Today You Want: Get Property Visa

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Tomorrow You Get:

If you want to settle down in UAE and enjoy its luxurious lifestyle, the best way is buying a property and getting residency visa for a permanent stay in the UAE. You will benefit from:

  • Great selection of properties
  • 0% Income Tax jurisdiction for its residents
  • Comfortable and safe living environment
  • Great place for living for your relatives
  • Attractive return on your property investment

Dubai Taxes provides the complete Property visa support package for you and your family as well as we guide you through property purchase process by recommending a real estate agent who would execute all work for you all the way to Property Title Deed obtainment.

ALREADY HAVE A PROPERTY in UAE? Then all what you need is to contact us and we handle all the Property Visa steps for you.

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UAE property visa

The article is devoted to the property owner visa in the UAE. Here we consider this document, how you can get a property visa in Dubai by purchasing real estate, how much it costs to get such a visa, and what kind of property one must buy for this, as well as the requirements of Dubai Land Department and the rights you get with the document.

What is the UAE property visa?

First, let us consider what a resident visa in the United Arab Emirates is. A foreign citizen very rarely obtains citizenship in this country, but if you want to live and work here, invest in the local economy, and enjoy all the benefits of living here, you can get a resident visa in Dubai.

According to the basic rules of 2018 residence visa gives a foreign citizen the right to live, study, do business, and stay (enter and leave) in the UAE. There are several types of residence visas, and one of them is the real estate property owner (real estate property investor) visa.

At the moment, there are two types of residence visas that can be applied based on a real estate investment in Dubai. Both types are considered as "Investor Visa" and define its holder as an "Investor." The main difference between these two options is the residence visa validity period (5 years and 3 years). The 5-year visa is also sometimes called the golden visa. There is also a 10-year golden visa for those who have invested more than 10 million dirhams in the UAE, 40% of which were invested in local real estate).

Those eligible to apply for such a visa are real estate owners who have bought a property under a freehold area with a value of at least AED 1 million. Therefore, the crucial factor is the purchase price as it is indicated on the property Title Deed, i.e., the original purchase price value. At the same time, the property price at the moment of visa application is of no importance. So neither the increase in the value of the property nor its decrease does not obstruct the applicant from applying for a 3-Year Visa.

In case If the property is owned by several people, each one of them can apply for an investor visa as long as that person has a purchase value share of AED 1 million or above.

After the issuance of a residence visa for a property owner, an applicant is allowed to sponsor his spouse and children under the status "dependent visa." Here are some important points in the property visa owner in the country:

  • Only Freehold and ready-made properties are qualified for the investor visas.
  • Off Plan, Leasehold, and land-plots are not acceptable properties for an investor visa.
  • In the case of owning several properties, the investor still qualifies for a property visa when the added properties' total value (up to 3) is AED 1 million or more.

Freehold Property in Dubai

This property means it is any real estate "free from hold" of any entity besides the owner. Therefore, an owner enjoys free ownership and can use the property for any purpose but should comply with the local regulations. Buying or selling this property does not require approval from the Dubai government.

There are 47 freehold areas in the Emirate of Dubai. Dubai Marina, Business Bay, Jumeirah Village Circle, Green Community, Jumeirah Lake Towers as well as some others are among the popular ones.

Rules and procedure for obtaining Dubai Property Visa

In this section, we consider the primary stages, namely purchasing real estate, collecting and applying documents for a residence (current procedure with last changes of 2018, 2019, and 2020), fees to be paid, visas for family members, and renewal procedure.

The property purchase procedure in Dubai

In Dubai, foreign ownership is permitted in freehold areas. Foreigners (who don't live in the country) and expatriate residents may acquire freehold ownership rights over the property without any restriction, usufruct rights, or leasehold rights for up to 99 years.

Article 3 of Regulation No. 3 of 2006 Determining Areas for Ownership by Non-Nationals of Real Property in the Emirate of Dubai indicates the land plots designated as freehold properties.

The purchase of property on a freehold basis means that the property is registered in the owner's name by way of a Title Deed registered in the Dubai Land Department. The owner has the right to sell, lease, or rent his/her property at his/her discretion.

An average property transaction in Dubai takes 10 to 30 days to complete from the date the Sales-Purchase Agreement is signed.

Real estate property purchase process:

  • Once you find the property of your interest, the property broker/agent will help you communicate, negotiate, and outline the terms of sales /purchase with the current owner. Usually, you do not need to see the owner until the date of the property ownership transfer.
  • When all the details on the property of your interest are confirmed, you can sign the sale agreement, also known as the Memorandum of Understanding (MoU). Upon signing the contract, the buyer has to pay by manager's cheque the 10% deposit of the property value issued to the seller. The property broker holds the deposit cheque in custody until the property ownership transfer date.
  • Applying for a No Objection Certificate (NOC). The NOC (Non-Objection certificate) is required to transfer the property to a new owner. It is issued by the property developer of the unit you are purchasing. Once all outstanding service charge payments are settled, the developer will provide the NOC. The application to receive the NOC is done by the property buyer and seller together. The costs for NOC are typically up to AED 5,000 and are paid by the Seller or Seller and Buyer in a 50/50 ratio.
  • Upon issuance of the NOC and availability of all the cheques and documents, the parties (Buyer, Seller, and Broker) will visit one of the Registration Trustees' offices authorized by the Dubai Land Department to transfer the ownership officially. The ownership transfer process will require the payment of the remaining 90% of the purchase price by issuing managers cheques made payable to the seller.

Applying for a residence visa in Dubai

Once a title deed is ready, a property owner can begin the process of obtaining a resident visa. The process includes obtaining an investment license and the subsequent submission of documents for a resident visa.

Documents required for the UAE property visa

As for the set of documents that a property owner must submit to obtain a residence visa in the UAE, we provide you with the complete list of those to be collected for the property visa application. Here it is:

  • Title Deed on the property;
  • Passport copy of the applicant;
  • Passport photos (x6);
  • Passport copy with the Entry Stamp;
  • Certificate of Good Conduct (from Dubai Police);
  • Utility Bill;
  • Health Insurance;
  • POA to us to process the visa formalities.

Once a buyer gets the United Arab Emirates residency visa, the official Emirates identification (Emirates ID card) is issued, this person is considered a tax resident of the UAE. Then you can get a local driving license, open an Etisalat or Du account for a mobile phone contract, TV and/or internet services.

UAE property visa cost

The fees vary for applicants for several different reasons; for example, it can change if the applicant is in the country during the visa process or not; also, government fees for some elements may slightly change with very short notice.

The standard visa fee charge includes administrative and additional costs, as the visa process is handled on your behalf. The total costs look like this:

Description

FEE (AED)

Good Conduct Certificate, Initial Approval, and POA

2,900

Application Processing Fee

630

DED license and establishment card

8,440

Residence visa for three years including visa stamping, Emirates ID, and medical check

2,490

Basic Health Insurance (For aged less than 55 years)

1,200

Service Fee from a consulting company (average)

8,000

VAT

1,173

Total (Including VAT)

24,863

In case you are inside the country with a Visit/Tourist Visa, your visa can be changed to a residency visa without exiting the country. Government additional charges for non-exit are AED 1.200 for changing visa status and issuance inside the country.

It is important to note that property visa holders cannot spend a consecutive six months outside of the country; otherwise, their residency visa would become invalid. This means it is required to visit the country at least once every 180 days.

Property Visas for Family members

As an investor visa holder, a foreigner can sponsor family members to enter the country. The word "sponsor" means obtaining visas for family members. The property investor visa enables sponsoring dependents: wife/husband, children, and parents.

To sponsor family members, one applies for documents for each family visa and pays the relevant fees. Here are the documents required:

  • Passport Copies (colored) of Wife and children;
  • Marriage Certificate;
  • Birth certificates;
  • Photo (white background) of each sponsored person;
  • Sponsor's original passport and Emirates ID.

Marriage and Birth Certificates should be attested by the United Arab Emirates Embassy in Home Country and Foreign Affairs in the country with Arabic Legal translation.

UAE property visa renewal

The local government allows residents a 30 days grace period to stay in the country after their visas' expiry. The residence visa has to be renewed before the end of that period to avoid incurring fines.

Property Visa is valid for 3 or 5 years (depending on the value of the property) and can be renewed indefinitely at the end of each term as long as you own a property in the country.

Here are the documents required for residence renewal:

  • Valid Passport and Emirates ID;
  • Medical Insurance;
  • Property Title Deed.

These are the fees for that procedure:

DESCRIPTION

FEE (AED)

Application Processing Fee

630

DED license and establishment card

6,800

Residence visa for three years including visa stamping, Emirates ID, and medical check

2,490

Service Fee from a consulting company (average)

3,000

VAT

656

Total (Including VAT)

13,576

In any case, applying for a property visa in the country is always an individual story, starting from the search and purchasing of real estate up to transferring family members to the United Arab Emirates. The process itself is quite complicated and has some nuances, so if you have no experience in this matter, we advise you to apply for the help of professional consultants who will help at all stages. In this case, you will get a guaranteed result within the shortest possible time, you and save your time, money, and nerves.

FAQs:

What is the UAE property visa validity period?

In general, this visa is issued for three years and can be extended. Among the several new visa initiatives recently launched, there is the 5-year property investment visa introduced with the key pre-criteria of a minimum investment of AED 5 million property for a residency visa application.

If I have several real estate objects, how do they calculate the cost for a visa?

According to the latest amendments, the total amount of real estate objects is taken to obtain an investor visa in the country; it must be more than AED 1 million (total).

If the property is mortgaged, can I get a property visa in Dubai?

If you have already paid off 50% of your mortgage and the total property value is AED 1 million, you can apply for a property visa in Dubai.

Can I get a visa in the UAE for 99 years?

Foreigners can own real estate in certain areas of Dubai (without title deed, for up to 99 years). This right is granted by the Dubal Land Department. But a residence visa is issued only for 3 years (in some cases for 5 years), although it can be extended at the end of this period an unlimited number of times.

Is it possible to get a tax residence certificate for a property visa in the UAE?

Yes, a UAE resident can apply for a UAE Tax Resident Certificate (TRC). To do this, you must wait at least 180 days from the visa issuing date. To receive a certificate you have to provide a bank statement as well. The certificate is issued by the Ministry of Finance for 1 year.