The United Arab Emirates announced the minimum requirement for obtaining a real estate residency for 5 consecutive years, as well as the requirement to obtain a tourist visa for 5 consecutive years.
The General Authority for Identity and Citizenship in the Emirates stated that there are 4 requirements that must be met in order for an expatriate to obtain a 5-year tourist visa, which are:
Bank statement for the last six months with a balance of (4000) dollars or its equivalent in foreign currencies for the past six months
Colored personal photo.
The authority also stated that this visa enables an individual to obtain entry permits for several trips for a period of five years, but provided that he remains in the country for a period not exceeding 90 days in one year.
It is worth noting that the calculation of the year (first, second, until fifth) starts from the date of the first entry to the country using this visa, and if a person wishes to extend the annual stay in the country for more than 90 days and for a period not exceeding 180 days, he can submit a request to extend the period of stay within Country.
As for obtaining the punitive residence, the authority stated that the minimum value of the property should be two million dirhams (full paid, not mortgaged), and more than one property can also be accepted under the name of the applicant, provided that the person applying is residing in the UAE This is according to Al Bayan newspaper.