Dubai (Monitoring Desk) The Dubai government has announced significant relaxation in property visa regulations for foreign investors, making it easier to obtain a 2-year residency visa upon purchasing property.
Under the new policy, the minimum price requirement for single ownership has been removed, allowing more individuals to benefit from this facility.
Authorities said that in case of joint ownership, a residency visa can now also be obtained, provided each investor’s share is at least 400,000 dirhams. The move aims to boost foreign investment and further strengthen the real estate market.
It has also been stated that the 2-year investor visa has been made more accessible compared to before, while conditions for other long-term visa schemes remain unchanged.
For the 5-year retirement visa, a minimum investment of 1 million dirhams and an age limit of 55 years is required, while the 10-year Golden Visa requires an investment of 2 million dirhams.
Golden Visa holders are also entitled to sponsor family members and domestic workers, and can retain their visa even while residing outside the UAE.
Experts believe that this new policy is expected to further boost Dubai’s real estate market and increase global investor interest.