UAE Residence Visa: how to obtain and what documents are required

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Christina
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17 Aug 2023
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article
17 Aug 2023
316 views
In this article

In this article, we delve into comprehending the procedure for obtaining a resident visa in the United Arab Emirates. We will discuss its fundamental nature, the benefits it offers, and the most straightforward approach to attaining this coveted credential. Continue reading as we provide intriguing and valuable insights below.

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What exactly is a Resident Visa?

Let's address this immediately: acquiring Emirati citizenship is an extremely difficult feat. This involves either spending 30 years as a resident in the country or achieving the status of a world football champion and committing to play for the national team, with some conditions applying. Most expatriates living in the UAE don't strive for citizenship. Nonetheless, this doesn't hinder them from leading a comfortable life in the nation, and the key lies in obtaining a resident visa.

A resident visa serves as a local equivalent of a residence permit. It grants the opportunity to reside in the Emirates over an extended period and effectively places foreigners on par with citizens in terms of legal status. What's more, visa holders aren't obligated to remain within the country throughout the entire duration. A simple visit to the chosen emirate every six months, lasting at least eight hours, suffices.

The most straightforward and dependable approach to acquiring UAE residency is by investing in real estate. Despite the opulent luxury, square meter prices remain relatively affordable. Beyond the lavish apartments or villas, purchasers gain the advantage of being able to renew their visas an unlimited number of times.

Alternate avenues exist as well. One can secure residency by finding employment within a local company or by enrolling in a university. However, our focus in this article centers specifically on real estate investments.

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What benefits does a Resident Visa offer?

Security assurance  

In our current era of unpredictability, having a personal refuge beyond one's home country has become increasingly prudent. The Emirates can serve as such a sanctuary. Stability and safety are constants here, and the populace, comprised largely of expatriates, extends a warm reception to Russians.

Moreover, Dubai, Abu Dhabi, Sharjah, and Ajman have consistently ranked among the top ten safest cities globally. This achievement stems from a quartet of factors: stringent laws, efficient police operations, elevated living standards, and a substantial immigrant presence, particularly evident in Dubai. As we recollect, expats constitute the backbone of this city's populace, and grave infractions are met with the prospects of imprisonment or expulsion. This potent deterrent dissuades 89% of Dubai residents from engaging in unlawful activities.

Taxation favorability  

Emirates residents are exempt from personal income tax, a verity not to be dismissed as folklore or mere promotional stratagem. The entirety of what qualifies as personal income remains fully in your possession. This principle encompasses not only earnings and sales transactions but also extends to interest, dividends, royalties, opulence, affluence, legacies, and philanthropy.

Additionally, residents are free from the burden of capital gains tax, signifying that you retain the entirety of proceeds accrued from asset sales. This category encompasses securities, real estate, and precious metals, for instance. Your financial resources remain exclusively your own within the UAE's jurisdiction.

Holders of resident visas are also exempt from pension taxation in relation to foreign income sources.

Global market access  

The UAE occupies a commanding status as an international business nexus. Daily, multimillion-dollar agreements transpire between global market giants, with entrepreneurs of varying strata routinely forging new connections and collaborating with counterparts from every corner of the world. Establishing your enterprise within the Emirates is both prestigious and propitious, promising substantial dividends.

Cutting-edge healthcare  

The UAE reigns as a premier destination in the realm of medical tourism. Annually, Dubai's clinics and hospitals welcome approximately half a million overseas patients, drawn by the unwavering quality of services. The local healthcare sector adheres to the benchmarks of contemporary equipment, seasoned professionals, and a robust medical infrastructure. Prominent spheres encompass intricate diagnostics, cosmetic surgery, dental care, and reproductive medicine.

Educational enrichment for children  

Children of residents are endowed with unrestricted access to the UAE's avant-garde education framework. Curricula within local schools and universities align with international standards akin to those utilized in the USA and Europe. Pertaining to tertiary education, the Emirates have particularly excelled in domains such as business, engineering, architecture, and information technology. Armed with a degree from a local university, securing employment across the globe becomes markedly feasible.

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Types of investor Resident Visas

Golden Visa  

The introduction of the golden resident visa took place recently, in 2019. Its principal objective is to entice a diverse pool of skilled individuals and experienced professionals of all age groups to the nation. This particular visa category is granted for durations of 5 or 10 years, affording foreign nationals the legal right to reside, labor, and pursue studies within the country. Furthermore, as the validity term concludes, an automatic extension applies. A supplementary advantage extended to business proprietors is the prerogative of full ownership over any business situated on the UAE mainland.

To obtain a golden visa under the investor category, a minimum investment of 2 million dirhams in local real estate is requisite—equivalent to approximately $550,000. Correspondingly, documentation verifying the utilization of personal funds, rather than borrowed ones, for the acquisition is essential.

Investor's Visa  

Investors also have the opportunity to secure a resident visa spanning 2 or 10 years. This necessitates the purchase of property valued at no less than 750,000 dirhams—approximately $205,000. The duration of the visa directly correlates with the sum of capital invested:

  • For investments starting from 750,000 dirhams, a 2-year visa is conferred; 
  • For investments starting from 2 million dirhams, a 10-year visa is granted.

The program's conditions permit the acquisition of real estate through mortgages offered by accredited UAE banks. In such cases, the initial payment should constitute a minimum of 50%. It's imperative to acquire pre-built properties exclusively. Alongside the visa application, it's mandatory to submit a mortgage agreement and an Arabic letter from the bank asserting the absence of objections.

Who can obtain Investor Visa  

The UAE government outlines specific prerequisites for both investors and their immediate family members. Let's start by examining the requisites for the investor:

  • Minimum age of 18 years; 
  • Verified legality of income; 
  • Absence of a criminal record; 
  • Freedom from serious infectious diseases such as HIV, hepatitis, or tuberculosis.

Let's now delve into the provisions for potential recipients of a sponsor visa when applying for UAE residency. In the case of a 2-year visa, solely the spouse is eligible. For a 10-year visa, all children fall within the ambit of eligibility. Unmarried sons aged 25 and unmarried daughters of any age are encompassed within this program.

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This is how the UAE Resident Visa looks

Necessary documentation for investors

Presented below is a roster of documents that necessitate attachment to the resident visa application:

  • Ownership certificate of the property; 
  • Purchase and sale agreement or mortgage agreement; 
  • Verification of the property's value from the land department in your emirate; 
  • Certificates confirming a clean criminal record in both Russia and the UAE; 
  • Original marriage certificate; 
  • Original birth certificates for children; 
  • Original certificates of unmarried status for children under 18 years old;
  • Passport copies; 
  • Medical insurance copy; 
  • Valid UAE visa copy; 
  • Medical examination certificate (Medical Fitness Certificate); 
  • 3x4 cm color photograph against a white backdrop.

All Russian documents must undergo translation into English or Arabic. An essential consideration is budgeting for supplementary expenses encompassing state fees, registration charges, medical assessments, insurance, and diverse legal services. The cumulative sum of these outlays approximates $13,500.

Submission of all documents must transpire at the Main Directorate for Residency and Foreign Affairs. Typically, applications are reviewed within 5-7 days, although occasionally this period may extend up to a month.

Optimal real estate investments  

The choice between residential and commercial properties presents no limitations; the decision rests entirely in your hands. Similar autonomy applies to selecting the property's location. Nonetheless, we recommend directing your attention toward real estate within Dubai—a preeminent emirate renowned for its stability, advancement, and affluence. This locale boasts superb infrastructure, elevated living standards, and lucrative business prospects, accompanied by a myriad of entertainment and captivating locales.

Dubai properties frequently yield substantial returns, exemplified through the following instances drawn from our experience:

Best 3 reselling cases

Project name
Celadon
Central Park
Address The Bay
Buying price
$365,000
$362,000
$5,783,000
When buying
November 2021
December 2021
May 2022
Selling price
$450,000
$450,000
$6,650,000
When selling
September 2022
October 2022
July 2022
How much invested
$73,000 + DLD
$108,600 + DLD
$1,156,000 + DLD
How much earned
$82,000
$87,000
$867,000
Total
+108% in 10 months
+70% in 10 months
+62,5% in 2 months

Irrespective of your property preference, it is imperative that the chosen asset is situated within a freehold zone. In these zones, the property's complete ownership is transferred to the buyer. This stands in contrast to leasehold zones, where the buyer is granted usage rights for a specific duration.

Potential grounds for Resident Visa denial

The most prevalent cause for visa denial stems from inadvertence. If the application package contains errors, inaccuracies, or indistinct scans, it will be promptly returned to the applicant. To avert needless delays, we strongly recommend meticulously reviewing each document before submission.

Additional reasons of potential refusal encompass:

  • The applicant possesses a criminal record within the UAE; 
  • The applicant previously obtained a tourist or work visa but never entered the country using it; 
  • The applicant held a resident visa in the past, which wasn't formally cancelled, yet they departed the country nonetheless.

Extending a Resident Visa  

As long as the owned property remains under your possession, extensions of the resident visa can be sought indefinitely. The application for visa extension can be initiated online or through offline channels—though not earlier than a month prior to the visa's expiry. The following documents must be prepared for the extension process:

  • Original passport; 
  • Ownership certificate of the property; 
  • New medical examination certificate; 
  • Medical insurance card for properties in Dubai or Abu Dhabi
  • Updated Emirates ID issued by the Federal Office for Identification, Citizenship, Customs, and Port Security.

Conclusion  

Are you considering the acquisition of a Dubai apartment, whether for residency or investment purposes? Rest assured, we are here to assist you. Simply navigate to the website's main page, where you'll find a multitude of up-to-date listings from the Dubai real estate market. Alternatively, if you're inclined to save time, don't hesitate to reach out at +7 (495) 431-99-33. Our professionals will curate the most fitting choices for you and adeptly manage the legal intricacies. All this, delivered with care and without any commission.