Host
There’s just so much more to hear. Download our podcasts at DubaiI1038.com.We’re now on for the next 40 minutes—slightly under an hour today. We’re going to be talking essentially about property when we get to it. But first, let me ask you about this, Ludmila. Not a proclamation, not a declaration, but you’ve had some news from the Land Department today. This is interesting.
لودميلا يامالوفا
Indeed. Let me give you a little bit of background because it still surprises me how few people actually know about this. This pertains to Dubai and, in particular, the ability of property owners to apply for a UAE residence visa.
This UAE residence visa is linked to the ownership of real estate and is different from what many believe is a six-month entry permit. These two are very different. In Dubai, it is possible for those who own properties meeting specific requirements to apply for a UAE residence visa.
Host
That’s fascinating. How long has this been around?
لودميلا يامالوفا
This option has been available for about three years. However, it seems that only a resourceful few find the list of requirements, including applicable fees. It’s often referred to as an “investor visa,” though technically, it’s not called that.
The visa is connected to an investment license, issued by the Department of Economic Development (DED), based on property ownership. However, the rules occasionally change, and these amendments are not always publicly announced.
Host
Can you tell us about the latest changes?
لودميلا يامالوفا
Yes, and this is critical for listeners. Recently, we learned that only certain types of properties are now eligible for the UAE residence visa under the investor category. Specifically, the property must be purchased. Properties transferred as a gift or inherited do not qualify.
This is a new limitation that surprised even us because it wasn’t previously in the circulated regulations. For example, if a father gifts his property to his son, the son cannot use that property to apply for a residence visa.
Host
That’s quite a significant change. What advice would you give to those planning to apply for such visas?
لودميلا يامالوفا
Always confirm the current requirements before proceeding. The UAE is a rapidly evolving jurisdiction, and such changes are frequent. It’s essential to stay updated or work with a lawyer who will keep track of these developments for you.
Host
Fair point. We’ve received a question: “What if you sell one property and purchase another? Does that count as a purchase for visa eligibility?”
لودميلا يامالوفا
Yes, that would qualify as a purchase. However, if you acquire the property as a gift or inheritance, it won’t count. This likely relates to the gift tax, which is only 0.125% compared to the standard 4% registration fee. The government may be trying to close loopholes that allow people to avoid paying the full registration fee while still claiming visa benefits.
Host
What if someone tries to transfer property to a relative by selling it at a nominal price?
لودميلا يامالوفا
In theory, this could work. But in practice, the Land Department assigns its own market value to properties. Even if the transaction lists a nominal price, the government will calculate the 4% fee based on the property’s assessed market value.
Host
Another listener asks, “Can you get the visa if the property is mortgaged?”
لودميلا يامالوفا
Yes, but the mortgage must be paid off at least 50% of the property’s value. Additionally, the property’s current market value—assessed by the Land Department—must be at least AED 1 million.
Host
That’s good to know. Another question: “What happens if property values drop below AED 1 million after purchase?”
لودميلا يامالوفا
The Land Department relies on its database to determine market value, not current market fluctuations. However, if you purchased a property for over AED 1 million and its value has since dropped, you may face challenges securing the visa.
Host
Interesting insights. Let’s take one more question: “What happens if a property owner passes away and leaves the property to a family member in their will? Can the inheritor apply for the visa?”
لودميلا يامالوفا
The inheritor would need to restructure the transaction as a purchase and pay the 4% registration fee. As it stands, inherited properties are excluded from the investor visa. However, this limitation could be revisited or updated by authorities in the future.
Host
Thanks, Ludmila. This has been incredibly insightful. We’ll hold additional questions for next time.
لودميلا يامالوفا
Thank you. Always a pleasure to share these updates.
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