Can Real Estate Investors Get a Golden Visa In UAE?
When it comes to property investment, Dubai is considered to be one of the most sought-after places worldwide. It is known for its extravagant lifestyle, glittery infrastructure, and luxurious living standards. People all across the globe not only just prefer this city of wonders for travel, but also for investing in the real estate sector. After the UAE Cabinet announced major changes to its long-term visas and permits, the UAE’s golden visa has become more accessible to real estate investors. UAE is on its way to becoming one of the top destinations to live, work, and invest, by easing eligibility and expanding the visa residency scheme’s scope of benefits.
The updated UAE golden visa regulation is a great initiative and is all set to accelerate Real Estate Investment in Dubai specifically, mainly in Abu Dhabi and Dubai. It entices more foreign investors into the country. The updated scheme shares the 10-year Golden visa, 5-year Green Residence visa, entry visas, and residence permits. And this is expected to significantly impact the real estate market.
Golden Visa – Amendments
Golden visas were introduced granting foreigners a 10-year residency to live, work, and study in UAE without the need for a national sponsor while giving them 100% ownership of their business in the country.
The amendments bring wider eligibility criteria allowing real estate investors to obtain the highly sought-after golden visa with much more ease. This brings the property purchase minimum down to AED 2 million from the prior investment minimum of AED 5 million. The investors can also obtain a golden visa when buying one more off-plan property. It should be noted that these properties should be bought from approved property companies. And in addition to that, one can get a golden visa when purchasing a property with a mortgage loan from specific banks.
The people who hold the golden visa can stay outside the UAE for as long as they need, without affecting their residency. Earlier this was restricted to six months, post which the holder loses the residency.
The amendment to the Golden visa is considered to be a great initiative and is expected to accelerate real estate investments enticing more investors from across the globe. These changes are also set to provide further flexibility in terms of payment, duration of stay, and off-plan purchase.
Still confused? Well, in that case, the Sweet Home Dubai team will help you in understanding it in a better way. Moreover, if you are looking for ideal properties to invest in Dubai, then feel free to check out the wide range of options listed on our website i.e., https://www.sweet-home-dubai.com/. For more details, visit our website today, or you can get on a call with our real estate experts at +972 03-644-44-46, and they will guide you with your next investment.