Dubai, the business hub of the United Arab Emirates (UAE), has relaxed the rules for issuing two-year residency visa to property investors.
Reports said the authorities have changed the conditions for the residency permit to attract more investment in the property sector.
The Dubai government is yet to make an official announcement in this regard but the development was shared by the Cube Centre, an entity affiliated with the Dubai Land Department specialising in services for real estate investors.
Minimum Property Value Requirement
The updated regulation eliminates the earlier minimum property value threshold of Dh750,000 for individual investors.
Applicants must now be the sole owner of the property. In cases of joint ownership, each co-owner must have a property stake valued at a minimum of Dh400,000 to qualify for the residency visa, even if the property is equally shared.
Documents Required for Dubai Residency Visa
Property title deed in Dubai (properties in other emirates or DIFCA are not eligible).
Valid passport copy (must have at least six months’ validity).
Emirates ID.
High-resolution digital photograph meeting ICP specifications. Refer to Federal Authority for Identity, Citizenship, Customs & Port Security guidelines for photo requirements.
Health insurance from any UAE-licensed insurance provider.
Certificate of good conduct from Dubai Police, addressed to the Dubai Land Department.
Applicants from Iran, Pakistan, Iraq, Libya, and Afghanistan must provide their national ID.
The name on the property title deed must exactly match the passport name.
Authorities said all medical insurance is mandatory for all residence permit applications. Qualified investors can also sponsor family members.
