If you wish to settle and purchase a property in the United Arab Emirates, you may apply for a Property Investor residence visa.
You must invest at least AED1,000,000 in real estate of a designated and approved area by the Government.
Once you have purchased the property you may apply for a residence visa. This visa will be valid for up to 2 years, renewable, as long as you still own the property and you visit the country at least once every 180 days. Absence for a longer period may lead to the visa's cancellation.
The visa will give you the right to live in any of the 7 Emirates; all government related matters need to be done in the state where your UAE residence visa is issued. Note that this visa does not entitle you to a work permit.
Once you have obtained the visa, you can sponsor your relatives, who may apply for a family visa tied to your residence visa. A man may not apply for a visa for his children, if it is not done together with his wife, unless the latter is deceased.
There is no permanent residence visa, which means that every two years you must renew the visa. This visa does not lead you to citizenship.
- Have a monthly income of at least AED10,000 or equivalent in foreign currency. - Have medical insurance. - Property must be of an appropriate size to house family members. - The property should be owned by you. - The property should be a flat/apartment or villa. - It should be in the free hold area (i.e. the area where foreigners are permitted to own properties). - The current value of the property should be a minimum of AED1 million. - The property should not be a lease to owner or a lease of 99 years; - If the property is mortgaged, at least 50% of the value of the property should have been paid. - The title deed should be issued by the Land Department.
No nationality is officially restricted
Dual citizenship is not recognized in United Arab Emirates. To become a citizen of United Arab Emirates, you must renounce your previous nationality.
Evidence of Health Insurance
Title Deeds or Proof of Registration of Real Estate
The United Arab Emirates (UAE) is a federation of the Middle East and member of the Gulf Cooperation Council (GCC) and OPEC. Located on the Arabian peninsula, it borders Oman to the southeast, the Persian Gulf to the north and Saudi Arabia to the west and south. Its territory is made up of seven Emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sarja and Umm al-Qaywayn. Each emirate has considerable political, judicial and economic autonomy.
The emirates are inhabited by 9 million people. The capital is Abu Dhabi, although the most populated and well-known city is Dubai, which is one of the most cosmopolitan cities in the world. Arab and English are the official languages. The official currency is the United Arab Emirates Dirham (AED).
Visa Free Travel
With your new passport from United Arab Emirates you'll be able to access 174 countries visa free
The United Arab Emirates does not levy personal income taxes and therefore there is no legal definition of tax residency. However, residents may be able to obtain a UAE Tax Residency certificate, subject to certain conditions.
There is a real property tax levied on the transfer of properties, at rates that vary from 2% to 4%, depending on the Emirate where the property is located. Some municipalities, e.g. Dubai, also levy an annual property tax on the assessed rental value of the property.
The V.A.T. rate, first introduced in 2018, stands at 5% on most goods and services.
Regarding corporate taxation, most economic activities are exempt from income tax, except companies engaging in oil and gas exploration and production, and companies providing financial services. Corporate foreign-ownership is restricted to 49%, except for companies incorporated in the Free Zones and offshore companies.
This should not be construed as tax advice. We have access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.
Our attorneys in UAE will guide you through each step of the process to ensure that it is as fast, efficient and pain-free as possible.
If required, we will provide you access to our network of developers and real estate agents in the UAE, in order to find the property that best suits your needs. We may introduce you to banks in order to open a bank account and transfer your funds.
Once you have purchased the property, we will prepare all the documentation required to apply for an Investor Residence visa. We will send you the application forms, and provide assistance to complete the questionnaires.
You will have to go to the UAE to undergo fingerprint procedures, carry out the medical check and submit your visa application together with your passport to the relevant immigration department.
The application should be processed in a maximum period of 3 days. After your application is approved, a 2-year renewable visa will be stamped in your passport. Then, you will have to apply for the ID Residence card.
After that, you may sponsor your dependents for a family visa. We can handle this procedure if required.
For further information on the UAE Property Investor Residence Visa, contact us for a free private consultation.