Dubai is attracting a lot of individuals for various reasons. Some go there just to have a fun time with their loved ones, some go to find employment while some are looking forward to making an investment there. The reason why the demand for Dubai real estate investment is arising is because it comes with several additional benefits. One of the main benefits of investing in a property in Dubai is that it makes you eligible to get a Golden Visa UAE in your name.
Yes, you read that right- Property investment in Dubai and other parts of the UAE leads to attaining residency. This means you increase the probability of staying in Dubai for a longer duration. Not just that, the city is also known for its tax-free lifestyle and quality of life that it offers. Hence, in this article, we will be taking a look at the different aspects related to UAE Golden Visa attainment.
An Overview of the UAE Golden Visa
The “UAE Golden Visa” program came into existence in the year 2019. This visa comes with the opportunity to enjoy long-term residency in Dubai and other cities of the UAE. The visa allows you to enjoy the residency for a period of 5 to 10 years. There are different categories based on which you can attain this visa. Anyone belonging to the following categories can apply for and get this visa:
- Scientists
- Investors
- Entrepreneurs
- Skilled professionals
- Outstanding students
What qualifies you for a Golden Visa as an investor?
Earlier, in many countries, the visa was given on the basis of employment and the employer was the one who used to intervene in the visa approval process. However, with the new rules and regulations in UAE, you can also attain a Golden Visa as an investor. Here are the applicable rules that qualify you to attain a golden visa as a real estate investor:
Minimum Eligibility Requirements-
- To apply for this visa as an investor, you should own a property in Dubai or any other part of UAE worth AED 2 million / USD 545 approx. (minimum).
- The property that you have invested in either has to be completed or an off-plan property sold by a reputed/approved developer.
- Even if you have multiple properties of the minimum value mentioned above, you can apply for this visa.
Conditions for mortgaged properties-
- If you have purchased properties with a mortgage and you still wish to apply for the golden visa, then make sure that you have paid at least AED 2 million of the property value.
- Also, ensure that you have mortgaged it from a UAE-based bank.
- You must be able to present the necessary documents of your ownership as well as payment.
Required documents-
- Be sure that you hold the title deed which is issued only by Dubai Land Department (DLD)
- Only residential property owners are eligible
- If applying through joint ownership, make sure your part of the share is worth AED 2 million or above
Advantages of having UAE Golden Visa as an investor
There are several benefits that come attached with a Dubai Golden Visa and some of them are listed below for your understanding:
- Long-term residency and stability
- Get the opportunity for family sponsorship
- Run your own business without needing a local partner
- You are allowed multiple entries to the country
- Get easy access to premium healthcare and educational facilities
- Enjoy local banking services
Learn the steps to apply for a UAE Golden Visa as an investor
- Make sure that you have a property with AED 2 million or above
- Get a title deed and the relevant documents from DLD
- Navigate to the ICP portal or the Dubai Land Department
- When asked, submit your passport and the results of medical fitness tests
- Provide your Emirates ID application along with proof of investment
- Wait for the application process and you’ll get your visa soon
Final Views:
Applying for and attaining a Golden Visa in UAE is a straightforward process. However, before you start the application process, make sure that you check your eligibility for the same. There are several categories that make you eligible for this visa. However, this particular article has specifically talked about attaining a Visa as a real estate investor in Dubai or any other part of the UAE.