Property Investor Visa in Dubai – A comprehensive overview
The Property Investor Visa is an important component for foreigners wishing to buy and invest in property in Dubai. This special visa allows you to settle in the United Arab Emirates (UAE) on a long-term basis and benefit from the advantages of the flourishing property market.
What is a Property Investor Visa?
A Property Investor Visa is a visa intended for foreign investors who wish to invest in property in Dubai. It provides a residence permit that allows investors to stay in Dubai with their family members for a certain period of time. The requirements for this visa depend on the amount of investment made.
Requirements for the Property Investor Visa
In order to apply for a Property Investor Visa, investors must fulfil some basic criteria:
- The purchase value of the property must be at least AED 1 million.
- The property must be fully owned by the investor and must not be mortgaged.
- The applicant must be able to prove the source of their income and assets.
- A valid passport and other personal documents must be submitted.
How to apply for a Property Investor Visa?
Applying for a Property Investor Visa involves several steps:
- Property purchase and proof of title deed(property deed).
- Submission of the required documents to the Dubai Land Department (DLD).
- Applying for the required authorisations.
- Receipt of the visa by the GDRFA authority.
Advantages of the Property Investor Visa
A Property Investor Visa offers numerous benefits including:
- Enables long-term residency for the investor and their family.
- Access to the growing markets in Dubai and the UAE.
- The opportunity to benefit from tax exemption on capital gains.
Conclusion
The Property Investor Visa is a valuable tool for investors looking to acquire property in Dubai. With clear requirements and processes, the visa offers an excellent opportunity to take advantage of Dubai’s vibrant property landscape.
Illustrative example on the topic: Property Investor Visa
In one example, a foreign investor, Mr Schmidt, might decide to buy a flat in Dubai for AED 1.5 million. After preparing the documents required in advance, he submits his application for a Property Investor Visa to the DLD. Once his documents have been successfully reviewed, he not only receives his residence permit, but can also bring his family to Dubai. This opens up many opportunities for him, both in terms of living and working as well as investing in other properties in the region.
