The UAE’s Golden Visa has revolutionized residency options for expatriates, offering long-term benefits and access to a wide range of opportunities in one of the world’s most dynamic regions. For many expats, the possibility of securing residency through property investment has become a desirable and accessible path.
This article will answer the question, Can expats get Golden Visa through property investment in UAE? while providing a comprehensive breakdown of eligibility, benefits, application processes, and more.
What Is The UAE Golden Visa?
The UAE Golden Visa is a long-term residency program designed to attract and retain investors, entrepreneurs, skilled workers, and specialized talents. It grants individuals and their families the right to reside in the UAE for extended periods, offering benefits such as ease of doing business, tax advantages, and the possibility of owning property without the need for a local sponsor.
Introduced in 2019, the Golden Visa program aims to diversify the UAE’s economy by attracting foreign investment and expertise. One of the most popular routes to obtaining a Golden Visa is through property investment.
How Can Expats Obtain the UAE Golden Visa Through Property Investment?
Expats can qualify for the UAE Golden Visa by investing in real estate worth at least AED 2 million. This investment opens the door to a 10-year renewable residency visa, not just for the investor, but also for their immediate family, including spouses, children, and parents. The visa offers numerous benefits, such as the ability to live and work in the UAE without the need for a local sponsor.
It also provides the opportunity to own property and start a business, making it an appealing choice for those looking for long-term stability in the UAE. This pathway is ideal for those who wish to make the UAE their home while benefiting from its thriving economy and world-class infrastructure.
Key Requirements for the UAE Golden Visa Through Property Investment – Need To Know!
- Minimum Investment Value: The most crucial requirement is a minimum property investment of AED 2 million. This can be a single property or a combination of multiple properties. The value of the property or properties must meet this threshold to qualify for the visa.
- Eligible Properties: Both residential and commercial properties are eligible for the Golden Visa. However, they must be located in designated freehold zones, such as Dubai, Abu Dhabi, and Sharjah, where foreign ownership is permitted.
- Financing Options: Expats can finance the property purchase through a mortgage with an approved UAE bank. However, to qualify for the visa, the investor must meet the required down payment as per UAE mortgage regulations.
- Property Retention: The investor must hold onto the property for at least two years. If the property is sold within this period, the visa could be revoked.
- Off-Plan Properties: Off-plan properties are eligible as long as the construction is at least 50% completed by the time the application for the Golden Visa is submitted.
- Additional Options: In some cases, a property worth AED 2 million may also qualify the investor for a 5-year residency visa, as confirmed by the Land Department. Additionally, properties worth AED 750,000 can grant a 2-year residency visa.
What Are The Benefits Of The UAE Golden Visa?
The UAE Golden Visa offers several significant benefits, making it an attractive option for expats. It provides long-term residency for up to 10 years, which can be renewed, allowing expats to enjoy stability and security in the UAE. Golden Visa holders can sponsor their families, including spouses, children, and parents, making it easier to live together.
It also gives holders the freedom to work, start a business, or invest in the UAE without the need for a local sponsor. Additionally, holders gain access to world-class healthcare and education, as well as the opportunity to live in a dynamic and rapidly growing economy.
How To Apply For The UAE Golden Visa Through Property Investment?
The application process for obtaining a UAE Golden Visa through property investment involves several steps. Here’s a breakdown of what you need to do:
Property Acquisition:
The first step is to purchase a property in one of the approved freehold zones. The property must meet the minimum investment value of AED 2 million. Ensure that you have all necessary documents for the property, including proof of ownership.
Register the Property:
Once you’ve purchased the property, you need to register the title deed with the relevant authorities. This is an essential step before proceeding with the visa application.
Submit Your Application:
After the property is registered, submit your Golden Visa application to the UAE immigration authorities. The required documents typically include:
- Proof of property ownership
- Passport copy
- Proof of income and financial stability
- Medical fitness test
- Emirates ID application
Medical Fitness Test:
As part of the application process, you and your family members must undergo a medical fitness test to ensure that you meet the health requirements set by the UAE.
Receive Your Emirates ID:
Once your application is approved, you will receive an Emirates ID, which serves as your official identification in the UAE. The Golden Visa will be linked to your Emirates ID.
Visa Issuance:
After completing the above steps, the final step is the issuance of your 10-year Golden Visa, allowing you and your family members to live, work, and invest in the UAE.
Additional Visa Options – Alternatives to the AED 2 Million Investment!
While AED 2 million is the standard amount for a long-term Golden Visa, there are other options available for those who wish to invest less.
The 5-Year Golden Visa:
In some cases, a 5-year Golden Visa may be available for properties worth AED 2 million. However, this option is subject to confirmation from the Land Department.
The 2-Year Residency Visa:
For those who are looking for a shorter residency period, the UAE offers a 2-year residency visa for properties worth AED 750,000. This is a more affordable option but does not provide the long-term stability of the 10-year Golden Visa.
FAQs:
Are off-plan properties eligible for the Golden Visa?
Yes, off-plan properties can qualify for the Golden Visa as long as 50% of the construction is completed by the time the visa application is submitted. This gives investors flexibility in their property choice.
Can I sell the property after I get the Golden Visa?
The property must be retained for at least two years after purchasing. If it is sold before the retention period, the Golden Visa may be revoked, so long-term investment is encouraged.
How long is the UAE Golden Visa valid?
The UAE Golden Visa granted through property investment is typically valid for 10 years. It is renewable as long as the investment criteria are maintained, offering long-term residency benefits.
Can I work or start a business with the UAE Golden Visa?
Yes, the Golden Visa provides you with the right to work and run your own business without needing a local sponsor. This gives investors more freedom and opportunities to establish their ventures in the UAE.
Conclusion:
Expats can indeed obtain a UAE Golden Visa through property investment, offering a long-term residency solution for individuals looking to settle in the UAE. With a minimum investment of AED 2 million, expats can unlock a world of benefits, including business opportunities, family sponsorship, and access to top-tier healthcare and education.
As the UAE continues to position itself as a global hub for investment and innovation, the Golden Visa remains an attractive option for expats seeking both residency and investment returns.