Overview
Property Description
Real estate acquisition in the United Arab Emirates not only represents a high-yield investment but also provides an opportunity for residence to those who desire it! The UAE offers visa eligibility for property investors for a duration of 2-5 years, depending on the extent of the investment. The minimum investment amount is 750,000 AED, while obtaining the maximum 5-year Golden Visa requires the purchase of real estate valued at 2,000,000 AED or above.
2-4 years UAE Visa for spouses
Our case
Steven and Maria decided to explore the world as their children had grown up and flown the nest; it was time for a change. With a mutual decision, they chose the versatile and exciting city of Dubai. As a married couple, Steven and Maria intend to apply for a visa with a minimum requirement of 1,000,000 AED. While they want to immerse themselves in the bustling life of Dubai, they plan to run their joint venture from home and, at the same time, crave a calm and relaxing environment. Therefore, they opted to purchase the Prestige villa located in the Damac Hills 2 area.
InvestDubai provides comprehensive assistance for the visa application process.
Investors in real estate in the UAE can obtain a visa for 2-5 years based on the value of the purchased property. The minimum investment value is 750,000 AED, for married couples it is 1,000,000 AED, and a Golden Visa can be obtained with an investment of 2,000,000 AED or more. The residence permit can be renewed multiple times after acquisition. The required amount for visa application can be achieved through the purchase of multiple individual properties.
The Dubai lifestyle offers numerous advantages with the visa, such as opening a bank and savings account or optimizing taxes. UAE residents do not pay income tax; the corporate tax is 9%. It’s no wonder that 80% of the population in the United Arab Emirates is foreign.
Golden Visa application process
1. Preliminary Check (Due Diligence): Applicants must undergo a preliminary examination of their financial and other backgrounds, assessing the risk of visa rejection.
2. Real Estate Purchase
3. Required Documents: Passport, marriage certificate, identification photos, property title deed, police and health compliance certificates, insurance.
4. Health Check: Every visa applicant is obligated to undergo a medical examination, with a cost of approximately $220 per person.
5. Visa Processing: The evaluation of visa applications typically takes 5-7 days.
Property Overview
Property type: Villa
Location: Prestige Villas, Damac Hills 2, Dubai
Size: 3 bedrooms, 112 sqm
Purchase price: 1,712,000 AED ($466,180)
Location
DAMAC Hills 2 is just a short drive from the city center, yet it feels like a world away. A residential community inspired by water, sports, and entertainment, it provides perfect relaxation and enjoyment for all age groups. In DAMAC Hills 2, groups of apartments, townhouses, and villas are surrounded by a completely new range of experiences, attractions, and convenience services.
The Duo Prestige Villa, in its own right, offers a premier practical solution for today’s lifestyle. These rooftop houses with open views and private offices provide ample privacy and a natural ambiance.
Property Purchase Process
For married couples, the property must be jointly owned, and the minimum investment value increases from 750,000 AED to 1,000,000 AED ( appr. $272,000) for the minimum 2-year visa application. InvestDubai provides complete assistance for the purchase and visa processing.
Estimated costs associated with property purchase:
- Property price: 1,712,000 AED ($466,180)
- Property purchase tax (transfer tax): 4%
- Registration fee (appr. $1,000)
- Administration fee ( appr.$150)
- Title Deed issuance: (appr. $100)
Additional benefits
If Steven and Maria decide to seek another residence after the expiration of the visa, they can convert their home into a source of income.
Expected Appreciation: 5-10%
Annual Rental income: 55-65,000 AED
- Principal and Interest
- Property Tax
- HOA fee
