Golden Visa: Dubai real estate investors will find it easier to obtain the UAE Golden Visa, according to real estate experts. The recent changes to the rules for UAE Golden Visa status are considered a “game changer” for Dubai real estate investors. These changes apply to new investors seeking a Golden Visa in the UAE. The eligibility criteria for the new visa status for real estate investors have been considerably relaxed. The UAE government has announced the removal of the minimum down payment of AED1 million ($272,000) for real estate investments. This marks a groundbreaking change in the Golden Visa program.
This development thus offers investors a golden opportunity to get involved in the UAE’s thriving real estate market and secure a 10-year residency visa. It opens the door for a more diverse group of people to participate in the program and promotes a more inclusive and dynamic real estate landscape.
New regulations attract new investor groups
As of January 24, 2024, the UAE has abolished the minimum down payment requirement of AED1 million ($272,000) or 50% of the property value for the Real Estate Golden Visa. This means that investors are now eligible for a visa if they own a property worth AED2 million ($545,000) or more, regardless of the amount of the deposit and the status of the property (in planning, completed, mortgaged or unencumbered). Investors choosing properties worth AED2 million ($545,000) or more can now open the door to long-term residency in the United Arab Emirates.
The visa, valid for 10 years and renewable under the same conditions, allows investors to become an integral part of the UAE’s vibrant community and increase their investments.
To be eligible for a UAE Golden Visa under the revised rules, real estate investors must:
– Provide a letter from the land registry of the respective emirate confirming ownership of one or more properties worth at least AED2 million ($545,000).
– Purchase a property through a loan from certain local banks approved by the relevant local authority.
Although the minimum payment requirement has been waived, final approval of the visa application is subject to review by the Land Registry.
