Dubai Will Be Issuing 2 Year Visa To Real Estate Investors
A two year residency visa is being issued to a person owing property worth Dh 1 million
This brings a ray of hope for owners of property worth Dh 1 million or more. All they have to do is approach the Dubai Land Department with the title deed along with a passport copy and passport size photograph. The only conisderation is that the property should be worth over 1 million and should not have any mortgage on it.
After the payment of the fee the Dubai land Department will issue a approval certificate after which the owner has to approach the Department of Economic Development, which will then issue a trade license for a annual fee of Dh2,000.
When the trade license is issued, the property owner can approach the Immigration counters located in the Land Department, which will issue a two-year investor visa.
The period of 6 months would be extended to 3 yrs for real estate investor visa as declared by the UAE federal government in June 2011. The visa holders shall be eligible for Services such as local driving license, personal loans and getting admission to schools. as far no details of the new visa has been issued.
The cost of six-month residence visa is Dh 2,000. Renewal cost is also the same.
Besides this Dubai is experiencing an uptrend. As stated in an article in Gulf News, “According to a recent report, Dubai remains in the top performing 15 cities in global real estate sector and number one in the Middle East throughout the second quarter with buoyant Asian markets and resurgence in the main European capitals provides a stimulus for growth.”
Emaar, Dubai’s largest developer stated that revenue from the sale of condominiums in the second quarter was Dh699.3 million ($190.4 million), compared to Dh265.6 million in the prior-year period.
To further build investor confidence the Dubai Land Department has introduced some key legislation over the past few years, which has helped regulate and balance the relationships among the developers, agents, and investors in the real estate market.
The Investor Protection Law allows for more transparency of the relationship between the investors and the developers and provides a clear understanding for investors concerning what constitutes a breach of contract by the developer.
Although the law is not likely to be enforced before 2013, investors can use the proposed legislation today as guidance especially when requesting further information from the developer about the property .
With the 2 year visa announced along with other legal initiatives, Dubai is giving property investors confidence in a market where doubts on secured investments were prevalent.
Winston Wambua
International Offshore Specialist
For more information please contact me on
A two year residency visa is being issued to a person owing property worth Dh 1 millionThis brings a ray of hope for owners of property worth Dh 1 million or more. All they have to do is approach the Dubai Land Department with the title deed along with a passport copy and passport size photograph. The only conisderation is that the property should be worth over 1 million and should not have any mortgage on it.
After the payment of the fee the Dubai land Department will issue a approval certificate after which the owner has to approach the Department of Economic Development, which will then issue a trade license for a annual fee of Dh2,000.
When the trade license is issued, the property owner can approach the Immigration counters located in the Land Department, which will issue a two-year investor visa.
The period of 6 months would be extended to 3 yrs for real estate investor visa as declared by the UAE federal government in June 2011. The visa holders shall be eligible for Services such as local driving license, personal loans and getting admission to schools. as far no details of the new visa has been issued.
The cost of six-month residence visa is Dh 2,000. Renewal cost is also the same.
Besides this Dubai is experiencing an uptrend. As stated in an article in Gulf News, “According to a recent report, Dubai remains in the top performing 15 cities in global real estate sector and number one in the Middle East throughout the second quarter with buoyant Asian markets and resurgence in the main European capitals provides a stimulus for growth.”
Emaar, Dubai’s largest developer stated that revenue from the sale of condominiums in the second quarter was Dh699.3 million ($190.4 million), compared to Dh265.6 million in the prior-year period.
To further build investor confidence the Dubai Land Department has introduced some key legislation over the past few years, which has helped regulate and balance the relationships among the developers, agents, and investors in the real estate market.
The Investor Protection Law allows for more transparency of the relationship between the investors and the developers and provides a clear understanding for investors concerning what constitutes a breach of contract by the developer.
Although the law is not likely to be enforced before 2013, investors can use the proposed legislation today as guidance especially when requesting further information from the developer about the property .
With the 2 year visa announced along with other legal initiatives, Dubai is giving property investors confidence in a market where doubts on secured investments were prevalent.
Winston Wambua
International Offshore Specialist
For more information please contact me on
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