SINCE MAY 2019, A NEW LONG-TERM RESIDENCY VISA SCHEME WAS LAUNCHED, ENABLING FOREIGNERS TO LIVE, WORK AND STUDY IN THE UAE WITHOUT AN EMIRATI SPONSOR. WITH EQUALLY ATTRACTIVE BENEFITS FOR PROPERTY INVESTORS AND TO THE REDUCTION OF THE MINIMUM FINANCIAL REQUIREMENT TO APPLY FOR A 3-YEAR INVESTOR VISA, THE PROSPECT OF INVESTING AND LIVING IN DUBAI HAS BECOME MUCH EASIER AND MORE APPEALIN
Anyone can buy a property in Dubai, providing they have the funds. You don’t need to live in the emirate or work here, and there is no age limit. Freehold properties can only be purchased in designated areas for foreign investment. This is not limiting, however, since there are many freehold areas across Dubai.
Advantages of Having A UAE Residency Visa
Being able to spend as much time in Dubai as you like during the visa’s valid period and to come and go .
Having access to UAE bank accounts and financial services.
Being able to apply for a UAE driving licence.
Possible visa-free travel to certain countries.
Being able to sponsor your spouse and dependents. If you are successful in obtaining a 10-year residency visa, you can extend your sponsorship to an executive director and one advisor, in addition to your family.
Both the 5-year and 10-year visas can be easily renewed, provide you continue to retain your investment.