To qualify for the Golden Visa, investors must purchase property in the UAE. Previously, a minimum investment of 2 million AED was required, but with the 2024 changes, more flexibility has been introduced. Investors can now purchase properties for a lower amount, provided the total property value reaches 2 million AED. The purchase can also be financed through loans from select local banks.
The property must be registered as a freehold property or be part of an off-plan project that meets government requirements. The applicant must submit a title deed and other relevant documents issued by the respective Land Department.
Application Process
The process for obtaining the Golden Visa involves several steps:
- Purchase a Property: The investor must ensure that the property they acquire meets the value requirements.
- Proof of Ownership: The next step is to submit a title deed to the Land Department of the emirate where the property is located.
- Visa Application: After proving ownership, the investor can apply for the Golden Visa. Processing time typically ranges from three to six months.
Key Changes from 2024
One of the most notable changes since 2024 is the removal of the minimum down payment requirement, which was previously set at 1 million AED. This amendment makes it easier for investors to qualify without needing to provide a substantial initial payment. Properties can now qualify for the visa even if they are partially financed or not yet fully paid off.
Example: Real Estate Investment for Visa Acquisition
When the primary goal is securing residency, opting for properties from smaller developers in emerging areas like Dubai Islands or Expo City can be advantageous. These developers often provide flexible payment plans due to higher credit risks compared to publicly listed or state-backed companies. For instance, only 50% of the purchase price may be due by completion, with the remainder payable in the years following.
In Expo City, 2-bedroom apartments are currently available for around 2.05 million AED. Once the purchase contract is signed and the provisional title deed is issued, investors can apply for the Golden Visa, often granted within two weeks. Financing up to 50% of the property’s value upon completion can reduce the initial capital requirement to below 1 million AED, making the investment more accessible.
Caution When Selling Visa-Linked Properties
While the Golden Visa offers significant benefits, investors must be cautious when selling visa-linked properties. Selling the property can lead to the loss of the Golden Visa, so careful planning is essential to ensure that alternative investments are in place to maintain visa status. Before selling, investors should consult with relevant authorities or real estate advisors to safeguard their residency rights.
Conclusion
The Golden Visa through real estate investment provides foreign investors with an excellent opportunity to live and work in the UAE long-term. The recent changes have introduced greater flexibility and lower entry barriers, making the visa even more attractive. However, investors must exercise caution, especially when selling their properties, as this could lead to the loss of visa status.
For international investors seeking safe and attractive opportunities in the UAE, the Golden Visa not only offers a stable residency option but also allows participation in the country’s booming real estate market.