Golden Visa Dubai: new investor-friendly rule
Excellent news for investors! The Dubai Government has decided to relax the rules for obtaining the Golden Visa. Dubai Immo takes a look at the updated eligibility requirements for the Dubai Golden Visa, and what this means for real estate investors.
Reminder: what is the Dubai Golden Visa?
This is a 10-year resident visa, for which real estate investors are eligible, as well as people in certain professions, such as doctors, researchers or artists. The advantages of the Dubai Golde Visa are many: guaranteed residence for 10 years for the investor and his family, the possibility of opening a bank account, working in the Emirates, etc.
Golden Visa: what changes have been announced?
The Dubai authorities have announced that anyone who has made a real estate investment of AED 2,000,000, or around €500,000, is eligible for the Golden Visa. This applies even if they have a payment plan or have taken out a loan. Previously, investors had to have paid at least €250,000 of the €500,000 required to receive their Golden Visa. This clause is now a thing of the past. Investors can now apply for their Golden Visa after having paid their first instalment, their notary fees (DLD) and signed their final purchase contract.
What does this mean for investors?
This change in the rules for obtaining a Dubai Golde Visa will enable investors to benefit from their resident visa much more quickly. The change is also significant for investors who have taken out a mortgage. They will not need to have paid more than AED 1,0000,000, and will be able to apply for their visa immediately after the transfer, if the value of the property exceeds AED 2,000,000.
New Golden Visa: what impact on the Dubai real estate market?
This should help boost investment, which is still very buoyant at the start of 2024. The Government of Dubai holds all the cards to support investors or boost them if need be. With this new investor-friendly measure, the Dubai Government is once again proving its ambition and objectives: to increase Dubai's population by attracting the wealthiest investors and encouraging them to settle in Dubai.
