I'm interested in buying a property in Dubai. Because I am new in it, and I'm not from UAE, I need to know some process. I would like to ask you a few questions.
I'm coming from a country of which UAE requires a VISA.
So, I read, that if you want to buy a property in Dubai, you must have a property VISA which is given to you if you are willing to buy a property that values 1M AED.
Is this true?
What I'm wondering is, can I buy a studio or. 1 bed apartment which value is from 200K - 500K, with ordinary VISA, not property VISA? I mean like tourist visa etc.
Do I need VISA for buying a property?
I will not live in Dubai; I just want to buy property and then rent it. What can I do without property VISA, and what can I do with ordinary VISA.
Could you please clear this to me, I'm really willing to buy a property.
And another thing:
If property is freehold, and you buy it, do you own a property? Do you own an apartment and land, or just apartment? Can you sell it when you want it?
What can you do with it?
Thank you very much for your answers, and I'm looking forward to hear from you again.
Surely you have confused a few things here. Firstly you can buy a property independent of the type of visa you are using to come to UAE. So if you are visiting on a tourist visa, you can buy a property without any restrictions.
The property visa you are referring to is not the type of visa which anyone can apply for and it is actually a resident visa, which you can only apply for after you have purchased a property worth over 1 million AED. It is totally up to the buyer whether he chooses to apply for this visa or not. Point to note here is that if your property value is below 1 million then you cannot apply for residency. Furthermore this visa needs to be renewed every six months in order to keep it valid. Having mentioned this, as I said before with the tourist visa you can buy any property in any freehold area at your convenience.
Regarding your second query about the freehold property, yes you own it outright with no perks attached. If you buy an apartment then you own the apartment, similarly if you buy a villa then you own the villa and the land. With apartments you cannot own the land on the ground as it is being shared with number of other apartments. You can sell, rent out or do whatever you feel is best with your freehold property. You have total freedom over this and the law protects you in providing this freedom.
Hope this answers your query and if you need any help with making your investment decisions or any other thing then do let me know.
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