July 15-2024
News
Golden Visa Real Estate: Your Key to Global Citizenship and Luxury Living
If you are a real estate investor attracted by the UAE’s spectacular property developments and high standard of living, the ‘Golden Visa’ scheme presents the ideal opportunity to build wealth, enjoy a luxurious lifestyle, access lucrative business opportunities, and establish a lasting presence in one of the world's most dynamic regions.
By providing long-term residency, the Golden Visa is attracting a diverse range of investors, including affluent retirees and global business professionals.
At the same time, the Golden Visa program encourages long-term economic stability and growth by attracting HNWI’s who bring capital, expertise, and international connections to the UAE. This influx of foreign investment is expected to drive demand in the real estate sector, leading to increased property sales and rentals, boosting the market's overall value.
The Golden Visa comes in two options: a 5-year or a 10-year residency permit. Unlike traditional visas, it does not require a local sponsor and is easily renewable, providing a hassle-free way to maintain residency.
To qualify, aspiring Golden Visa real estate investors need to own property or a portfolio of properties in the UAE; this includes residential, commercial, or mixed-use properties. Note: investors must obtain mandatory medical insurance for themselves and their families.
The good news is a recent change made applying for a Golden Visa even easier.
The UAE government has removed the previous AED 1 million (approximately $272,000) minimum down payment requirement for property investments. This has attracted a broader range of real estate investors, including affluent retirees, who are drawn to the UAE’s high-quality lifestyle, top-tier healthcare, and cultural offerings.
Previously, to qualify for a 10-year visa, investors needed properties valued at AED 2 million or more and had to meet a minimum down payment of AED 1 million if using mortgage or installment plans. Now, while the AED 2 million property value requirement remains, the down payment stipulation has been eliminated.
This change allows a wider array of investors to participate in the market, stimulating more activity and growth. Increased property investments not only enhance the real estate sector but also contribute to the development of related industries such as construction, banking, and tourism.
So, what are the main benefits of holding a Golden Visa?
Firstly, Golden Visa holders can stay outside the UAE without risking visa nullification – so they have ease of movement. It also offers unparalleled stability, allowing investors and their families to settle in the UAE without the constant worry of visa renewals.
Golden Visa holders can also sponsor their immediate family members, including spouses and children of all ages – as well as domestic helpers without restrictions (in the unfortunate event of the primary Golden Visa holder’s passing, family members can continue to reside in Dubai until the visa’s expiration).
Interested in knowing more about Golden Visa real estate? Please visit: - https://icp.gov.ae/en/golden-residency/
