DUBAI Real Estate Investments

 DUBAI Real Estate Investments

Government of United Arab Emirates, introduced a system in 2019, the purpose was for providing long term residence opportunity to people. It removes the dependency on the local sponsor, and the people can enjoy the 100% ownership here. The duration of this long-term residency VISA is 5-years or 10-years. People just need to hire the Emirati Law Firms e.g. Ask The Law – Al Shaiba Advocates and Legal Consultants, registered with Dubai Legal Affairs Department. There is no restriction on anybody buying the property in Dubai or anywhere in UAE. Even your presence is not required. If you are not local resident, living outside the Dubai or UAE then still you can invest and buy the property in Dubai. As per the Law, the value of the property at the time of buying must be more than 750, 000 AED. If the property is mortgaged then there is a certain limit. The limit is 50% of the total value that should be paid. The Dubai Real Estate or Property VISA can be issued on both types of properties e.g. Commercial and Residential properties. 

Please make sure that the property is 100% ready to be delivered. This is the requirement. You can either buy in cash or on the mortgaged plan. Property must be 50% mortgage paid. If a third party is appointed for all the procedures, then the Power of Attorney is submitted. It means this third party has to be provided with the POA by the real and original buyer or investor. Well, Lawyers in Dubai can help in preparing POA and also advise the necessary steps. All the documents are submitted to Dubai Land Department website online.  

Dubai Investor VISA

A)     Investor VISA 10 Years – Requirements:

Invest at least 10 million AED. It can be buying the property, investing in companies, or company formation with a value of 10 million. It can also be a joint investment which means it can be invested in Real Estate, and other sectors together but at least 60% of investment must be in the Non-Real Estate sector. This long-term VISA can sponsor a wife, children, one advisor and one executive advisor.   

B)     Investor VISA 5 Years – Requirements:  

The Real Estate Investor VISA is available in Dubai for the 5 years. Business investors who invest their money in Real Estate can take a 5-year VISA. The required documents are (1) Passport of the applicant (2) Title Deed Certificate – Electronic Copy (3) Phots of the applicant as per demand (4) Health Insurance (5) Emirates ID 

Real Estate Investor has to invest at least 2 million AED in Dubai in order to obtain 5-Years real estate residence visa. It can be one or more than one property. Husband and wife both can be the owner of this invested property or properties. 

C)      Retirement VISA Requirements:    

Followings are the retirement visa requirements:

∙       Minimum Age is 55 years.

∙       Fully paid property value is 1 million AED at least. It must be in the name of the applicant. He would have to put the same amount for at least 3 years in the Bank. Once the amount is kept then a letter by the bank is required proving that amount will not be or cannot be get released before 3 years.

∙       Like Investor VISA, husband and wife both can be owners of the property or properties. 

D)     Parents VISA

∙       Native Country National IDs are required. 

∙       Dependency Certificate, attested by Foreign Office or the Consulate.

∙       Pictures (Photos)

∙       Birth Certificates 

∙       Health Insurance Certificate    

E)      Requirement for Family VISA:

∙       No Objection Certificate is required to be issued by the father. It should also be attested in Notary Public, a local UAE based attestation institute. 

∙       Original Passports and Emirates IDS are required. 

∙       Health Insurance is required. Photos are required. Attested Birth Certificate. 

∙       Study Certificate is required for the son if he is greater than 18 years old. For the daughter unmarried, the document is required and for the married daughter, the marriage certificate is required. 

F) Advantages of Living in Dubai and the UAE

∙       A safe place for your family and friends. 

∙       A land rich in opportunities.

∙       Growing Economy 

∙       Peace, Safety and Stability 

∙       Good Business Place

∙       Opportunity to earn from Real Estate and Non-Real Estate Sector 

∙       Chance to multiply your investments

∙       Secure Investments 

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