Can Dubai residency visa be obtained via property worth Dh800,000?

Can you clarify some questions about getting a residency visa through owning a property? If I am the first buyer of a new property and the price is about Dh800,000, can I get a residency visa? Is it a must that the current value of the property be more than Dh1 million for a visa? What if the first owner paid more than Dh1m but now in the secondary market the price is below that for a new buyer? Can they get a visa? I am looking for a property in Dubai. MK, Dubai

In all cases a property must have a value of Dh1m or more for the owner to be able to apply for a residency visa in Dubai. The rules are very strict and there is no leeway. The Dubai Land Department keeps records of property ownership and will know what was paid for a property as it must be registered on change of ownership. The price registered is the figure that will be taken into consideration if an application is made for a property-related residency visa. If, therefore, the current value or purchase price is less than Dh1m any application will be immediately rejected, based on the current rules.

Keren Bobker is an independent financial adviser with Holborn Assets in Dubai, with over 20 years’ experience. Contact her at Follow her on Twitter at @FinancialUAE

The advice provided in our columns does not constitute legal advice and is provided for information only


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