FAQ
Q1.
What Are the Types of Residency Visa offered to Property Investors in UAE ?
Dubai-based property market, offers multiple options for you to choose from. Starting with sleek and modern apartments, elegant townhouses and grand villas as well as various commercial buildings, you will get access to a wide range of options
Both buyers and small-time investors also benefit from easy and flexible post-handover payment plans, service charges waiver and relaxation on DLD fees, especially in the context of off-plan projects.
Types of Visa you can choose from:
- 6 – Month multi-entry visa - Almost functions like a Multiple Entry tourist-visa .
- 2 – Year Residence Visa - Issued by Dubai Land Department for those who are interested to buy or invest in a property worth more than AED 750,000.
- 5-10 – Year Residence Visa - For those who are investing more AED 2 million, they are considered eligible for the 5-10 year residency visa.
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If you own a property or a group of properties, you may be granted a Golden visa for a period of 5 years, renewable on the same conditions and without a sponsor subject to the:
- provision of a letter from the land department of the respective emirate stating that he owns one or more properties whose value is not less than 2 million dirhams
- purchase of a property with a loan from specific local banks approved by the competent local entity.
- 5 – Year Retirement Visa - Applicable to 55 years-old and above , Property Investment of AED 2 Million or savings worth AED 1 Million or proof of income of AED 20,000 per month.
Q1.
Why Invest In Dubai ?
1. LONG TERM RESIDENCY VISAS
• Under the Golden Visa system.
2. SAFEST CITY
• Ranked one of the Safest cities In the world.
3. MINISTRY OF TOLERANCE
• Only country in the world to have a Ministry of Tolerance.
4. DUBAI AIRPORT
• Ranked as the Busiest International Airport in the world, with over 90 mn passengers being handled annually.
5. WORLD CLASS EDUCATION AND HEALTHCARE
• A seven-year agreement signed with McGraw-Hill Education, a learning science company. Dubai Health Care City (DHCC) is the world’s first business park/cluster of 20 million square feet devoted to health care.
6. EASE OF DOING BUSINESS
• Dubai ranks 16th out of 190 countries in ease of doing business. And 100% Business ownership under new law.
7. BEST PLACE TO LIVE AND WORK GLOBALLY
• Dubai ranks 5th in the list for Expats, as the best place to live and work globally.
8. AT THE CENTER OF THE GLOBE
• A 4-Hour Flight - from 31% of the world’s population with 11% of global GDP.
• An 8-Hour Flight - from 76% of the world’s population with 53% of global GDP.
9. MULTI-CULTURAL SOCIETY
• Home to about 200 nationalities.
10. HIGH QUALITY INFRASTRUCTURE
• Named among the world's top locations to invest in infrastructure, ranked third behind Singapore.
11. ZERO TAX
• 0% income tax, 0% capital gains tax, 0% corporate tax.
12. OFFICES OF FORTUNE 500 COMPANIES
• Out of the Fortune 500 companies, 196 companies have an oce in Dubai.
13. HIGHLY COMPETITIVE REAL ESTATE PRICES
• As compared to global cities like New York, Hong Kong, London, Paris, Singapore and Tokyo.
14. PRO-ACTIVE GOVERNMENT
• A series of monetary and fiscal measures by the government have cushioned the impact of the COVID19 Pandemic with local lenders stepping in with payment holidays for three months.
15. Host of Expo 2020
Q1.
What is the Checklist for Home Loan Applications by NRI Employees?
1) Six months pay slip at the latest.
2) Six months bank statement latest (NRE/NRO & Salary account)
3) Passport and Visa photocopy to be attested by Indian Consulate/ Embassy.
4) Current address proof (A. Passport B. Driving License C. Any other Document issued by the Government Departments of Foreign Jurisdiction. Embassy Letter issued by the Foreign Embassy or Mission in India. )
5) GPA, Passport, Visa & Current address proof photocopies to be attested by Indian Consulate / Notary.
6) 2 photographs
7) Processing fee from NRE or NRO a/c Rs.5000 + GST.
8) HR Email ID for employment verification OR Employer confirmation letter from HR.
9) If there are any other loans running then the loan supporting documents required.
10) Credit bureau report with score in English
11) W2 OR T4 for income tax proof.
12) As on date current ROI 8.60% (Subject to cibil score 750 & above.
13) You need to provide a local point of contact POA id proof and current address proof and the same POA physical verification will happen.
14) You need to provide the property cost sheet.