RESIDENT VISA APPLICATION FOR INVESTORS
The property investment Residency Visa is directed towards high-net-worth expats who wish to acquire residency in Dubai by purchasing a property. Currently, investors are entitled to apply for three year or five-year property residency visa as facilitated by DLD.
- The asset must be valued at AED 750,000 or more at the time of purchase
- The asset must be a single residential property; not commercial
- The asset must be a completed property, not off-plan
- At least 50% of the property value must be paid or at least AED 750,000 must be paid to the bank in case it is mortgaged; NOC is required
- Amount invested must not be on a credit basis
- Joint ownership is possible only if the share of everyone constitutes at least AED 750,000
- The applicant of a 3-Year Visa is not required to live in his property. Hence, a 3-Year Visa can be issued even if the property is leased to a third party.
- The total fees payable to the DLD for the issuance of a 3-Year Visa amount to about AED 15,000.
- The asset or owned share for one property or more must be valued at least AED 2 million
- At least AED 2 million of the property value must be paid to the bank in case it is mortgaged; NOC is required
- Husband and wife can share one property; marriage certificate required
- The costs for the issuance of a 5-Year Visa amount to approximately AED 3,500 per applicant.
- The applicant must at least be 55 years of age
- The asset or owned share for one property or more must be valued at – least AED 1 million or a AED 1 million deposit in any local bank for a minimum of three years
- The asset must be fully paid, not mortgaged Husband and wife can share one property; marriage certificate required
GLAM PROPERTIES IS A BOUTIQUE REAL ESTATE COMPANY OPERATING IN DUBAI, UNITED ARAB OF EMIRATES.
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