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Property investor Residence Visa Residencies Plan of United Arab Emirates (Asia)
Property investor Residence Visa
You must invest at least AED1,000,000 in real estate of a designated and approved area by the Government.
Once you have purchased the property you may apply for a residence visa. This visa will be valid for up to 2 years, renewable, as long as you still own the property and you visit the country at least once every 180 days. Absence for a longer period may lead to the visa's cancellation.
The visa will give you the right to live in any of the 7 Emirates; all government related matters need to be done in the state where your UAE residence visa is issued. Note that this visa does not entitle you to a work permit.
Once you have obtained the visa, you can sponsor your relatives, who may apply for a family visa tied to your residence visa. A man may not apply for a visa for his children, if it is not done together with his wife, unless the latter is deceased.
There is no permanent residence visa, which means that every two years you must renew the visa. This visa does not lead you to citizenship.
Requirements
- Have a monthly income of at least AED10,000 or equivalent in foreign currency.
- Have medical insurance.
- Property must be of an appropriate size to house family members.
- The property should be owned by you.
- The property should be a flat/apartment or villa.
- It should be in the free hold area (i.e. the area where foreigners are permitted to own properties).
- The current value of the property should be a minimum of AED1 million.
- The property should not be a lease to owner or a lease of 99 years;
- If the property is mortgaged, at least 50% of the value of the property should have been paid.
- The title deed should be issued by the Land Department.
Restricted Nationalities
No nationality is officially restricted
dual citizenship
Dual citizenship is not recognized in United Arab Emirates. To become a citizen of United Arab Emirates, you must renounce your previous nationality.
Documents Required
- Evidence of Health Insurance
- Title Deeds or Proof of Registration of Real Estate
- Medical Certificate
- Original and photocopy of passport
- Original Police Clearance Certificate
- Proof of income
- Three passport-size photos
- Bank Statement
- dual citizenship No
- Family members included No
- land ownership No
- Physical residence required No
- Personal visit required Yes
- Language skills required No
- Interview required No
- Investment Single $270,000
- Investment Family 4 $270,000
- Minimum annual income $30,000
- Time to citizenship
- Time to permanent residency
- Visa-free countries 121
- Financing available No
United Arab Emirates
The United Arab Emiratesis a federation of the Middle East and member of the Gulf Cooperation Counciland OPEC. Located on the Arabian peninsula, it borders Oman to the southeast, the Persian Gulf to the north and Saudi Arabia to the west and south. Its territory is made up of seven Emirates: Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sarja and Umm al-Qaywayn. Each emirate has considerable political, judicial and economic autonomy.The emirates are inhabited by 9 million people. The capital is Abu Dhabi, although the most populated and well-known city is Dubai, which is one of the most cosmopolitan cities in the world. Arab and English are the official languages. The official currency is the United Arab Emirates Dirham.
- National Flag of:United Arab Emirates
- Currency:AED
- Area Code:971
- Capital:Abu Dhabi
- Continent:Asia
- Native Languages:Arabic, Farsi, English, Hindi, Urdu
- Population:4,975,593
BENIFITS
With your new passport from United Arab Emirates you'll be able to access 121 countries visa free
temporary residency benefits Warm climate Low tax jurisdiction Banking financial and medical hub Business-friendly policies Extremely safe modern and livable country High quality of life Low crime rate country Well-connected airport No personal direct taxes Potentially profitable investmentFEES
| ITEM | AMOUNT |
|---|---|
| government fees main applicant | Dh2 |
| 000 | |
| processing fees main applicant | Dh1 |
| 100 | |
| other fees | Dh400 (administration fee) |
| processing fees spouse | Dh250 |
| other fees | Dh400 (administration fee) |
| processing fees dependents -18 | Dh250 |
| other fees | Dh400 (administration fee) |
| processing fees dependents 18-25 | Dh250 |
| other fees | Dh400 (administration fee) |
| other fees | Dh400 (administration fee) |
TAXES
The United Arab Emirates does not levy personal income taxes and therefore there is no legal definition of tax residency. However, residents may be able to obtain a UAE Tax Residency certificate, subject to certain conditions.
There is a real property tax levied on the transfer of properties, at rates that vary from 2% to 4%, depending on the Emirate where the property is located. Some municipalities, e.g. Dubai, also levy an annual property tax on the assessed rental value of the property.
The V.A.T. rate, first introduced in 2018, stands at 5% on most goods and services.
Regarding corporate taxation, most economic activities are exempt from income tax, except companies engaging in oil and gas exploration and production, and companies providing financial services. Corporate foreign-ownership is restricted to 49%, except for companies incorporated in the Free Zones and offshore companies.
To learn more on UAE’s corporate taxation, legal framework and tax treaties, visit incorporations.io/united-arab-emirates.
| TAX ITEM | DESCRIPTION |
|---|---|
| Property tax | No |
| Transfer tax | Yes |
| Inheritance tax | No |
| Net worth tax | No |
| CFC law | No |
| Tax residency days | - |
| Personal income tax rate | 0% |
| Capital Gains tax rate | 0% |
| Investment income tax rate | 0% |
| Territorial taxation | Yes |
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