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According to my knowledge, Residency visas are issued only for three years. If you buy a property worth AED 1million in Dubai. you are given the muti-entry visa for 3 years named as 'Residency Visa'.
This residency visa is renewable after 3 years and the requirement of entry and exit is compulsory for its renewal.
In order to obtain this visa, your income must be over AED 10,000 provided that the income is not earned in Dubai.
As your desired property is worth more than AED 1 million, if you buy it, you can also apply for the muti-entry visa meant for foreigners in Dubai.
If you have anything else to ask, please feel free to ask anytime
As Madiha has mentioned that you need to buy Dubai property worth AED 1 million then you can apply for resident visa. Buying property in Dubai entitles you, and your immediate family, to residence visas in accordance with the latest immigration regulations.If you have already secured employment before moving to Dubai your employer should take care of the process of acquiring a work permit and Dubai visa.
There are other ways as well to get a residency visa. However, I want to add that if you just have resident visa based on property then you must have work permit as well otherwise, your activities will be restricted in Dubai. Before being granted a residence visa, and establishing your Dubai home, all applicants are required to undergo a medical and obtain a health card, which must be renewed yearly.
