Have you heard about residency by investment?
This is a new socio-economic trend taking over the world. There are a lot of misconceptions surrounding the residency by investment. Some people think of it as high-risk, others think of it as exotic funds reserved for ultra-high-net-worth individuals and institutions. However, the reality is that residency by investment is simple, available and accessible to any class of individual. However, it only varies from country to country depending on local laws.
With the volatile nature of investments within the country, people are looking for profitable investment opportunities outside the country that yield guaranteed and profitable return on investment.
If you desire to expand your investment portfolio into real estate (Property) that starts yielding substantial interest/rent in about 6 months? Dubai, UAE is one of such investment havens.
Property owners can apply for and obtain residency in the UAE which makes it easier for travels without the hassles of visa queues, interviews and delays. Being a legitimate resident in the UAE will entitle you to: open a bank account, access financial facilities, apply for a driving license and many more benefits.
It is a well-known fact that Dubai has become a major gateway to the whole world. Obtaining a residency by investing in the real estate market in Dubai is worth consideration–especially for every Nigerian. It all starts with choosing the right property and purchasing it. The residency permit is not just awarded upon the purchase of any type of property, some specific criteria and requirements have been set by the Dubai Land Department (DLD) that needs to be met to qualify the property to be legible for the residency program.
“We understand that finding the right home or homes to qualify for the application process requires careful consideration and we provide hands-on support during this process. Furthermore, we provide the power of attorney if required during the residency application process as it requires several application stages and steps” says Paula Seyi-Ogedengbe the managing director of Ninu Intercontinental Investments.
Types of property accepted when submitting the Property Investment Visa application include apartments, serviced apartments, villas/townhouses, hotel apartments, hotel rooms and commercial properties such as offices and warehouses.
Property Investment Residence Visa options available are as follows:
6-month multiple entry visa: considered as a ‘tourist visa’, whereby the investor will not be granted the Emirates Identity Card (‘Emirates ID’). The value of the purchased property(ies) must be at least AED 1,000,000 (low fees and short processing time, if applying for this option).
3-Year Visa: the investor will receive all the perks of being a Resident in Dubai, such as being grated the Emirates ID. The value of the purchased property(ies) must be at least AED 1,000,000.
5-Year Visa: the investor will receive all the perks of being a Resident in Dubai, such as being grated the Emirates ID. The value of the purchased property(ies) must be at least AED 5,000,000 (the property(ies) must not under any circumstances be mortgaged).
According to the insights provided by Ninu Intercontinental Investments, the most popular and convenient residency visa their Nigerian clients enquire about is the 3-year residency that comes with AED 1 million.
Once you have purchased the property you may apply for a residence visa. This visa is renewable, as long as you still own the property and you visit the country at least once every 180 days.
Ninu Intercontinental Investments is headquartered and registered in the UK and has recently set up an office in Lekki to fully service their Nigerian client base and has provided a wide range of Nigerian HNWIs with citizenship and residency solutions. The company provides unparalleled support to its client base.
Paula Seyi-Ogedengbe is the Founder & Managing Director of Ninu Intercontinental Investments Ltd.