The property sector of UAE is famous for its high prices. But it does not stop thousands of tourists to think about buying a property in this country. The government is constantly introducing new policies to attract foreigners flush with cash. Thus, providing them with confidence and keeping the economy at a stable level.
New Сonditions for Investors
This year Dubai launched a new visa helping investors from all over the world reside for 5 years in the UAE. Those who hold €1,200,000 (Dh5m) in property can apply now.
According to the previous rules, investors applied for a 3 years visa issued by the UAE Land Department. And the Cube center required to hold €240,000 (Dh1m) property only. As of now, the fast-growing city facilitates the process of receiving an investor visa.
All You Need to Know
The latest initiative was long-hoping for since property owners claimed 3 years visa is not enough. Today, they can apply for a 5 years investment visa. Besides, it serves as a valid reason for obtaining a residency in the UAE. But it is necessary to invest minimum €1,200,000 (Dh5m) in the property sector. Its renewal happens every time the previous visa expires.
But only if the investor still holds the amount needed for such operation. One more advantage is that this permit allows investors to open a visa for relatives. So, there will be no need to leave the country for a long time. They can enjoy the high standards of living in the most luxury city in the world.
The investors who want to hire staff should turn to Tadbeer. They can contact the centers to learn about the hiring of the maid and driver workers. Otherwise, they need to go to Human Resources and Emiratisation centers of UAE.
How Much Does it Cost?
The visa approval is ready in 1 day if the applicant meets the requirements, and can easily prove his income. Also, he needs to pay the €624 (Dh2,600) application fee. Keep in mind, that only real estate deprived of mortgage is eligible for application.
Besides, the investor of a new visa can either visit the country or leave it how many time is convenient for him. If he wants to sell any of his real estates during the effect of the visa, it will be automatically canceled. Unless an investor can replace it with another eligible property.