All you need to know about Dubai Residential Visa

In Dubai, commercial enterprise people and their circle of family members have two options for obtaining a resident visa: purchasing property and registering a company.

In previous issues, we discussed the methods for obtaining a resident visa through the registration of a business. This blog focuses on how to obtain a resident visa in Dubai through the purchase of property, what type of property is necessary, the validity period of the visa, and the advantages and disadvantages of holding a residency visa vs the visa obtained through a business enterprise registration.

What are the requirements for obtaining a residence visa?

First and foremost, it must be personal property, rather than a company. Only your items allow you to obtain a residence visa. This type of property is best purchased in locations where foreigners are permitted to own freehold property.The value of the purchased items must now be at least 1 million dirhams. If a unit is sold with the help of many purchasers, the cost of each buyer’s portion must be at least 1 million dirhams.

This legislation has undergone a significant change in 2019. If this used to apply to at least one asset with the provided minimal price, it is now applicable to the entire price of dwellings. Furthermore, obtaining a resident visa through the purchase of a company office or other commercial assets in Dubai is now possible – while shopping for such items, you may also obtain a residency visa within the UAE.It is necessary to complete the creation of belongings. Units that are still under construction, regardless of their final price after construction, do not grant the right to get a resident visa until the construction is done.The visa that is obtained based on possession of personal belongings is valid for two years with the option of extension.

What documents are needed?

To obtain this type of visa, you will need the following documents.

• Deed of Title
• Purchase and sell agreement
• Passport photocopy of the owner’s belongings
• Reproduction of current visas (traveler or visit)
• Photograph (passport size)

This kind of visa necessitates the purchase of personal property in the UAE. If such an acquisition fits your needs, it’s a great option. If you do not intend to buy anything, the most advantageous option is to apply for a resident visa in Dubai through company registration. The duration of a belongings visa is two years; however, it is extended to three years by freed sector agency registration. A property visa does not grant the right to work in the UAE, however, a visa obtained through an agency does. Due to its tax-free status, a company that is registered to receive a resident visa can also be utilized for business.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.