Dh750,000 real estate investment in Dubai = 2-year residency on application

Dubai: If you have invested in real estate in Dubai, you may have the opportunity to obtain a two-year residency, which allows you to stay in the country without a sponsor and bring your family to the UAE. If you own a property worth at least AED 750,000, or you and your spouse jointly own a property of the same value, you can apply for an investment visa for property owners through the Dubai Land Department's (DLD) Cubic Center. You can only apply for a visa while in the country. The DLD Cubicle Center is an integrated customer service center for real estate investors to help them go through all the necessary steps to obtain a residency visa. Here's everything you need to know.

What are the requirements for applying to the UAE?

• Own real estate in the UAE worth at least AED 750,000.
• If the property is mortgaged, a No Objection Certificate (NOC) from the bank or developer is required, as well as an extract from the mortgage agreement.
• If the property has already been built and is not under construction, proof of payment of 50 percent of the full value of the property - not less than AED 375,000 is required.
If the property has already been built and is not under construction, proof of payment of 50 percent of the full value of the property is required.
• If the property is jointly owned between husband and wife, the share must be equal for both parties. In the event of failure to meet this requirement, the owner of the largest share will be the primary visa holder who sponsors his or her spouse.

Required Documents

The documents you must provide:

• The certificate of ownership of real estate in Dubai - the value of the property shown on the certificate must be at least AED 750,000. According to the DLD, it is important to note that a certificate of title issued for other emirates or by the Dubai International Financial Court (DIFCA) will not be accepted.
• Copy of the original sale certificate if the property is mortgaged to the developer.
• Certificate of consent to alienation (NOC) from the bank if the property is mortgaged.
• Marriage certificate - certified by the Ministry of Foreign Affairs and translated into Arabic. This is only required for spouses who have joint ownership of real estate.
• Copy of your passport with an expiration date of more than six months.
• Copy of your current UAE visa - residence visa, tourist visa or visa on arrival.
• Emirates ID (Emirates ID) if you are a resident.
• Passport photo that meets the requirements of the UAE Federal Authority for Identification, Citizenship, Customs and Port Security (ICP).
• Current medical insurance from a company in the UAE.
• A criminal record certificate from Dubai Police addressed to DLD. According to DLD Cube, depending on the applicant's nationality, they may be required to provide identification from their home country.

Health insurance coverage options:

In accordance with the regulations of the General Directorate of Residency and Foreigners - Dubai (GDRFA-Dubai), health insurance is mandatory for all residency permit applications. The DLD Cubic Center also offers applicants assistance with this requirement, whether they want basic or full coverage. If you have any queries regarding health insurance in Dubai as a real estate investor, here are the contact details:

• E-mail address: [email protected]
• The landline phone number is 04 203 0637.
• Mobile phone and WhatsApp number: 050 917 1057 and 056 934 7917.

Visa costs

AED9,958 is a two-year visa for real estate investors. This includes the full cost of completing the application, medical examination and Emirates ID stamp.

7,808 AED for visa extension. You can pay by bank transfer, credit card or cash.

How to apply for a two-year real estate investment visa in Dubai

You have two options:

1. Visit the reception area of the DLD Cube Center - which is located on the first floor of the official DLD headquarters located on Baniyas Road, Rigga Al Boutin, Deira. Mode of operation:
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Steps:

1. Pick up all required documents locally and visit the DLD Cubic Center reception desk.
2. A customer service staff member will check your documents and complete your visa application.
3. The officer will then direct you to the customer service desk to pay the fees and submit your application.

After submitting your visa application, you will be notified to schedule a medical examination and fingerprint scan for your residence permit and Emirates ID. You will also be sent a reference number by email and SMS to track your application.

• Certificate of Title - When uploading the certificate of title, you will need to select if the property is mortgaged. If yes, select "Yes" from the drop-down menu. You will then have the opportunity to submit a NOC and a bank statement. Next, you will be asked another question - whether your property is jointly owned with your spouse. If yes, select "Yes" from the drop-down menu. You will then need to upload your marriage certificate.
• Copy of your current visa - residence, tourist or arrival visa.
• Medical insurance.
• Certificate of good reputation and behavior issued by the Dubai Police, addressed to the Dubai Land Department.
• A valid copy of your passport - if you are an Indian citizen, you must provide a copy of the first and last page of your passport.
• Upload a passport size photograph.

How long does it take to get a visa for real estate investors?

According to the DLD call center - 800 4488, the whole process takes seven to ten days.

Tracking the status of the application

To track your investment visa application, follow these steps:

1. Go here: dldcube.com/en/request-status/
2. Enter your email address or cell phone number.
3. Enter your quota number, which is the tracking number you received from the DLD Cubic Center during the application process.
4. Then enter the captcha code and click submit.

You will be notified of the current status of your submission.