I am leaving the UAE for a job abroad. As I have a property in the UAE, what are the possibilities of a residency visa for property owners/investors? SA, Abu Dhabi
To obtain a residency visa in connection with property ownership, the individual must own a property that has a minimum value of at least Dh1 million, a regular income equivalent to Dh10,000 per month and the property must be habitable. My understanding is that the income can be from any source, either in the UAE or overseas, but must be verifiable. Proper medical insurance must also be in place. Visas are valid for a period of six months only, then must be renewed. But the good news is that the cost has just been reduced from Dh2,000 to Dh1,100. In Abu Dhabi the body responsible for visas is the General Directorate of Residence and Foreigner Affairs – Abu Dhabi (GDRFA). A property related residency visa is available only to non-working investors, but someone with this visa can sponsor family members.
Keren Bobker is an independent financial adviser with Holborn Assets in Dubai, with more than 20 years’ experience. Contact her firstname.lastname@example.org. Follow her on Twitter at @FinancialUAE
The advice provided in our columns does not constitute legal advice and is provided for information only. Readers are encouraged to seek appropriate independent legal advice
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