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RESIDENCY STATUS IN THE UAE

In the UAE there is no concept of "residence permit", here it is a resident visa. It looks like a plastic card and is called Emirates ID, it is an alternative to a passport. It is convenient that after obtaining this card, you can forget about the passport - absolutely all the issues in Dubai are resolved by Emirates ID.
Today there are 2 programs for obtaining a resident visa:
With an investment of USD 205,000 or more they issue a resident visa for 2 years:
Can only sponsor wife, husband and children, no other relatives
Renewable every 2 years
Property is registered to 1 person
10-year investor visa - from USD 550,000:
Only if you have ALREADY paid USD 550,000
Ownership is in the name of 1 person
Opportunity to sponsor a family, including parents and adult children under 25 years old (provided they are unmarried)
What opportunities the Emirates resident visa provides:
- Open an account with a local bank as well as with Western banks, brokerage companies or cryptocurrency exchanges (for example, since 2022 for Russians there is a risk of forced closure of accounts in Interactive Brokers or Binance, but with Emirates ID this issue is resolved)
- Take out a mortgage from a local bank
- Apply for Schengen, American, British and other visas in Dubai
- Negotiate a longer-term lease with more favourable terms than a short- or medium-term contract.
- Get local medical insurance and get treated here
- Get a local driver's license and buy a car
- Pay 0% income tax

The duration of an investor visa for the purchase of real estate depends on the amount invested:
- Emirates ID for 2 years is issued with a deposit of $205k or more
- "Golden Visa" for 10 years is issued at the investment of 545 000 $
❗️Investor can extend the visa an unlimited number of times, if the property remains in ownership. Plus, instead of the main applicant, family members will be able to get a visa for a commensurate period of time
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