What is indispensable to know about visa for expenditures in Dubai

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What is indispensable to know about visa for expenditures in Dubai

2021 has been a year of challenges in some respects for Dubai, specifically thanks to the property segment. In 3 quarter of 2021, in accordance with the data of the analytical service Property Monitor, the first record after the pandemic was stated – 15,406 home sales transactions. These numbers were 81% higher than sales in the same time range in 2020 and 48% higher than in 2019 before the global downturn. This fact clearly demonstrates the demand for Dubai in the international arena and underlines the interest of capital providers.

The official site     https://www.axcapital.ae/ will tell you about the distinct preference from expenditures in flats in Dubai Marina – the residence visa, its characteristics and capabilities.

Investor visa in Dubai 

An investment or partner visa is a resident visa variety that enables newcomers to conduct revenue generating operations, promote business and stay for a great while in Dubai.  

It can be granted in a variety of ways, which will be discussed below.

Is Dubai Investment Visa distinct from other Emirates? 

Yes, it is. The rules and regulations for obtainment of an investment visa may diverge in relation to the emirate.

Ways and conditions to get a visa for expenditures 

There are 4 variants for receipt of an investment visa.

No. 1.

Investment in property.

A visa permission is issued for expenditures in property in Dubai.

Conditions:

  • If you buy property yourself, its cost should be equal to or more than AED 1 million; 
  • If the property is bought in partnership, the share of each partner should be equal to or more than AED 1 million;
  • Only residential realty is suitable. Acquisition of commercial facilities or land is not accepted;
  • It is impossible buy real property off-plan;
  • The property should be in ownership of the visa applicant and shouldn’t be offered for sale.

No.2.

Investing in a company.

This variant is suitable for those who plan to open their own or invest in the ready-made enterprise in the territory of the Emirate.

It is known as well as the Dubai 3 Year Investor Visa.

Condition:

  • Incorporation of a company with a assets from AED 72,000 and above, or investment of the same amount in the ready-made enterprise.
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Owners of their own business do not need to look for a local partner, they are assigned 100% business ownership, and there are no additional taxes on ownership.

The process for obtaining this visa may differ based on a number of factors, including the variety of enterprise and the place of free zone. 

No. 3. Retirement visa. 

Citizens investing in residential property in Dubai who have reached the age of 55 can submit the request for a retirement visa. The cost of capital expenditure on property is from AED 2 million and above.

No. 4. Registration of a golden visa..

This variety of resident visa offers the capital providers the opportunity to stay in Dubai for 5 and 10 years.What’s most important is to deposit a fixed sum of money in property.

Conditions for 10 year visa:

  • The presence of an enterprise with assets of AED 10 million;
  • Joint  possession of a ready made enterprise in Dubai with the participatory interest from AED 10 million and above;
  • The aggregate capital expenditures in the fields above is from AED 10 million.

At the same time, you are eligible to a 5-year investment visa for expenditures in property from AED 5 million.

Prerequisites for receipt of 5 and 10 years residence visa: 

  • Financial sufficiency;
  • Capital outlays should be performed at the expense of the citizen, with no involvement of credit funds;
  • The realty / enterprise should be kept for 3 years.

Proprietors with a laying out capitalization of no less than AED  500,000 can get a visa for 5 years.

The duration of Investment visa

The continuance of the visa for capital expenditures accounts the procedure used to get it. 

  • Through capital expenditure on property: from 3 to 5 years (in relation to the value of the property);
  • Capital expenditures in an enterprise: 3 years;
  • Golden visa: from 5 to 10 years (depending on the sum of expenditure);
  • Retirement: 5 years (renewable).

Benefits of an investment visa in Dubai

The holders of visa for capital expenditures get subsequent preferences: 

  • Long stay in the UAE;
  • Unlimited exit abroad throughout the year; 
  • No personal taxes (for individuals);
  • Emirates ID can be submitted for;
  • The opportunity to get a driver’s license;
  • The opportunity to open a personal bank account. 

How should request for an investor visa be submitted?

Virtually any newcomer can ask for an investment visa in Dubai. Here are the endeavours to accomplish for a property visa receipt in Dubai:

Property acquisition visa / Golden visa

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To get a visa admittance, you need to contact the Dubai Land Department (DLD). The papers you have to arrange are: 

  • Original passport;
  • A copy of a valid visa (if any);
  • Original deed of ownership for property.

At the Land Department, you should request a personal endorsement for subsequent transfer to the Dubai Police.

After that a trade license  should be got from the Dubai Economic Department (DED) with the papers that you have.

Once you receive your license, you should go to the General Directorate of Residency and Foreigners Affairs (GDRFA) to submit papers and send in an application for an investment visa.

For the enterprise capital providers

The procedure of an investment visa registration for ready made enterprise proprietors is simple.You can do this at any of the Visa Application Centers, or fill in on-line. 

For the retirees

The application is submitted on-line at the website of the Retire Tourism UAE.You need to write an application with detailed information about you and attach a list of documents. Then you will be contacted and asked to pay a fee of $ 25 (AED 92).This is the process fee and the overall charge for a retirement visa application for foreigners in Dubai.

After the proof of payment, the papers will be revised, and if something is wrong, specialists will check in with you. 

How much does an Investment Visa cost in Dubai?

The cost of an investment visa varies depending on each individual variant. If the visa was obtained through capital expenditures on property, the charge will be about AED 13,000.

For those who plan to get a long-stay visa admittance through capital expenditures in a enterprise on the territory of the country, the registration charge can be AED 1,035.

Long-stay Golden Resident Visa for 5 years will cost AED 650, and for 10 years – about AED 1150. 

Conclusion

Despite the variety of visa variants and simplified conditions for newcomers, it is not so easy to obtain it. Even if your papers are in perfect condition, you may be refused. However, don’t despair! Real property and investments in the economy of Dubai and the United Arab Emirates are highly valued by the government of the country, so capital providers eagerly meet half-way.

Reasons for visa denial 

Denial in obtaining the coveted permission may be due to several reasons:

  • Incorrect filling in documents;
  • Provision of false information;
  • Financial insolvency;
  • Leaving the country without preliminary closing the old visa;
  • Presence of the unclosed tourist visa;
  • Bad credit record.

To ensure a successful outcome, we advise you to contact an experienced adviser.

Purchase of property in Dubai 

Are you in search for a property to move and get passive revenue? Ax Capital realtors will render aid for you to find the advantageous variant based on your considerations and capabilities. Take advice on how to look for and acquire a dwelling in Dubai on the official website. 

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