How To Get Residency Visa through property investment in UAE
The United Arab Emirates (UAE) offers many opportunities for foreign investors looking to invest in property. One such opportunity is the residency visa, which can be obtained by investing in property in the UAE.
In this blog post, we will outline the requirements for obtaining a residency visa through property investment in the UAE.
In order to obtain a residency visa through property investment in the UAE, foreign investors must meet the following requirements:
-The value of the property must be at least AED 1 million (approximately USD 272,000).
-The property must be located in a freehold area.
-The property must be purchased in the investor’s own name.
-The investor must have a valid passport and bank account statements from the last 6 months.
Once the above requirements have been met, foreign investors can apply for their residency visas by submitting the required documents to the nearest UAE embassy or consulate. The documents required for a residency visa application are as follows:
-A completed application form
-A copy of the investor’s passport
-A copy of the title deed for the property being purchased
-Bank statements from the last 6 months
-Proof of income (e.g. pay stubs, tax returns)
-A medical report from an accredited hospital in the UAE
After submitting all of the required documents, applicants will need to undergo a medical examination and an interview at the nearest UAE embassy or consulate. Once these steps have been completed, applicants will be issued their residency visas.
TYPES OF UAE INVESTOR VISA
- A 10-YEARS INVESTOR VISAÂ UAE (Golden Visa): For a 10-year visa, investors must have a minimum of AED 10 million worth of public investments to apply, with no more than 60% of those investments in real estate. Additionally, investors must retain their investment for three years and may not have been loaned the original investment amount.
- A 5-YEARS INVESTOR VISA UAE: It is mandatory for the investor to make an investment in a property that is not less than AED 5M. The investors must ensure that the amount is not loaned. Another condition is that the property must be retained for at least three years.
- A 3-YEARS Residence Visa: You must invest at least AED1,000,000 in real estate of a designated and approved area by the Government. Once you have purchased the property you may apply for a residence visa. This visa will be valid for up to 3 years, renewable, as long as you still own the property and you visit the country at least once every 180 days.
Conclusion
Investing in property is a great way to obtain a residency visa in the United Arab Emirates (UAE).
There are many opportunities for foreign investors looking to invest in property in the UAE, and with some careful planning and preparation, it is possible to obtain a residency visa through property investment.
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