Can I buy a property in Dubai if I am not a resident?

Yes, here are two of the options.

Property Investor VISA

This is a two year renewable VISA issued by the Dubai Land Department and allows you to become a UAE resident, obtain an Emirates ID, driving license and sponsor a family. You must buy a residential property worth at least Dh1 million.

Costs to acquire the Property Investor VISA are approximately Dh13,000 to Dh15,000, which includes administration fees, police clearance letter, application, typing, DED license issuance, medical test fees, stamping, Emirates ID and entry permit.

The documents required for the application include the title deed, passport copy, a good conduct certificate, bank statements, six photos and a utility bill.

5 Year Retirement Residency VISA

This option is available if you are aged 55 years or older and the VISA can be renewed ever five years. The criteria are: a) You have to be 55 years or older; b) You must have valid UAE health insurance; c) You must fulfil one of the following financial criteria: Have either Dh20,000 monthly income, Dh1m in savings or have a property worth Dh2m.

Here is a summary of four residency VISA’s open to investors.

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