Golden Visa UAE: Evaluating the Impact on Dubai Real Estate in 2024

Golden Visa UAE

Changes to the Golden Visa UAE regulations may present opportunities for real estate investors in Dubai, say analysts. Learn about the requirements, fees, advice from professionals, and more. Real estate investors in Dubai will have more opportunities because of revolutionary Golden Visa UAE regulations, according to national property specialists. To promote increased investor involvement in the real estate industry and strengthen relationships with locals, the UAE government announced earlier this year that it would be eliminating the 1.000.000 AED minimum down payment needed to qualify for a Golden Visa UAE through real estate investment.

UAE Golden Visa property investment growth

Owners of properties valued at 2.000.000 AED or more can now apply for a Golden Visa UAE, regardless of the amount of the down payment or the state of the home (off-plan, completed, mortgaged, or not mortgaged). Local real estate specialists have hailed the move, calling it “Game Changer” that will “open doors for a diverse range” of investors in the UAE real estate market.

Makes it possible for a wider variety of people to apply for Golden Visas UAE, which promotes an inclusive and vibrant real estate market. This supports the general growth and prosperity of the UAE economy in addition to providing benefits to foreign investors. The off-plan real estate industry is likely to benefit the most, according to the government’s recent decision to remove the minimum amount needed to qualify for a Golden Visas UAE may encourage more potential purchasers to make real estate investments. The off-plan category gained the most from increased competition due to the notable increase in new launches. 

What is a Golden Visa for the United Arab Emirates?

The Golden Visa UAE ” is a long-term residence visa for foreigners to live, work, or study in the UAE with exclusive benefits which include:

  • A 6-month entry visa that can be used several times to apply for a resident permit.
  • A long-term, renewable residence permit that can be used for 5 or 10 years.
  • You can remain outside the UAE for longer than 6 months to maintain the validity of your residence visa.
  • The capacity to sponsor their spouses and kids, no matter the ages, as well as other family members.
  • The capacity to finance an infinite number of domestic assistants.
  • The permission for family members will remain until the expiration of their permit if the principal Golden visa UAE holder passes away.

UAE Golden Visa property requirement

Qualifications for a Golden Visa UAE differ according to whether the applicant is an entrepreneur, investor, or someone with a unique skill.

According to the updated regulations, real estate investors need to:

  • Send a letter verifying ownership of one or more properties valued at least 2.000.000 AED from the relevant emirate’s land department.
  • Purchase a property using a loan from a particular local bank that has been authorized by the appropriate municipal authority Although there is no longer a minimum payment requirement, the land department will still review each Golden Visa UAE application individually before granting final approval.
Where to apply for a UAE Golden Visa?

Golden visa UAE applications can be made at:

  • Abu Dhabi Residents Office.
  • Authorized Typing Centers.
  • Customer Happiness Centers.
  • GDRFAD Website.
  • ICP Official Website.
  • UAEICP Phone Application.
How to apply for UAE real estate investor Golden Visa?

The following procedures to apply for a Golden Visa UAE for real estate investors:

To submit an online application:

  • To begin the application process, go to the ICP Smart Services website.
  • Select Golden Visa UAE services from the list of services.
  • Complete the application form.
  • Send the necessary paperwork.
  • Cover the costs.
  • After that, you’ll receive confirmation with your application.

Applying at the customer satisfaction center:

  • Go to the closest center.
  • To get in line, get a ticket.
  • Send the officer the required documents.
  • If necessary, pay service fees.

At the typing center, to apply:

  • Visit the closest typing center that has been approved by ICP.
  • Send your complete application and supporting documentation.
  • Remit fees as applicable.
What criteria does the real estate investor currently need to obtain a Golden Visa UAE?

The list of the essential qualifying conditions for the 10-year renewable residency visa:

  • Minimum Investment: Those who invest 2.000.000 AED or more in real estate are eligible for a 10-year renewable Golden Visa UAE. The investment, though, can only be divided across three properties.
  • Shared Ownership: Only those whose portion of a property is worth 2.000.000 AED or more are eligible for a 10-year visa when it is co-owned. This pertains to co-owners who are relatives and those who are not.
  • Married couples who jointly own property valued at more than 2.000.000 AED but whose individual shares are less than 2.000.000 AED each may apply for the visa on behalf of either spouse.
  • Off-Plan Properties: The investor may apply for a visa under specific guidelines if the property is off-plan and costs 2.000.000 AED or more the developer’s and project’s trustworthiness determines whether the visa is approved.
  • Named properties: If an investor owns a property with a mortgage of at least 2.000.000 AED, they are still eligible to apply for a Golden Visa UAE. Eligibility is unaffected by the amount paid by the investor.
What paperwork is required for an investor in real estate to obtain a Golden Visa UAE?

Applicants need to provide evidence of ownership and property worth in the United Arab Emirates, in addition to:

  • A passport and the availability of an electronic title certificate or title deed.
  • A selfie with a UAE ID.
  • A copy of the resident’s current permit.

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