Right now Dubai is a hot spot for investors. People with money from all over the globe are looking to find the right opportunity to invest in the Dubai real estate market. The right investment in the UAE can appreciate your assets while securing your visa ownership.
As Dubai real estate gives you high returns on investment, look for houses for sale in Dubai. Investing in property can make you qualify for the golden visa. Golden Visa can get you long-term residency in the UAE.
Process Of Obtaining the Golden Visa Through Real Estate Investment
Well, to obtain a golden visa, one clever strategy is investing in Dubai. To reach that threshold, you can buy a house. There is a whole process involved and you have to understand it completely before making the right purchase. Here is a process to follow.
Selecting the Right Property
To start, you should select the right property and the qualities for the required investment criteria. You can either select a complete or under-construction property. Sometimes you can buy property even before the construction starts based on its future promising value. Buy this property from a DLD-registered developer.
Prepare Documentation
To buy your desired property, you will need completed documentation. These documents include
- purchase agreement
- title deed (if applicable), and
- Proof of payment.
Submit an Application
You have to apply through the Dubai Land Department or the General Directorate of Residency and Foreign Affairs. Submit your application with completed documents for further processing.
Undergo Health Screening Process
This is for the visa process. Applicants have to go through medical tests. They have to be in good health and must not have terminal illnesses or contagious diseases.
Pay Fees & Receive a Visa on arrival.
Well, after everything is clear and approved, now you can pay the necessary fees and obtain your residency visa.
This whole process is much faster and takes only a few weeks. So within months, you can be a UAE resident with a golden visa.
Investing in Dubai Real Estate?
One might wonder why Dubai Real estate is a worthy investment. Here are all the reasons
- It gives you insanely high returns on rent. One property can give 6%-8% profit. This is better than most global markets like London, New York, or Hong Kong.
- The Dubai investment market is secure and stable as compared to other fluctuating markets. There are Policies like 100% foreign ownership, zero property tax, and a stable regulatory environment.
- You can have many property options. From waterfront properties to luxury villas, investors can choose from a range of properties that suit their needs.
- Dubai’s economy is on boom. There is continuous growth in tourism, technology, and trade. This is increasing property demand.
- In Dubai, there is no tax deduction on rental income or profit. This improves your profit rates.
- Well, who doesn’t want to buy in Dubai? You get to enjoy a luxurious life, scenic views and a golden visa too.
Dubai Golden Visa, Who Can Apply and Benefits
To live in Dubai for the long term, you need a golden visa. It allows you to be a Dubai resident for 5 -10 years. Usually, the UAE government gives this visa to industry experts, field professionals, or high-end investors. The goal is to facilitate both ways: Dubai benefits from their expertise or money, and people enjoy Dubai life without any visa hassles.
The Visa is available to:
- Real estate investors who meet the required investment criteria.
- Entrepreneurs and business owners
- Skilled professionals like doctors, engineers, researchers, etc.
- Students who are exceptional in their studies
- Talented Individuals like artists, performers and innovators.
The Benefits of the Golden Visa include
- It is easy to renew and gives you long-term residency for 5-10 years.
- You don’t need a local to sponsor your visa.
- Investors can sponsor their spouses, children, and household staff.
- You can enjoy the freedom to live and work in Dubai.
Which property is better? Completed or Off-Plan?
In Dubai, one can buy completed, under-construction, or before-construction properties. But which one is better for investment?
Off-plan properties which are under construction or yet to be constructed are
- Lower in prices than ready properties.
- Have flexible payment plans where you can pay in installments instead of upfront.
- They have high appreciation potential.
However,
- There are some risks of delays. You may get the final product later than expected. That is why we suggest always buying from DLD-approved developers.
Completed Properties which are Ready-to-move-in
- Can give rental income right away.
- There is no delay. You know what you are buying.
- They need full upfront payment.
So if you’re looking for future appreciation, you should pick off-plan property. However, if you want immediate returns, go for a completed property or house for sale in Dubai.
Some Best Areas to Buy Property in Dubai for Investment
- To buy luxury properties, consider Downtown Dubai. These properties give iconic Burj Khalifa views and have high rental demand.
- For luxury waterfront villas and apartments, consider buying in Palm Jumeirah.
- If you are a business professional, consider Dubai Marina.
- For affordable investments, Jumeirah Village Circle is the best and has high rental demand.
- Dubailand is the perfect choice if you are looking for new developments with affordable villas and apartments.
- For rental profits consider areas like Business Bay and Dubai Creek Harbour.
Additional Costs & Fees of Buying Houses For Sale in Dubai
Apart from property price, there are a few other costs too. Keep them in mind to avoid problems. Investors should budget for:
- DLD registration fee which is 4% of the property value.
- 1-2% agency commission.
- Service charges like maintenance fees.
Conclusion
If you get the option to buy homes for sale in Dubai, don’t miss the opportunity. With the right investment approach, you can benefit in multiple ways. Not only will you get an asset to your name in a highly demanded city but also the chance to get profits and a golden visa for Dubai.
