Expat Buying property in Dubai

Discussion in 'Dubai property' started by raffery.dave, Feb 14, 2018.

  1. raffery.dave

    raffery.dave New Member

    Hi, we would like to buy property in Dubai, we are from Eastern Europe but live in the UK. If I become a property owner in Dubai do we get any visa? Thanks

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  2. FWL

    FWL Member

    How many countries offer visas if you buy property? Do you know if there is a minimum investment level? I am based in the UK but open to ideas from around the world.
     
  3. nmb

    nmb Well-Known Member

  4. Mohammad Omar

    Mohammad Omar New Member

    There are two types of visas available to property owners in Dubai:

    The 6-month multi-entry
    Conditions:

    • The property must worth more than AED1 million.
    • Properties with multiple owners must cost AED1 million per shareholder.
    • The property must be finished and suitable to live in at the time of the sale.
    • The visa must be renewed every 6 months.
    • It is considered to be a visit visa, so the individual will need to get a job offer and apply for work visa if needed.
    Costs:

    • 1,100AED renewal fee every 6 months.
    Sponsorships

    • Sponsorships for family members are available within this option. They cost 250AED and must be renewed every 6 months.


    The 2 years residency
    Conditions:

    • The property must be worth more than AED1 million for one property owner.
    • Properties with multiple owners must cost AED1 million per shareholder.
    • The property must be finished and suitable to live in.
    • No mortgages allowed.
    • Must be renewed every 6 months.
    • Is considered to be a visit visa, so the individual will need to get a job offer and apply for work visa if needed.
    • A monthly income of 10,000AED or more to be paid to the owner’s account.
    Costs:

    • Property visa fee of 1,100AED and an administration fee of 400AED.
    • Investor trade license for 2,000AED.
    Sponsorships:

    • The property owner with an investment visa can sponsor their family members at a cost of 6,000AED per member.
    • Maids cannot be sponsored in this case.
     
  5. Very interesting - some countries have quietly dropped visas connected to property purchases but Dubai still holds true to this philosophy. There must be some bargains in Dubai bearing in mind the recent volatility? However, I would view all worldwide property investment as a long-term arrangement especially in the current financial climate.
     
  6. diyhelp

    diyhelp Member

    Hi @coco99

    I have been interested in worldwide property markets for more than ten years now and find it all fascinating. The emergence of hotspots looks obvious in hindsight and it never ceases to amaze me when investors follow the herd and push prices to unsustainable levels. I have found that the time when everyone is an "expert" and a buyer of a particular market is the time to sell. When the last "bears" get dragged kicking and screaming into the "bull" camp, we know the correction is near.
     
  7. Domain Conveyancing

    Domain Conveyancing New Member

    A two year residency visa is available as long as the applicant has 1m worth of equity in the Property. If the Property is owned, for example 50/50, then the Property must have been purchased for over 2m. Property can be mortgaged but, again, the equity must be over 1m in the Applicant's name.

    Cost is approximately $7,000 US, or 25,000 AED. This includes the company formation cost; a non-trading entity is setup 'behind' the property which acts as the 'employer'. Process takes three to four weeks with a need to be in Dubai for a day at the outset, and then come back on a temporary visa anytime within a two month period for another week to finalise medical and Emirates ID.

    Renewal cost is approximately $2k US on year two, and then $4k on year four, recurring.
     
  8. coco99

    coco99 New Member

    You are absolutely right. Market corrections are inevitable, supply/demand levels and buyers perspectives are always changing.
     
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