can make you eligible for a resident visa. As a result, they can stay in the UAE for an extended period of time and avail of the services and stability of residency. 

• Long-term investment: In the long run, real estate in the United Arab Emirates can be a profitable investment, particularly in popular cities like Dubai and Abu Dhabi. Property values have increased over the years, providing potential financial profits.

• Security and stability: The UAE has a politically stable environment, which makes it favorable for property owners looking for stability for their families. 

• Rental income: If you decide to rent out your property, it can bring in rental money, which can help you pay for expenditures associated with the property and possibly bring in additional income.

• Tax Regime: The UAE has a tax-friendly environment. The income generated from property, either from rent or appreciation, is usually tax-free.

• Renewal of stay validity: Investors can extend their 3-year and 5-year property visas for extended stay.

Terms, conditions, and regulations

Even though there are many perks to a UAE property visa, there are specific terms and conditions one needs to abide by to make the most of the benefits.

1. UAE property residence visas can only be obtained for freehold and residential properties.

2. The property must be valued at 1 million AED or higher to acquire a property visa.

3. With a mortgaged property, investors may still be able to receive a UAE property visa as long as they match the investment requirements and include a no objection certificate (NOC) from the bank with their application.

4. If accepted, an applicant may apply for a property visa in the United Arab Emirates if they possess many properties valued at one million AED or more.

5. If a person has several properties worth one million dirhams, they can be eligible for a real estate visa (pending permission).

6. Applying for and receiving an Emirates ID is feasible.

7. It is not permitted for visa holders to stay outside of the UAE for 365 days a year.

8. Candidates must provide proof of at least 10,000 AED per month in income.

Requirements to receive UAE property VISA

The following requirements need to be met in order to apply for and receive UAE property visas:

1. One must have a monthly income of at least 10,000 AED or more.
2. The investor must possess health insurance.
3. There should be enough room at the property for the family members to live 
4. The property should be an apartment or villa. Consider property for sale in Dubai for options.
5. The property must be a freehold property.
6. The property must be valued at AED 1 million.

Trust Purple Sq.Ft. with your valuable property investments!

Whether seeking a 6-month multi-entry visa or a golden visa, you must be well acquainted with the property you are considering investing in. Purple Sq. ft. helps you make that decision. Properties ranging from apartments to luxury villas are listed on the Purple sq. ft. listings of property. From location to budget, we care for all your property investment and residential requirements.