Can someone with a property visa work in Dubai?

Do you have doubt about Can someone Get a Property Visa in Dubai? The investor is still qualified to apply for a visa even if the investment is in multiple properties. With a combined value of AED 1 million. An investor visa or Property Visa in Dubai however, does not grant the investor permission or the right to work anywhere in the United Arab Emirates.

Freehold Property Visa in Dubai

The UAE will allow people to apply for a resident visa if they have purchased a home for at least Dh1 million.
such a property has been completed and handed over to its owner by the developer. Such a visa is valid for two years.

Five-year residence visa will be given to owners of UAE real estate worth at least Dh5 million as long as ownership is not based on loans.

Renewable 10-year visas will be provided to foreigners with investments in the UAE of at least Dh10 million, if non-real estate assets account for at least 60 per cent of the total. Investors can bring spouses and children into the country.

The amount invested shall be wholly owned by the investor and not loaned, and should be proven by supporting documents. There should be an investment retention for at least three years.

The long-term visa could also be extended to include business partners, provided that each partner contributes Dh10 million, the spouse and the children, as well as one executive director and one advisor.

The rule allows investors to enter the country for a six-month period, multiple entry, to apply for the long-term visa requirements.

Steps

The property owner initially has to approach the Dubai Land Department along with original passport, original title deed, NOC from the developer and copy of current visa page (if any).

Based on the letter issued by the Dubai Land Department, you need to thereafter approach the Dubai Police for issuance of certificate of good conduct

and later to the Dubai Economic Department along with the relevant documents and apply for an investor licence.

Once the investor license is issued by the Dubai Economic Department, you can approach the GDRFA to apply for residence visa in the UAE with aforesaid documents.

+ Once you obtain your residence visa, you are entitled to apply for residence visa for your family under your sponsorship in the UAE.

Two year Multiple-entry Visa will be issued for expatriate property owners, who meet the eligibility criteria.

+ This Visa can be renewed, but the investor must remain out of the UAE for at least one month.

Dependents’ Visa:  Property visa holder can sponsor his dependents on residence visa.

+ The maximum permitted stay at once is six months.

+ The investors will need to meet a set of requirements:

Property Worth: The property should be worth at least Dh1 million.

+ It should be ready for the investor to move in.

Monthly income: It should be wholly owned by the investor and the investor must have a monthly income no less than Dh10,000 or equivalent in foreign currencies.

+ The apartment or villa must be comfortable to accommodate the family of the investor.

+ The investor is required to obtain the title of the property from the registration authority in the respective emirate, before he could be granted the visa.

How to apply: You should approach Land Department with all the supporting documents.

Documents Required:

+ Title Deed of the property
+ Police Clearance Certificate
+ Passport copy & Photo

What is the difference between the residence permit and the residence visa?

The residence permit and visa for property owners grants temporary residency to qualified investors and their dependents on the basis of property ownership. The primary distinction between the two is that while the multi-entry residence visa for property owners is valid for properties in any emirate and is renewable every six months, the residence permit for property owners is only renewable every two years for properties purchased in Dubai.

Mandatory minimum investment threshold

Properties must be worth more than Dh1 million in order to qualify for either the visa or the resident permit. For residency permits, mortgages are allowed, but if the property is mortgaged, at least 50% of the original cost of the property must be reimbursed, or Dh1 million must be paid off if the property is valued more than Dh2 million.

Investment criteria

The investment property must be wholly owned by the investor, located in a freehold neighborhood. with a title deed issued in the applicant’s name. We do not accept lease-to-own deeds.The house must also meet additional conditions. It  includes being ready for the investor to move in and having enough space for the amount of family members.. If more than one investor owns the property, the combined worth must exceed Dh1 million, or if the investors are married, a legalized marriage certificate must be presented. The Dubai Land Department verifies the investment required for resident permits, and the applicable immigration authority verifies it for residence visas. Additionally, a minimum monthly income criterion of Dh10,000 or an equivalent is in place. Furthermore, A minimum monthly income of Dh10,000 or its equivalent in another currency is additionally required. The income source for the investor may originate from within or outside of the UAE.

Documents required

.> The standard documentation required to obtain either the residence permit or visa.

> Copies of passports

> Current visas

> Passport photos

> Police clearance certificates

> Title deeds

> Legalised marriage certificates

> Attested bank statements

> Proof of health insurance for applicants

> Dewa bill.

Important factors to take into account include the following:

+ Spouses and dependents are subject to fulfilling the dependents� sponsorship criteria.

+ Sponsorship of domestic workers is allowable under the residence permit. However, under the residence visa, sponsorship of domestic workers is subject to approval from the relevant immigration authority.

+ In-country medical examination is required for investors applying for the residence permit.

+ Neither the residence permit nor the residence visa status leads to citizenship.

+ Holders of the residence permit or the residence visa are prohibited from working.

+ There is no maximum period of stay for both the residence permit and the residence visa. However, residence permit holders should not stay outside of the UAE for more than six consecutive months.

+ The Department of Economic Development issues an investor�s license for every permit granted. The license is valid for four years and renewable thereafter.

If you have any doubt related to Property Visa in Dubai, contact us now