Dubai, UAE - Dubai is a land of opportunities for so many people from around the world - including investors. The city-state is also well known for its incredible lifestyle and excellent real estate returns, attracting hundreds of investors every year. With premier residential properties now available for comparatively affordable prices in the post-pandemic market, it is safe to say that it is an excellent time for investors to buy properties for their use or to lease out for some additional financial treat.

To make things easier, the Dubai Government is offering various long-term property visas for property investors, making the prospect of living in or investing in the emirate highly appealing.

“The current rules welcome any non-resident to buy a property in Dubai, provided they have the financial capability. With residential properties now available for competitive prices, you can now purchase any freehold designated areas by investing AED 7,50,000 or above, and become eligible for a property visa in the UAE.” Nadir Shah, Sales Manager, and spokesperson for Vanguard Real Estate Agency in Dubai.

Investors in a jointly owned property are also eligible to apply if each investor has an investment share worth AED 7,50,000 or more. In case the property is jointly owned by husband and wife, both can apply for a UAE property visa even if the property’s total purchase value of AED 7,50,000 is divided between both of them, by presenting an attested marriage certificate during the application. However, the investment must be made on a freehold residential/commercial property and not an off-plan property to be eligible for the property visa.

“Dubai issues three kinds of visas to individual property investors. A three-year visa is available to individuals who have purchased a single residential property of AED 7,50,000 or more, while the five-year visa requires ownership of a single property or up to 3 properties worth at least AED 5 million,” continues Mr. Shah. ”The visa can be maintained as long as the investor owns the property in the country. However, these are residency visas, which means that you cannot work under them.”

Investors looking to invest in properties must ensure that the property/properties are 100% ready and are not subject to disputes. Additionally, the purchase value of the property (not market value) must be at least AED 7,50,000, with at least a 50% mortgage paid off to be mentioned as the owner of the property. The Dubai property visa is now issued against residential properties purchased in a freehold region including apartments, serviced apartments, villas, and townhouses, and/or commercial properties such as hotel rooms, hotel apartments, office spaces, and warehouses.

A six-month multiple entry property visa is also issued to investors, which costs less and can be obtained quickly. In this case, the six-month visa is similar to a tourist visa, where an Emirates ID is not issued to the investor.

Property investors can now enjoy Dubai residency with these visas. Prospective buyers are welcome to contact Vanguard Real Estate Agency in Dubai today.