How can I become a resident of Dubai through investment?
There are several options available to you if you wish to become a resident in Dubai:
- To be sponsored by a local person
- Obtaining a work visa
- Investing in property in Dubai
Since 23 September 2021, the investor visa scheme has changed. Prior to that date, for a minimum investment of 1 million dirhams, investors were eligible for a renewable 3-year residence visa. Now, with an investment of 750,000 dirhams – approximately €175,000 – you can become a resident of Dubai and be eligible for a three-year renewable visa. If you invest more than 5 million dirhams, your visa will be valid for a period of 5 years and will be renewable.
The Dubai Land Department enables property investors to become residents of Dubai, subject to certain conditions: they must own a property worth at least 750,000 dirhams.
Who is it for:
- The investor
- His wife/husband
- Children
Would you like to invest in the best property developments and become a resident of Dubai? Contact our estate agency, a DRN agent will advise and guide you in the best possible way.
Procedure for becoming a resident in Dubai
Dubai, as an international business centre and a hub for innovation, attracts many professionals from around the world. If you are considering moving to Dubai permanently, here is an overview of the procedure for obtaining a resident visa.
1. Obtaining a sponsorship: To obtain a resident visa in Dubai, you generally need to be sponsored. This sponsorship may come from an employer if you have an employment contract, from a family member who is already a resident, or you may also obtain your own visa if you wish to set up a business in one of Dubai’s many business parks or free zones.
2. Visa application: Once you have secured a sponsor, your sponsor (who is usually your employer or a family member) will need to apply for a resident visa on your behalf. It is important to note that your passport must be valid for at least six months at the time of application.
3. Medical examination: All new residents in Dubai must undergo a medical examination, which includes a blood test and a chest X-ray. These tests are designed to detect diseases such as HIV, tuberculosis and hepatitis. If any of these conditions are detected, the individual may be deported.
4. Issuing the visa: Once the medical examination has been passed and all the administrative formalities have been completed, the residence visa will be affixed to the passport. This generally entitles the holder to reside in Dubai for a period of 2 to 3 years, after which the visa must be renewed.
5. Emirates ID: Finally, all residents of Dubai are required to obtain an Emirates ID, which is a biometric identity card issued by the Federal Authority for Identity and Citizenship. This card is required to access various government and non-government services in the UAE.
It is important to note that, whilst this is the general procedure for obtaining a residence visa in Dubai, the specific requirements may vary depending on factors such as your nationality, your employment status and other factors. It is always advisable to consult the relevant authorities or a legal adviser to obtain accurate and up-to-date information.
Documents to prepare for the residency:
For investors:
1. The minimum value of the property is 750,000 AED.
2. If the property is mortgaged, 50 % of the property’s value or at least 750,000 AED must be paid to the bank. A letter of consent in Arabic and a bank statement showing the mortgage will be required to process the visa application.
3. A husband and wife may jointly own the same property, provided that the value of the property is 750,000 AED or more. (A certified marriage certificate is required).
4. A power of attorney is required if the application is submitted on behalf of the investor
For the family:
1. Letter of consent from the investor, certified by a notary
2. A woman over the age of 18 – a certificate of single status
3. Bring a national identity document
4. Original passport and Emirati identity card
5. Personal photo
6. Health insurance
7. Certified marriage certificate
8. Certified birth certificate
9. IBAN bank account
10. Son aged over 18 – school leaving certificate
The costs involved in obtaining residency
3-year investor visa:
Total: 14,967 AED – approximately €3,500
3-year family visa
– Wife: 7,061.25 AED – approximately €1,645
– Girls aged 18 and over: 7,061.25 AED – approximately 1,645€
– Children under 18: 6,361.25 AED – approximately 1,470€
– Sons aged over 18 (5,821.25 AED) – approximately €1,355, for one year only
– Husband (5,821.25 AED) – approximately €1,355, for one year only
