Authorities in Dubai have modified the requirements for awarding the two-year property-linked residency permit, changing the standards for residency visas for real estate investors. By eliminating the minimum property value barrier for sole proprietors and easing requirements for jointly owned properties, the new laws alter the requirements for investor eligibility. The modifications were posted on the Cube Center, a company connected to the Dubai Land Department that specializes in services for real estate investors, even though no official statement has been made.
The prior Dh750,000 minimum property value criterion for individual investors has been eliminated under the updated regulation. Nonetheless, the property must belong to the applicant alone. Even if ownership is divided equally, each investor in a jointly held property must possess a portion worth at least Dh400,000 in order to be eligible to apply for a resident visa. All applicants for residency permits must include medical insurance. Family members may also be sponsored by eligible investors.
A no-objection certificate (NOC) from the bank or developer is required if the property is mortgaged or purchased under an installment plan. This document must include a proper mortgage statement, verify the exact amount paid, and show the remaining balance.
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