Buying a property and establishing strong ties in Dubai will qualify you for a residence visa. This article details the process of acquiring residence visa through property purchase, duration of residence visa, required documents and more.
Applying for residence visa in Dubai is a dream come true for many expatriates. It can also be a costly exercise, particularly if you attempt to do so on your own without the services of an expert. Here are the main expenses you should be prepared for when buying residence visa in Dubai.
As a recent migrant to the UAE, you will discover that having a residence visa is essential in obtaining additional permits necessary for life in Dubai and the UAE. Obtaining a residence visa in Dubai can be done through investing a certain amount into an approved real estate project or through contracting with an employer in the UAE.
Buying Residence Visa In Dubai
Dubai is one of the most remarkable destinations in United Arab Emirates that attracts the peoples from all over the world. The city holds the entire world record for being richer and well known due to its marvelous economic conditions. Many companies and multinationals choose this region as their base because they get numerous specialized services.
Employment Visa
When starting to work for a company in Dubai, expatriates must be sponsored by the hiring company who is legally required to apply for the respective employee’s entry visa and work permit, in addition to sponsoring their residency. The residence permit would be valid for either one or two years depending on the employment contract.
Employer-sponsored expats may also sponsor their immediate family members, subject to conditions which include minimum salary of AED 4,000 or AED 3,000 plus accommodation.
For more information on obtaining residency through employment, please read here.
Real Estate Visa
Purchasing real estate in Dubai may grant the buyer a residence permit. According to the UAE investor visa program, the property must be completed upon the purchase and its value must be of at least AED 1 million. Holders of residence visas through real estate purchase may also sponsor their dependents.
For more information on obtaining residency through employment, please read here.
Investor Visa
Foreigners who start a business or invest in an existing company in Dubai’s mainland or the free zones are eligible for a residence visa.
This visa is granted to investors who own shares in an existing company worth at least AED 72,000, or are establishing a company with a capital investment worth the same amount.
The investor visa falls under the Golden Visa scheme which grants investors a long-term visa for themselves and their dependents, subject to additional conditions related to investment size and capital.
For more information on obtaining residency through starting a business, please read here.
Remote Work Visa
The remote work visa is eligible for employees who are based outside the UAE and wish to relocate to Dubai. The one-year renewable visa falls under the virtual working program that is tailored for people, start-ups and entrepreneurs who meet specific eligibility criteria.
If you are an employee, you need to:
- provide proof of employment with a contract valid for one year from your current employer
- earn a salary of minimum USD 5,000 per month
- provide a salary slip for the last month and bank statements for the preceding three months.
If you are a company owner, you need to:
- provide proof of ownership of company for one year or more
- have an average monthly income of at least USD 5,000 per month
- provide bank statements of the company’s account for the preceding three months.