Golden Visa through Property Purchase in Dubai

The Real Estate market in UAE is a strategic sector contributing significantly to the economy and the business outlook of UAE. The Golden Visa through property purchase in Dubai has become easy with the elimination of the minimum deposit requirement of AED 1 Million.

However, the property value must be above AED 2 Million and can be in a mortgage, loan or EMI plan.

With numerous new projects lined up and handing over of completed apartments to the owners, the real estate segment is actively progressing in the region. It is a dynamic industry sector with vibrant choices for the investors to own their dream home in UAE.

How to get a Golden Visa by Purchasing a Property in Dubai?

To be eligible for the 10-Year Golden Visa, the investor must have a property worth AED 2 million or above. It also could be multiple properties in the name of the investor that will add up to the value of AED 2 Million or above.

As per the recent update, there is no requirement for a minimum down payment of AED 1 Million to be eligible for applying for the Golden Visa. Also, the property can be on a mortgage, loan, or EMI plan. The investor must get an NOC from the Bank stating the payments made and the remaining amount.  

So, now the pathway to obtaining a Golden Visa through property purchase is becoming accessible to a wide audience. Those who have a property investment (AED 2 Million and above – the amount financed by loan or EMI) in any of Dubai’s Freehold areas are eligible for a Golden Visa valid for 10 years (renewable).

Furthermore, the investor can sponsor their dependents (wife, son, and daughter –until married), two housemaids, and a driver. Additionally, they can extend their stay in UAE for a longer period and also travel out of UAE for any duration (no six-month return).

Why Choose UAE for Settling with your Family?

There are umpteen reasons why investors choose UAE to settle down with their families. The political stability, improved lifestyle, ease of doing business, business-friendly laws, zero personal & income tax, lowest crime rate, etc.

Property purchase in UAE is a lucrative investment opportunity for investors and professionals around the world. Also, it makes the investor eligible for a UAE Golden visa upon meeting certain investment criteria.

It allows the ex-pats to extend their stay in UAE and enjoy the world-class facilities and business opportunities available here in the region. Furthermore, the property market in UAE offers a wide range of options from affordable to ultra-luxurious homes for all types of buyers.

Wide Range of Property Selection in UAE

The introduction of budget-friendly homes across UAE freehold areas such as Jumeirah Village Circle, International City, etc., are attracting middle-income ex-pats and foreign investors to acquire their dream home at relatively lower rates when compared to global real estate markets.

Then, there is are a lot of luxurious villas and apartment projects in the heart of Dubai such as projects in Business Bay, Dubai Water Canal, Palm Jumeirah, etc., where investors can spend a fortune to own world-class quality homes overlooking the sea and cityscapes.

UAE Residence Visa Tied to Property is a Trend

The UAE Residence Visas tied to the property are right at the center of the property decision-making for a global investor aiming to settle in the UAE. Purchasing a property will help investors to experience the life in UAE and stay for a prolonged period in the region.

Property investment in UAE offers a high-yielding business investment over the years and that is the key reason why investors are aiming for a property purchase in UAE. The 10-year Golden Visa is the key attraction for foreign investors to settle down in Dubai, UAE through property purchases.

Property Visa in UAE – Attracting Foreign Investors

The residence Visa along with the property purchase is a key highlight attracting foreign investors to UAE. Ambitious projects such as the Al Hamra Properties in Ras Al Khaimah are offering 12-year visas tied to property purchases.

The property developer has teamed up with the Ras Al Khaimah Economic Zone (RAKEZ) to offer a simplified process of UAE Residence Visa application. The aim is to attract entrepreneurs, freelancers, consultants, and senior citizens to live and work in UAE.

Property Visa is opening up new possibilities for investors in UAE in terms of living and working or starting a business in the region. Also, the developers in UAE are aiming to tap the white-collar professionals and the abundance of freelancers and employees in the UAE market.

Long Term Golden Visa and Property Purchase in UAE

By introducing long-term 10 year Golden Visas along with property purchase, UAE aims to retain the top talents and enable the ex-pat population to continue their stay in the country.

The Golden Visa for 10 years is for supporting businesses and investors in achieving their long-term goals. They can purchase exquisite properties in prime locations of Dubai, and meet the eligibility criteria for Golden Visa.

The process of applying for the Golden Visa is streamlined and simple with minimal documentation requirements. Expert Business Consultants will coordinate with the Investors and Government Authorities such as the Dubai Land Department to get the processing of Golden Visa efficiently.

10-Year Golden Visa

For an ex-pat investor in UAE, a property purchase worth above AED 2 million is the first step towards realizing the long-term goal of settling in the UAE with family.

For the 10-year Golden Visa, as per a recent update, the minimum requirement of 50% down payment for the AED 2 Million property is eliminated as a criteria to apply. Also, the property purchase of AED 2 million can be either through a loan, mortgage, or Easy Monthly Installments, etc.  

So, now the investor who has started the property purchase process for a Villa, Townhouse, or Apartment in Dubai that is worth AED 2 Million; is eligible for the Golden Visa.

Required Documents for Long-Term Residence Visa in UAE

There are a few documents for processing the Golden Visa for the investor. Following are the paperwork that needs to be in place for the submission to the Dubai Land Department.

• Title Deed for the Property mentioning the Property Value (Must be AED 2 Million and above)
• Bank or Developer NOC letter stating the loan, or monthly installment amount paid up and pending.
• A clear passport copy (Passport valid for more than 6 months) and Previous Emirates ID (If applicable).
• A high-quality applicant digital photo that matches the ICP specifications
• Applicants from the following countries must have their National ID (IRAN – PAKISTAN – IRAQ – LIBYA – AFGHANISTAN).
• Health insurance (from any insurance company in UAE). As per GDRFA regulation, Medical insurance is compulsory for all residence permit applications.

To know more read: UAE Residence visas for Investors

Property Purchase in UAE Paving Way for Long Term Sustainability

So, with the Golden Visa under the Property Purchase pathway, investors in UAE can continue to stay in UAE while owning a home.

Thus, an investor visa through property purchase enables more people to stay in the country for a longer time. Also, In turn, creates a sustainable demand for property in the region.

To know more about Property Purchase in UAE and the Residence Visa process. Talk to our expert Business Consultants right away!