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A window for obtaining a two-year residency visa in Dubai has opened for a person who owns a property valued over Dh1 million, Emirates24|7 has learnt.
Informed sources told this website that owners of property valued over Dh1 million and having no mortgage on it can approach the Dubai Land Department with the title deed along with a passport copy and passport size photograph.
Following the payment of the fees, the Land Department will issue an approval certificate which will allow the property owner to approach the Department of Economic Development, which will then issue a trade license for a fee of Dh2,000 per year.
After receiving the trade licence, the property owner can approach the Immigration counters located in the Land Department, which will issuing a two-year investor visa.