Buy Property in Dubai and Get Residency Visa – Myth or Truth?

Dubai offers favourable terms to its investors including tax-free property, business-friendly environment, and residency vis. People want to know more about the residency visas it gives them citizenship rights and they can move freely in the city. However, the more research on this topic the more you get confused as the information varies from one website to another. It’s because of the frequent update of terms and conditions by the Dubai government as they keep changing policies to make it suitable for investors. If you are also looking for the answer of the question “Can I Get Residency Visa If Buy Property in Dubai?”, then you have landed at the right place as we are going to discuss the same questions and some similar queries in this article.

Q1. If I buy Any Property in Dubai Does It Implicate that I’m Automatically Eligible for Residency Visa?

Ans. No, getting a residency visa is not as simple as people believe. It has a complete procedure that you need to follow. There are different types of properties and visa types available in Dubai and buying any type of property doesn’t mean the government will grant you a residency visa. Commercial, residential, freehold, mortgage, and ownership are some other criteria you have to consider to apply for a residential visa.

Remember, 1M is a minimum threshold for the residency visa. If the worth of the property is not equal to AED 1M, then you can even apply for the residency visa. Moreover, there is another very important condition you need to fulfil, i.e. the property is ready and you have a title deed issued by Dubai Land Department.

Q2. Does Dubai Government Offer Lifetime Visa on Buying Property There?

Ans. There is no lifetime visa thing offered by the Dubai Government. If you buy property in Dubai which have worth AED 1M, then you get a three-year residency visa. In a recent announcement, the government has announced to grand 5-year visa for real estate investors and retirees and 10-year visa for the business owner. However, further terms are conditions are not revealed yet.

Q3. What are Different Conditions and Types of Properties Which Help to Get Residency Visa?

Ans. There are different situations and conditions related to buying a property in Dubai, i.e. off-plan, joint ownership, buying property on the company name, etc.

• You can apply for a residency visa if you buy off-plan visa as the property should be ready to get a residency visa.
• You can apply for a residency visa if you have a joint property in Dubai, but your share worth must be AED 1M.
• To get a residency visa, the property should be on your name, but if you buy property on your company’s name, then you can’t apply for the visa as individually rather you have to apply for the visa through that company.
• If your spouse has the property of worth AED 1M, then he or she will be eligible for buying property there. Once they get a residency visa, they can sponsor you for residing there.
• You can’t become an investor when you have gifted a property. Likewise, donated and the gifted property also doesn’t have title deed so you can’t apply for the residency visa.

Q4. Can I Get Residency Visa On Buying Commercial Property in Dubai?

Ans. A few years ago, commercial property owners were not awarded the residency visa. The recent rules allow you to apply for Dubai Property Visa for having a commercial land. However, the plot of land must be an inhabitable condition as the investment visa isn’t granted on empty land.

• You can get Dubai Property visa for buying a warehouse as it falls in the category of commercial property. Make sure the warehouse is present in the freehold area.
• Dubai Property visa is granted to the owner if he buys an office in a freehold area.
• You can get residency in Dubai if you buy a villa in Dubai. However, the villa shouldn’t be a lease and situated in the freehold area.
• On buying an apartment you can get a residential visa if the apartment worth AED 1M, freehold, and present in a habitable area.
• Residency is granted on buying a hotel room in Dubai.

Q5. What Types of Documents Do You need to Submit for Dubai Property Visa?

Ans. Here is the list of documents required for Dubai Property Visa:

• Good Conduct Certificate from Dubai Police
• Original Title Deed
• Entry or Current Visa Copy
• Passport Copy
• Emirates ID Copy
• 1 Passport Size Photo with White Background
• Attested Marriage Copy If You Have Joint Property

Q6. What Is the Overall Cost or Charges You Have to Pay to Get Residency?

Ans. As mentioned before, the property value must be AED 1M or above it if you want to get a residency visa. It doesn’t mean you have to pay just the purchased price rather you will spend 6.5% on top. To register the property, you will pay 4% to Dubai Land Department while 2% will be paid to the real estate agent. Remaining 0.2% will be used on different expenses and fees of the home.

Q7. Is It Possible to Get Residency Visa On Mortgage?

Ans. Yes, you can apply for a residency visa if you have already paid the 50% amount of mortgage. Again, the property must have worth AED 1M or more. Otherwise, you don’t qualify this category.

Q8. What Is the Rule for Getting Residency Visa on Leased Property?

Ans. The property should be on your name to get a residency visa. In the case of leased property, the property isn’t on your name so you can’t apply for the residency visa.

Q9. Is the Residency Visa Renewable?

Ans. Yes, it’s renewable and you have to renew it after every three years. Moreover, the changes rules and conditions don’t apply to the existing visa which means you can use your visa as it is.

Q10. To Whom You Can Sponsor On Dubai Property Visa?

Ans. You can sponsor your own family members, i.e. parents, wife, son, daughter. Siblings and cousins don’t fall into the category of sponsored persons.

Hopefully, you have got the answers to all the questions and all ambiguities would be cleared now. If you want to know more about this topic, you can tell us via email or by commenting below.