Ownership Rights and Residency with Property in Dubai
with Property in Dubai
There are various ways to get a residence permit in Dubai, such as starting a business, investing, retiring or studying. Buying a property in the city is one of the most popular ways to get a residence permit. Residence permits are granted for varying periods depending on the size of the investment.
There are various property rights and types for those considering investing in real estate in Dubai. The most popular property types for international investors are:
Freehold Property: It refers to the ownership of the entire land and the structure built on it and is based on the principle of absolute ownership. This type of ownership allows investors to own property in certain areas. Those who own freehold property have the right to sell, rent or inherit the property.
With this property right;
- Both the land and the structure on it are owned.
- The ownership of the property right is indefinite.
- It is possible to make the changes you desire on your property.
Leasehold Ownership (Private Ownership): Allows the property to be rented for a certain period of time (usually up to 99 years). During this period, the right to use the property is owned, but there is no full ownership right. Most often, an apartment is owned with a leasehold. The terms and length of this type of ownership vary according to the agreement made with the property owner.
With this ownership right;
- The terms of the agreement between you and the property owner must be complied with.
- In addition to the principal paid when taking out a leasehold, a ground rent payment (ground rent) is made once a year.
- Some real estate websites may also request a service charge.
Usufruct: Grants the right to use and enjoy the property for a specified period of time, but does not transfer full ownership of the property. The holder of the bare property right does not have the right to receive income from the property, but does have the power to dispose of, sell, or transfer the property. This right of ownership is usually associated with an inheritance, donation, or estate planning process.
- Properties Granting Residence Permits: Investors who purchase a property worth a minimum of AED 1 million (UAE Dirham) can apply for residence permits.
- Residency Permits for Family Members: The property owner can also apply for residence permits for their spouse and children under the age of 18.
Title Deed: First, the official title deed of the purchased property must be obtained. This document is issued by the Dubai Land Department (DLD).
Filling Out the Application Form: The required form for the residence permit application must be filled out. This form can be obtained from the Dubai Immigration Department.
Preparation of Required Documents:
- Valid passport and copy
- Proof of ownership (Title Deed)
- Health insurance document
- Biometric information (photo and fingerprint)
- Document showing that health check has been passed
Application Submission: After all the documents are prepared, the application is submitted to the Dubai Immigration Department. During the application process, the applicant must be in Dubai.
Application Evaluation and Approval: The application is evaluated by the Dubai Immigration Department and if approved, a residence permit is issued. This process can usually take a few weeks.
Obtainment of Residence Permit: Once the residence permit is approved, the applicant is issued a residence permit card. This card grants the right to legally reside in Dubai.
Getting a Residence Permit with Tekce Visa is Very Easy!
As Tekce Visa, we provide you with professional consultancy services in the processes of owning property and obtaining a residence permit in Dubai. We are with you with our expert team to protect your property rights and complete the residence permit application process smoothly. You can benefit from our detailed information and consultancy services by contacting us.
