In previous years, the UAE real estate market has shown tremendous growth due to its increasing ROI and accentuating global appeal. The emirate is continuously attracting investors around the globe due to the strong capital appreciation the emirates vows to the expats.
For the investors, Real Estate investment in Dubai holds significant importance, since the city of gold stores something for everyone – from low & medium range to ultra-luxury properties are available for the interested buyers.
The fact that properties Dubai is home to are unparalleled when it comes to luxury and class can certainly not be denied. This is one of the major reasons investors are keen to invest their money in this city. If you have also been planning to do this, you will have to start the process by getting the UAE investor visa. For this, you will find all the relevant information in this post.
Earlier this year, the emirates announced two long term visas that real estate investors are eligible for. The first one, falling under the General Investor category, is suitable for those who own a diverse investment portfolio as only 40% of their total investments can be made in real estate. The 5-year visa, on the other hand, is explicitly targeted to real estate investors in the emirates.
Let’s take a look at some of the basic rules and regulations regarding the UAE investor visa.
It is obligatory for a foreign investor to have at least AED 10M public investment in the UAE so as to get the eligibility for the 10-year long term visa. They can make investments in any of the seven emirates without a sponsor. Here is the list of investment types that are eligible to achieve a long-term real estate investor visa under the General Investor category.
• Starting a new company in any of the Emirates with a capital investment equal to AED 10M.
• Making partnership in a prevailing company by contributing to a share not less than AED 10M.
• Deposits with assets worth at least AED 10M in any Emirate of the UAE.
• As far as real estate investment visa Dubai is concerned, it entails investing AED 10M investment in one of any forms discussed above.
The second category includes a long-term visa 5-year residence visa without a sponsor. The conditions include:
• Investors should make an investment in a property that is not less than AED 5M.
• It is mandatory for the investor to prove that the paid amount is not loaned.
• The property must be reserved for a period of at least three years.
Entrepreneurs, having an existing project with the capital amount of AED 500,000, are also entitled to apply for this visa. A multi-entry visa is also allowed to them for six months, which is subject to renewal after another six months. Apart from this, they can include a partner and three executives, besides involving their spouse and children with this visa.
In the case you want to make the UAE your second home, the government has announced a Golden Card permanent residency visa to encourage entrepreneurship in the region.
Now that you know about some basic requirements and conditions regarding obtaining a real estate investor visa, there is some other information you should also be aware of. These include details related to the rules that are applicable to a real estate visa for Dubai.
• The investment value of AED 10M is actually the purchase value of your property. It should not be subject to the current market value. For example, the property you buy will not qualify for a visa if you purchased it for AED 9M a few years back and now it is worth AED 10M.
• Investment is also related to property type. Therefore, it’s best for you to contact the Dubai Land Department to find which property types are eligible for the long-term visas.
• Investors should make an investment in those properties that are not in a habitable condition. Any property that is disputed, under construction, or not ready will not be considered for issuing an investor visa. Moreover, the property should not be professed unsafe by the authorities for any purpose to be suitable for an investor visa.
• It is equally paramount that the property should be in a freehold area and you are the legal owner. Investors will not be a rightful owner of the property which belongs to a leasehold area. In such circumstances, you need to mention how many years you are leasing the property.
• The list of properties that are suitable for an investor visa include apartments, serviced apartments, townhouse, villas, office, hotel rooms, hotel apartments and warehouse. So, whether you want to make an investment in Al reef villas or Dubai Marina townhouses, you are eligible for a real estate visa for Dubai. However, off-plan property, leasehold property and disputed property are some types that are not suitable for an investor visa.
In all, since the emirate rules regarding visas keep changing constantly, it is important to consider each and every detail thoroughly before you plan to make an investment in pursuit of a real estate visa.