Getting Visa through Homes for Sale Purchase for Property Investors

Did you know that purchasing Dubai homes for sale is one way of getting a residency visa especially for those investing in property? It may not be as simple as you think if you are caught unaware about the many changes that happened through the years about visas. Whatever you knew about the visas may no longer apply based on the current standards. There are different kinds of visas with varying purposes, conditions and limitations. We got you covered in this matter by providing you what you need to know for visa applications.

What Are The Two Kinds of Visas?

The Property Investor Visa is only applicable for investing in property located in Dubai. This type of visa can be renewed every two years by the Dubai Land Department. With this visa, you are considered a resident of UAE and can sponsor your family. You are also qualified for a driver’s license and the Emirates ID. The Six Months Residency Visa is a visa for visitors that can only be obtained through official Immigration authority like embassies and consulates. Visitors with this visa are allowed multiple entries within the six month period and applicable for any property investment anywhere in the Emirates.

What Are The Conditions Required In Getting Those Visas.

When you are applying for the visa of your choice the value of the property must be worth at least Dh1 million as shown on the title deed. But the value should be more than Dh1 million when the property is jointly owned. At the time you apply for the visa, the title deed should already be completed with your name as the owner. You should also keep in mind that this works only for freehold properties and not for off plan properties. Also remember that habitable residential properties in good condition are what counts and commercial ones do not.

How Much Will The Visas Cost?

The Property Investor Visa will cost up to Dh15,000 which includes the police clearance letter, administration fees, the typing and entry permit, application costs, the stamp, Emirates ID, medical, and DED license. For renewals and family or dependent sponsorship there will be additional payments ranging up to Dh6,000. The Six Month Residency Visa on the other hand will be lesser at only about Dh2,300 although renewing it every six months will cost you Dh1,100 each time. The cost of the repeated renewals will pile up and may cost you more over time. There are also fees for family sponsorship and renewals at Dh250.

Will There Be Any Other Requirements?

Yes, there are. You need to have a proof of income and at least earning a minimum income of Dh10,000 or of equal foreign currency every month. You are also required to submit the following documents: Title Deed, Passport, current visa, 6 Passport Photos, Certificate of Good Conduct, Bank Statements and Utility Bill.

Only you alone can choose which visa is right for you after you purchase homes for sale Dubai properties. You should invest first and established a property foothold before applying. Now that you are updated with the criteria needed for the application you can easily prepare for it in advance.  

Do you want to find out more about the real estate business in Dubai? Do you want to optimize your investments and assets from a trusted realty partner? Be sure to visit Zawaya Property LLC.

Tags: Dubai homes for sale, homes for sale Dubai, Zawaya Property