Obtaining Residency in the UAE Through Real Estate Investment in 2023: Conditions and Process

Today, the UAE, especially Dubai, has become a magnet for foreign investors and those who dream of elegant luxury. While acquiring citizenship in the UAE is nearly impossible for foreigners, there is a real opportunity to secure residency, or what is officially referred to as a residence visa. This article will explore the conditions and procedures associated with purchasing real estate and obtaining residency in the UAE in 2023.

Grounds for Obtaining Residency in the UAE

There are numerous grounds for acquiring a residence visa in the UAE, with one of the most popular being real estate investment. In Dubai in 2023, you can obtain a residence visa for two years by investing in real estate valued at 750,000 dirhams or more, while in other emirates, the threshold is set at 1,000,000 dirhams.

Conditions for Obtaining a Residence Visa Through Real Estate Investment

To obtain a residence visa through real estate investment, you must meet the following conditions: 1. Property Value
  • In Dubai: More than 750,000 dirhams.
  • In other emirates: More than 1,000,000 dirhams.
2. Mortgage Conditions A visa can be issued if:
  • You’ve purchased property worth over 1,000,000 dirhams and repaid over 50% of its debt.
  • You’ve acquired more expensive real estate and have already paid 1,000,000 dirhams.
3. Joint Ownership of Real Estate There is an option for joint property ownership. In this case, each owner must hold a share of real estate valued at over 750,000 (1,000,000) dirhams. 4. Property Characteristics To be eligible for a residence visa, the property must meet the following criteria:
  • The property should be residential, such as apartments or houses.
  • The property’s size should match the number of occupants (family members).
  • The property’s size should match the number of occupants (family members).

Duration of Residence Visas

The duration of residence visas in the UAE depends on the specific emirate and the value of the purchased property.

Dubai Real Estate

In Dubai, you can choose from the following options:
  • A 2-year visa for property purchases starting at 750,000 dirhams.
  • A 10-year visa for purchases of off-plan properties valued at 2,000,000 dirhams or more. This change came into effect in September 2022.

Real Estate in Other Emirates

When purchasing real estate in other emirates, you can obtain a residence visa for a shorter duration:
  • From 6 months to 2 years for property purchases starting at 1,000,000 dirhams.
  • A 10-year visa for property purchases starting at 2,000,000 dirhams (a five and 10-year investor golden visa has also been available since September 2022).

Renewing Your Residence Visa

Visas, regardless of their duration, can be renewed multiple times as long as you retain ownership of the property. You can initiate the renewal process several months before your visa expires. Starting from mid-2023, the requirement for visiting the UAE every 180 days to maintain your visa has been eased, making it more convenient for long-term residents with 10-year permits.

Residence Visas for Family Members

Residence visa holders have the right to apply for visas for their family members:
  • Men can apply for visas for their wives, unmarried daughters, and sons up to 25 years old (since September 2022) and parents (with a minimum monthly income of 20,000 dirhams).
  • To sponsor their wives and children, men must earn a minimum monthly income of 4,000 dirhams.
  • Women can also purchase real estate in the UAE and apply for visas for their families but must have a minimum monthly income of 10,000 dirhams.
  • Holders of the “Golden Visa” are exempt from proving their income and can apply for visas for their families and domestic staff.

Steps to Obtain Residency Through Investment

The process of obtaining residency in the UAE through real estate investment typically follows these steps:
  1. 1. Entry into the UAE requires only a valid passport for Russians.
  2. 2. Selection of real estate, which can even be done remotely.
  3. 3. Signing a contract with the developer, agent, or individual.
  4. 4. Making payments (either in whole or partially).
  5. 5. Property registration with the Land Department and obtaining a Title Deed.
  6. 6. Obtaining a police clearance certificate from the UAE.
  7. 7. Providing medical test results for HIV and tuberculosis and obtaining a medical certificate.
  8. 8. Preparing the necessary documents.
  9. 9. Submitting an online or offline application for a residence visa through GDRFA.
  10. 10. Identity verification and payment of government fees.
  11. 11. Receiving the residence visa and obtaining the Emirates ID.
Owning real estate in the UAE and obtaining residency is a unique opportunity to savor a life of luxury and experience the diverse cultures of this country. The UAE continues to attract investors with its programs and opportunities, making it one of the most desirable destinations for real estate acquisition and residency in 2023.