Obtaining a UAE Residence Visa Through Property Ownership in 2024

Investing in real estate in the UAE offers an excellent opportunity to secure a residence visa, with options for 2, 5, or 10-year validity periods, depending on the value of the property. Let’s explore the different types of investment visas available and their specific requirements.

UAE Golden Visa

The UAE’s prestigious Golden Visa is ideal for individuals with significant investment capabilities. It grants a 10-year residency without the requirement to stay in the UAE for six months each year. In addition, it allows you to sponsor your family members and personal staff and offers benefits such as priority access to top educational institutions for your children.

Key Requirements for the Golden Visa:

• Property Value: Minimum AED 2 million (approximately USD 550,000). You may combine up to three properties across different Emirates to meet this threshold, with each having its own Title Deed.

• Mortgaged Property: Acceptable if the loan amount is at least AED 2 million.

• Construction Status: Property must be at least 50% complete.

• Proof of Income: Applicants must demonstrate a stable and permanent source of income.

• Property Ownership: The visa is tied to property ownership. Selling the property leads to visa cancellation.

Golden Visa Costs:

• Property Registration Fee: 4% in Dubai, 2% in Abu Dhabi (shared between buyer and seller).

• Visa Fee: AED 2,707 per person.

• Emirates ID Fee: AED 1,153 per person.

• Health Insurance: Starting at AED 800 per person.

• Medical Examination: Starting at AED 700 per person.

Step-by-Step Process:

1. Eligibility Check: Preliminary passport evaluation (1 day).

2. Document Preparation & Initial Visa Application: (5–7 weeks).

3. Property Selection & Purchase: With assistance from brokers and legal advisors (5–6 weeks).

4. Title Deed Issuance: Or Oqood certificate if the property is under construction.

5. Medical Tests: Conducted at approved clinics (1–5 days).

6. Final Visa Processing & Biometric Data Collection: (Up to 30 days).

Upon approval, investors receive their Golden Visa electronically along with a physical Emirates ID. To renew the visa, property ownership worth at least AED 2 million must be maintained, along with completing a new medical exam and renewing health insurance.

Two-Year Investor Visa

If your investment doesn’t meet the Golden Visa threshold, you can still obtain residency through the Two-Year Investor Visa.

Requirements:

• Property Value: Minimum AED 750,000 (approximately USD 205,000).

• Mortgaged Property: Must provide a No Objection Certificate (NOC) from the bank/developer and a bank statement showing loan details.

• Joint Ownership: Both spouses must be listed as owners; if ownership is unequal, the main visa holder will be the one with a larger share.

Required Documents:

• Title Deed showing property ownership.

• Passport copy (valid for more than 6 months).

• Previous Emirates ID copy (if applicable).

• High-resolution personal photo.

• Valid UAE health insurance.

• Police clearance certificate from Dubai Police.

Five-Year Retirement Visa

For individuals aged 55 and older, the Five-Year Retirement Visa offers an excellent way to continue living in the UAE post-retirement, with the possibility of renewal.

Eligibility Criteria:

• Be at least 55 years old.

• Have at least 15 years of work experience (anywhere in the world).

• Meet one of the following financial conditions:

  • Own UAE real estate valued at a minimum of AED 1 million.

  • Hold a fixed deposit of AED 1 million in a UAE bank.

  • Demonstrate an annual income of at least AED 180,000, verified by a six-month bank statement.

Family members, including spouses and unmarried children, can also be sponsored under the Retirement Visa for a five-year residency.