Is it possible to obtain UAE citizenship through investment?
The UAE passport is considered among the best in the world, as whoever holds it can enter more than 170 countries without a visa. But is it possible to obtain UAE citizenship by investment in Dubai?
Features of the UAE passport
As of December 2022, the UAE passport held the top spot globally, according to Arton Capital's Passport Index. 180 countries were accessible to travelers with a UAE passport; 121 of those provided visa-free travel, while 59 also provided eVisa or visa on arrival at the airport.
Following instructions from Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) recently launched the UAE Passport Force initiative with the goal of ranking the State's passport among the top five most important passports in the world by 2021.
By the Union's golden jubilee, UAE 2021 Vision wants to transform the nation into one of the best in the world. The UAE Passport Force program was started to enable citizens to access all countries without the need for pre-entry visa restrictions after it motivated the ministry to improve the State's standing in the international arena.
Is it possible to obtain UAE citizenship by investment?
When the UAE government launched the citizenship by investment program in 2021, one of the biggest developments occurred. This allowed foreigners to apply for UAE passports without having to pass through some of the most onerous conditions enforced on a global scale. Our immigration attorneys in Dubai will outline the key requirements of this new program from the standpoint that the majority of foreigners choose Dubai. Please feel free to get in touch with us if you are interested in obtaining UAE citizenship through investing.
Dubai residents can obtain a UAE passport through marriage, naturalization, descent, or extraordinary merit. Investors have the option of choosing the latter. Prior to submitting an application for citizenship, they must spend at least AED 750,000, or around $204,000, in UAE real estate to be eligible for a 2- or 10-year residency visa.
Categories of foreigners who can apply for UAE citizenship
Previously, there were only three ways to become a citizen of the UAE:
- Getting married to a UAE citizen: the marriage must, however, have lasted at least seven years in order to petition for citizenship.
- A foreign national must reside on UAE territory for 30 years or more in order to qualify for naturalization. Additionally, they must have a consistent source of income in the UAE and a spotless reputation. They must relinquish their citizenship of any other country voluntarily and speak Arabic with proficiency.
- Merits. An honor to get a UAE passport from one of the emirates' leaders happens infrequently. The UAE Government's decision has approved this technique.
Why is Dubai a good choice for a foreign investor?
Recently, a significant expat community resides in Dubai, United Arab Emirates. Among the main elements luring foreign investment are economic stability, low energy costs, a tax-free business environment, few limitations on the return of profits, and so on.
Check our guide about life in Dubai.
Residency in Dubai by real estate investment
The property purchase Residency Visa is intended for high-net-worth foreigners who want to buy a home in Dubai and become residents there. Investors can currently apply for a three-year or five-year property residency visa with the help of DLD.
As long as the property ownership is maintained in accordance with current regulations, the property owner is allowed to apply for a residency visa for himself or herself as well as his or her direct dependents (spouse and children).
Buying a property in Dubai and Residency by Imtilak Global
Imtilak Global strives to provide its clients with the greatest real estate prospects available in the Dubai real estate market. To that end, the business offers post-purchase services, including guidance on how to secure a title deed for a home and other services.
Imtilak Global provides complete services to investors looking to enter the emirate's real estate industry. Imtilak Global strives to provide its clients with the greatest real estate prospects available in the Dubai real estate market. Our services include after-sale services, including guidance on how to secure a title deed for a home and other services.
Edited by Imtilak Global ©
Do you like this topic? You can share it with your friends now