Property Investors: UAE Cancels Minimum Down Payment for Golden Visa

Dubai, a city renowned for its luxurious living and extraordinary structures such as the iconic Burj Khalifa, stands as a symbol of architectural marvels, lavishness and prosperity. Venturing boldly into real estate and property development, Dubai positions itself for transformative growth and lucrative opportunities.

As reported by The National News, the UAE initiates a strategic overhaul, reshaping the landscape of real estate.

In a groundbreaking move, the UAE cancels the minimum down payment requirement for property investors pursuing Golden Visas. This decision, reverberating globally, mirrors the UAE's progressive stance, providing property investors with a more accessible pathway to coveted Golden Visas.

The allure of Dubai is expanding, indicating a surge in interest among property investors, eyeing investments in Dubai, coupled with the added advantage of securing long-term residency.

Who can apply for a UAE Golden Visa?

The Golden Visa initiative in the UAE stands as a comprehensive program, providing foreign talents a route for extended residence with an array of privileges.

1. Investors in Public Investments
2. Entrepreneurs
3. Outstanding Specialized Talents
4. Executive Directors, Athletes, and Specialists in Engineering and Science
5. Outstanding Students
6. Pioneers of Humanitarian Work and Frontline Heroes
7. Real Estate Investors

UAE Golden Visa Benefits

• Six-month entry visa with multiple entries to proceed with residence issuance
• Renewable 5 or 10-year residence permit
• Freedom from sponsorship requirements
• Extended stay flexibility beyond the standard six months abroad
• Authority to sponsor family members, regardless of their ages

The Golden Visa permits the sponsorship of an unrestricted number of domestic helpers, allowing an easy transition for those embraced by this program and extending its authorization to family members. This grants them the privilege to remain in the UAE until the conclusion of the Golden Visa, in the event of the primary visa holder's unfortunate passing.

Advantages that Come Bundled with a Golden Visa in the UAE

• 0% Tax on Property
• Dubai, among the world's safest countries
• A booming economy that's among the fastest growing
• Exceptional ROI on Investment
• World-class Infrastructure
• Strategic location for unparalleled opportunities

UAE Golden Visa Eligibility

Acquiring a Golden Visa in the UAE diverges based on the applicant's profile, spanning investors, talents, entrepreneurs, and more.

Investors in Public Investments

A golden opportunity of a 10-year visa without a sponsor is available for investors in public funds. The stipulations include proof of a substantial AED 2 million deposit or a valid commercial/industrial license. Investing in an accredited investment fund can secure a 10-year Golden Visa, free from sponsorship, contingent upon:

• Presentation of a letter from a UAE-accredited investment fund confirming a deposit of AED 2 million.
• Submission of a valid commercial or industrial license with a memorandum of association, affirming the investor's capital is not less than AED 2 million.
• A letter from the Federal Tax Authority validating an annual contribution of no less than AED 250,000.

Moreover, investors must wholly own the invested capital, demonstrate it is not a loan, and provide medical insurance proof for themselves and their family.

Entrepreneurs

Entrepreneurs can attain a 5-year Golden Visa by owning a forward-looking economic project based on risk and innovation. Requirements include approval letters from:

• A UAE auditor confirmed the project's value exceeds 500,000 dirhams.
• Emirate authorities affirming the project's technical or futuristic nature.
• An accredited UAE business incubator endorsing the proposed activity.

Outstanding Specialized Talents

This category encompasses professionals such as doctors, scientists, cultural and artistic creatives, inventors, executives, scientific specialists, athletes, doctoral degree holders, and those in engineering and scientific fields. The latter includes expertise in epidemiology, viruses, artificial intelligence, big data, and more.

Eligibility for a 10-year Golden Visa depends on specific requirements for each category:

• For doctors and scientists: Approval from the Ministry of Health and Prevention or recognition from relevant scientific bodies.
• Inventors need a recommendation from the Ministry of Economy validating the economic value of their patent.
• Cultural and artistic creatives require approval from the Department of Culture and Arts in their emirate.

Related services include applications for creative talent accreditation, endorsement certificates, and recommendation letters for the Golden Visa request.

Executive Directors, Athletes, and Specialists in Engineering and Science

• Executive Directors need a recognized university degree, five years of experience in the same position, a salary of at least AED 50,000, and a valid work contract.
• Athletes require a recommendation letter from sports authorities.
• Specialists in engineering and science need a certified bachelor's or master's degree and a valid work contract.

Outstanding Students

High school students achieving top national-level grades can obtain a 5-year Golden Visa, extendable if enrolled in majors requiring more than five years of study.

Outstanding university students can secure a 10-year Golden Visa without a sponsor if their university is rated A or B class by the Ministry of Education, and they present a recommendation letter or accredited academic records. Outstanding students from foreign universities with a top 100 global rating can also obtain a 10-year Golden Visa.

Pioneers of Humanitarian Work and Frontline Heroes

Pioneers of humanitarian work, including those working for international organizations or receiving awards for their contributions, can obtain a 10-year Golden Visa. Frontline heroes, such as medical professionals displaying extraordinary efforts during crises like the COVID-19 pandemic, can also secure the Golden Visa with a recommendation from a competent authority.

Dubai Real Estate Investors

Meanwhile, for proprietors of individual properties or property portfolios, the prospect of securing a Golden Visa presents itself. This visa spans a 5-year duration, subject to renewal under identical terms and free of the necessity for a sponsor. To qualify, investors must adhere to the following criteria:

• Submission of an official letter from the land department of the respective emirate affirming ownership of one or more properties with a cumulative value not falling below 2 million dirhams.
• Acquisition of a property through a loan facilitated by select local banks, as endorsed by the competent local entity.

Requirements:

To secure an Investor Visa in the UAE, several criteria must be met:

1. Property Valuation
   • Property in Dubai must be valued at a minimum of AED 2 million.
   • Acceptance of multiple properties under the applicant's name.
2. Developer or Bank Mortgage
   • If the property is purchased through a developer or bank mortgage, a statement of account from the developer or a Bank NOC is necessary for the Residence visa application.
3. Location of the Person
   • The individual must be physically present inside the UAE.
4. Joint Participation
   • Husband and wife can jointly participate in one property.
   • Requires a marriage certificate attested from MOFA and legally translated into Arabic.
5. Equal Property Share
   • In cases of joint ownership between Husband & Wife, property shares must be equal.
   • If not equal, the primary visa holder will be the highest shareholder, allowing them to sponsor the other party (spouse).
6. Title Deeds Ownership
   • Owners of title deeds can apply for a Golden Residence Visa if the market value exceeds AED 2 million.
   • An official evaluation certificate is mandatory for this.
7. Joint Title Deeds
   • Joint title deeds are acceptable, with the applicant's share being a minimum of AED 2 million.
   • The name on the title deed must match the name in the applicant's passport.

Golden Visa Required Documents

1. A passport
2. Availability of an e-Certificate of Title / Title deed
3. A personal photo
4. UAE ID (if any)
5. A copy of the current residence permit (if any).

For those looking to seize this golden opportunity, explore your real estate options with AQUA Properties.

FAQs

What is the minimum amount to invest for a 10-year Property Investor Visa in the UAE?
To be eligible for the 10-year Property Investor Visa, a minimum investment of AED 2 million in Dubai is required.

Is a 10-year Investor Visa the same as having a Golden Visa in Dubai?
Yes, a 10-year Investor Visa is synonymous with having a Golden Visa in Dubai.

Can I sponsor my family with a UAE Investor Visa?
Certainly. If you hold a Property Investor Visa in the UAE, you can sponsor your spouse and children for a 10-year period.

What are the different types of Investor Visas in the UAE?
The UAE offers several types of Investor Visas, including:

• 10-year Investor Visa
• 5-year Retirement Visa
• 2-year Investor Visa

Can I work in Dubai in any company with an Investor Visa?
Yes, holders of a Dubai Investor Visa have the privilege to both live and work in Dubai. However, approval from the Ministry of Human Resources and Emiratisation (MOHRE) is mandatory.

Do I need to visit Dubai every 6 months to keep my Investor Visa valid?
The latest update from the Federal Authority for Identity and Citizenship (ICA) stipulates that there is no restriction on the duration spent outside the UAE. Holders can stay for an unlimited period outside the country.

Is it possible to apply for an Investor Visa if the person is outside the country?
Unfortunately, no. Physical presence within the country is a prerequisite for applying for an Investor Visa. The individual must remain in the country throughout the completion of the residency procedures, with no permitted travel during the process.

Interested in investing in Dubai and taking advantage of this golden opportunity? Contact us now: https://aquaproperties.com/contact-us.