Dubai has recently eased requirements for its two-year property-linked residency visa. It has removed the minimum property value threshold for sole owners. Moreover, it has also introduced an AED400,000 minimum per investor for jointly owned investments. Here’s all you need to know about this big development coming in for property owners in Dubai.
What Has Dubai Changed For The Two-Year Investor Visa?
In a report of Gulf News, under the updated rules, which have been issued by the Dubai Land Department through its platform, the previous minimum requirement was AED7,50,000 for individual property ownership. Now this has been scrapped. However, this is only applicable if the applicant is the sole owner of the particular asset. For jointly owned properties, the authorities have said the minimum share value of AED4,00,000 per investor. This includes cases where the ownership is split equally between the partners.
The changes come as the UAE continues to streamline its property-linked residency framework. This is under a unified digital platform, which is managed by the General Directorate of Residency & Foreigners Affairs and the Dubai Land Department.
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What Are The Main Visa Categories?
So right now, the system is structured around three main visa categories, and these are as follows:
- This is a two-year investor visa, which is aimed at entry buyers. It has now been updated so that it removes the minimum value for sole ownership.
- There is a five-year retiree visa, which is for individuals who are aged 55 and above. It requires AED1 million in fully paid property or as an alternate financial criteria.
- A 10-year Golden Visa requires a minimum of AED2 million property investment. This includes off-plan and mortgaged assets. There is no minimum stay requirement outside the UAE.
So, with this development, property owners can easily apply for their residency visa. Don’t forget to share this development with your fellow Dubai buddy, as we’re sure they will also want to know about this change in the rule.
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FAQs
How has Dubai made the two years investors visa easier for property owners?
Dubai has made a two-year investor visa a lot easier for property owners, as the minimum value of AED750,000 of the property as a requirement has been scrapped.
What are the three main long-term visa categories in Dubai?
Dubai has three main long-term visa categories, which are the 10-year Golden Visa, the five-year retiree visa, and the two-year investor visa.