Authorities in Dubai have updated the rules for residency visas tied to property investment, changing the conditions for the two-year renewable permit and making it accessible to a wider group of investors, Khaleej Times said in a report. Under the new rules, the previous minimum property value requirement of Dh750, 000 for sole owners has been removed. Applicants must now hold full ownership of a property to qualify under that category. For jointly owned properties, each investor must hold at least Dh400, 000 worth of shares to be eligible, even if ownership is split. The updated criteria were published on the Cube Centre, an entity linked to the Dubai Land Department, which provides services for real estate investors. No formal public announcement was issued, the report said. Applicants are required to fulfil standard documentation requirements, including a valid title deed for a Dubai property, a passport copy, an Emirates ID, medical insurance, and a good conduct certificate issued by Dubai Police. Under the new rules, applicants from Pakistan, Iran, Iraq, Libya and Afghanistan must bring their National ID cards. In cases where properties are mortgaged or under payment plans, investors must also provide a no-objection certificate from banks or developers. In cases where property has been completed and is no longer under construction, investors are required to submit a payment statement and proof that at least 50% of the property value has been paid, the report added. The property-linked residency scheme is part of the UAE’s wider visa framework introduced in 2019 to attract foreign investors and professionals. The programme allows property owners to obtain renewable residency without a local sponsor and to sponsor family members.
Dubai eases rules for property-linked residency visas
RELATED ARTICLES
