Dubai eases rules for 2-Year property investor residency visa

ISLAMABAD: Dubai authorities have made significant changes to the rules for a two-year residency visa for property investors.

According to the new rules, the minimum property value requirement for individual investors has been relaxed. Earlier, this limit was set at 750,000 dirhams, but now this requirement has been made easier. The condition has been that the property is fully owned by one individual.

If a property is jointly owned, the value of each partner’s share must be at least 400,000 dirhams. In this case, he will be eligible for the visa.

These new guidelines have been issued by the Cube Center, an organization affiliated with the Dubai Land Department, which provides facilities for property investors.

The documents required to obtain a visa have also been clarified. These include the title deed of the Dubai property, a passport valid for at least six months, an Emirates ID, a passport-sized photograph, UAE health insurance and a police clearance certificate.

National identity cards have also been made mandatory for citizens of some countries, including Pakistan, Iran, Iraq, Libya and Afghanistan.

If the property is taken on mortgage or installments, a No Objection Certificate (NOC) from the bank or developer will also be required, which should clearly state the payment details and the remaining amount.