The real estate market in the UAE is ranked among the most profitable sectors globally. It attracts investors from across the globe because of the consistently high ROI, transparency, and a safe environment. The strong capital appreciation and high rental yields are some other factors that make it an investor-friendly nation.
Although there was a dip due to the COVID-19 pandemic, the UAE property market has now picked up its pace and is racing towards a strong recovery. Furthermore, Expo 2020 Dubai has played a key role in boosting the market. It has allowed first-time visitors to see the UAE property market up and close and understand the potential it has. Therefore, experts believe that 2022 will see a higher number of new investors in the UAE.
If you are also planning to invest in the UAE, it’s imperative to have an investor visa. There are two different types of real estate investor visas in the UAE. Let’s find out about everything about these visas here:
Types of Real Estate Investor Visa in the UAE
A 10-Year Investor Visa
As the name specifies, this real estate investor visa lasts for ten years, allowing the investor to earn returns using their money in any of the seven emirates of the UAE. As per the recent changes in the UAE visa laws, a foreign investor holding this visa does not need a local sponsor to invest in the country.
A real estate investor visa allows the investor to include an advisor and executive director other than immediate family (spouse and kids). Furthermore, it can be extended to business partners, provided each partner contributes a minimum of 10 million as an investment.
Foreign investors have the liberty to apply for a multiple-entry permit for a duration of six months.
The following investment types make an investor eligible to get a 10-year investor visa in the UAE:
- Forming a new company with a capital investment of AED 10 million.
- Entering a partnership contract in an existing organization with a share value of AED 10 million or higher.
- Cash deposits worth at least AED 10 million
To get real estate investor visas in UAE, applicants must meet the following conditions:
- Out of the total investment, 60 per cent must be invested in any other sector than the property market.
- It should be proved that the invested amount is not lent from someone.
- The investment should be retained for a minimum period of three years.
- The applicant must maintain the investment’s financial solvency for AED 10 million.
Apart from real estate investors, people with specialised talents and skills in the field of culture, science or arts can also apply for a long-term visa in the UAE.
A 5-Year Investor Visa
It is a five-year real estate investor visa that can be renewed once the term is over. Investors, after getting this visa, are free to invest in any emirate in the UAE.
- The applicant must have made a property investor worth at least AED 5 million.
- They must prove that the invested amount isn’t loaned.
- The investment should be retained by them for a minimum period of three years.
Entrepreneurs can also apply for a 5-year visa in the UAE. However, they have to fulfil different eligibility criteria to get a visa.
Things to Know When Getting a Real Estate Investor Visa
These are some important things you must know when applying for a real estate investor visa in the UAE:
- According to recent changes in the immigration laws, investors can now become UAE citizens.
- For a person to get a real estate investor visa, it’s not mandatory for them to invest in a single property valuing AED 10 million. They can invest in up to three properties. The only condition is that the total value of the property must be higher than the threshold limit.
- An individual can get a real estate investor visa even if they have invested in a mortgaged property. However, they must have paid off the mortgage worth AED 10 million.
- If both the husband and wife are joint partners of a company and they want to apply for a real estate investor visa, they must provide an attested marriage certificate as proof, apart from other necessary documents.
- It is important to note that different emirates have different rules pertaining to the real estate investor visa. So, you must do your due diligence and find out the basic requirements and conditions of a specific emirate where you intend to make an investment.
To sum it up, the availability of a long-term real estate investor visa is surely a step taken in the right direction as foreign investors will feel safer and confident when investing in the UAE. Furthermore, many expatriate and investor-friendly policies are being implemented by the government, which makes it the right time to invest in the UAE property market.
So, begin your hunt for properties for sale at Zoom Property now to make an investment in the UAE if you haven’t already and start building your case for a long-term real estate visa.