Is it the right time for Property Purchase and Settling in UAE with your Family?
The Real Estate market in the UAE plays a vital role in the country’s economy and business landscape. With a multitude of upcoming projects and the delivery of completed apartments to their owners, the real estate segment is experiencing significant growth in the region. It is a dynamic industry offering diverse options for investors to realize their dream of owning a home in the UAE.
What makes UAE an ideal choice for settling down with your family?
There are numerous compelling reasons why investors opt to make the UAE their new home. Offering political stability, an enhanced lifestyle, favorable business conditions, investor-friendly laws, zero personal and income taxes, and an exceptionally low crime rate, the UAE provides an ideal environment for settling down with one’s family. Moreover, investing in property in the UAE presents a lucrative opportunity for global investors and professionals, as it grants eligibility for a UAE residence visa.
Expatriates are granted the opportunity to prolong their stay in the UAE, relishing the world-class amenities and abundant business prospects in the region. Moreover, the real estate and property ecosystem in the UAE boasts a refined sophistication, catering to a diverse range of buyers with offerings spanning from affordable to opulent homes.
Explore a vast array of properties available in the UAE, offering an extensive selection to suit every preference and requirement.
The introduction of affordable housing options in various freehold areas across the UAE, including Jumeirah Village Circle and International City, has been attracting middle-income expatriates and foreign investors. These individuals have the opportunity to acquire their dream homes at relatively lower rates compared to global real estate markets.
Moreover, Dubai offers a plethora of luxurious villa and apartment projects situated in prime locations such as Business Bay, Dubai Water Canal, Palm Jumeirah, and more. These projects provide investors with the chance to own exquisite homes with world-class quality, boasting stunning views of the sea and cityscapes.
The trend of tying a UAE residence visa to property ownership is gaining momentum.
The Residence Visas in the UAE, tied to property ownership, play a crucial role in the decision-making process for global investors looking to settle in the region. Investing in a property not only allows investors to experience the UAE lifestyle but also provides the opportunity for a long-term stay.
Property investment in the UAE is highly regarded as a lucrative business venture, with investors flocking to purchase properties for sustained returns over the years. This is the primary reason why investors are drawn to investing in UAE properties.
Property Visa in UAE – Attracting Foreign Investors
The residence visa, coupled with property purchases, serves as a major draw for foreign investors in the UAE. Prominent projects like Al Hamra Properties in Ras Al Khaimah offer 12-year visas tied to property acquisitions.
By partnering with the Ras Al Khaimah Economic Zone (RAKEZ), the property developer has streamlined the UAE residence visa application process. This initiative aims to attract entrepreneurs, freelancers, consultants, and senior citizens to reside and work in the UAE.
The Property Visa has unlocked new opportunities for investors seeking to live, work, or establish businesses in the region. Additionally, UAE developers are targeting white-collar professionals, freelancers, and the vast pool of employees in the local market.
Property Purchase in UAE and Long Term Residence Visa
The UAE has introduced long-term property visas, granting expats the opportunity to purchase property and secure their stay in the country. This initiative aims to attract and retain top talents, as well as support businesses and investors in achieving their long-term goals. The Golden Visa, available for 5 or 10 years, allows individuals to maintain their investments and continue operating their businesses in the UAE for an extended period.
5-Year and 10-Year Golden Visa
For expatriate investors in the UAE, acquiring a property valued above AED 5 million serves as the initial stride towards fulfilling the long-term aspiration of settling in the UAE with their family. In pursuit of the 10-year Golden Visa, the property purchase must encompass 40% of the overall investment, while the remaining 60% should be allocated to investment funds in the UAE, or directed towards contributing to the capital of a locally established company or participating in an existing or new venture.
Requirements for Long Term Residence Visa in the UAE
For both 5-year and 10-year golden visa investments, the invested amount must not be borrowed or mortgaged. The property investment, valued at over AED 1 million, must be fully paid for and ready for habitation, including fit-outs. It should not be subject to a post-handover payment plan.
Additionally, the investments must be held for a minimum of three years after the visa is issued. This long-term visa provides the opportunity for investors to sponsor their spouses and children in the UAE. International investors can also apply for a six-month multi-entry visa to fulfill the requirements for processing the Golden Visa.
Investing in properties for the purpose of obtaining a UAE residence visa
Investing in property is closely tied to obtaining a UAE residence visa in several ways:
1. For a property purchase valued at AED 1 million or more, investors become eligible for a 3-year Investor Visa in Dubai.
2. If the property purchase is valued at AED 5 million or higher, investors can qualify for a 5-year or 10-year UAE Residence Visa, provided they meet specific criteria.
3. Property investment is also associated with a Retirement Visa for expatriates aged 55 and above. By investing AED 2 million or more in property, individuals can become eligible for this visa, subject to meeting certain criteria.
For further information, please refer to the following resources: UAE Residence visas for Investors
Investing in real estate in the UAE: Building a foundation for long-term sustainability.
With a property visa valid for 3 to 5 years, professionals and investors in the UAE can go beyond their job requirements and maintain residency while owning a home. By obtaining an investor visa through property purchase, more individuals can stay in the country for an extended period, fostering sustainable demand for real estate in the region. For further information on Property Purchase in the UAE and the Residence Visa process, don’t hesitate to reach out to our expert Business Consultants at Pro Consultancy Dubai. Contact Us today!