Getting a residence permit in the UAE when buying real estate

One of the options for legalization in the United Arab Emirates is to purchase real estate in this country. It is about the possibility of various “scenarios” – both real estate for your own residence and for renting it out. If you need detailed advice or legal support in this matter, the lawyers of Prikhodko & Partners Law Firm will be happy to help you. We regularly support such client requests, so we know how to help efficiently and effectively.

Why do people choose the UAE as a country to live in?

Despite the fact that Ukrainians and natives of the UAE are very different in terms of cultural traditions, the country is currently quite open when it comes to the diversity of traditions. Therefore, a significant number of people from different parts of the world are trying to purchase real estate in the UAE to obtain a residence permit.

Additional reasons worth noting include:

1. constant economic growth and favorable conditions for doing business;
2. a high level of medicine, as the UAE has the world’s largest number of hospitals that have the international JCI certificate;
3. a well-developed transportation system – for example, in the 2019 World Economic Forum report, the roads in the UAE were recognized as the best in the world.

That is why obtaining a residence permit in the United Arab Emirates through the purchase of real estate is a common and popular option. This method of legalization in this country allows you to obtain a residence permit not only in case of purchasing real estate for yourself, but also in a situation where a person plans to rent out real estate.

The second of these options is advisable in cases where there are plans to receive passive income from rent. In this case, you should pay special attention to the city of Dubai. It is there that rent is the most expensive.

So, let’s take a closer look at how to obtain a residence permit in the United Arab Emirates.

Residence permit in the UAE through the purchase of real estate

To obtain a residence permit for 3 years, the cost of the purchased real estate must be 1 million dirhams, which is about 270 thousand US dollars. If you want to obtain a residence permit for 5 years, you need to purchase a property worth 5 million dirhams or more, which is equivalent to about USD 1,361,300. If the applicant wishes to apply for a residence permit in the Emirates for 10 years, this is available for the purchase of real estate from AED 10 million.

The key aspect when buying real estate in the UAE is to confirm a legal income of 10 thousand dirhams or 2700 US dollars per month.

What are the benefits of having a residence permit in the UAE?

So, among the advantages of permanent residence in the United Arab Emirates are

• the opportunity to legally reside in this country;
• the ability to open bank accounts;
• obtaining a driver’s license in the UAE;
• the right to apply to state authorities;
• free rental housing.

The benefits do not end there. The main applicant’s family can move in with him. They also have the right to obtain tax residency in the UAE. If you look at these factors in conjunction with everything that has already been mentioned regarding the advantages of this country, it becomes clear why a residence permit in the UAE is of such interest to many people who are considering purchasing real estate.

Why should you contact us?

The team of Prikhodko & Partners Law Firm is engaged in supporting inquiries related to the purchase of real estate in the UAE and obtaining a residence permit in this country. We are well aware of the peculiarities of the legal framework of the United Arab Emirates in this matter. Therefore, you can get high-quality and comprehensive advice on the selection of real estate for purchase.

We also provide other services, including

• advice on the required list of documents for a residence permit
• assistance in preparing documents for obtaining a residence permit;
• further support in the preparation of documents in the UAE.

Contact us and we will help you, taking into account your wishes and prospects for obtaining a residence permit in the United Arab Emirates on the basis of the purchase of real estate in this country. Legal support from professional lawyers will help to simplify the entire process.