For foreigners, the UAE is the ideal getaway destination. The best option appears to be to apply for a resident visa through real estate investment. It’s not a simple process, though. It can be confusing with so many different kinds of resident permits, documentation, fees, and criteria.
To enter the UAE and establish residency there, you should be well informed on the residency visa.
How To Get A UAE Residence Visa By Investing In Property
Purchasing real estate in the United Arab Emirates may help you obtain a residency permit. Find out how investing in real estate can lead to opportunities and benefits for residents in this ever-changing market.
Advantages of Being A Residency Visa Holder
Obtaining the UAE residency visa through property investment has advantages of its own, despite the fact that it can be challenging. A resident visa can be obtained by real estate investment. Having a residency visa has the following significant benefits:
Bank Account Eligibility: You can store any quantity of money in dollars or any other currency and are able to open a bank account.
Family Visa Eligibility: If you have a residency visa, you can sponsor a family member’s visa and bring them to the United Arab Emirates.
Driving Eligibility: In the United Arab Emirates, you can obtain a driver’s license by passing a foundational exam.
Esaad Privilege Card: You may also be qualified for an Esaad Privilege Card, which entitles you to numerous savings on entertainment and medical expenses.
Visa Types For Residency Using Real Estate Investment
There are various kinds of visas for permanent residence. Although it can be difficult to obtain a UAE residency visa through property investment, there are several visas available that enable investors to finally become UAE residents. These are the various kinds of visas that are offered.
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Five-Year Visa For Real Estate Investing
Those who want to obtain a Dubai visa through property investment can do so by meeting the conditions for the 5-year property investor visa.
Conditions
The following is a list of prerequisites for the property investment 5-year resident visa:
- The minimum required property worth is AED 5 million.
- The property must be kept for a minimum of three years.
The following is a list of the necessary documents:
- Previous visa
- Passport
- Property Title Deed
- Photo
- Conduct Certificate
- Your Utility bill
- Health insurance that has been approved
- Official bank statements
10-Year Golden Visa
The 10-year Golden Visa is only available to those who want to make long-term real estate investments. You must adhere to a very strict set of requirements in order to be eligible for this visa.
Conditions
The following are the prerequisites for obtaining a 10-year UAE visa through home ownership:
- An investment of at least AED 10 million is required.
- A corporation worth AED 10 million can have you as a partner.
- Owner of a company with 10 million AED capital.
Authenticity
The visa is good for ten years, and it can be extended if necessary.
3-Year Investor Visa
For those who want to start a business in the United Arab Emirates, a three-year investment visa is ideal.
You can put money into a free or mainland business.
Documents For Mainland Company
For a company, these are the documents that are required:
- Trade License
- Local service agreement
- Partners list
- Partnership contract
- Memorandum of Association
- Immigration Establishment card
For the investor, the documents needed are as follows:
- Passport
- Bank statement
- Emirates ID
- Visa (if applicable)
- Photo
Process of Applying For Residence Visa in UAE
There are a few documents that are required for the application process and they are mentioned here:
- Visa application form
- Entry Visa
- Passport
- Passport-sized photos (2)
- Financial statements
- Medical test
- Approved health insurance
- Sponsor’s legal residency proof (for certain conditions)
- Birth or marriage certificates (for certain conditions)
- Title Deed for properties
- Good conduct certificate (approved)
- Your utility bill
The application process following this can be done through the ICP official website or even through the ICP application for phones.
- The online application form needs to be filled out.
- Submit your documents
- Pay the required fees
- Wait for approval.
- Collect your visa.
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Obtaining a Family Visa Through a Residency Visa
If you hold a residency visa, obtaining a family visa in the UAE is really easy. You can sponsor any immediate family member.
Documents Required
The documents that are required for a family visa are below:
- 6 month Bank statement (personal or company)
- Sponsor’s Emirates ID
- Passport copies (for family members)
- Trade License copy (coloured)
- Medical certificate (for family members)
- Utility Bills
- Passport-sized photos (white background)
- Marriage certificate
- The Memorandum & Articles of Association copy (for the investor’s company)
Rules And Regulations
To get the family visa, here are the rules that need to be followed:
- Sponsorer must be a UAE residence
- A tenancy contract is required for sponsors (male)
- Health insurance needs to be valid
- For male sponsors, a salary of AED 4000 is required.
- For female sponsors, a salary of AED 4000 is required.
How To Apply For a Family Visa
There are different ways in which you can apply for family sponsorship in the UAE and get a family visa. These are the steps that need to be taken:
- An entry permit needs to be made.
- Documents need to be collected.
- The application process needs to be carried out.
There are a few websites that can help streamline the application process:
- The General Directorate of Residency and Foreigners Affairs (GDRFA) for Dubai.
- The TAMM website for Abu Dhabi