According to the New World Wealth report, Dubai is the richest of UAE’s cities with the highest GDP per capita. Moreover, property investors are interested in obtaining UAE residency by investing in Dubai. Business communities from around the world see the United Arab Emirates as a great market to boost their investment. This perception is formed due to the UAE’s rising potential and economic growth.
For real estate dealers, Dubai has emerged as a thriving metropolis worthy of profitable investments. Here is the guide to get the UAE residency permit via investment and purchase:
UAE Residency by Investment
UAE offers foreign nationals to get long-term residency permit – Golden Visa – by investing in the country. This allows investors to start their business in Dubai with a temporary UAE residency permit.
However, it’s valid for up to three years. This can be via starting a new business or by investing in the ongoing work.
For Golden Visa, you do not have to have a job offer letter from the UAE company; however, it requires you to deposit at least AED 10,000 in the bank to show your worth.
You can request a residency permit for 5 years over the investment of AED 5 million. Besides, it can be for 10 years if you invest AED 10 million.
The good news is that no income tax is collected from such individuals on the residency permit.
UAE Residency by Purchase
Another route to get UAE residency is by purchasing a property in Dubai. For this, you have to purchase properties that tantamount to at least AED 1 million. This residency permit is also valid for up to three years. However, the candidate will have to prove an income of at least AED 10,000/month.
When you get the permit, you can also sponsor your family members’ residency. This is possible only on an earning of AED 4000. It’s worth noting that the investor may need to submit a leasing agreement to provide a living to his family. However, they will not be able to work in the country during this tenure.
Dubai is the best place to live and invest. Moreover, you can apply for residency and unlock many other opportunities. If you have plans to invest in real estate, visit Foot Print Real Estate. Reach out and get expert advice for all commercial and property investments. We are the leading real estate agents in the UAE with over 15 years of experience.