To get a UAE residence visa, you have to buy a freehold property in the UAE. To do that, you need to invest a certain amount of money into the property, which is usually 50%. You also need to get a non-objection letter from the bank. The property must be residential in nature and have a min value of AED one million or more. In this blog, I am going to discuss getting a residence visa Dubai with fruitful investment purposes. Let us move on:
Investing in Real Estate
Investing in real estate in the UAE can help foreign nationals obtain residence visas. The minimum value of the property must be AED one million and the investor must have a 50% share in the property. The investor must also hold the property for at least three years. The property must be freehold, residential, and worth at least AED one million.
Getting a residence visa UAE is not a difficult process. There are two types of residency programs: a five-year residency visa and a ten-year residence visa. The residence program in the UAE was revised this year and now offers several options for investors. Depending on the skills and experience you have, you may qualify for a five or ten-year visa.
Setting up a Company
If you are planning to invest in the UAE, you should consider setting up a company. In order to get a UAE residency visa, you need to have a business and be an owner. Luckily, there are many options available for those looking to invest in the UAE. These include starting your own business or purchasing an existing one. Once you have your business established, you can start working and living in the UAE.
To set up a company, you can choose a free zone or a civil company. Both have advantages and disadvantages. A free zone company is not limited to one city and has more flexibility with banks. It can also help you get a tax residence certificate and a residence permit.
Applying for a Residency Visa
You need to have a bank non-objection letter and a marriage certificate. This visa is valid for 5 years. Even though residence visa renewal in Dubai is also easy. You can also apply for a retirement visa once you reach 55 years of age.
To apply for a residency visa in the UAE, you must have a valid Emirates ID and a valid driving license. A residence permit can be obtained for AED 13,000-AED 15,000 depending on the type of visa you get. You can stay in the UAE for up to 6 months at a time.
Tax Savings
When you invest in UAE property, you can benefit from a favorable tax regime. There is no personal income tax in the UAE and only 5% VAT on goods and services. This has attracted many high-net-worth individuals to the Emirate. The UAE has excellent infrastructure and financial legislation.
There are a few requirements to get a UAE residence visa. Among them is the investment in freehold property in the country. The value of the property must be over AED1 Million. This amount must be the purchase price stated in the title deed or the current property value. The UAE also has a strong banking network, which makes the country an attractive location for investment.
In addition to being an attractive location for investment, the UAE is also an attractive place to live. A very high standard of living. The country is a popular expat destination, which attracts millions of tourists every year. Aside from offering a relaxed, safe living environment, the UAE has a favorable tax structure that fosters big growth opportunities.
Luxury Lifestyle
If you are planning to invest in real estate in Dubai, you might be wondering how to get a residence visa. There are various prerequisites that should be met to qualify. First, you must own residential property of AED one million worth. This may be joint ownership or more than one property. Moreover, you must reside in the country for at least six months a year in order to maintain residency. In addition, you can do your UAE residence visa renewal with the same process.
The UAE offers a high standard of living and high security. You can also apply for a residence visa that allows you to live and work in the country for a maximum of two to ten years. Several routes you can take to get a residence visa in the UAE. One of the simplest routes is to invest in residential real estate. It is a great investment, and there are many advantages to being a real estate investor.
