Looking for a Dubai resident permit?
What requirements must a resident visa have? What are the rules and regulations? The above-mentioned questions are some of the frequently asked FAQs by property owners. Although Dubai offers different types of resident visas, focusing on the concerned visa we’ll explain the Dubai property visa. The requirements and specifications for receiving a real estate visa are listed below.
A realtor visa includes communications with the Dubai Land Department (DLD). The Department of Land issues a real estate visa that has a four-year renewal requirement. A new visa must be obtained every two years.
Rules & Restrictions For Property Visa
A Residence visa is provided by the government to property owners in UAE. Certain regulations state if a property is worth AED 1,000,000 or more, the individual should be granted a residence visa for two years, but this is subject to the rules of immigration, which can change at any time.
- Owned or Rented
The majority of properties are freehold however, some properties in Dubai have a 30-99 year leasehold.
- Official Taxes
Although, there are no government taxes included in buying a property, however, to register the property the buyer must pay 4% to the land department following the purchase price of the property. In the case of the mortgaged property, the Dubai Land Department requires a registration fee of 0.25% of the mortgage value.
- Charges Involves
Dubai Land Department charges a 4% transfer fee for registering a new property owner.
- If you’re buying a mortgaged property, you must also pay a 0.25% mortgage registration fee to the Dubai Land Department and the Developer to register your loan in their name.
- You must pay a service maintenance charge to the seller as a percentage of the property price from the time of the property’s handover to the buyer until the end of the service maintenance period.
- The developer no objection certificate charge is capped at AED 5,000 by the Dubai Land Department.
- The registration trustees charge AED 4,000 for ready properties with a title deed and AED 5,000 for off-plan properties