The United Arab Emirates provides foreigners with a residence permit for the purchase of real estate in the country. However, the concepts of residence permit and permanent residence are not in the legislation of the UAE. An immigrant receives a resident visa, which gives the status of a resident and the right to reside in the country.

The UAE residence visa, in fact, is an analogue of a residence permit – it is valid for up to 10 years. The term for which a resident visa is issued depends on the cost of the purchased housing.

For how long is a residence permit issued in Dubai when buying a property?

• A residence permit for 2 years is issued when buying an apartment in Dubai worth more than 750,000 dirhams (about $205,000). In this case, the investor can take advantage of the mortgage.

• Resident visa for pensioners for 5 years is available to investors over 55 years of age when buying an apartment worth 1 million dirhams (about $ 275 thousand). The entire amount must be paid from their own funds. The use of credit is allowed only for the part of the value that exceeds the amount.

• “Golden visa” for 10 years is issued for the purchase of real estate from 2 million dirhams (about $545 thousand). The full amount is paid without the involvement of mortgage lending.

It is important to know that an investor can renew a residence permit in the UAE an unlimited number of times if the property is still in his ownership.

If a foreigner has received a residence visa for 2 years, then he cannot leave the UAE for a period of more than 6 months in a row, otherwise he will cease to be a resident of the country. For holders of a “golden visa” for 10 years, on the contrary, there are no requirements for a minimum period of residence in the Emirates.

It is also important that an investor who has received a residence permit in the UAE through the purchase of real estate can also bring the whole family to the country.

Applying for a resident visa in Dubai is a quick procedure. You can get a residence permit for real estate in 2-3 weeks after submitting the documents.