The consistently high ROI and global appeal of the UAE real estate market has attracted investors from all over the world. Expat investors can achieve high rental yields as a result of strong capital appreciation of the real estate market in the UAE. There are two long-term visas that real estate investors are eligible for. Here is everything you need to know about the UAE investor visa:
TYPES OF UAE INVESTOR VISA
Realising the potential of foreign investors in the real estate industry, the UAE government implemented a new system in 2019 for real estate investor visas. Now there are UAE Golden Visas in place that allow foreigners to work, live and study without the need of a national sponsor. Read on to find out all about the investor visa UAE requirements.
A 10-YEAR INVESTOR VISA
It is mandatory for a foreign investor to have at least AED 10M public investment in the UAE to be eligible for the 10 year long term visa. This investment can be made in any of the seven emirates in the UAE without a sponsor. Take a look below at the list what investment types are eligible to attain a long-term real estate investor visa under the General Investor category.
- Establishing a new company in any of the Emirates that has a capital investment of equal to AED 10M.
- Establishing partnership in an existing company with a share value not less than AED 10M.
- Deposits with investment value of at least AED 10M in any Emirate of the UAE.
- For the real estate investment visa Dubai, it requires investing AED 10M investment in one of any forms discussed above.
CONDITIONS FOR A 10-YEAR INVESTOR VISA
- You must ensure that within the total investment of AED 10M, 60% of that amount or AED 6M of the total investment is made in sectors other than the real estate market.
- The investors will have to prove that the amount invested is not loaned.There is also a condition that you must have retained the investment for at least three years.
- There should also be financial solvency of the investment for the amount of AED 10M.
- Investors with a 10-year visa can include an executive director and an advisor apart from their children and spouse.
- This visa can also be extended to business partners if each contributes an investment amount of AED 10M.
- Foreign investors can apply for a multiple-entry permit for a six-month period.
The long-term residence is also applicable to persons with specialised talents in the field of art, culture or science. One of the many conditions for them is that they should be accredited by the ministry in their respective fields.
A 5-YEAR INVESTOR VISA
Real estate investors as well as entrepreneurs can apply for a 5-year residence visa in the UAE. However, the eligibility criteria for both groups differ:
CONDITIONS FOR A 5-YEAR PROPERTY INVESTOR VISA UAE
- It is mandatory for the investor to make an investment in a property that is not less than AED 5M.
- The investors will have to prove that the amount is not loaned.
- Another condition is that the property must be retained for at least three years.
CONDITIONS FOR A 5-YEAR BUSINESS VISA
- Entrepreneurs who have an existing project with the capital amount of AED 500,000 to apply for this visa.
- You can avail of a multi-entry visa for six months. After the term expires, you can renew your visa for another six months.
- The entrepreneurs can include a partner and three executives apart from their spouse and children with this visa.
DUBAI INVESTOR VISA RULES
Now you know about the basic requirements and conditions to attain a real estate investor visa. There are some micro details to this information that are applicable to real estate visa for Dubai:
- The investment value of AED 10M is the purchase value of your property and not the current market value. For instance, property will not qualify for a visa if you purchased it for AED 9M a few years ago and it is currently worth AED 10M.
- Investment is also subject to property type. It’s recommended to contact the Dubai Land Department to find out which property types are eligible for the long-term visas.
- The investment should be made in a property that is in a habitable condition.
- Any property that is under construction, or there is a dispute or not ready will not be considered for granting investor visa.
- In addition to this, the property should not be declared unsafe by the authorities for any reason to qualify for an investor visa.
- It is also necessary that the property should be in a freehold area and you are the rightful owner. If the property is in a leasehold area then you are not the rightful owner. In such a case, it needs to specify for how many years you are leasing the property.
- The list of properties that are acceptable for an investor visa include apartments, serviced apartments, townhouse, villas, office, hotel rooms, hotel apartments and warehouse.
- The list of property that is not acceptable for real estate visa includes off-plan property, leasehold property and disputed property.
THINGS TO CONSIDER
Since the UAE investment visa rules keep changing rapidly, it is important to consider some visa rules update regarding investor visas.
- The UAE has recently launched “Thrive in Abu Dhabi” programme that encourages international investors to invest in key sectors in the capital city. Under this programme, investors can now obtain a 10-year residency in Abu Dhabi.
- The UAE has made an unprecedented change in the immigration laws to pave way for investors to set up business operations in the country. As per the UAE new Citizenship law, investors can become the citizens of the UAE after investing in the country.
- It is not necessary to make an investment in a single property worth AED 10M. You can invest in a maximum of three properties with a total worth greater than or equal to the required amount.
- You are also eligible for a real estate visa investor visa Dubai on the mortgaged property if you have paid off the mortgage value of AED 10M.
- In case of joint ownership of a property, it is necessary that a person applying for an investor visa has a share of AED 10M.
- In the case of joint ownership of the husband and wife an attested marriage certificate should be provided as proof along with other necessary credentials to apply for a real estate investor visa in Dubai.
- Those who want to sponsor families also need to consider new UAE visa rules for the family as they are also applicable in attaining long-term visas.
FAQS
Getting an investor visa in the UAE is contingent upon documentation, cost and application format. Aside from 3-year investor visa, you can now apply for 5 or 10-year investor visa in Dubai.
The Business Gold Visa is a gateway for global entrepreneurs who intend to set up businesses in the UAE. Under this visa, business magnates from all over the world can get a long-term visa for themselves as well as their dependents. It is one of the special types of visas in Dubai.
- You must have sufficient entrepreneurial experience.
- You must be a shareholder of a start-up or a senior role in a company.
- It is important for you to consider relocating to the UAE and set up a business.
- You must have a tangible business idea that you intend to bring to life in the country.
The key benefits for investing in Dubai are as follows:
- You can reside freely in the country.
- You can open a bank account in Dubai as well as other emirates.
- You can obtain a driving licence in Dubai.
- You can teach in schools in Dubai.
