Having a home of your own is a dream that perhaps all of us share. We all wish to have our own home in the beautiful city of our choice.
Dubai is indeed one such city, where a lot of people plan to settle. With lucrative opportunities for entrepreneurs, students, and Healthcare and IT workers, Dubai is indeed becoming a favorite destination.
However, one might have several doubts before moving to such a big city. The compliances and permits are a major part of whether you can settle here or not.
In this article, we would explore whether you can rent an apartment in Dubai without residency and also learn about the factors you should keep in mind.
Can You Rent an Apartment in Dubai Without Residency?
You should note that if you wish to rent an apartment in Dubai, you require a Residence Visa and it is thus obvious that only the residents of Dubai are allowed to rent an apartment.
A tourist visa is only permitted to travel and sightseeing including a shorter stay. While a residence visa opens the chance of leasing a property in Dubai and staying for a relatively long period.
You might be required to show your passport, contract of employment, and bank records before you look for renting an apartment with the help of a residence visa.
The good thing about Dubai is that there are several categories for availing the residence visa – namely investors, professionals, remote employees, students, etc.
However, these visas are subject to expire depending on the category you select and you might be required to reappear and furnish the documents again to renew them periodically.
One of the biggest benefits one avail with the help of a residence ID is the facility of Emirates ID with which you can rent a property.
Apart from the categories mentioned above, you can also avail of a real estate or retirement visa, which are although costlier options have a more streamlined approach to consider.
How Can You Get a Residency in Dubai?
Residency is vital when renting an apartment in Dubai. Fortunately, UAE, including Dubai, has various visa options to offer flexibility to people planning to visit or reside in Dubai.
People can also get residency, including remote workers, students, investors, and professionals. Its multi-year program allows people to sponsor their immediate family members in the program.
Various benefits come with residency for as long as it is valid. They include;
- Applying for an Emirates ID card
- Renting a property
- Opening a Dubai bank account
- Getting a driving license
So, let’s see how you can obtain it. There are several options, including the following;
Retirement Visa
If you plan to live in this city after retirement, a retirement visa helps you acquire residency. Its validity lasts 5 years, but you can renew it once the period lapses.
The requirements of getting this Visa are savings of at least $300000 and investment worth not less than double that, $600000. You should also have proof of income; the monthly amount should be at least $5000.
Remote Work Visa
Remote workers can also get residency through a remote work visa. To get the Visa, your monthly earnings should be at least $5000.
The contract with your employers living abroad should last at least a year. Submission of a bank statement showing transactions for the past 3 months is equally important.
Real Estate Visa
It is applicable for property or real estate owners in Dubai. However, the value of your property should be around $280000.
The good thing about this Visa is it allows you to sponsor your immediate family members.
Student Visa
Enrol in a university or college in Dubai and get a residency. However, students below 18 years don’t enjoy this privilege.
In this case, your resident visa is only valid for a year. Upon proof that you will continue studying in the city, you can renew the Visa.
If by the time you graduate, you have a GPA of 3.75, you can earn yourself a Golden Visa.
Investor Visa
This opportunity helps entrepreneurs get a chance to get residency. It applies when considering investing in the city.
However, not all investors can get an investor visa. To be eligible, the investment should be equal to or greater than $20000.
Interestingly, this Visa falls under the Golden Visa category. It means that you can enjoy a long-term residency with it.
Employment Visa
Acquiring an employment visa is a step closer to getting a residence. Your employer employs you and also sponsors the Visa, Employee Entry Visa.
Besides an employment visa, the company is obliged to process your work permit. Once settled, your employer can go ahead and sponsor your residence visa.
People who achieve residency through this route can also sponsor their family members. Unfortunately, workers whose salary is less than $1000 lack the privilege.
Which Documents Do You Need to Rent an Apartment in Dubai?
If you have relocated to Dubai and plan to rent an apartment, you must prove residency. To do so, ensure that you have the following documents;
- An Emirates ID card that’s valid
- A residence visa that’s also valid
- Bank statement
- Work contract
- Passport
The Emirate ID is vital for anyone looking for a long-term lease. However, few exceptions exist, but not all landlords will respect them.
That’s where your employer comes in. Employers can give you something to prove that your Visa processing and in progress, and that works most of the time.
On the other hand, these documents are unnecessary when renting holiday homes and hotel apartments, among other similar premises. Whereas they are unnecessary, you must provide a copy of your valid passport.
What Is a Golden Visa?
One can’t talk about residency in Dubai without mentioning Golden Visa. It is a way of UAE persuading entrepreneurs, talents, and investors to consider it for their investment ventures.
However, not everyone is eligible for the future. Ensure you meet the following conditions to qualify;
- The foreign investor must have a public investment worth at least $2.7 million.
- At least 60% of it should be in the real estate industry
- The investment should have existed in UAE for at least 3 years
Alternatively, you can fall under specialized talents in sciences and arts fields. Excellent examples of such talents qualifying for the Golden Visa include the following;
- Creatives
- Doctors
- Scientists
You also need the Emirates Scientists Council’s accreditation if you are a scientist. On the other hand, creative talents should get them from the Ministry of Culture and Youth.
The Visa comes at a cost since you pay $350 for a validity period of 5 years and $700 if you want a ten-year Golden Visa. There are no additional fees upon paying the amount.
If you are wondering whether it is worth it, here are the pecks;
- You can fully own an investment or business in its Mainland
- You are also free to study, live or work in Dubai for a long time
- The Visa comes with ample security that enables you to invest in the city without any fear
- One doesn’t struggle to renew the Visa since the process is automatic, and no need to do it frequently
Its application is online, and you can apply as soon as you meet the requirements. It takes at most a month to process it.
Communication about its approval is done via email. That’s also how you submit any relevant document.
How Is It Living in Dubai?
Dubai is a beautiful city located in the UAE (United Arab Emirates). It boasts several great artificially built structures and business hubs and is a famous city globally.
People often look to visit Dubai in one of their travel plans or wish to move here to look for better job opportunities.
Be it for any reason, it cannot be denied that Dubai is one of the most favored places to reside in and people love coming here.
Living in Dubai can be a great experience, especially if you are moving here from an expensive country – you would love living here.
Living in Dubai means constantly being exposed to some of the best global job opportunities and a chance to enjoy the great connectivity with which you can travel to any place within a few hours.
Additionally, if you are habitual of a strict tax regime in your country, Dubai would be a boon for you.
This is because Dubai does not impose taxes on the income earned here and the standard of living here is naturally quite high.
Apart from all these, it is well known that in Dubai you get the best of everything – be it the medical facilities, education, and technology, Dubai is truly a city that is way ahead of its time.
The social life here is also unmatched. This is because Dubai is home to a lot of millionaires and people with culture and taste.
It is common to find some of the best restaurants, adventure parks, and shopping centers here. Additionally, the cost of commuting and local transport is also relatively less compared to other Tier A cities in the world.
Factors to Keep in Mind Before Renting an Apartment in Dubai
Locality
One of the most important factors to consider before finding accommodation in Dubai for renting or leasing is the locality.
Several great places in Dubai are considered among the best places to stay if you have a decent income and want to opt for a comfortable life.
These include Dubai Marina, Palm Jumeirah, Al Furjan, Dubai Hills, Downtown, etc.
Apart from these slightly expensive places, you can also look for condos or studio apartments that are more in number in the central city area.
Government Regulations
This is perhaps the most crucial step, without which even though you might have the appropriate funds, you would not be able to avail of an apartment in Dubai.
You must be well versed with the local rules and regulations and be prepared with all your identification and financial records before you rent an apartment in Dubai.
You can also consider hiring an agent for this purpose if you feel you are not able to handle these things. The agent is easily available these days and you can ensure they are authentic by checking whether they are licensed by the government or not.
Cost and Fund Management
Another crucial step is to ensure that you have enough money and a good credit score. Dubai has a strict policy about these things and it would be tough to get an apartment without proper financial records and funds.
You must secure the funds and have a good track record with your bank and financial statements beforehand.
