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UAE

Dubai, a major trading hub in the UAE, has attracted major high net worth business and real estate investors over the years. If the government's eligibility criteria are met, you can get residency through the UAE investor visa program.

There are currently two options open to property investors who would like to live or stay in Dubai. The two types of visas currently available to property investors in Dubai are:

1. The Property Investor Visa

2. The Six Months Residency Visa

The Property Investor Visa

This is a two-year renewable visa that is issued by the Dubai Land Department. This visa enables you to become a UAE resident, obtain an Emirates ID, and UAE driving license. You can also sponsor family to join you as well. One key restriction is that this visa is only available for Dubai property investments.

The Six Months Residency Visa

This option is a standard visa, which in many ways is closer to a visitor visa than a residence visa. It is issued by the relevant immigration authority. It can be renewed for as long as you meet their requirements. With this visa, you are granted multi-entry access to the UAE, and is available to those who purchase property in any of the seven Emirates, not just Dubai.

Requirements:

Property

The property you invest in must meet certain requirements in order for you to qualify for either of these visas:

1. The property must be valued at Dh1 million or more. This valuation is based on the purchase price listed on the title deed, not the current value of the property when you apply for the visa.

2. For joint property ownership, such as owning the property with your spouse, the shared value of your property must exceed Dh1 million.

3. The Dh1 million valuation can only apply to one title deed – you cannot consolidate all your investments to meet this valuation requirement on your visa application.

4. You will need to provide the title deed (in the name of the applicant) with your visa application, therefore only completed properties qualify. Properties bought off-plan cannot be used to apply for a visa.

5. The property you invest in must be freehold and must be a residential property in a "habitable" condition, i.e. it must be suitable to be lived in and maintained in a good condition. Commercial property investments do not qualify for these visas.

Minimum Income

Both visas have a minimum income requirement of Dh10,000 per month (or equivalent currency). This can be earned either inside or outside the UAE. You will need to provide proof of income as part of your application.

Things to Be Aware Of:

1. Citizenship: Neither visa option will enable you to obtain citizenship to the UAE

2. Health: You will be required to undergo an in-country medical examination

3. Employment: The visas are purely for residency purposes only, you will not be permitted to undertake employment with either option

4. Length of Stay: Whilst there is no maximum term for either visa (providing you continue to renew them at the end of each visa's term), if you are granted the Property Investor Visa, you must not spend more than six consecutive months outside of Dubai, otherwise your visa will be automatically cancelled.

Benefits

1. The right to live anywhere in the UAE

2. Political stability and security

3. High rental yields

4. No restriction on repatriation of funds

5. Investor protection (Dubai's RERA)

6. No personal income tax

7. No corporation tax

8. No property or capital gain tax

So, which visa should you get?

Both options have their pros and cons, so it really depends on your individual circumstances and what you are looking for from both a property investment and a visa.

If you are investing in Dubai specifically, have a larger budget and want more flexibility from your visa, then the Property Investor Visa may well be for you.

However, if you are looking for a cheaper option and can work with the restrictions involved, the Six Month Residency Visa might suit you better.