How to obtain a UAE resident visa for buying an apartment
Dubai's visa policy does not stand still and is modernized every year. All innovations are needed to further simplify the procedure for issuing residence permits to expats. And also to attract a new stream of investors to the UAE. We tell you what a resident visa is, how to get one and what advantages it offers.
What is a resident visa
Resident visa, Emirates ID, residence permit - in fact, these three phrases mean the same thing. However, the official term in Dubai is resident visa. The concept of "residence permit" simply does not exist in UAE law. Getting a resident visa is an important goal for many clients. The good news is that it is not difficult at all to become a holder of such a document in Dubai.
What are the advantages of a resident visa
With a resident visa, you can live in Dubai with no time limit, not 90 days like a regular tourist. You can also travel between countries without having to worry about deadlines.
Having obtained a resident visa, you can easily become a client of any local bank. This is very convenient, because without a residence permit the procedure of opening an account will take several times more time and effort to collect additional documents.
You will be able to open a company with zero taxation in one of the free economic zones.
You will be able to apply for a Schengen visa and a visa to the USA.
A resident visa allows you to get a driver's license. In Dubai it is difficult to do without personal transportation, and getting behind the wheel without a local license is strictly prohibited. The scheme of obtaining a driver's license here is classic and familiar: you need to pass theory, practice and pass a medical commission. Another bonus is that local licenses are recognized in fifty countries.
If you plan to move to Dubai with a family, then for your children the opportunity to start studying in public or private schools opens up.
With a visa, you will also be able to take out health insurance and freely use all innovative services.
How to get a residency visa
The easiest way is to buy real estate worth $205,000 or more, thereby obtaining a residence permit for 2 years. For this purpose is suitable for both primary and secondary housing. Resident visa can be extended an unlimited number of times, but only if the property remains in your possession.
In order to get a resident visa for 10 years, you need to buy a home worth $550,000 or more.
An important factor for obtaining a visa: the purchased property must be rented and ready for use.
How to get a resident visa when buying real estate in the mortgage
Many people think that in order to get a resident visa in the UAE, it is necessary to pay for the property in full. However, it is possible to purchase a home with a mortgage to open a resident status. True, with a few minor nuances.
- The bank where you plan to take out a mortgage must be approved by the government authorities.
- By the time you want to apply for a visa, you must pay at least fifty percent of the mortgage.
- This amount must not be less than $205,000.
Once you fulfill these conditions, you can apply for a two-year resident visa. However, remember that each emirate has its own nuances and conditions. Therefore, it is better to contact specialists for additional advice.
Unfortunately, in order to get a ten-year resident visa, real estate will have to be bought with your own money. It is impossible to take a pledge in the bath for this purpose.
The main documents that are required to apply for a resident visa
- The most important documents are the certificate of ownership, as well as the certificate of title.
- No less necessary is the contract of sale and purchase.
- A copy of a valid passport.
- A receipt for payment of registration and administration fees.
- A letter from the DLD* confirming the value of the property.
- Application for a resident visa.
- Paid health insurance for two years.
- Certificates: results of medical examination, no criminal record.
- Photographs of a certain sample.
How long does it take to process a visa
A resident visa in Dubai does not need to wait for months. The production time takes about two to three weeks after submitting the documents.
How to apply for a resident visa for a family
Good news: if you bought a property in Dubai and issued yourself a resident visa, you can get the same for your family members. The government has different requirements for the property owner depending on who the sponsor is in the family. Therefore, we advise you to contact our experts for more accurate information.
A quick checklist for obtaining a visa
- Choose the type of visa and the amount you are willing to invest in real estate ($205,000 for a two-year visa, $550,000 for a 10-year visa).
- Buy and register the property.
- Gather the documents you will need to apply for the visa.
- Apply for a resident visa at the Dubai Land Department. Review usually takes up to twenty days.
- Undertake a medical check.
- Take a fingerprint.
As you can see, there is nothing scary and confusing in the process of obtaining a resident visa in Dubai. But the opportunities that this status opens up are incomparable to the effort and time spent to obtain a visa.
*DLD (Dubai Land Department) - Dubai Land Department.