Hello World! Welcome Friends! Dubai is a city of great opportunities, attracting not only tourists but also those who are moving here permanently. The climate without cold and slush and the high quality of life make the emirate in demand among expats. The only difficulty is that it is almost impossible for a foreigner to obtain UAE citizenship. The only way out is to apply for a resident visa. If you buy real estate from an agency in Dubai, the process of issuing a residence permit is simplified.
Resident Visa For the Purchase of Foreign Housing
Legal residence in the country is impossible without registration. A tourist visa is not equivalent to a residence permit and is valid for no more than 29 days. It cannot be extended and used to obtain a work visa. The duration of the residence visa when buying property in Dubai is much longer. The duration depends on the type, which we will discuss below.
Advantages of Having a UAE Resident Visa
A residence permit is not only necessary for a legal stay in the United Arab Emirates. It also allows you to:
- Use banking services, including mortgage and consumer lending.
- Get a higher education or provide secondary education to children.
- Do business, although you can apply for a business visa to run your business in the UAE.
- Apply for a work visa.
- Use not only paid but also public services. Health insurance is compulsory.
Types of Resident Visas For the Purchase of Dubai Real Estate
They vary in duration:
- A three-year residence permit can be issued for the purchase of a home for over $204,000.
- A five-year residence permit can be issued for the purchase of real estate for over $1,360,000. It does not matter whether one premium villa or several apartments are being bought.
- The price of real estate for obtaining a ten-year visa must exceed $2,720,000.
Buying a home for cash is a prerequisite, and a mortgage does not suit. Also, the owner is limited in the use of housing: he cannot sell it for three years, otherwise, the visa will be canceled automatically.
Dubai offers a wide range of housing at various prices to choose an option for permanent residence, resident visa, or investment. The website https://www.axcapital.ae/ contains up-to-date offers from real estate agencies and developers.
Visa for Pensioners
The UAE authorities have launched a program for wealthy pensioners moving for permanent residence. After reaching 55, they can obtain a residence permit for five years. At the same time, the applicant must purchase a property for over $544,520 and confirm passive income. It should be at least $5,500 per month.
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