Still hesitant about acquiring the Golden Visa or facing some obstacles?
Here are some new updates on the property Golden Visa that will urge you to make the right decision.
The UAE government has launched new updates regarding the property Golden Visa to encourage more investors to apply for the Dubai Golden Visa. All the exerted efforts are directed to facilitate the conditions of acquiring the 10-year residency Golden Visa for property owners and investors.
In this article, we will discuss the new updates and how the UAE government eliminates the golden visa on property.
Dubai Golden Visa Eligible Categories Recap
Let’s recap the Dubai Golden Visa Eligible categories to showcase the possibility of acquiring the Golden Visa. It’s becoming an achievable goal for more categories than before.
In the next section, we will shed light on the entitled categories who are eligible for a UAE Golden Visa under new rules as follows:
- Property Investors: Property investors can gain the Golden Visa by buying property in the UAE with a value of Dh 2 million or more.
- Entrepreneurs: Entrepreneurs who aim at setting up a business in Dubai can apply for this 10-year residency golden visa without the need for a local sponsor.
- Influencers: Active influencers who have millions of followers are qualified to apply. Check out one of the success stories of our cool client, Elena.
- Skilled Professionals: Skilled professionals whose monthly salary is Dh30,000 or more (around $8,167) can apply too.
- Scientists & Researchers: Talented scientists and researchers are also eligible for the UAE Golden Visa.
- Top-notch students: 2-year graduates and top-notch students from certain universities are privileged to apply for the golden visa as well.
- Humanitarians: Individuals who are pro-humanitarian activities and devoted to human rights can also have the chance to acquire the UAE golden visa.
Learn more about the recipients of all eligible types from our Freezoner blog.
Elimination of Down Payment of Golden Visa on Property
The UAE has announced the elimination of the down payment of the Golden Visa on property to make it easier for investors to get the 10-year visa.
Early on, it was compulsory to pay a down payment of 1 million dirhams which is equivalent to $272,294. This condition applies to investors who wish to acquire Golden Visa by buying property valued at 2 million dirhams or more.
In other words, if you wish to invest in a real estate mortgage or instrumental plan you have to pay at least 1 million dirhams as a down payment.
Luckily, the United Arab Emirates tends to make the process easier than before by dropping the minimum down payment condition.
According to The National News, “Now, investors can qualify for the golden visa if the property’s value is Dh2 million or more, regardless of whether it’s off-plan, completed, mortgaged or not mortgaged”.
Perks of The Golden Visa for Property Owners
There are ample perks of the Golden Visa for property owners and potential buyers too.
Property buyers and property enthusiasts will enjoy the following perks:
- Property owners who paid down payments of less than Dh1 million can now be eligible for the Golden Visa
- Potential property buyers can invest in off-plan units paying from (30 to 50 thousand) down payments and apply for the Golden Visa
- Investors will amplify their investment over time by taking place in the UAE real estate dynamic market
Learn more about the rest of the perks of acquiring the Golden Visa and discover more from the Ultimate Guide For Dubai Golden Visa Requirements here.
Bottom Line
The bottom line is the elimination of the down payment will benefit the property owners who aspire to gain the property Golden Visa. The UAE government always seeks to make easier procedures to urge investors to be part of the UAE’s outstanding community.
On another note, our dedicated team, at Freezoner, is ready for your questions to make the process even faster than ever. Never hesitate to contact us now to start your investment journey in the UAE.