UAE Golden Visa: what has changed for real estate investors?

The news on the proposed mitigation of requirements for applicants seeking a UAE Golden Visa based off the purchase of property were announced at the end of January.

Golden Visa: who can benefit from it and what are the advantages?  

  • A Golden Visa is a great way to forget about any visa-related problems for the next 10 years (the visa is renewable).

In one of our posts we already wrote about its main advantages, the requirements for the applicants with a salary of AED 30,000 per month and the procedure for obtaining it.   

  • Golden residency is available not only to the highly skilled specialists but to the other categories of applicants amongst which are investors in the UAE real estate.

Requirements for property investors: before / after the amendments   

  • Previously, to qualify for a Golden Visa an investor had to purchase property worth at least AED 2,000,000 and to provide a bank statement or a letter from the developer proving that the minimum down payment of AED 1,000,000 or 50% of the value of the property was made if the property is mortgaged or purchased in instalments.
  • The anticipated changes are expected to remove the requirement for a particular down payment amount completely: investors would be able to qualify for a golden visa regardless of the size of the down payment (if the property is purchased via mortgage or in instalments) if the value of the property is from AED 2,000,000.

As a result of these changes an investment of as little as AED 50,000 (considering the minimum down payment on the property market) may be sufficient to qualify for a Golden Visa.

  • Applicants will need to provide a Title Deed, a mortgage document from the bank or a letter from the developer, as well as a copy of their passport and a photo.

NB: The official decision has not yet been issued and the updates has not appeared on the UAE governmental websites, so when the amendments will take place is unknown and there are no guarantees they ever will.

Our team is monitoring the status of these changes and will inform you when the rules are officially amended.  

We are ready to support you through all stages of obtaining a Golden Visa and will help you even with the most complicated cases in the shortest time possible. If you are interested to apply for a Golden Visa and are ready to get started, or just want to discuss available options, please contact us at corpservices@whitesquarepartners.com.

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