Dubai, the shining jewel of the Middle East and a hub for business and leisure, is also known for its fast-track immigration policy that has been attracting investors from all over the world. The Golden Visa program has been designed to provide long-term residency for any individuals. who make substantial property investments in the UAE. If you plan on taking this route to gain access to Dubai’s tax haven and secure your future with an investment in a residential property for sale in Dubai because of its status as a safe investment, then you’ve come to the right place!
In this comprehensive guide, we’ll show you how to get a golden visa through property investment in Dubai, so let’s dive into it! If real estate isn’t your preferred route, our complete guide to the Dubai investor visa covers the alternative business-investment pathway.
What are the benefits of the Golden Visa?
The Golden Visa is a long-term residency visa allowing foreign talents to live, work or study in the UAE while cherishing the exclusive benefits of real estate investments. The visa holders are also granted automatic renewals upon meeting the same conditions when the visa expires.
Benefits of the Golden Visa are:
- A renewable residence visa that is valid for 5 or 10 years.
- Self-sponsorship.
- Allows you to stay outside the UAE for more than the usual restriction of six months.
- Allows sponsorship of family members, including spouses and children, regardless of their ages.
- Allows you to sponsor an unlimited number of domestic helpers.
- In case the primary holder of the Golden Visa passes away, family members can stay in UAE until the end of their permit duration.
For a closer look at each of these perks, see our breakdown of 7 benefits of the Golden Visa in Dubai, or our step-by-step guide to Golden Visa eligibility and how to apply.
Eligibility Requirements for Investors
According to the official website of the Dubai Government, Golden Visa Investors are divided into three categories:
- Investment Fund (Commercial Investor)
An investor meeting the requirements under this category can receive a Golden Visa for 10 years without needing a sponsor. The requirements are:
- A letter from an accredited investment fund in the UAE that confirms a deposit of at least AED 2 million or a valid commercial or industrial license along with the investor’s Memorandum of Association, only if the investor’s capital is at least AED 2 million.
- A letter from the Federal Tax Authority stating that your company pays at least AED 250,000 yearly to the government.
- Only commercial or industrial licenses are accepted. If in case the license is issued from a free zone or special development zone, a “ To Whom It May Concern Certificate” from the relevant free zone authorities is necessary.
- The investor’s spouse and unmarried children can also receive a Golden Visa for ten years.
- Public Investment Fund (Deposit)
An executive director or advisers appointed by an investor in public investments may be granted a Golden Visa for a period of (10) years without a sponsor and for one person only.
The eligibility will be conditional upon the submission of a letter from the Investor in public investments which states that the executive director or the advisor has been appointed for a period of (10) years.
- And, Real estate investment.
A Golden Visa for a period of 10 years with the possibility of renewal under similar terms and sans sponsorship can be achieved by meeting either of these two prerequisites:
- An official letter from Dubai’s Real Estate Registration Department that confirms the proprietorship of one or multiple properties valued at a minimum of AED 2 million. Mortgaged properties can qualify too, with a letter from the lender.
- Investment into a project by real estate property developers in Dubai exceeding the AED 2 million mark, including purchases financed via loans under the current Dubai Land Department rules.
You can find the required documents and apply for Golden Visa under each category at the official Dubai Government portal at https://gdrfad.gov.ae/ or through the Dubai Land Department website at https://dubailand.gov.ae/.
Who else can apply?
In order to be eligible for the Golden Visa program, expat investors have to meet certain preset criteria related to their age, nationality, and social or financial standing. Exceptional talents, entrepreneurs, scientists & professionals, outstanding students and graduates, humanitarian pioneers, and frontline heroes can all apply for this program once further conditions mentioned on the government website are met.
Conclusion
In conclusion, obtaining a golden visa through property investment in Dubai is an attainable goal. With proper research, an understanding of different regulations and laws applicable to your particular situation, the right financial planning, and professional assistance, you can make obtaining a golden visa easier and more efficient. As long as you have done due diligence in all aspects involved with such an endeavor, you will be well on your way to getting your perfect home in a residential project in Dubai for yourself or your family!
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