Dubai’s allure as a cosmopolitan hub has captivated many, prompting them to invest in the city’s real estate market. Beyond the prospect of owning a piece of this vibrant metropolis, property investors now have the opportunity to gain a two-year residency visa, making Dubai a compelling choice for those seeking a secure and welcoming home. In this feature, we delve into the details of the Property Investor Visa, the eligibility criteria, application process, and the benefits it offers to investors and their families.
The Path to Residency: Eligibility Criteria
The Property Investor Visa offers a pathway to residency for those who own property in Dubai worth a minimum of Dh750,000. Couples who jointly own property of the same value are also eligible to apply. However, certain conditions apply, such as presenting a No Objection Certificate (NOC) from the bank or developer if the property is mortgaged, as well as the property mortgage statement.
Additionally, applicants must ensure their property is not under construction. If the property is completed, they need to provide proof of payment for at least 50% of the property’s total value, amounting to at least Dh375,000. For couples with joint ownership, equality in property shares is crucial, as the primary visa holder will be the one with the higher share.
Documentary Requirements: The Essential Checklist
To initiate the application process for the Property Investor Visa, applicants must gather the following documents:
- Title Deed: A title deed issued for the property in Dubai, stating a value of at least Dh750,000.
- Mortgage Details: If the property is mortgaged, applicants must provide a copy of the initial sale certificate and an NOC from the bank.
- Marriage Certificate: For spouses with joint ownership, a legally translated and attested marriage certificate is mandatory.
- Passport and Visa Details: Copies of the applicant’s passport, with a validity of more than six months, along with a copy of the current UAE visa (residence, tourist, or visa-on-arrival).
- Emirates ID: A copy of the Emirates ID for current residents.
- Health Insurance: Proof of valid health insurance coverage from a UAE company, a mandatory requirement for all resident permit applications.
- Police Clearance Certificate (PCC): A PCC from Dubai Police, addressed to DLD, is essential for the application.
Online Application: A Smooth Journey to Residency
The application process for the Property Investor Visa can be conveniently completed online through the DLD website, specifically the DLD Cube Center. Here’s a step-by-step guide to the process:
- Visit dldcube.com and select the ‘Property Investor Visa for 2 Years’ category under ‘Our Services.’
- Complete the application form with personal details, passport information, and contact information.
- Upload the required documents, ensuring accurate representation of the property value and mortgage status.
- Submit the request and confirm the application using the One-Time Password (OTP) received on the registered mobile number.
- The application will be verified by DLD Cube, and upon approval, applicants will be notified to visit the DLD Cube reception to pay for the investor visa.
Benefits and Processing Time
Successful applicants can expect their Property Investor Visas to be processed within seven to ten days. This visa not only allows individuals to reside in Dubai without a sponsor but also extends the privilege to bring their families along. The residency permit and Emirates ID are subject to medical fitness tests and fingerprint scanning.
The Property Investor Visa is a gateway to a world of possibilities in Dubai, providing a sense of belonging to this dynamic city. As investors find themselves at home in Dubai’s diverse landscape, the allure of the city’s vibrant culture and limitless opportunities grows stronger. With this pathway to residency, Dubai beckons those who seek a prosperous future in a city that embraces innovation, growth, and global harmony.
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