Options for visas for purchasing real estate in the UAE: What are my options?

Personal lawyer: what visa options do I have if I buyreal estate in the UAE? Your status affects the type of visa you can obtain.

Question:

If I buyreal estate from a developer, can I legally obtain a residence permit for myself and my family members? In that case, will the residence permit be golden or regular? And if I sell the property, will the residence permit be revoked?

Response:

In your situation, you can apply for one of three types of residence visas for real estate (Taskeen): a golden visa for investors, a golden visa for retirees, or an investment visa.

Golden visa for investors:With this service, real estate investors who own property worth two million dirhams or more at the time of purchase (one or more properties) in their name can obtain a 10-year residence visa, which can be renewed, and spouses and children can be sponsors. If the property is mortgaged, a no-objection letter from the bank is required to issue the property visa, and it must contain information about the amounts paid and remaining.

Golden visa for retirees:With this service, retirees who own real estate worth one million dirhams or more at the time of purchase can obtain a five-year residence visa, which can be renewed, and spouses and children can be sponsors. The applicant must be aged 55 or older, own real estate valued at no less than one million dirhams (fully paid, not mortgaged) in their name, or have a deposit in one of the local banks amounting to one million dirhams for three years. The bank must provide a letter stating that the deposit cannot be withdrawn for three years.

Investment visa:With this service, real estate investors who own property worth 750,000 dirhams or more at the time of purchase can obtain a two-year residence visa, which can be extended. Spouses and children can also be sponsors. If the property is mortgaged, at least 50% of the property's value or at least 750,000 dirhams must be paid to the bank. To continue the visa application process, a no-objection letter from the bank along with a mortgage statement is required. The spouse can also obtain a visa (a notarized marriage certificate is required). If the application is submitted on behalf of the investor, a power of attorney is needed.

In all cases, the applicant must provide documents for themselves and their family, including but not limited to a passport, an electronic copy of the title deed, a personal photograph, valid health insurance, the original Emirates ID (if available), and a copy of the latest UAE visa (if available).

Residency tied to real estate means that if you sell the property, you will lose this residency permit.