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. One of the most-asked questions related to investment in the emirates is about the UAE investor visas for long-term residence.
In this article, MyBayut has you covered for all your queries regarding the UAE property investor visas. There are two long term visas which were announced earlier this year, that real estate investors are eligible for. While the one under the General Investor category suits someone with a diverse investment portfolio as only 40% of the total investments can be in real estate, the 5-year visa is specifically targeted to real estate investors in the UAE. Let’s take a look at how to obtain the UAE investor visa and their conditions.
ALL ABOUT UAE INVESTOR VISAS
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. It enables foreigners to work, live and study without the need of a national sponsor. Read on to find out all about the eligibility and conditions of the long-term visas for real estate investors in the UAE.
ELIGIBILITY FOR A 10-YEAR GENERAL INVESTOR VISA WITHOUT A SPONSOR
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.
Apart from the investment checklist on how to obtain an investor visa in UAE. There is a list of conditions regarding the investment to become eligible 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.
ELIGIBILITY FOR A 5-YEAR REAL ESTATE INVESTOR VISA WITHOUT A SPONSOR
The second category of a long-term visa is for a 5-year residence visa without a sponsor. The conditions for this type of visa are presented below.
- 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.
Entrepreneurs who have an existing project with the capital amount of AED 500,000 are also eligible for this visa. A multi-entry visa is also allowed to entrepreneurs for six months, which can also renewed for another six months. The entrepreneurs can include a partner and three executives apart from their spouse and children with this visa.
If you want to make the UAE your second home, the government has announced a Golden Card permanent residencyvisa to encourage entrepreneurship in the UAE.
Outstanding students can also opt for a 5-year visa with a condition that they attain high percentiles of over 95% or a GPA of at least 3.75 upon graduation. Such students can include families with their long-term visa.
DUBAI PROPERTY 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.
- 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.
COST OF THE UAE LONG-TERM VISA
The real estate investor visa fees differ for an entry permit, data modification and renewal. Following is the list of charges that you will need to deposit for residence visas.
- New entry permit charges for residential applications are between AED 3,549 and AED 4,199 for family.
- New entry permit charges for residential application of parents are between AED 489 and AED 1,139. (If sponsor is working in free zone or private sector).
- You can renew your residential visa for your wife and children at a price of AED 3,671. The investor visa UAE costs AED 3,790 for an urgent application.
- Above mentioned prices are for the popular visa processes. You can consider the list of applicable UAE investor visa fees on official website Amer 24/7.