How To Get Dubai Residence Visa On Buying Property Of AED 750000 In Value

The Dubai Land Department (DLD) has announced that Dubai residence visas will now be issued to those who buy property worth AED 750000 or more. This is a great initiative as it bolsters the Dubai real estate market and allows citizens of other countries to live in this beautiful city. If you are looking for guidance on how to get a visa, then keep reading!

Dubai Residence Visa

Possession of a Dubai Residence Visa normally means that the person is a stable source of income and can afford to live comfortably. It also indicates that he or she has sufficient social status respected enough to be considered for an immigration visa and can support themselves financially during their stay within the United Arab Emirates.

The buyer of a property with starting price above AED 750000 or the equivalent must have a visa from their country that allows them to stay for three years. The residence visa can be used as an alternative by any person who has been issued a visit visa and wishes to extend their stay for two years. This visa can be renewed every three years as long as the person continues to purchase property under AED 750000 or more.

People who possess a residence visa can bring their spouse and children along with them, providing they meet certain conditions. If there are any single people in this category, they will have to prove that they intend to eventually get married.

The Dubai Residence Visa is a great way for people to move into the UAE and enjoy all that it has to offer without worrying about any visa issues or breaches of immigration law, as long as they meet the necessary conditions. The residence visa allows them not only legal entry but also plenty of benefits such as medical care and schooling for their children.

General Requirements for an Application

– Applicant must have a valid residence visa for the UAE.

– Must own an apartment worth at least AED 750000 or more to be able to apply for this visa type.

– If you are applying through your spouse, then their income should exceed AED 5000 per month.

– Applicant must have been a resident of the UAE for at least two years before being able to apply for this visa type.

Note: This list is not exhaustive; check with immigration if you are unsure about anything!

Procedure to Apply for a Residence Visa on Buying Property of AED 750000

There are various expatriates who move to the UAE and look for a home or stay at their friend’s place. If you want to buy property in Dubai, then it is important that you should know how can apply for a residence visa on buying property of AED 750000. The immigration rules here have become stricter after emigration laws were toughened in the UAE. Along with that, a new law has been passed to regulate the foreign workforce working on a project of AED 750000.

Procedure to Apply for a Residence Visa:

Make sure you have an appointment at your chosen bank, where you will be applying for a residence visa on buy property of AED 750000. You can book your appointment with the branch by visiting their website or directly going to the bank and speaking to one of their representatives.

You should know that before submitting your application, all members included in the family income must deposit an amount equal to the taxes payable for one year.

After that, an applicant can visit the branch with his or her residence visa on buying property of AED 750000, along with all members legally residing in UAE and their family income proof to receive a letter from the bank stating that they have deposited taxes equal to one year’s worth of taxes. On receiving this letter, they will be able to apply for their residence visa on buying property of AED 750000.

Documents Required for an Application

A copy of the applicant’s passport and residence visa

  • Passport: At least 60 days before the expiry date. If it is less than 30 days, you will need to provide an old expired passport in order for us not to lose time verifying its authenticity.
  • Applicants under the age of 18: Original birth certificate or adoption decree is required. The child cannot be travelling without both parents.

If they are applying for a residence visa and do not currently hold one (for example, if their previous residence visa has expired and they have yet to re-apply for a new one), then the applicants will need to provide their previous residence visas.

  • If their previous residence visa has been canceled, then they will need to provide the original letter from immigration stating that it is being canceled.
  • It’s important to note that if a child isn’t traveling with both parents, only one parent needs to sign on the application form while the other signs in front of an attesting witness at home.
  • If the child is traveling on their own, they will need to present a letter of authorization from both parents.

A copy of the title deed and its translated version if it’s not in Arabic or English. A legal translation needs to be done by an accredited translator (for example, at Arab Translators). The original document must be presented as well as the translation.

  • If it’s joint ownership, all owners must sign on both documents, and they should be accompanied by their residence visas or passports to verify who is signing.

A copy of the applicant’s marriage certificate if he/she has children with him/her (see below for more details):

  • The child’s birth certificate.
  • If the child is already living in Dubai, their residency visa will also need to be presented.

A copy of the applicant’s UAE driving license if they have one or a letter from RTA confirming that they don’t have one (see below for more details). An applicant has an option between providing this document and presenting a bank statement to prove they have cash in their account.

If the applicant chooses not to provide this document, they will need to present documents proving that they can support themselves for at least two years (for example, UAE work visa or residency permit and Emirates ID).

  • The letter from RTA should be obtained directly by them. A letter from the traffic department of their home country is not accepted.
  • If they have an international driving license, it must be translated and legalized by a UAE embassy (see below).

Fees and Charges Involved in the Process

  • The visa application fee: UAE Dirhams (AED) 400.00 per person
  • Fee for the residence permit at the immigration department: AED 300
  • Dhiram Al Hameli law firm service charge as our legal consultants and representatives in processing the visa application: AED 5000
  • The government service charge for the final approval of your residence permit at Al Muraqqabat police station in Dubai. This is payable only if the visa application is approved. The service charge for final approval at Al Muraqqabat police station Dubai: AED 500
  • Legal consultant’s fees charged by our law firm Dhiram Al Hameli to process the NOC from Ministry of Labour and Social Affairs (MOLSA): AED 2000
  • Legal Fees Charged by our Law firm to process Visa Run Permit: AED 2000.00
  • Fees Charged by our Law firm to process the NOC from MOLSA: AED 2000.00

The Benefits of Having a Dubai Residency Visa

The benefits are listed below:

– Having a Dubai residency visa allows the buyers to buy property in freehold zones, which is not possible otherwise. This makes it easier for expats living abroad or who have recently moved into the country to get their much-needed residence permit here in UAE. With this visa, they will be able to confer residency visas for their family members as well.

– This is an ideal option if the buyers are looking forward to buying investment properties in Dubai since it will help them avoid all kinds of documentation nightmares that they might have to face otherwise. Having this type of visa also ensures ease with taxes and registration laws, which can otherwise become very hectic.

– The people who are looking forward to living here in Dubai on a long-term basis, this is the best option for them as well since it provides a residency visa valid up to ten years which makes it easy for expats to stay here permanently. They can also easily move their families along with them without any kind of hassles.

– This visa allows the people to stay in Dubai for up to three years, which is considered as a long-term residency permit here in UAE. It also offers them an opportunity of obtaining freehold visas once they have lived there continuously for at least five consecutive years. The residents who are looking forward to buying property on a leasehold basis cannot avail of this benefit.

– It is also possible for the people to get their work visas renewed with ease and without any hassle once they have obtained a residency visa of Dubai on purchasing real estate property in UAE. If they do not wish to renew their employment visa every year but instead want permanent job status, then it becomes much easier for them with a Dubai residency visa in hand.

– The Dubai residency visa is also much simpler and convenient to obtain when compared to other emirates in UAE, considering the fact that it does not require any kind of income proof or bank statement, which makes the process much more streamlined and easy. This type of property investment visa can be obtained within a few days of applying.

The time frame involved in applying for the Dubai residence visa on buying property of AED 750000 

When buying property in Dubai, the first thing that comes to mind is whether you are able to get a permanent residence visa through this. The answer is yes! You can actually apply for it if your total purchase of immovable properties amounts up to AED 750000. But what’s important here is not just getting the residency but keeping it. And to do that, you need to follow the rules and regulations of the Dubai government regarding the purchase and ownership of properties in this city-state.

It takes about nine months to one year from the date you file your papers and documents with the Immigration department before they can call you up and inform you that your residency permit is now ready to be picked up.

It’s important to note that this timing is only for the normal process without any issues or complications. But if your documents are incomplete, like if you haven’t submitted all the required papers and forms (like a bank statement), then it may take longer than nine months. You can also consider engaging a consultant service that will assist you in getting your visa faster because they have connections with people who work at the immigration department.

How Can We Help You

If you are considering buying a property in Dubai, be sure to ask us about the Dubai residence visa procedure. We can help guide you through what is required for obtaining this valuable document and will ensure that it doesn’t become an obstacle when purchasing your desired home. Be proactive with your assistance from Penny Realtors, so we can make everything go smoothly for you!

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