How to become a resident of Dubai by investing?
There are several ways to become a resident of Dubai:
- Be sponsored by a local person
- Employee visa
- Investing in real estate in Dubai
Since September 23, 2021, the investor visa has changed. Prior to this date, for a minimum investment of 1 million dirhams, investors can apply for a 3-year renewable resident visa. Now, for an investment of 750,000 dirhams – around €175,000 – become a resident of Dubai, and you’ll have access to a 3-year renewable visa. If your investment exceeds 5 million dirhams, your visa will be valid for a renewable period of 5 years.
- The investor
- Wife/husband
- Children
Would you like to invest in the best real estate projects and become a resident of Dubai? Contact our real estate agency, a DRN agent will advise and guide you in the best possible way.
How to become a resident of Dubai
Dubai, as an international commercial center and innovation hub, attracts professionals from all over the world. If you’re thinking of moving to Dubai permanently, here’s an overview of the procedure for obtaining a resident visa.
1. Obtaining sponsorship: To obtain a resident visa in Dubai, you generally need to be sponsored. This sponsorship can come from an employer if you have an employment contract, from a family member who is already a resident, or you can also get your own visa if you want to set up a business in one of Dubai’s many business parks or free zones.
2. Applying for a visa: Once you have obtained a sponsorship, your sponsor (who is usually your employer or a family member) will need to apply for a resident visa on your behalf. Please note that your passport must be valid for at least six months at the time of application.
3. Medical examination: All new residents to 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 one of these conditions is detected, the individual can be deported.
4. Issuing the visa: Once the medical examination has been passed and all administrative formalities completed, the resident’s visa will be affixed to the passport. This generally gives the holder the right to reside in Dubai for 2-3 years, after which the visa must be renewed.
5. Emirates ID: Finally, all Dubai residents 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 governmental and non-governmental services in the UAE.
It’s important to note that while this is the general procedure for obtaining a Dubai residency visa, specific requirements may vary depending on factors such as your nationality, employment status and other factors. It is always advisable to consult the relevant authorities or a legal advisor for accurate, up-to-date information.
Documents to be prepared for the residency :
For the investor :
1. The minimum value of the property is AED 750,000.
2. If the property is mortgaged, 50% of the property value or at least AED 750,000 must be paid to the bank. A letter of consent in Arabic and a bank statement of the mortgage will be required to proceed with the visa application.
3. Husband and wife can share the same property and the value of the property is AED 750,000 or more. (certified marriage certificate required).
4. A power of attorney is required if the application is submitted on behalf of the investor.
For the family :
1. Notarized letter of consent from the investor
2. Girl over 18 – single letter
3. Bring a national identity document
4. Original passport and UAE identity card
5. Personal photo
6. Health insurance
7. Certificate of marriage
8. Attested birth certificate
9. Bank account IBAN
10. Son over 18 years of age – school certificate
Residence fees
3-year investor visa :
Total: AED 14,967 – about €3,500
3-year family visa
– Wife 7,061.25 AED – about €1,645
– Girls over 18 years 7,061.25 AED – about €1,645
– Children under 18 6,361.25 AED – approx. €1,470
– Son over 18 ( 5,821.25 AED ) – about 1.355€, for one year only
– Husband ( 5,821.25 AED ) – about 1.355€, for one year only
