Golden visa in the UAE through property investment- An in-depth guide

Global investors and entrepreneurs are increasingly turning their attention to the United Arab Emirates (UAE) due to its flourishing economy and business-friendly atmosphere. This growing interest has led the government to introduce the 10-Year Golden Visa in the UAE for Investors, a significant initiative particularly in Dubai, crafted for individuals eager to explore investment avenues or establish businesses in the region. In the sections below, we delve into the essential prerequisites and advantages associated with this coveted long-term residency option.

Qualifying Criteria:
Golden Visa in the UAE through Property Investment: This unique Golden Visa in the UAE can be obtained by investing in a property in Dubai valued at a minimum of 2 million AED, with the flexibility to include multiple properties under the applicant’s name.
Golden Visa for Mortgaged Property: For mortgaged properties, the bank or developer must receive a payment of at least 1 million AED of the property’s total value. Successful visa application processing requires the submission of a No Objection Certificate (NOC) letter and proof of payment.

Residency Presence: Applicants are required to be physically present in the UAE. Couples have the option to jointly participate in property ownership, necessitating the provision of an attested marriage certificate.

Golden Visa Title Deed Requirements: Title deed owners can apply if the market value exceeds 2 million AED. Jointly owned title deeds are acceptable, provided the applicant’s share meets the minimum value.

Matching Documentation: The name on the title deed must correspond to the name in the passport of the applicant.

Documentary Requirements: To initiate the 10-Year Golden Visa in the UAE application, gather the following documents:

Title Deed: Demonstrate a property value in Dubai of at least 2 million AED.

Identification: Provide a clear passport copy (valid for more than 6 months), an old Emirates ID if applicable, and a high-quality digital photo meeting ICP specifications.

National ID (for specific countries): Applicants from Iran, Pakistan, Iraq, Libya, and Afghanistan must provide their National ID.

Health Insurance: Secure compulsory medical insurance from any UAE insurance company.

Benefits of the 10-Year Golden Visa in the UAE for Investors:
Extended Stay Outside UAE: Enjoy the flexibility of no time limit for staying abroad without jeopardizing Golden Visa status.
Safety and Security: Experience Dubai’s low crime rate, ensuring a secure environment for Golden Visa holders.
Sponsorship Privileges: Leverage the opportunity to sponsor up to 3 housemaids and drivers, sponsor family members for the entire 10-year Golden Visa period, and sponsor dependents (boys and girls) for the same duration as the sponsor’s Golden Visa validity.
Parental Sponsorship: Take advantage of the privilege to sponsor parents for a 10-year Golden Visa.
Driving license without undergoing lessons : is possible for Golden Visa holders in Dubai with a valid foreign driving license. Simply enroll at a driving institute in Dubai, where as a registered student, you can skip classes and proceed to apply for the knowledge (theory) and road tests. Successfully passing these tests enables you to obtain your UAE driving license.

Conclusion: The 10-Year Golden Visa in the UAE for Investors provides a golden opportunity for those seeking long-term residence in a thriving and secure environment. Given the specific requirements, applicants should ensure meticulous compliance and consider the numerous benefits this Golden Visa category offers, ranging from extended stays to valuable sponsorship privileges.

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    It is crucial to comprehend the distinction between obtaining a license with a visa quota and acquiring residency in the UAE. A license with a visa quota solely covers the expenses related to a business license and visa quota, with the possibility of including a Flexi office lease in certain Freezones. However, possessing a visa quota does not automatically grant you UAE residency; additional steps must be completed. If you wish to apply for a partner/investor visa, there are supplementary costs involved. These include obtaining an immigration card, registering for E-channel (NE Only), and paying fees for visa, visa processing, medical examination and Emirates ID typing. To effectively plan your business expenses, it is imperative to ask the right questions from the beginning to avoid surprises and hidden costs.