UAE is home to a plethora of expats from different parts of countries. It is one of the world’s safest places with minimal crime rates. As a result, many are preferring to settle down in UAE with family and purchase properties. The United Arab Emirates (UAE) has become an attractive destination for individuals seeking residency and investment opportunities. One of the pathways to obtaining residency in the UAE is through property ownership. In this article, we will explore the various visas available to individuals who purchase property in the UAE.
Various Visas You Can Get After Purchasing Property
The Property Investor Visa: The Property Investor Visa is designed for investors who purchase property in the UAE. To be eligible, the property must meet certain criteria, such as a minimum purchase value. This visa grants residency to the property owner, their spouse, and children. It provides a renewable visa validity period, allowing individuals to reside in the UAE and enjoy its benefits.
The Golden Visa: Introduced in 2019, the Golden Visa is a long-term residency program aimed at attracting foreign investors, entrepreneurs, and talented professionals to the UAE. Property owners who meet the eligibility criteria can apply for the Golden Visa, which offers a 5 or 10-year residency period. This visa covers the property owner, and their immediate family, and is renewable upon expiration.
The Retirement Visa: The UAE Retirement Visa is specifically designed for individuals aged 55 and above who wish to retire in the country. Property owners who meet the required age criteria can apply for this visa, which offers a renewable five-year residency period. The visa covers the property owner, their spouse, and dependent children. It provides a great opportunity for retirees to enjoy the UAE’s exceptional lifestyle.
The Investor Visa: The Investor Visa is another option available to property owners who wish to reside in the UAE. This visa is open to investors who have made a significant financial investment in a property or business. The minimum investment amount and other criteria vary depending on the emirate. The Investor Visa provides a renewable residency period and allows property owners to live and conduct business in the UAE.
The Property Owner Visa: Some emirates in the UAE offer a Property Owner Visa, which grants residency to individuals who own property within the respective emirate. This visa is suitable for property owners who do not intend to work or engage in business activities in the UAE but wish to reside in the country. It provides a renewable residency period and allows property owners to enjoy the lifestyle and benefits of the UAE.
The Self-Employed Visa: Property owners who wish to establish their own business in the UAE can apply for the Self-Employed Visa. This visa allows individuals to become self-employed and manage their own businesses within the country. It offers a renewable residency period and provides property owners with the opportunity to pursue their entrepreneurial goals while residing in the UAE.
Purchasing property in the UAE opens doors to various residency options, allowing individuals to live, work, and invest in this thriving country. The visas mentioned above provide avenues for property owners to obtain long-term residency for themselves and their families. It is important to research and understand the specific requirements and criteria associated with each visa before making a property purchase. It is advised to seek consultation of visa services in UAE to assist in the process. Seeking professional advice can greatly assist in navigating the process and ensuring a smooth transition to living in the UAE.