How To Get A UAE Golden Visa With Property Investment
The UAE is increasingly popular with expats who want to improve their quality of life, take advantage of the opportunities on offer here, and move to a warmer climate. For talented people who want to live, work and study in the UAE, the Golden visa provides a chance for them to make the UAE their new home.
The requirements for obtaining a Golden visa are strict, as it is reserved for those who will not only benefit the most from living in the UAE but also bring something substantial to the table. So, in general, Golden visas are reserved for investors, entrepreneurs, top-level students and graduates, scientists and frontline heroes such as doctors and nurses.
It is also possible to apply for and gain a Golden visa through property investment. This article will explain how the system works and the requirements for a Golden visa in the UAE.
What are the advantages of a Golden visa?
A Golden visa is a long-term residence visa that also includes exclusive benefits. It initially gives applicants a six-month entry visa that can be used multiple times within that time frame. It can then be extended into a long-term and renewable residence visa valid for five or ten years.
One of the main advantages of a Golden visa is that you do not require a sponsor to support your application; your visa is granted on your own merits. You can also travel outside the UAE for more than six months without forfeiting your residency, as well as sponsoring family members' visa applications and domestic helpers.
How to apply for a Golden visa
You will need to check that you meet the requirements before applying for a Golden visa. However, once you are sure you do, the application process is straightforward. It can be done online via the Federal Authority for Identity, Citizenship, Customs & Port Security (ICP) website or the ICP App, available on Google Play and the App Store.
You can streamline your application using the ‘One Touch’ Golden visa service. This is a bespoke eService that assists applicants in ensuring their residency is hassle-free, including applying for residency and identity documents and renewing them when the time comes.
How to get a Golden visa with property investment
The UAE is seeing an explosion of property and real estate investment, with exponential growth in both the domestic and commercial sectors. The level of investment coming into the region makes the UAE one of the most lucrative locations for property investment.
Because of the importance of real estate investment to the economy of the region, the UAE has decreed that five-year Golden visas can be issued to those who have plans to invest in property.
If you own a property or group of properties, a Golden visa for five years can be granted if you provide a letter from the Land Department of the Emirate you are investing in. That letter must confirm that you own one or more properties with a value of more than 2 million dirhams.
A visa can also be granted if you buy a property in the UAE with a loan from specified banks approved by the appropriate local entity.
Bear in mind that some Emirates will have additional conditions. For example, the Abu Dhabi Residents Office insists that the investment be maintained for a minimum period of two years after the visa has been issued. This is to prevent property investors from doing a 'quick flip' to maximise profit while still enjoying the advantages of holding a Golden visa and to demonstrate their commitment to more long-term investment in the region.
What are the requirements for getting a Golden visa in the UAE?
Golden visa requirements vary depending on the category you fall into. For example, highly skilled workers require a minimum of a bachelor's degree or equivalent and a monthly salary of at least AED 30,000. Business entrepreneurs have to be founders or part-owners of a UAE-based start-up with a minimum revenue level.
UAE Golden visas issued to property developers will depend on investment in residential or commercial property with a minimum value of AED 2 million. You can also get a 2 years residency Visa with AED 1 million property investment as well. In fact, investing in UAE property is one of the easiest ways to qualify for a Golden visa and opens up the possibility of a long and lucrative career as a real estate investor in one of the most dynamic economies on the planet. If you are interested in the Dubai Real Estate Market, please contact us from the link!
