There are a lot of factors to consider when you’re thinking about investing in property in Dubai, and one of the most important is the Golden Visa. This visa allows property investors from all over the world to come and invest in Dubai, and it can be a great way to get started in the city. Here’s what you need to know, this article is written for the purposes to provide awareness and insight for all property owners in Dubai concerning their eligibility to obtain the 10 years Golden Visa or the 5 years residency Visa.
The UAE has introduced the long-term residency visas in 2019 for certain individuals. The visas are renewable and are valid for 5 or 10 years depending on the kind of golden visa you are eligible for. These visas allow the holder to live and work in Dubai without the need for a sponsor. The golden visa also gives the holder’s family members residency rights in Dubai.
There are two types of golden visas available in Dubai:
1. The 10-year Golden Visa: Under the recent changes to the UAE Residence and Entry Scheme that was announced and effective as of October 3, property investors owning property worth AED 2 million or more are now eligible for the 10-year golden visa.
The eligibility for the 10 years Golden Visa are:
- The property must be worth AED 2 million or more.
- The property can be in any emirate of the UAE.
- If the property is mortgaged, at least AED 2 million of property value must be paid to the bank and provide a letter from the bank as a proof.
- If the property is off-plan, there should be a handover letter from the developer.
Benefits of Golden 10 years visa:
The golden visa gives the holder a number of benefits, including:
- The right to live and work in Dubai without the need for a sponsor.
- The right to sponsor your family members for residency in Dubai.
- Access to public healthcare and education in Dubai.
- Multiple-entry visa for 10 years that allows you to travel in and out of the UAE as you please.
- The ability to apply for UAE citizenship after 10 years.
2. The 5-year Golden Visa: The 5-year golden visa is available for property investors who own property worth AED 1 million or more in Dubai. This type of visa was introduced in May 2019 and allows the holder to live and work in Dubai without the need for a sponsor. The family members of the holder are also eligible for residency rights in Dubai.
The eligibility criteria for the 5 years Golden Visa are:
- The property must be worth AED 1 million or more.
- The property can be in any emirate of the UAE.
- If the property is mortgaged, at least AED 1 million of property value must be paid to the bank and provide a letter from the bank as a proof.
- If the property is off-plan, there should be a handover letter from the developer.
Benefits of Golden 5 years visa:
The golden visa gives the holder a number of benefits, including:
- The right to live and work in Dubai without the need for a sponsor.
- The right to sponsor your family members for residency in Dubai.
- Access to public healthcare and education in Dubai.
- Multiple-entry visa for 5 years that allows you to travel in and out of the UAE as you please.
- The ability to apply for UAE citizenship after 10 years.
With the new changes to the visa requirements, it is now easier than ever for property investors to obtain residency in Dubai. If you are thinking about investing in property in Dubai, be sure to check if you are eligible for the golden visa.
Our expertise will be guiding you through the entire visa process, from assessing your eligibility to ensuring that you have all your documentation in place and all the way up to gaining approvals from the authorities the authorities in the Dubai Land Department. The UAE Golden Visa entitles you to enjoy so many privileges; therefore, make sure you don’t miss out this opportunity.
For more information, please contact us to learn more about the Dubai Golden Visa and Investor’s Visa. Call us at +971527672677 or drop an email at [email protected] to get your queries
answered in no time. Additionally, you can visit our website www.azcorealestate.ae to check our services.
Obtain your Golden Visa now, with the AZCO Real Estate Brokers team.
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