Applying for Golden Visa in UAE: Requirements, Process and Benefits

Dubai’s strategic location and expanded market have opened numerous ways for investors to enter, gain profits, and relocate simultaneously. The UAE Golden Visa plan is a long-term investment opportunity for potential investors.

Are you seeking a UAE visa to bring game-changing outcomes for you? The Golden Visa is the most popular visa type in the UAE for long-term residency, investment, and potential gains.

Here’s the guide with comprehensive details of the Dubai Golden Visa for real estate investors seeking a long-term presence in the world’s most dynamic property industry.

This article sheds light on various aspects of obtaining a Golden Visa in UAE and ensures accurate and updated information required to make an informed decision. Hold on till the end to find what benefits are approaching you besides the unique Golden Visa.

golden visa uae

Understanding the Golden Visa UAE

Before proceeding with the Golden Visa requirements, it is necessary to elucidate what it carries within its definitive body. The United Arab Emirates has introduced the Golden Visa Program to entice and retain investors, business persons, and skilled professionals.

With a plethora of benefits attached to the UAE Golden Visa, real estate in Dubai has been granted a chance to become a part of the Dubai property market.

Moreover, this Visa enables foreigners to come, explore, live, study, and work in the UAE without any sponsorship from the UAE National. Additionally, Dubai Golden Visa holders will secure residency for 10 long years and, cherry on top, a chance to partake in the real estate development of the UAE.

a) Purpose of the Golden Visa Dubai

The preliminary aim of the Golden Visa is to stimulate the economy by enticing and retaining entrepreneurs, investors, and talented foreigners. In addition to the state’s interests, Golden Visa holders will enjoy the variety of benefits associated with the visa policy.

UAE Golden Visa for Real Estate Investors

We will explore the prerequisites, advantages, and process for real estate investors acquiring the Golden Visa in a specific UAE Golden Visa eligibility criteria category.

1. UAE Golden Visa Requirements

Applicants are required to meet the given criteria in order to qualify for the UAE Golden Visa as a real estate investor. The criteria are stated below;

Minimum Investment Amount: Real Estate investors are required to invest in Dubai’s property market at a worth of AED 2 million.
Property Ownership: Investors must claim complete ownership of the property. Additionally, properties bought on a mortgage can also be considered valid for Golden Visa applicants; however, the investor is required to pay a minimum of 50% of the mortgage to an authorized local bank in the UAE.
Type of Property: Any industrial, commercial, or residential property investments are eligible for Golden Visa criteria. Moreover, investing in off-plan projects and developments is also considerable.
Duration of Investment: The investors are required to retain their ownership for at least 3 years from the date of the issuance of the Visa.

Upon completing the stipulated criteria, investors will become Golden Visa holders with a residency that can be renewed. Furthermore, the conditions may differ from Emirate to Emirate. For instance, in Abu Dhabi, you are required to retain property ownership and investment for up to 2 years.

2. Dubai Golden Visa Price

The cost of acquiring a Dubai Golden Visa for international applicants ranges between AED 4,800 to AED 9,800. This fee slightly differs for those applying from within the UAE and accounts up to AED 2,800 to AED 3,800. The general division of visa fees is following;

Medical Examination Fee: This can cost up to AED 700.
Emirates ID Fee: This will cost around AED 1,153.
Residency Confirmation Fee: To confirm 10-year residency, investors are required to pay AED 2,656.75.
DLD Fee: Up to AED 4,020 is also payable to the Dubai Land Department.
Administrative Fee: It can cost up to AED 1,155.

Note: The payments can be made via cash, credit card, or bank transfer.

3. How to Apply for Golden Visa UAE

This section entails comprehensive details to guide you through the step-wise process of the UAE Golden Visa Application for real estate investors;

STEP 1: Property Investment

Invest in a property worth AED 2M and ensure that the property purchased aligns with the criteria set by the officials. Following this, it is crucial to acquire the required documents, which include Title Deeds in all cases and a No-Objection Certificate (NOC) in some cases.

Step 2: Prepare Documentation

The Dubai Land Department has provided a detailed list of the documents required for submission. The documents include;

A passport
Title Deed
Owner’s Picture
Medical Issuance
UAE ID (if applicable)
Bank Statement

Step 3: Submit Initial Application

The initial application requires a submission at the General Directorate of Residency and Foreigners Affairs Dubai (GDRFA) or via the Emirate’s relevant authority department.

Step 4: Medical Examination

Medical Examination is the next necessary step for all applicants. It is advised that it be conducted at a government-authorized center.

Step 5: Visa Approval and Visa Stamping

After the application is approved, Golden Visa applicants must undergo a visa stamping process. Afterward, an Emirates ID will be issued, granting the visa holder 10-year residency. In case of the application rejection, applicants will be refunded 60% of the amount paid during the process.

How to Apply for Golden Visa UAE

4. Online Portals to Apply for Dubai Golden Visa

The officials have released a list of websites through which applicants can apply for Dubai Golden Visa. Some of these include;

Authorized typing centers
ICP official portal
Customer Happiness Center
UAEICP Mobile App
The GDRFA Dubai website
Abu Dhabi Residents Office

5. UAE Golden Visa Benefits

The UAE Golden Visa has been launched to increase the flow of foreign investors, entrepreneurs, and skilled individuals who want to come and make Dubai their home. However, the Golden Visa itself is a golden opportunity, but authorities have also associated certain benefits with it, some of which are specified;

Long-Term Residency: The Golden Visa for real estate investors grants them a 5- —or 10-year residency that can be renewed accordingly.
Family Sponsorship: Whether you want to call your wife along or parents for residence, Golden Visa holders have the advantage of sponsoring their family members. This is eligible for spouses, parents, and children.
Business Opportunities: Investors are enabled to establish and operate businesses without a local sponsor.
Security and Stability: The Golden Visa's advantages include security and stability, as it allows for long-term residency in a state with minimal crime rates.
Educational Opportunities: Through sponsorship, children of Golden Visa investor holders can gain access to top-notch educational institutions.
Enhanced Lifestyle: The Golden Visa ultimately results in residency acquisition, providing you with a key to Dubai’s vibrant environment, nightlife, and awe-inspiring exploration venues.
Travel Flexibility: Dubai Golden Visa holders can enjoy multiple entries and exits from the United Arab Emirates without any other visas.
Financial Advantages: Investors will thrive in a tax-free environment, with no capital gains tax or inheritance tax implications.
Healthcare Access: Holders of Golden Visa are provided with world-class medical services.
Investment Growth: Participating in Dubai’s thriving property market will ultimately result in potential returns on investment.
Shift of Residency Status: Golden Visa holders can also transfer their residency status to other Emirates, such as from Abu Dhabi to Dubai.

6. Dubai Golden Visa- A Permanent Residency Visa or not?

Dubai Golden Visa offers a residency permit for up to 10 years and does not fall under the permanent residency category. However, the renewal process is feasible and grantable after completing the same application process mentioned in the above section.

dubai golden visa

Dubai Golden Visa New Rules: 2024 Update

Recent updates to the Golden Visa plan for the UAE have been brought to modify and improve the attractiveness of investors.

Updated Eligibility Criteria: Recent updates have included off-plan properties, making qualifying Golden Visa applicants easier.
Increased Flexibility: According to the new modifications, Golden Visa holders or applicants can now hold joint properties, and properties purchased through mortgage payments are also considered for qualification.
Elimination of Minimum Down Payment: Previously, a down payment of AED 1 million was required to qualify for the Golden Visa program. This initiative has been eliminated due to new updates.
Improved Benefits: Additional benefits, such as expanded family sponsorships and enhanced business opportunities, are also included to make the Golden Visa more appealing to foreigners.
Streamlined Application Process: The application procedure has been simplified for 7-10 business days. This effort is brought to make Golden Visa more user-friendly.

1. Maintaining the UAE Golden Visa

Adherence to specified requirements is mandatory as per the UAE government after the applicants are granted a UAE Golden Visa. This prerequisite is crucial to sustain the residency status, including;

Residence in the UAE

Golden Visa holders are required to spend a particular time period in the UAE. Although there is no obligation regarding the number of days spent, it is suggested that they reside at least 6 months within the country every year.

Property Ownership

The property ownership must be retained for up to 3 years, at least from the date UAE Golden Visa is issued. The Visa may be revoked if the property is seen to be sold within the specified time limit.

Renewal Process

Golden Visa holders can renew their visas after every 5 or 10 years. The renewal period depends on the initial visa type and involves the same process from the start to the end.

2. Support Your Investment

Beyond the variety of investment options, UAE has also demonstrated numerous financing options to support your investment. The mortgage option includes other financing options to secure Golden Visa as a real estate investor. With a variety of financial institutions and banks granting mortgages, the subject itself involves further types;

Equity Release: This will allow you to utilize your equity from the current property to capitalize on a new investment.
Islamic Mortgages: This is the Sharia-compliant mortgage type, where you will be financed for investment under aspects like Murabaha and Ijara.
Conventional Mortgages: Another financing option is for banks and financial institutions to provide mortgages at variable or fixed interest rates. This type of mortgage is adequate for long-term investment plans.

Practical Tips for Dubai Golden Visa for Real Estate Investors

Investing in Dubai’s property requires sufficient knowledge and due diligence. We have compiled some tips that guarantee fruitful results for the Dubai Golden Visa.

Monitor Market Trends: Real estate success comes to those who are kept informed about every update regarding the economy or property sector.
Investment Diversification: It is advisable to undertake diverse property types when investing to mitigate risk.
Seek Advice from Experts: To gain insight into market trends, it is better to consult real estate experts, such as brokers and agents.
In-Depth Research: It is suggested to navigate property values and market trends to achieve desired outcomes.

1. VAT Considerations for Investors

Though UAE is free from income tax, inheritance tax, and capital gains tax, the officials have implied Value Added Tax (VAT), subject real estate transactions to these rules;

Mixed-Use Properties: The VAT varies according to the use of commercial and residential properties.
Commercial Properties: The VAT treatment on this aspect is around 5% on sales or renting of commercial units.
Residential Properties: Residential property types are typically exempt from Value Added Tax.

Closing In

The Golden Visa is a valuable and unique opportunity for real estate investors seeking long-term investment and residency in the world’s most attractive property market.

We hope the intricate details, requirements, benefits, and process of applying for a UAE Golden Visa discussed in this blog post will help real estate investors grab this golden opportunity. The visa holders of this category have ample opportunities and advantages with the Golden Visa.

Golden Visa UAE has consistently remained popular amongst entrepreneurs, talented individuals, and, most specifically, real estate investors, while the recent updates have boosted its appeal beyond.

Go through the complete guide for a detailed and accurate understanding of the Dubai Golden Visa so that real estate investors can make an informed decision. Invest in Dubai’s thriving real estate market, secure a Golden Visa, and make the most of the opportunities linked to the Visa.

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