UAE Property Visa – All The Information You Need To Know

There are plenty of reasons why businesses prefer the UAE to invest in. The state-of-the-art infrastructure, quality of life, and flexible Visa rules are just a few of the chief factors that compel people in business to invest here. With the introduction of the UAE property visa, the process of living and investing in the UAE has become more accessible. Owing the businesses worldwide are finding their market and contributing to the country’s economy. But what’s the procedure for applying for this Visa? What are its benefits and types? We have answered all such questions here. Scroll down and start reading. 

Property Visa UAE – The Various Types 

UAE is a diverse, expat-friendly country. It offers an exciting lifestyle to anyone living here. There is no shortage of options for investors to choose from in the property market. Whether you’re an investor or a property buyer, you can apply for a property visa in the UAE. You’d require making a minimum investment in a freehold property first. The eligibility criteria for a UAE property visa vary depending on the type of Visa you select. The following are the Property Visa types in the UAE:

• 6-Month Visa (Multi-Entry)

This Visa works like a tourist visa and offers many benefits. One can make multiple entries in the UAE within six months. It is applicable across all seven emirates for properties worth 1 million AED or more. It is issued by the relevant immigration authorities and does not require you to contact the Dubai Land Department. 

• 3-Year Property Visa UAE

Issued by the Dubai Land Department, the 3-year property Visa is for people who wish to invest in a property worth 750,000 AED or more in the UAE. The property investment limit was 1 million AED earlier and was reduced in September 2021. Obtaining this Visa allows the investor to become a resident of the UAE and exercise varied benefits, including family sponsoring, getting an Emirates ID, and a driving license. 

• 5-Year Property Visa

Investors who wish to invest in a property worth 2 million AED can apply for the 5-year property Visa UAE. It requires them to hold on to the investment for a minimum of 5 years. Like the 3-year property Visa, it also offers benefits like sponsoring families.

• 10-Year Property Visa

Investing more than 10 million AED in UAE, out of which 40 per cent goes for the property, makes you eligible for a 10-year visa. To apply for this visa, you’ll have to provide all the necessary proof to support your investments. These property investments should not be loaned or financed and maintained for at least three years. They can be in the form of:

• • An investment fund deposit
  • A new company with a capital of a minimum of 10 million AED
  • Partnership with an existing company (given that you have shares worth 10 million AED or more)

This property visa investment includes the applicant’s family or dependents, an advisor, and an executive director. It can also be extended to business partners interested in investing 10 million AED or more. 

Conditions Associated with Property Visa UAE

One needs to bear specific rules and conditions before applying for a property visa in the UAE. They are:

• • You can apply for a UAE property residence visa for freehold and residential properties only. 
  • The property’s value should be 1 million AED or more
  • One can use it for a UAE property Visa with a mortgaged property. This requires the person to meet all the requirements related to a minimum investment. The applicant must obtain and submit an NOC from the bank with the application file. 
  • If the applicant has multiple properties with a total value of 1 million AE or more, they are eligible to apply for a property Visa in UAE, provided they get approval. 
  • A person is suitable for a real estate visa with multiple properties that sum up to a total value of Dh 1 million (Subject to approval).
  • You can apply for and get an Emirates ID. 
  • Visa owners cannot spend an entire year (365 days) outside the UAE. 
  • The applicant needs to submit proof of income of at least 10,000 AED per month.

Steps to Apply for a UAE Property Visa

The applicant must adhere to the following steps to apply for a property visa in the UAE:

• Obtain an Entry Permit: You must obtain your entry permit from the immigration office, a Tasheel centre, or a typing centre. 
• Complete a Medical Fitness Test: Fill in the medical facility where you wish to get checked on the form and complete your medical checkup. Ensure it is a government-approved facility.
• Submit Emirates ID Application: Apply for your Emirates ID at the Amer Centre. Ensure you carry your existing Emirates ID, family photos, and Emirates ID applications for your dependents. First-time applicants will also need to provide biometric data.
• Purchase Health Insurance: You will require health insurance for the visa application process. Compare different insurance providers in Dubai to select a plan that suits your needs.
• Apply for the Investor Residence Visa: Visit one of the Amer Centres in Dubai (Al Jafiliya, Al Twar, Dubai Festival City, or Al Quoz) to submit your application for an investor residence visa.

Eligibility Criteria for a Property Investor Visa in the UAE

To qualify for a property investor visa in the UAE, you must meet the following conditions:

• You need a monthly income of at least AED 10,000 or the equivalent in a foreign currency.
• You must possess a valid health insurance coverage.
• Your property should have enough living space to accommodate family members.
• You must fully own the property, and it should be either a villa or an apartment.
• The property should be in a designated freehold area where foreigners can own real estate.
• The property’s market value must be a minimum of AED 1 million.
• If you have mortgaged your property, you must pay off at least 50% of the loan amount.
• Verifying your property ownership with a title deed issued by the Dubai Land Department (DLD) is essential.

Guidelines and Regulations for Applying for a UAE Property Visa

Before applying for a UAE property visa, remember the following guidelines.

• The property visa is only available for freehold residential properties.
• The property must have a minimum value of 1 million AED to qualify for the visa.
• You can still apply if the property is under a mortgage, provided you meet the required investment criteria and submit an NOC ( No Objection Certificate) from the bank.
• Subject to approval, you can use multiple properties with a combined value of AED 1 million or more to apply for a property visa.
• Applicants can qualify for a visa based on combined property values, provided they meet the total value requirement of 1 million AED.
• Visa holders must avoid spending more than 365 consecutive days outside the UAE.
• The authorities will require proof of a monthly income of at least AED 10,000 as part of the application.

Benefits of UAE Property Visa

Obtaining a property Visa in UAE allows you to enjoy several benefits. They are:

• • You do not need a local sponsorship
  • As a visa owner, you can spend as much time as you like in the UAE (as per the Visa’s validity). You may travel in and out of the UAE easily. 
  • Apply for a driving license in the UAE
  • As a visa owner, you can open an account in a UAE bank and access financial services. 
  • Travel visa-free in many countries (terms and conditions applied)
  • Sponsor their family members and dependents.
  • Renew your 3-year or 5-year visas if you want to extend your investment ownership. 

Other Rules and Details you should Know

Aside from the basic requirements, terms and conditions, here’s what you need to know more about property visa UAE. 

• • The investment value should be the property’s purchase price and not its current market value. For Eg: Property you purchase for 9 million AED will not qualify for a 10-year visa even if its current value is 10 million AED or more.
  • The type of property you invest in plays a huge role, especially when applying for a long term visa. We suggest contacting the Dubai Land Department to learn more about which property is eligible for a long term visa, like five years or ten years. 
  • The investment property should be in a habitable condition. 
  • Properties under construction, dispute or not fully ready won’t be considered for a property visa.
  • Make sure the property is not declared unsafe by the government or authorities. 
  • As previously mentioned, the property should be located in a freehold area, with you being its rightful owner. Properties in the leasehold area denote that you aren’t the rightful owner. In cases like these, the applicant has to specify the leasing period.
  • Acceptable properties for UAE property residence visas are apartments, serviced apartments, villas, warehouses, townhouses, hotel rooms, etc.
  • Off-plan, leasehold and disputed properties are not acceptable for property visas. 

Recent Changes and Updates

The rules with regards to property visas in the UAE keep changing. It’s essential to stay abreast.

• • The UAE launched a new program called “Thrive in Abu Dhabi” to encourage international talents, students and investors in various sectors. Investors via this program can apply for a 10-year visa.
  • The UAE has been consistently changing their immigration laws to open more doors for businesses/investors looking to establish operations in the nation. The new UAE Citizenship law now states that investors can become UAE citizens after investing in the country. 
  • An applicant had to make a single property investment of 10 million AED to apply for a 10-year visa, which is not the case anymore. One can now invest in 3 properties (max) that sum up to 10 million AED or more.
  • Mortgage properties can be accepted for property visas provided the applicant has fully paid off the mortgage value of 10 million AED. 
  • Joint property ownership (husband and wife) requires the applicant to submit a marriage certificate as proof with other essential documents to apply for the real estate visa successfully. 
  • Applicants who wish to sponsor their family members are advised to check the latest UAE visa rules.

Frequently Asked Questions (FAQs)