Whether you are an investor looking to buy property based on where you want to live, reside and educate your children or change your lifestyle, Resident permit, Resident Visas for Dubai can guide you.
The difference between residence permit and residence visa?
Residence permit and visa for property owners grants temporary residency to qualified investors and their dependents on the basis of property ownership. The principal difference between the two is that the residence permit for property owners is renewable every two years for properties purchased in Dubai, while the multi-entry residence visa for property owners is renewable every six months and valid for properties in any emirate.
Mandatory minimum investment threshold
To be eligible for either the residence permit or visa, properties must be valued at more than Dh1 million. Approx GBP 211,139
The investment property must be in a freehold area and entirely owned by the investor, with the title deed issued in the name of the applicant. Lease-to-own deeds are not accepted. Additionally, the property must be ready for the investor to move in and its size must be proportionate to the number of family members occupying it (if applicable).
If the property is owned by more than one investor, the shared value must be more than Dh1 million, or a legalised marriage certificate has to be provided if the investors are married. Verification of the investment requirement is undertaken at the Dubai Land Department for the residence permit and the relevant immigration authority for the residence visa.
Furthermore, there is a minimum monthly income requirement of Dh10,000 Approx GBP £2,111 or equivalent in a foreign currency. The investor’s income source maybe derived from inside or outside of the UAE.
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