Property Visas – A Retirement Solution in Dubai?

Buying property in Dubai doesn’t just provide lifestyle and investment opportunities. It can also open the door to long term residency. With the right purchase, expats can qualify for a property visa Dubai, giving them the right to live in the UAE for three or five years. For many, a UAE property visa is an attractive retirement or residency solution, combining security with the benefits of owning property in Dubai.

Types of visa for property owners

There are several visa types available to those wishing to enter and live in the UAE, including the 1 or 3 month visit visa, multiple entry visa, course study visa, 3 month medical visa, 1 month tourism visa and the 2 year employment visa. However, for those who have purchased property, the Dubai residence visa and property visa offer the most relevant options. These visas cater to long term stays, making them ideal for property owners, retirees and those looking to settle in the UAE. 
 

Dubai residence visa

A Dubai residence visa allows individuals to live in Dubai for an extended period. For property owners, this visa is an excellent choice, as it enables them to reside in the UAE long term. To qualify, the property must meet specific criteria, such as ownership status and value. 
 

Retirement visa Dubai

The retirement visa Dubai is an appealing option for retirees. For those wishing to retire in the UAE, the 3 or 5 year property visa provides an opportunity to do so through property ownership. By meeting the property value requirements, retirees can obtain residency and enjoy their retirement in Dubai, one of the world's most attractive destinations. 
 

Property visa

The property visa is designed specifically for property owners in Dubai. It is available for both 3 and 5 year durations, depending on the value of the property. This visa allows property owners to secure residency in Dubai, making it a great option for those who wish to live in the UAE for an extended period.

Key conditions for obtaining a property visa

Unsurprisingly, there are various conditions that need to be met to become eligible for a 3 or 5 year property visa. Simply owning a property doesn’t, of itself, cut the mustard. We categorise the requirements below.

“A property visa entitles you to reside in the UAE for the 3 or 5 year duration of the visa. It does not entitle you to work in the UAE. ” 

Title

The property must have a freehold title. If you are a leaseholder, then no matter how long the lease is for or how much the property is worth, you will not be able to use that property to support a property visa application. 
 

Residential & Commercial

Previously, the property needed to be residential. Now, it can be residential, commercial (e.g. office) or industrial (e.g. warehouse). It cannot, however be an undeveloped plot of land. Note that the property must be a completed property. Off Plan properties that have not been completed will not be acceptable to the authorities. 
 

Mortgages

Previously, the property had to be unencumbered. More recently, the authorities will accept properties that are mortgaged, provided that at least 50% of the property value has been paid. The AED 1 million property value provisions still applies. Note, however, that where there is an Islamic mortgage in place, the property will usually be owned by the bank and leased to you as the mortgagor under a long term lease, with the rental payments equating to the mortgage instalments. In that case, the property will not qualify, as you will fall foul of the freehold requirement. If you are applying for the 5 year visa, the property must still be unencumbered. 
 

Joint Ownership

It is possible for jointly owned properties to be used to support residency applications, provided the value of the share of each applicant meets the AED 1 million threshold level. In the case of joint ownership by spouses, the AED 1 million threshold is shared by both partners and so a 50/50 jointly owned title to an AED 1 million property is sufficient. 
 

Restrictions  

A property visa entitles you to reside in the UAE for the 3 or 5 year duration of the visa. It does not entitle you to work in the UAE. Therefore, if you have a property visa and you decide to take up employment, you will need to cancel your property visa and apply for an employment visa. 
 

Value

For the 3 year visa, the property must be worth at least AED 1 million. Not at the time of applying for the visa, but at the time of purchase. With the recent market decline, a property under that threshold now may well have been over it when it was purchased and could therefore still qualify. Recent changes in the regulations have meant that now up to 3 properties can be included in an application, if their combined value meets the AED 1 million threshold. In the case of the 5 year visa, the applicant must have invested AED 5 million in the property, rather than AED 1 million.

Required documents for a property visa

There are a number of documents that will be asked for at the various stages of the property visa application process. These will include:

• Title Deed of the property
• NOC from the bank (in case the property is mortgaged)
• Passport & passport sized photograph of the applicant
• Current visa of the applicant (if applicable)
• Good Conduct Certificate issued by the Dubai Police

These documents must be submitted to the Dubai Land Department, the authority responsible for processing Dubai residence visa applications.

How to apply for a property visa in Dubai

The application process for a property visa involves several steps, including submitting the necessary documentation to the Dubai Land Department and other governmental agencies. While the process may seem complex, the various requirements can be managed with proper guidance, especially if you're considering the retirement visa Dubai.

Conclusion - a long term solution for retirees

It is now possible to obtain 3 or 5 year UAE residency visas based on freehold property ownership of residential, commercial or industrial real estate. The property in question can be mortgaged and can be owned by one or more parties. The regulations are still evolving but are always moving toward making property visa applications easier. This visa can also serve as a retirement visa in Dubai, making it a suitable option for those planning retirement planning Dubai. Previously, retirement meant a 30 day deadline to leave the country, but now, the property visa offers an alternative for those fortunate enough to own property in the UAE, allowing them to stay well into their autumn years and beyond. Viva the grey dirham.