Yes, as a property owner in Dubai, you are eligible to apply for a residency visa, which allows you to live in the UAE. However, it’s important to note that owning a property does not automatically grant you a residency visa. You still need to meet certain conditions and go through the visa application process.
According to the UAE investor visa program, the property must be completed upon purchase and its value must be of at least AED 1 million. Holders of residence visas through real estate purchase may also sponsor their dependents.
Residency visa in Dubai, UAE through a property purchase
Here are the general steps to obtain a residency visa as a property owner in Dubai:
To get help in searching for a property in Dubai Just register your Interest.
1. Property Ownership:
Firstly, you must be a legal property owner in Dubai. As discussed earlier, you can own property in designated freehold areas or through a leasehold agreement.
2. Minimum Property Value:
In the past, one of the conditions for obtaining a residency visa through the property in Dubai ownership was meeting a minimum property value threshold. The value requirement was subject to change, so it’s essential to check the current regulations to see if this condition still applies.
3. Income and Background Check:
You may need to provide proof of a steady income and undergo a background check as part of the visa application process.
4. Health Insurance:
Health insurance coverage is typically mandatory for obtaining a residency visa in Dubai.
5. Visa Application:
You can apply for a residency visa through the General Directorate of Residency and Foreign Affairs (GDRFA) in Dubai. The application process may vary depending on your circumstances, so it’s best to check with the authorities or a qualified immigration consultant.
6. Renewal:
Residency visas in Dubai are usually issued for a limited duration, such as two or three years. You will need to renew your visa before it expires.
It’s important to keep in mind that visa regulations are subject to change, and the UAE government may update its policies over time. Therefore, it’s advisable to consult official government sources or seek advice from immigration experts to ensure you have the most up-to-date and accurate information when planning to live in Dubai as a property owner.