What is the benefit of residency in Dubai
Residency in Dubai in 2024 offers many benefits. Firstly, it allows you to live in the UAE on a permanent basis. Secondly, you can open accounts in local banks, take out loans and credit cards. Thirdly, you can buy property. Fourth, to obtain a driving licence in the Emirates and register a car. It also grants the right to work in the UAE and receive a higher level of medical care.
How to obtain residency in Dubai
Obtaining residency in Dubai involves several steps:
Work visa. Most foreigners living in the city have a work visa, which is usually arranged by their employer. It is valid for two years and can be renewed.
Starting a business. If you plan to open a business in Dubai, you can get a resident status. To do this, you will have to register a company and obtain an investor visa.
Buying a property worth more than AED 1 million also entitles you to a residency visa.
Student status. If you plan to study at a university or college in Dubai, you can also get residency.
All documents must be properly completed and authenticated. You will have to undergo a medical examination and provide fingerprints. After that, you will need to renew your residency every two years.
How much does residency in Dubai cost
The cost of residency in Dubai varies depending on the method you choose. A work visa costs around 3,000-4,000 AED (around 800-1,100 USD). If you plan to start a business, an investor visa can cost between 10,000 and 15,000 AED (2,700 to 4,000 USD) depending on various factors.
If you want to gain residency by purchasing a property, you must purchase a property worth at least AED 1 million (about 272,000 USD). The rates do not include additional costs such as medical examinations, certification of documents and other fees.
Residency status offers many opportunities and benefits. You will be able to live permanently in the UAE, open accounts in local banks, purchase property and work. Residency is a step towards a comfortable life in one of the most dynamic cities in the world.
