UAE Golden Visa rule changes are a “game-changer” for Dubai real estate investors, according to a property expert in the country.
Exciting changes are underway for investors seeking a Golden Visa in the UAE, as the eligibility requirements for property investors have been significantly eased.
The UAE government has announced the removal of the AED1m ($272,000) minimum down payment for real estate investments, marking a groundbreaking shift in the Golden Visa program.
UAE Golden Visa rule change
This development presents a golden opportunity for investors to tap into the thriving UAE property market and secure a 10-year residency visa.
Soliman Hossameldin, Director of Digital Marketing of D&B Properties, said: “The UAE’s decision to eliminate the minimum down payment requirement is a game-changer for investors.
“It opens the door for a more diverse range of individuals to participate in the Golden Visa program, fostering a more inclusive and dynamic real estate landscape.”
As of January 24, 2024, the UAE abolished the minimum down payment requirement of AED1m ($272.000) or 50 per cent of the property’s value for the property Golden Visa.
This means that, regardless of the down payment amount and the property’s status (off-plan, completed, mortgaged, or not mortgaged), investors can now qualify for a Golden Visa by owning a property worth AED2m ($545,000) or more.
Investors who choose properties valued at AED2m ($545,000) or more can now unlock the door to long-term residency in the United Arab Emirates.
The Golden Visa, valid for 10 years and renewable under the same terms, allows investors to become an integral part of the UAE’s vibrant community and grow their investments.
UAE Golden Visa Eligibility for real estate investors
To be eligible for a United Arab Emirates Golden Visa under the revised rules, real estate investors must:
- Provide a letter from the land department of the respective emirate confirming ownership of one or more properties valued at no less than AED2m ($545,000)
- Acquire a property through a loan from specific local banks approved by the competent local entity
While the minimum payment requirement has been abolished, the final approval of the Golden Visa application is subject to the land department’s consideration on a case-by-case basis.
This ensures a fair and individualised assessment of each applicant.
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