If you’re planning to invest in property in the UAE, you may be eligible to apply for a golden visa. Here’s what you need to know about the UAE’s long-term residency program
Hundreds of thousands of people from different countries have been granted the UAE golden visa since the program was announced in 2019. More than 158,000 have been granted a golden visa in Dubai alone, and more are expected to avail of the program after the government relaxed restrictions this year.
The golden visa allows holders to live, work, or study in the UAE without the need of a national sponsor for a period of 10 years. The visa is renewable, which makes it even more attractive to expatriates looking to establish long-term roots in the UAE. Golden visa holders are also allowed 100 per cent ownership of any company they establish on the mainland.
The UAE golden visa is truly a unique opportunity for foreigners who want to enjoy the lifestyle perks of Dubai as a long-term resident. The UAE government, for its part, has leveraged the appeal of the golden visa to attract people with special talents as well as investors from around the world to contribute to the continued progress of the country by pursuing a career or making long-term investments in the UAE.
For those looking to invest in real estate in the UAE, the golden visa is an attractive value-added incentive that will make their property investments more lucrative.
To qualify via the real estate investment route, a foreigner needs to buy or invest in a property valued at least AED 2 million. In January 2024, a new regulation announced by the government made it easier to qualify for a golden visa through property investment when purchasing property through a bank mortgage or an installment plan.
Previously, to be eligible for a golden visa, mortgage property buyers were required to make a minimum down payment of AED 1 million, or at least half of the property’s value. The government has now removed this restriction, which allows even more people to avail of the 10-year residency permit through property investment.
Also read: Can foreigners buy property in Dubai?
The more relaxed regulations serve as a virtual invitation to foreign real estate investors looking to capitalise on the UAE’s booming property market. They also open a gateway for other segments looking to establish a foothold in the UAE through a second home, such as retirees and expatriate families seeking a stable and secure environment.
If you’re looking for your dream home in the UAE, visit Gllit.com to find exclusive real estate offers and the most competitive prices direct from property owners.
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