UAE: obtaining residence permit and real estate crowdfunding
October 2, 2024
Today, many countries offer various immigration programs: for investments, for financially independent persons, for the purchase of real estate and others. Because of sanctions restrictions, Russians are often refused even if they have correctly filled in and submitted documents and have a good financial situation. Do not despair - registration of an intermediate UAE residence permit will close this issue.
UAE resident visa is one of the fastest ways to get a residence permit in another country. If you compare it with the registration of residence permits in Europe or the Caribbean, where it takes 6-8 months to apply for and obtain a residence permit, in the UAE the term of registration of a resident visa (including company registration) will take up to 5 weeks. It will take about 10 days to obtain an Emirates ID.
It is not surprising that with such efficiency the Emirates became the top country in terms of the number of Russian citizens who arrived for residence permits and permanent residence last year. The UAE resident visa is available not only to investors ready to invest in local business or buy luxury real estate, but also to other categories of foreign residents.
On what grounds it is possible to obtain a UAE resident visa (analogous to residence permit in other countries) in 2023:
- Official employment in a local company with a contract.
- Work under a freelancer's license - suitable for IT specialists, web designers, athletes whose monthly income exceeds $ 5000. With such a license you can legally work in any of the emirates and get a resident visa.
- Studying at a local university allows you to apply for a student visa.
- Resident visa for retirees can be obtained by wealthy people aged 55 years and older, who meet at least one of the conditions: income is not less than $ 4100, placement in bank accounts in the UAE at least $ 275,000 for a period of 3 years or the purchase of real estate in the Emirates in the amount of $ 275,000. Pensioner visa is issued for 5 years.
- For the purchase of real estate in the amount of 750 000 AED the owner can get a visa for 2 years, for the amount of 2 million AED - for a period of 10 years.
Important: A resident visa can be extended an infinite number of times. It is allowed to stay in the UAE for up to 90 days without a visa - this period is enough to obtain a residence permit, necessary documents, driver's license and related permits.
Advantages of registration of residence permits of other countries for residents of the UAE
UAE residence permit provides holders with many advantages: optimization of taxation, favorable conditions for doing business (the ability to accelerate the transfer of business to the UAE from another country), a high standard of living, access to quality medicine and education. No wonder that the privileges, combined with fast visa processing times, make the UAE such a desirable destination.
If you do not plan to live here for a long time, but consider the Emirates as an intermediate stage, UAE residency also gives you some privileges when applying for a residence permit for European countries and the Caribbean:
- You can apply for citizenship / residence permits and visas without leaving Dubai. You will not need to travel to the country of your choice to apply for documents and visas, which saves money and time!
- Accelerated procedure of residence permit and citizenship with UAE residency. Another important bonus for UAE residence permit holders is the ability to obtain the desired status in another country faster than regular applicants.
If you need assistance in collection, execution and transfer of documents, services in selection of real estate from proven developers and agencies, contact a licensed agency GARANT.IN. Our office is located in Dubai, where you can come with a personal inquiry. Our staff will develop an effective strategy that will allow the customer to receive all services in full in a short time.
Top 3 countries where you can get an accelerated residence permit for UAE residents
If you are planning to relocate from the UAE to another country, we suggest you to familiarize yourself with the rates and processing time for different countries:
RESIDENCE PERMIT FOR FRANCE
Timeline: 2 months.
Cost from €18,500.
At the first stage the applicant will receive a long-term visa D for 1 year. You can apply for a residence permit after 5 years. A residence permit can be issued for a period of 5 to 10 years, depending on the category chosen by the applicant.
To apply for a residence permit it is important to have housing in France (personal or rented), a monthly income of at least 2000 € per person, age over 18 years and no problems with the law.
ITALIAN RESIDENCE PERMIT
Terms: 2-3 months.
Cost from €20,500.
Italian residence permit can be obtained only in Italy itself, but a special visa D, on the basis of which you can apply for a residence permit, can be issued remotely. Visa D is divided into categories that coincide with the types of residence permits. A particular D visa entitles you to apply for a residence permit only for the corresponding type of residence permit.
To apply for a residence permit the advantage will be the availability of housing in Italy (personal or rented), a monthly income of at least 2000 € per person, age over 18 years and no problems with the law. Knowledge of the Italian language is optional.
GRENADIAN CITIZENSHIP
Cost from € 150,000.
Timeline: 6-8 months.
Unlike the residence permits of the above countries, Grenada citizenship can be obtained through investment. It is important that the applicant can only apply through a licensed agent. No language or history test is required to obtain a second passport. ”
It is important to be an adult citizen with no legal problems and to pass a Due Diligence check. The authorities in Grenada are scrupulous in vetting each applicant.
Whether you need assistance in applying for a residence permit for any country or an initial consultation to understand what type of residence permit/citizenship is ideal for your situation, we are happy to help. Long years of work in the field of immigration investment, high qualification - all this allows us to quickly create an effective step-by-step action plan for any client. Don't waste precious time in vain, seek help from experts in your field.
Real estate crowdfunding in the UAE as a tool for investing in public and private sector properties
Equity acquisition of real estate in Dubai for large-scale financial projects. How do crowdfunding platforms help entrepreneurs realize innovative business ideas?
Buying real estate in Dubai implies large financial investments. In terms of investment, this city is considered one of the most attractive and promising destinations. Therefore, companies specializing in real estate crowdfunding offer investors an alternative way to purchase real estate in different Dubai neighborhoods - shared ownership.
What are crowdfunding and crowdinginvesting?
” Crowdinvesting as well as crowdfunding are two related terms in the field of investing with a few fundamental differences. In real estate, financing strategies involve capital investments in which investors do not need to purchase properties for the full multi-million dollar cost. With minimal financing, all shareholders receive equal ownership rights.
Experts estimate that in 2022 there is a trend of growing interest in an alternative way of acquiring real estate in Dubai due to the growth of rental prices of properties and their market value in general. The innovative instrument not just provides micro investors with property rights, but also offers lucrative assets with high returns. ”
Crowdinvesting is a type of crowdfunding, which is a successful solution for non-large enterprises that do not have a sufficient credit history to obtain bank loans or attract venture capitalists for their projects. Participants of investment campaigns can expect to receive ownership shares along with all the bonuses and risks. However, compared to crowdfunding platforms, investors here are offered higher rates to participate in the project.
Online platforms, or otherwise crowdfunding platforms, invite micro-investors to co-invest in large commercial or residential real estate deals. At the same time, investments in Dubai real estate can start from a minimal amount. For example, SmartCrowd, the largest platform in the Middle East, has set an initial investment threshold of only 500 AED (about 10,000 rubles) in 2021.
Individuals may participate in the investment campaign in order to receive monthly income from real estate on a regular basis. At the same time, the value of each owner's share may gradually increase.
On average, the realization of the investment strategy is designed for at least 3 years.
Among a wide range of offers, investors usually choose the most profitable asset.
The initial investment threshold depends on the level of security of the investor. Investors with medium, high and ultra-high capital can participate.
The government of Dubai issues investors documents on the right of shared ownership.
This way of investing is considered to be absolutely legal in the country and is regulated by the Dubai Financial Services Authority (DFSA).
Benefits for investors
Investing in real estate in Dubai attracts investors from all over the world with its profitability. After the coronavirus pandemic, the market is actively recovering and growing, creating a favorable environment for those wishing to increase the amount of their investment. In addition, crowdfunding has other advantages.
An investor can sell his share at any time.
As an owner, owners have the right to rent out the acquired real estate, increasing its profitability.
Crowdfunding provides an opportunity to purchase real estate in Dubai, avoiding the study of all the intricacies of the country's legislation on major real estate transactions.
Wealthy foreigners prefer to invest in projects in Dubai, because this city is characterized by a developed infrastructure, virtually 0% crime, a wide range of real estate of any segment.
Are you ready to start investing in real estate in Dubai? GARANT.in experts will help you to choose the most optimal strategy to get passive income from your investments without unnecessary hassle.