complete guide to freehold property visa in dubai
- Author- Ridhi
- Publish Date-
Dubai: home to hundreds of international companies and millions of international expatriates. It is the foreign flavor of the city that makes it special.
So why come to Dubai so many companies, investors, and entrepreneurs? A very important explanation is that it is a very lucrative place to invest with excellent returns on investment. In this article, we have discussed Freehold Property Visa in Dubai.
Investment in property in Dubai is very attractive for several reasons.
The number of buildings is abundant; the city offers unbelievable lifestyles and excellent rents for investors who want to live in their property. The Emirate has a well-established record that offers strong returns for investors. And Dubai also shows clear signs of recovery in the present pandemic situation.
About Freehold Property Visa in Dubai
The Government of Dubai has actively pursued its policies in order to draw foreign investment in the property and other industries. The offer of long-term residence visas for property-buying investors in Dubai is one of his latest initiatives for 2020.
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Eligibility for Buying Property in Dubai
The seven different emirates have different rules on ownership of property and foreign nationals. However, everybody in Dubai can buy an estate, provided that they have money. You don't have to live or work in the Emirate, and the age limit doesn't exist.
Only in designated areas for foreign investment will freehold properties be acquired. However, this is not exclusive since Dubai has a lot of freehold areas.
Thus, international investors could purchase property in Dubai city, Dubai Marina, or, among many other items, in one of the new international golf communities.
There are numerous different types of properties, including Damac Hills Villas, that would be attractive to investors from abroad. Another great reason to consider buying here is the latest real estate visa.
Types of Freehold Property Visa in Dubai
The government of the UAE proposed new categories of visas for investors, including buyers of UAE land, in early 2020.
10-year Residency Visa
Anyone who makes an investment of at least AED 10 million in the US is eligible for a 10-year residence visa. A maximum of 40 percent or AED 4 million of the investment can be invested in the immobilization sector. This can be divided into a cumulative value of AED 4 million in three assets. The remaining 60 percent must be invested in other industries.
5-year Residency Visa
An investor who purchases a property worth at least AED 5 million can receive this visa which can once again be divided into up to 3 properties. You don't need to make more savings, unlike your 10-year visa.
Conditions for Availing Visa
For people who want one of the two land visas, some requirements apply. First of all, you have to consent to continue the investment of your property for three years. You must also assert that you did not borrow money to shop.
These visas to live on a leasing property or for off-plan construction are currently not valid. However, both freehold and full properties are eligible, which means that Dubai offers plenty of investment options.
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Visa Application Process
If you complete your purchase and send your application to the Dubai Land department, you will only need to collect the right materials.
To check your identity and eligibility, you will need to include different documents in your application. Copies of your passport, existing UAE visas (where applicable), bank statements, and banknotes, plus title acts for your new UAE assets are included. A reference from the Dubai Police must also be given to certify good behavior.
You are also allowed to buy property in accordance with your partner; in this case, you must supply you with the related documents above with a copy of your marriage certificate.
Advantages of Freehold Property Visa in Dubai
The key advantages of all of the above visas are the rights of all UAE citizens. These comprise:
- Can spend as much time in Dubai as you want during the valid visa period and come and go.
- Links to bank and financial services accounts of the UAE.
- Can apply for a license from the UAE.
- Visa-free transfers to some countries are possible.
The above investment visas allow your spouse and dependents to be funded so they can also benefit from the same benefits. You will expand your sponsorship to include a managing director and a consultant, along with your family, if you succeed in securing a 10-year residency visa.
You can easily upgrade your five-year and 10-year visas and keep your investment.
So this is all you need to know about Freehold Property Visa in Dubai. For more information and to apply for a Dubai Visa, you can reach out to Dubai E Visa Online, and you will get answers to all your queries from their Customer Support team.