Golden city Dubai just made it easier – and more affordable – for property investors to apply for a residence visa in the city. Under the new, relaxed limit, investors who buy a Dubai home worth Dh750,000 (Dh204,000) qualify for a three-year investor visa. The new limit is 25 per cent lower than the previous minimum value of Dh1 million.

Dubai Land Department’s popular Taskeen Programme now allows real estate investors who own a property valued at Dh750,000 or more at the time of purchase to apply for a three-year renewable residence visa. The visa also allows investors to sponsor their family (spouse and children).

Dubai has recently taken several steps to allow foreigners to plan a longer term stay in the UAE, including relaxing requirements for golden and silver visas and expanding the qualifying base for such long-term immigration contracts.

1. What is Dubai Land Department’s popular Taskeen Programme?

2. What are the terms of the Taskeen Programme?

3. Can an investor sponsor her/his parents under this programme?

4. What is the cost of a 3-year investor visa under the Taskeen Programme?

1. What is Dubai Land Department’s popular Taskeen Programme?

This service allows a real estate investor who owns a Dubai property valued at Dh750,000 or more at the time of purchase to apply for a three-year renewable residency visa, and the husband or wife and children can be sponsored.

2. What are the terms of the Taskeen Programme?

An investor should buy a Dubai property worth at least Dh750,000 to qualify for the Taskeen Programme. Properties under bank mortgage may be considered provided the investor has paid at least Dh750,000 or 50 per cent of the property’s value to the bank. In this case, the investor must get the bank’s No-Objection Certificate in Arabic along with a mortgage statement to apply for the visa. Joint property ownership (husband and wife) can be considered provided the value of the property is Dh750,000 or more. In this case, proof of marriage (a duly attested marriage certificate) must accompany the visa application.

3. Can an investor sponsor her/his parents under this programme?

Yes. Citizens of Iran, Pakistan, Iraq, Libya and Afghanistan need a National ID.

4. What is the cost of a 3-year investor visa under the Taskeen Programme?

• The service fee for a three-year Investor Visa under the Taskeen programme is Dh14,967 for the investor.
• A male investor may sponsor his wife for a fee of Dh7,061.25 for a three-year visa.
• A female investor may sponsor her husband for a fee of Dh5,821.25 for a one-year visa.
• Children under 18 can be sponsored for a fee of Dh6,361.25 for a three-year visa.
• The fee to sponsor a daughter who is over 18 years is Dh7,061.25 for a three-year visa.
• A son over 18 years can be sponsored for a one-year visa for a fee of Dh5,821.25.
• Parents can be sponsored for a fee of Dh6,821.25 for a one-year visa.

Dubai property prices: Up, up…

After a brief hiatus, investors seem to be flooding back into Dubai’s property market. The UAE leads the world in terms of vaccine doses per 100 residents, boosting consumer confidence in the economy. The previous three months have seen robust demand, signalling a V-shaped recovery of the Dubai property market.

Best for investors

Dubai is now ranked among the world’s best cities for investor visas. Henley & Partners’ Best Residence-by-Investment Cities for Business Index ranks Dubai at No. 11 out of the world’s top 25 cities for their Residence-by-Investment (RBI) programmes. Experts and analysts cite several reasons for Dubai to have outshone other cities, especially in the post-pandemic paradigm.

Dubai’s zero income tax and notable tax incentives for businesses, its success in controlling the pandemic and countering its economic fallout, along with its world-class physical and digital infrastructure make it a strong magnet for businesses, professionals and well-heeled individuals.

The United Nations Office for Disaster Risk Reduction (UNDRR) has named Dubai as a ‘Role Model City’ under its MCR (Making Cities Resilient) campaign for being a smart, sustainable, and resilient city.

UAE Golden Visa Programme

The UAE aims to attract exceptional minds and talent to be permanent partners in the country’s development process. The country offers long-term golden visas to property investors, scientists, medical professionals, entrepreneurs as well as to outstanding school pupils and high-scoring university students.

The UAE Golden Visa scheme is essentially a long-term residence visa for the UAE.

It is offered to investors, entrepreneurs, people with specialised talent and researchers in the fields of science, culture and art as well as promising students. In addition to the Golden Visa, the Retire in Dubai visa programme, launched in 2020, allows eligible applicants to apply for a long-term UAE retirement visa.