Dubai is a perfect hub for investors in the world of real estate. It not only offers great opportunities to invest in but also gives huge amenities to the people living there. There is no doubt, it is becoming one of the top places to invest for various investors. One of the biggest reasons behind such huge investments is getting the Residency Visa. It is the visa that you can get easily by investing in Dubai property. If you are planning to shift to Dubai, investing in a property can be a great step towards getting your residency visa.
Why Invest in the Dubai Real Estate Market?
As mentioned above, investing in Dubai gives you a lot of major benefits. Below are some of the reasons why you must invest in the Dubai Real Estate market:
- You get high ROI on most of the investments you made in Dubai.
- There is a zero tax environment in Dubai.
- You become eligible for the Residency Visa
Types of Residency Visa with property investment in Dubai
One of the biggest benefits of investing in Dubai is that you are eligible for a Residency Visa. When you invest in Dubai from abroad, you are eligible for three different types of Residency Visa:
2-Year Residency
One of the easiest residency visas that you can get for Dubai is the 2-Year Residency. To get it, you will only need to buy a property of a minimum amount of AED 750,000. With the visa, you, along with your family, spouse, and children, can live in Dubai for 2 years. The visa is renewable as long as the ownership requirements are met. However, the property must be in your name or in joint ownership with your spouse.
5-10 Year Golden Visa
If your investment potential is higher, congratulations, you can get a 5-10-year golden visa. To get a Golden Visa through property investment, you must invest at least AED 2 million or more in property. This visa helps you to stay, work, and live in Dubai. This type of visa is usually beneficial for those who want to enjoy long-term residency and multiple entries and exits. Of course, it can also be renewed as long as the ownership requirements are met.
How to Get a Residency Visa with Property Investment in Dubai?
Now that you know the two main visas that you get while investing in Dubai Property, below is the step-by-step guide to get it:
- Look for the right property. There are many factors that you must consider while buying the property. If needed, consider talking to a real estate agent.
- Once the property is finalized and you have signed the agreement with the seller, you will need to get a title deed from the Dubai Land Department (DLD).
- The next thing that you will need to do is to visit the Dubai Land Department’s Cube Centre or an approved service center.
- When done, submit the required documents and pay the visa fees. The fees vary depending on visa type and processing.
- Go through the medical checkup and apply for the emirate ID.
What are the Documents That You Need to Submit to Get the Residency Visa?
Below are some of the documents that you need to submit for getting it:
- Passport copy
- Title deed
- Utility bill
- Good conduct certificate
- Medical fitness test results
- Income certificate (if purchased on a Mortgage)
Benefits of Getting a Residency Visa
Below are the benefits that you get with a Residency Visa:
- You can easily live in Dubai for 2-10 years based on your residency visa.
- Enjoy government insurance services
- Enroll your children in the government or public schools
- You can work in Dubai
Conclusion
Dubai is not just about beautiful islands, but it is a full real estate market to invest in. Investing in property in Dubai helps you get high returns. But more than that, it is a clear way to receive a residency visa. There are 2 basic types of residency visas: 2 2-year or 10 10-year golden visas. To get it, you will need to purchase a property that is a minimum of AED 750,000 to AED 2 Million. You must submit the supportive documents, including the title deed, income certificate, passport, etc. Once you get the visa, you are eligible to travel to Dubai as much as you want. Along with that, you will also enjoy a lot of benefits of getting the visa.
