UAE Resident Status: How to Obtain Residency for Investing in Real Estate in Dubai

Purchasing real estate in Dubai offers more than just an investment opportunity; it also provides a pathway to becoming a resident of the country. In 2022, tens of thousands of foreigners obtained a real estate investor's UAE visa, with nearly half of them securing the prestigious Golden visa, which comes with significant privileges. Read on to discover who is eligible for residency, the process of obtaining it, and the benefits it offers.

• What Is UAE Residency?
• Visa Types for Dubai Real Estate Owners
  
• The Advantages of a Real Estate Investor’s Visa in Dubai
  
• UAE Residency for the Family
  
• What Are the Advantages of a Golden Visa?
  
• Real Estate Selection Criteria for Obtaining a Resident Visa in Dubai
• Resident Visa in the UAE for Purchasing Real Estate with Mortgage
  
• Required Paperwork to Apply for Residency
  
• Visa Acquisition Stages for Real Estate Investors in Dubai
  
• How Much Does Receiving a Dubai Real Estate Investor Visa Cost?
  
• How to Renew a Dubai Real Estate Investor Visa
  

What Is UAE Residency?

A resident visa in the UAE is similar to a residence permit. It allows a foreign citizen to stay in the country for a long time and enjoy various benefits for a comfortable life that are not available to tourists. There are different types of resident visas. Here is who is eligible:

• Employees working in local companies.
• Freelancers with an income of at least $5,000 per month.
• Students studying in the UAE.
• Retirees with a monthly income of at least $410.
• Talented individuals provided they made a significant contribution to science or art.
• Investors provided they have invested in real estate or business.

Visa Types for Dubai Real Estate Owners

Homeowners in Dubai are eligible to apply for two types of resident visas:

• Eligible for a two year resident visa if they purchase real estate for at least 750,000 AED ($205,000) in Dubai or for at least 1,000,000 AED ($272,000) in other emirates.
• Eligible for a 10 year resident visa if they purchase real estate for at least 2,000,000 AED ($545,000). In this case, the owner is eligible for a so-called Golden Visa that provides a lot more opportunities (more on this below).

Foreigners can buy real estate in the UAE only in special freehold zones. Dubai has several dozen such zones while there are only 17 in Abu Dhabi so far. This is due to the fact that foreigners have been allowed to own properties in the capital of the UAE only since 2019.

Many apartments and houses in Dubai are sold furnished. The purchase of furniture and utensils may require a separate contract. In such cases, the amount invested in real estate (which is considered for visa eligibility) will be lower than the total purchase price.

The Advantages of a Real Estate Investor’s Visa in Dubai

The holder of a two-year resident visa can reside in the UAE and enjoy the following opportunities:

• They can obtain an Emirates ID (a resident’s identity card).
• They can open a bank account.
• They can obtain a driver's licence.
• They can connect utility services in their own name.
• They can move to the UAE with their family.

There are a few important details to consider: a two-year visa does not come with a work permit, and its holders cannot leave the country for more than six months in a year. If a resident spends more than 180 days consecutively outside the country, they risk losing their visa. Exceptions are made for individuals leaving for medical treatment or studies. Additionally, a visa recipient must apply for tax residency in the country.

UAE Residency for the Family

A resident can sponsor visas for their immediate family and move them to the UAE. To do so, they need to comply with the following conditions:

• Daughters must not be married.
• Sons must be no older than 25.
• Parents will be asked to prove an income of 20,000+ AED ($5,400+) per month.

To become a visa sponsor for their family, a man must have a reported monthly income of at least 4,000 AED ($1,100). On the other hand, the female sponsor's monthly income must be more than 10,000 AED ($2,700).

It is important to remember that the floor area of the property must be sufficient to accommodate the number of family members applying for visas. Both the relatives and their sponsor must undergo the appropriate procedures, including a medical examination and obtaining a certificate from the police.

What Are the Advantages of a Golden Visa?

A Golden Visa holder in the UAE has more opportunities than a holder of a standard two-year visa:

• There are no requirements for a minimum period of residence in the country for a Golden Visa holder, and they can freely leave the country at any time.
• In addition to their spouse, children, and parents, a Golden Visa holder may bring domestic workers into the country without having to confirm income.
• There is no need to attend additional classes before taking the exam to legalize your driver's license.
• Medical service and insurance packages are available as paid services, starting from 2,400 AED ($653).
• You can apply for an Esaad Privilege Card and receive discounts on education, medical care, car purchases, and a range of other services.
• Children of Golden Visa holders can receive education in the country.
• In the event of the death of a Golden Visa holder, their relatives have the right to remain in the country until their document expires.

Real Estate Selection Criteria for Obtaining a Resident Visa in Dubai 

Making a purchase in the freehold zone is not the only condition for obtaining an investor visa. Two-year visas and Golden Visas have different additional selection criteria. 

In the case of a joint real estate purchase, each applicant for a visa must invest an amount no lower than the required minimum. The only exception is if the shares are owned by spouses.

Resident Visa in the UAE for Purchasing Real Estate with Mortgage

To purchase a home with a mortgage, a visa applicant needs to choose a bank that has the appropriate permission. To obtain residency, the initial instalment should be at least 50% of the property price. The bank must issue a mortgage agreement and a special letter called NOC (No Objection Certificate), confirming that the bank has no objection to the applicant receiving residency.

Previously, using credit funds was allowed only for obtaining a two-year visa. Now this option is also open to 10-year golden visa applicants. The initial instalment must also be at least 50% and exceed 2,000,000 AED ($545,000). This means that a mortgage can be used to cover the price difference when buying a more expensive home.

Required Paperwork to Apply for Residency

The list of documents for obtaining residency in the UAE does not differ much from that for a residence permit in many other countries. There is only one significant exception: the country's authorities require a medical examination in an accredited clinic.

What else is required:

• An international passport.
• A certificate of ownership (title deed).
• A valid visa.
• Photos.
• A certificate of clean criminal record from the Dubai Police Department.
• A Medical Fitness Certificate confirming the absence of HIV and tuberculosis.
• Medical insurance.
• A confirmation of income of at least 10,000 AED per month ($2,700) for a two-year visa or bank statement.
• A marriage certificate (in case the property was purchased by the spouses jointly).

Visa Acquisition Stages for Real Estate Investors in Dubai

You can start applying for an investor visa after receiving your certificate of ownership for the residential property (title deed).

Stage 1. If the applicant was not personally involved in purchasing the property, they need to enter the UAE legally.

Stage 2. Prepare and translate the documents of the visa applicant and their family.

Stage 3. Obtain a clean record certificate from the police department in the UAE.

Stage 4. Order tests in an accredited clinic (for HIV and tuberculosis), get a chest X-ray, and a Medical Fitness Certificate.

Stage 5. Take out a medical insurance policy.

Stage 6: Apply for a residence visa at the General Directorate of Residency and Foreign Affairs (GDRFA). You can do it online on the organisation’s website. Go to the Services section, select the type of resident visa, fill in the application form, and attach copies of the documents.

Stage 7. Submit your biometric data and the original international passport and pay the state fee.

Stage 8. Obtain a visa and your Emirates ID. Documents will be ready in two to three weeks.

You can apply online and submit the paperwork not only through the GDRFA portal but also through the Amer immigration service, which is another establishment providing this service.

In the UAE, the grounds for refusing residency are not limited to incorrect or incompletely submitted paperwork. The authorities of the country reserve the right to refuse issuing a visa if the applicant had previously held a work visa but left the country without cancelling it. Additionally, an applicant may fail to receive residency even if they have previously obtained a visa but never used it.

How Much Does Receiving a Dubai Real Estate Investor Visa Cost?

Obtaining residency in the UAE will entail additional expenditures. The most significant one will be a state fee of 15,000 AED ($4,100). In addition to that, you will have to pay for the services of various experts:

• A lawyer, which will cost at least $500 per hour
• A translator for your documents, which will cost at least $20 per text page.
• A notary to certify your documents, which will cost at least $50.
• A clinic for your medical examination, which will cost at least $87.
• An insurance company for your medical insurance, which will cost at least $400.

How to Renew a Dubai Real Estate Investor Visa

A real estate investor visa can be renewed an unlimited number of times, with one condition: the grounds on which the visa was issued must be preserved, which means the visa holder must remain a homeowner. After living in the UAE for 30 years, a resident can apply for citizenship.

A resident investor has the right to stay in the UAE for up to 30 days after their visa expires. For each subsequent day of delay, they will have to pay a fine.

In a Nutshell

A foreigner purchasing real estate in Dubai, depending on the size of their investments, may be eligible for a two-year visa or a golden visa. Residency entitles you to open bank accounts in UAE banks, acquire a driver’s licence, move your family, and run a business in the country. The procedure of acquiring residency following a property purchase takes four to six weeks, and the visa can be renewed on the same grounds it was first issued.