How to apply for residency in the UAE: residence permit when investing in real estate or business

How to become a resident of the UAE? There are 2 ways — citizenship and visa. Naturalization implies permanent residence in the country for 30 years. A comfortable option for Russians is a resident visa. Kalinka Group experts told how to get a residence permit in the UAE when investing in real estate or business.

Why is there a peak demand for real estate in the Emirates

In June 2022, the Dubai real estate market showed record figures — 9 thousand transactions. In general, the second quarter of 2022 was a record for the entire history — 25 thousand transactions (10% more than in the first quarter of 2022 and 45% more than in the same period of 2021). In total, 45,000 transactions were recorded in Dubai during these six months, which is 87% higher than the corresponding figure last year.

Investor interest from Russia is explained simply. The UAE is a friendly state, and Russians are always welcome here. In addition, the growth of the Emirates real estate market is influenced by:

• no tax on capital gains, rental income, inheritance and gift;
• 100% protection of property owners by the state supervisory authority RERA;
• rental yield is 7-8% per annum, which is 2-3 times more than in other countries;
• available investments: first payment no more than 10%, interest-free installments up to 7 years;
• obtaining a resident visa when investing in real estate from $ 205 thousand.

Investors' interest is fueled by changes in migration legislation. Since April 2022, the country's authorities have made amendments regarding the simplified system. The period of stay from 30 to 60 days has been extended for tourists. As for the "golden visa", there is no longer a maximum period of stay outside the Emirates, and the lower threshold for the cost of an object for investment has been reduced from 10 million to 2 million dirhams (544 thousand dollars).

Resident visa: what is it and what is the benefit

There is no residence permit as a term and it has been replaced by a resident visa. What it gives:

• accommodation in the UAE from six months to 10 years;
• arrival in the country at any time (but necessarily at least once every 180 days, and for 10-year visas without mandatory stay);
• visas for family members and other persons (depending on the type of visa);
• business without paying taxes;
• renting out real estate without paying personal income tax;
• access to the best medicine in the world;
• the right of admission of children to educational institutions.

There are several types in the UAE. Since we are considering only obtaining visas on the basis of investment, we will focus on this in more detail.

Visa for the purchase of real estate

When buying real estate in the UAE, Russians have the right to apply for a visa. When selling, it is canceled. But if you continue to own the object after the expiration of the visa, then it can be extended.

Resident visa when investing in a business

Russians have the right to open their own company. Further, on behalf of the organization, an application for an investor's visa to open a business is submitted in the name of its founder. Its validity period is 3 years. Then you can update. One of the conditions is to come to the country at least once every 180 days. The investor can also open sponsorship visas for family members.

How to apply for a visa

Required documents:

• international passport;
• questionnaire;
• real estate purchase and sale agreement;
• statement of the flow of funds from the bank for six months;
• receipt of payment of the fee;
• electronic photos.

All documents require notarized copies and translations into English or Arabic.

Kalinka Group experts help to save time, nerves and money. They know all the nuances, will pick up an object for investment, will be engaged in registration of a purchase and sale transaction, filing an application for a residence permit. In addition, the company has also opened a full-fledged office in Dubai.