In a recent development, the United Arab Emirates (UAE) has rolled out new rules regarding its Golden Visa program, making it even more enticing for investors eyeing the vibrant real estate market in Dubai. Under these updated regulations, individuals can obtain a UAE Golden Visa through property investment with a reduced minimum investment limit of AED 2 million. Notably, there are no restrictions on whether the property is purchased through a mortgage, cash, or off-plan, opening doors for a wider range of investors.
How to Apply for a UAE Golden Visa?
The Dubai Land Department (DLD) has outlined a comprehensive procedure for applying for the UAE 10-year residency through property investments. To qualify for this long-term Golden Visa, investors need to meet certain criteria:
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Property Investment: Investors must purchase a property (off-plan properties) in Dubai worth a minimum of AED 2 million. This investment can be in the form of one property or multiple properties under the applicant’s name.
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Mortgaged Properties: If the property is mortgaged or on an installment plan, the bank or developer must be paid at least 1 million AED of the property's worth. A No Objection Certificate (NOC) letter and mortgage statement will be required for the Visa application process.
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Joint Ownership: Spouses can jointly participate in one property, provided their shares are equal. In case of unequal shares, the primary visa holder will be the one with the higher share. The applicant’s name in the title deed must match the name in the passport.
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Additional Sponsorship: The 10-year Investor Visa allows applicants to sponsor their family, including spouse, children, and parents, offering a unique advantage for expat residents in the UAE
Benefits of a 10-Year Investor Visa in Dubai
Acquiring a 10-year Investor Visa in Dubai opens up a plethora of advantages for investors, making it a highly sought-after opportunity:
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Extended Stay Outside UAE: Unlike other Visa holders, individuals with the 10-year Investor Visa can stay abroad for more than six months without having to return to the UAE within that period, providing unprecedented flexibility for international travel.
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Enhanced Safety: Dubai is renowned for its safety, with low crime rates and stringent law enforcement. Investors can enjoy the city’s vibrant nightlife without compromising their safety.
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Family Sponsorship: The Visa allows investors to sponsor their family, including children (up to 30 years for both boys and girls if unmarried), and parents, fostering family unity.
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Additional Sponsorships: Investors can also sponsor up to three housemaids and drivers, enhancing their lifestyle and domestic support.
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Use of a UAE bank account: Obtaining a golden visa allows you to open a bank account in the UAE. The bank account can be opened using your chosen currency.
Conclusion
For investors eyeing Dubai’s thriving real estate market, the 10-year Golden Visa program offers an unparalleled opportunity for long-term residency and stability. With reduced investment limits and extended benefits, the UAE continues to attract global investors, reinforcing its status as a hub for international business and property investment. As Dubai continues to evolve as a global economic powerhouse, the 10-year Golden Visa serves as a testament to the UAE’s commitment to fostering a welcoming environment for investors from around the world.
