UAE Golden Visa: Here’s how you can apply through property investment

Those purchasing off-plan property or with a mortgage now have the option to obtain a 10-year residency in the UAE through a Golden Visa as part of the country’s plan to attract further investments and boost the benefits for long-term residents.

The UAE has significantly dropped the amount of property investment required to obtain the Golden Visa. The new rules also don’t include any specifications on the property transactions – whether the units are or ready off-plan or paid through a mortgage or in cash.

Here’s how you can apply for a Golden Visa through property investment:

Dubai Land Department

Real estate investors can apply for a Golden Visa through the Dubai Land Department (DLD).

Step 1: The customer visits one of DLD’s Service Centres

Step 2: The customer submits required documents and pays fees

Step 3: The medical examination is conducted in the centre

Step 4: Visa stamping on the passport

Required documents:

1. Passport
2. Availability of an electronic copy of the title deed certificate
3. Personal photo
4. Valid health insurance
5. Original Emirates ID

Investment terms

Investor visa 10 years:

1. Minimum AED2 million value property or owned share (one property or more) under the applicant’s name
2. In case the property is mortgaged, at least AED2 million of property value must be paid to the bank. A NOC letter and paid amount letter are also required in this case.
3. Husband and wife can share in one property, but a marriage certificate is required.

Real estate developers offer Golden Visa

Real estate developers in the UAE have begun offering the Golden Visa with property purchases worth AED2 million or more.

Here are two firms offering the service currently:

Samana Developers

Requirement: Investment of at least AED2 million.

The residency can be renewed as long as the investment is retained.

The company, which has seen an increase in the number of foreign investors inquiring about the UAE property market in recent months, said it set up a “one-stop service” to assist investors in obtaining the 10-year visa.

“The Golden Visa is a golden opportunity and an extra incentive for real estate buyers, along with the tax benefits in Dubai. It motivates buyers to own more and stay longer in the UAE,” Imran Farooq, CEO of Samana Developers said earlier this year.

DAMAC Properties

The property developer provides assistance to secure a 10-year Golden Visa upon purchase of a property with DAMAC. DAMAC also accepts cryptocurrency payments.