In a big step not long ago, the UAE government added a new long-term residency programme for foreign nationals in Dubai and all of UAE, granting long term visas to them via the property investment route. This new system enables foreigners to live, work and study in Dubai without having a national sponsor and with 100 per cent ownership of their business on the UAE’s mainland.
These special visas are being issued for periods of 3 or 5 years and come with automatic renewals too. Want to grab one? Check out some great Dubai properties here.
Why the World Wants to Call Dubai Home?
Visiting a place as a tourist and moving there are two separate worlds. While the infrastructure, the lifestyle and the glitz of Dubai are as good as it gets anywhere in the world, it is the invisible benefits that we list here for you. Things you will find most endearing about the Dubai life, as time passes.
Get a taste of true globalization – Dubai is a cultural melting pot, comprising of people just like yourself. Rub shoulders with folks from all over the world. Get a life changing opportunity to learn and teach.
The Land of Opportunities – Dubai’s economy has rapidly grown in the last fifteen years, bringing with it all manner of opportunities in every economic sector. A spouse or adult child with you can quickly find work in Dubai if they have the appropriate skillset and a go-to attitude to match. Dubai is the place for the whole family to develop new skills, access new grounds and travel to unseen lands.
Comfortable Communication – English is pretty much the second language of Dubai. You do not need to know any other language to go about life here. Certainly not Arabic. But when you move here, try a few Arabic classes, because its polite and so cool to know a little bit of the local language.
Get Well Travelled – Take a look at the map around Dubai and a flight out (30 minutes to a few hours flying) can take you almost everywhere from this air travel hub of the Middle East.
Stay Nestled in Safety – Violence and crimes are virtually non-existent in Dubai – or any other of the UAE, while you will never likely be mugged, accosted, or have your home burgled. For most of us, that is serious peace of mind.
Dubai is Cheaper – Dubai’s piping hot economy, full of opportunities only means that the rapid turnover of goods will boggle your mind. This also means that the sales at certain times of the year (Ramadan, Dubai Shopping Festival, and Dubai Summer Surprises) offer many chances to truly save money on purchases you were going to make anyway. The cost of real estate you paid stops pinching you immediately too.
All this and more, are yours now, for the first time ever, with a simple property purchase. Read on to find out more.
Property Investment Linked Long Term Residency (3 and 5 Years Visa, Easy Renewal Enabled)
Property Investors are entitled to apply for a 3-year and 5-year residence visa in the UAE under some conditions. Here is what you need to know.
Value of Property – The property purchase value (not present market value) of your property needs to be at least AED 1,000,000 [AED 1 Million] or above.
Type of Property – Earlier, the Dubai Property visa was issued primarily against residential properties (Apartment/ Villa) but currently, the Dubai Land Department accepts long term residency applications for commercial properties (Hotel Room, Hotel Apartment, Office, Warehouse) as well.
Multiple Property Ownership – You are eligible for the UAE property investor visa when your total investment is AED 1,000,000 or more in at least one of three maximum properties.
Joint Property Ownership (Wife and Husband) – If the property is jointly owned by wife and husband, then either one can apply for a UAE property investor visa despite the property’s total purchase value of AED 1 million, being divided among both of them. However, an attested marriage certificate must be furnished in this case.
At Square Yards, we think this is a shining example of visionary leadership striving to create a big opportunity for everyone aspiring to work and invest in the UAE. Dubai, besides being a business-friendly and tax-free environment is also a vibrant property market offering high quality real estate, stable rental yields and continuous planned expansions. It is also a great initiative for real estate investors who have been here for long. It is a big security to know that you can remain.
With presence in 10 countries globally, her firm Square Yards is one of the biggest players in the Dubai primary market with a reported growth rate of 75% Y-o-Y. Our tech-enabled team of experts has been helping Non-resident Indians as well as other foreign nationals navigate UAE’s property markets for the best property transactions, making us a trusted and loved brand.
Want to call Dubai home by taking the property investment route? Get in touch with us today.
Thanks Darcey Beau for the wonderful image.