Golden Resident Visa – now without 1 million

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Golden Resident Visa - now without the 1 million

According to recent reports, the United Arab Emirates has eliminated the payment of 1,000 000 AED for real estate investors who want to become holders of a ten-year Golden Visa.

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Golden Resident Visa - now without the 1 million

According to recent reports, the United Arab Emirates has eliminated the payment of 1,000 000 AED for real estate investors who want to become holders of a ten-year Golden Visa.

Previously, if the property was purchased by installment or mortgage, the applicant for a Golden Visa in the UAE had to make a one-time payment of 1,000 000 AED or pay half the value of the property.

This program was implemented to attract as much foreign investment as possible into the Emirates' economy and to create favorable conditions for investors and their families to move to the country. After all, now to get a Golden Visa UAE is enough to invest at least 2,000 000 AED in real estate, regardless of its stage of construction and the presence of mortgages.

UAE Golden Visa: Benefits of the latest changes

Thanks to this program, virtually any real estate investor can become a Golden Visa United Arab Emirates holder, as most real estate in the country is worth well over 2,000 000 AED. Thus, all mortgage holders will be eligible to apply for the Golden Visa and can then sponsor their family and domestic workers.

The change introduced will be a kind of stimulus for the real estate market, which will force developers to increase construction. This will help attract foreign investors to the UAE, creating more jobs and overall economic growth and development of the real estate market.

According to Mr. Abu Harb, an employee of BSA Ahmad bin Hezeem & Associates, the latest change regarding Golden Visa is not only applicable to specific emirates but also to the entire UAE.

15.02.2024

Some facts about Golden Visa in Dubai

Was introduced in 2019;
Is issued to entrepreneurs, investors, valuable professionals, exceptional talents and other categories of applicants;
Valid for five or ten years;
Can be renewed multiple times after the expiration date;
Allows you to sponsor your immediate family and personal assistants;
Gives the right to work in a local company;
Provides the opportunity to conduct business activities in the UAE;
Allows visa holders and their children to study in Emirati schools and universities; allows them to open accounts in the country's banking institutions, obtain driving licenses, purchase personal cars, purchase health insurance, and enjoy tax benefits;
Provides an opportunity to save money on communications and housing rentals (in the case of long-term housing rentals, it is possible to save up to 40% of the money compared to short-term rentals);
Allows visa-free travel to many countries;
Allows freedom of movement and eliminates the need to re-enter the UAE after a certain period of time;
Allows you to become a citizen of the United Arab Emirates.

How to obtain a UAE Gold Visa?

The process of obtaining a Gold Visa involves a considerable number of procedures. In order not to delay its processing, it is important to prepare the necessary documents promptly, submit them on time, and avoid mistakes when filling out the application form.

Before you can obtain a visa and put it in your passport, you must complete the following steps:

Select an appropriate program. The UAE Golden Visa applicant chooses the way of moving to the Emirates based on his/her needs and available capital. For example, if the applicant's goal is to invest their own funds and enjoy the privileges of the UAE, they will choose an investment program. Those who wish to open and develop their business on the territory of the state consider a permit for entrepreneurs.
Collecting the necessary documents and fulfillment of certain conditions. Depending on the type of program selected, the applicant must prepare a package of documents in a timely manner and meet the established requirements: to conclude a sale transaction, develop a business plan, etc.
Arrival in the UAE. Upon arrival, the applicant is issued a 2-month permit. During this period, it is necessary to undergo a medical examination in the Emirates, obtain insurance and other mandatory procedures.
Fill in the Golden Visa application form, submit it with all previously prepared documents and pay the prescribed fee.
Receive your UAE Golden Visa and Emirates ID. The visa will be inserted in your passport and you will be issued with an ID card, which is a kind of identity card that allows you to use government services and guarantees security and protection of your rights.

Is there a need for intermediaries?

Obtaining a Golden Visa Dubai on your own is a long and tedious process. If you are not familiar with the nuances of local legislation, you may miss deadlines for submitting documents or the validity period of certificates. This results in unplanned expenses that could have been avoided.

Contacting leading specialists will resolve any problems and make the process of obtaining a visa and moving to the Emirates fast and convenient.