According to recent updates, here are few points to note.
- Ownership of a property worth AED5 million or more will be eligible for a five-year residency visa.
- Other investments of not less than AED 10million, including property – which must be worth no more than 40 per cent of the total investment will also qualify for a renewable residency visa every 10 years.
This means that where AED 10 Million is the investment amount, 40% must be in Real Estate.
- Ownership of an investment through a deposit in an established company or a business partnership worth Dh10m or more will be granted a renewable residency visa every 10 years.
- Visa holder can come along with Spouse and dependent children
- If investment is in a company, an executive director and adviser can benefit from the 10 year visa of the investor.
- Investment as partners should be AED 10 Million for each Partner and not a subdivision of the AED 10 Million.
- To apply for the 5/10-year long term visa, a 6-month Multiple Entry visa will be granted to the intended investor in order to be able to apply for the investor visa
- AED 10 Million must be fully owned by the intended investor, it must not be borrowed, which means that a real estate purchased cannot be mortgaged.
- Ownership of funds used for investment must be proved via documents dating back to three years.
This means that bank statements submitted must date back to three years or shareholdings, dividends received etc.
- The investor must be financially solvent.
In order to benefit from the 10 year Residency Visa and Emirate ID, owning a Property in Dubai will be one of the easiest means. This gives an Investor ample time to settle in the Country and multiply his funds.
To know more and if you require further assistance, Please don’t hesitate to contact US