The property investment Residency Visa is towards who wish to acquire residency in Dubai by purchasing a property. At the moment, investors are entitled to apply for a 10 years Golden Visa or 5 years retirement visa or 2 years investor's visa as facilitated by Dubai Land Department. The property owner is eligible to apply for a residency visa for himself or herself and his or her immediate dependents (spouse and children) and can be renewed indefinitely as long as the property ownership is maintained as per the current regulations.
WHAT ARE YOUR CONVEYANCE NEEDS?
THE GOLDEN 10 YEARS VISA
Under the recent changes to the UAE Residence and Entry Scheme that was announced and effective as of October 3, property investors owning property worth AED 2 million can now obtain the 10 years Golden Visa!
The eligibility criteria for the 10-Year Golden Visa are:
Property in Dubai worth at least AED 2 million, Multiple properties will be accepted under the applicant’s name.
In case the property purchased through Developer or Bank mortgage, statement of account from developer or Bank NOC to proceed with the Residence visa application.
Person must be inside the UAE.
Title deed jointly between partners is acceptable (applicant share should be minimum 2 million).
The Benefits are certainly:
10 years of residence in the UAE, with the chance to renew when the requirements are met.
100% ownership of any business started and owned in the UAE.
Sponsor your dependents such as spouse, parents and your children.
Employ and support an unlimited number of domestic helpers.
Allows visa holder to open a bank account and car license
Extended time outside the UAE to rather 1 year.
5 YEARS RETIREMENT VISA
The UAE Cabinet approved a law to provide the retired residents over the age of 55 years old, a long-term visa for a period of 5 years. Indeed, the visa can be renewed when the conditions are met.
The eligibility criteria for the 5-Year Retirement Visa is:
The individual much be 55 years old and above.
The minimum investment should be AED 1 million value property or owned share (one property or more).
OR
A saving deposit of AED 1 million in any local banks for 2 years and bring a letter from the bank issued to the immigration that (the deposit cannot be released within 2 years).
2 YEARS INVESTOR'S VISA
Under recent announcement by November 1 2022, property investors owning property worth AED 750,000 can now obtain the 2 years Investor’s Visa!
The eligibility criteria for the 2-Year Investor’s Visa are:
Minimum AED 750,000 value property or owned share (one property or more).
If the property is mortgaged, at least AED 750,000 of property value must be paid to the bank and provide a letter from the bank mentioning the paid amount from the mortgage.
If the property is off-plan/property is ready and not under construction, there should be a handover letter of the project from the Developer and AED 750,000 must be paid to Developer.
The Benefits are certainly:
You will be able to live in the UAE. There are several benefits to residing in the UAE, which include pleasant weather as well as high and safe standard of living.
In the UAE, there are no direct personal taxes, and when taxes are applicable, they are usually low in value.
UAE also has good investment prospects and has business-friendly regulations. This is a great plus to your investment!
Our expertise will be guiding you through the entire visa process, from assessing your eligibility to ensuring that you have all your documentation in place and all the way up to gaining approvals from the authorities in the Dubai Land Department. The UAE Golden Visa entitles you to enjoy so many privileges; therefore, make sure you don’t miss out this opportunity.
Obtain your Golden Visa now, with Fam Properties team.
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