The UAE’s golden visa program is one of the most appealing long-term residency options globally. It attracts a diverse range of expatriates, including entrepreneurs, professionals, high-net-worth individuals, and international investors, all seeking its exclusive benefits. However, along with its many advantages and flexibility comes a significant investment threshold. For real estate investors aiming for a UAE Golden Visa, there are specific prerequisites to meet.
Eligibility Criteria for UAE Golden Visa for International Investors
To secure a UAE Golden Visa, it is essential to first pay for the property or meet the mortgage criteria. Moreover, securing property and location approval from the Dubai Land Department (DLD) is crucial. Only registered developers can issue off-plan properties that qualify for an investor visa. It’s important to note that some rules and regulations may vary depending on whether you are applying for a 5-year or a 10-year golden visa. Below is a detailed guide on the eligibility criteria for both.
10-Year Golden Visa
To qualify for the prestigious 10-year golden visa, you need to invest a minimum of AED 2 million in real estate, which is roughly equivalent to $545,000. You have the option to either invest the entire amount in one property or spread it across multiple properties.
Both ready properties and off-plan projects are eligible investment options, but there are specific ownership conditions to consider. Investors must be the sole owners of the property to qualify for a UAE Golden Visa. Joint ownership is permitted, but each investor must still contribute at least AED 2 million. If you choose to finance your Dubai real estate investment, you need to pay AED 2 million upfront and obtain a No-Objection Certificate from the mortgage bank.
5-Year Golden Visa
For the 5-year golden visa, the minimum investment required is AED 1 million, which equates to approximately $204,000. This lower investment threshold comes with added flexibility, allowing co-ownership with a spouse, making it easier to subsidize. To qualify under this provision, you must provide a marriage certificate. If co-owning with someone other than a spouse, each investor must still invest at least AED 1 million for their visa.
5-year residency visa allows investment in both ready and off-plan properties, provided they meet DLD approval. Both residential and commercial properties are eligible as long as the investment meets the required amount. If you are considering financing, remember that you need to pay at least 50% of the property’s total value upfront.
How to Get a UAE Golden Visa via Real Estate Investment
If you meet the investment criteria and the necessary amount, applying for a UAE Golden Visa can be straightforward. Here’s a step-by-step guide to help you navigate the application:
Purchase a Qualifying Property
The first step towards securing your investor visa is to buy an eligible property. To qualify, you need to invest in a DLD-approved property. The investment threshold varies based on the type of visa you’re seeking:
- 10-Year Golden Visa: Invest AED 2 million or more.
- 5-Year Golden Visa: Invest AED 1 million or more.
Moreover, you can choose to invest in both residential and commercial properties, provided they meet the required value. You can also combine multiple properties to reach the investment threshold. However, when purchasing a property, ensure that:
- Ready Properties: They must be fully constructed and come with a title deed issued by the Dubai Land Department.
- Off-Plan Properties: They should be from a DLD-approved developer, and at least 50% of the payment needs to be clear.
Obtain a Title Deed from DLD
After purchasing a qualifying property, the next step is to register it with the DLD and acquire a title deed. This document is essential for verifying your property ownership and moving forward with your Golden Visa application. To obtain a title deed, you need to:
- Pay a registration fee, which is approximately 4% of the property value.
- Complete a property valuation if you are mortgaging your investment.
- Submit necessary documents, including the sales and purchase agreement.
Once registered, you will receive your title deed, which is crucial for your residency visa application. Remember, if your property is off-plan, your developer must provide a property reservation contract and proof of completed payments.
Secure an NOC from the Bank
If you financed your property with a mortgage, there’s one more step before applying for your UAE Golden Visa. You’ll need a No Objection Certificate (NOC) from your bank to confirm your mortgage payment status. For the NOC:
- If you are aiming for a 10-Year Golden Residency Visa, ensure that you’ve paid off AED 2 million upfront.
- For a 5-Year Residency Visa, at least 50% of the property value should be paid upfront.
Contact your bank to request the NOC, which should verify that your mortgage payments are up-to-date. Once confirmed, the bank will issue the NOC, a mandatory document for your visa application.
Documents Required for Visa Application
If you’re applying for the UAE Golden Visa through real estate investment, it is essential to gather the following documents:
- Title Deed: Proof of property ownership issued by the Dubai Land Department.
- Proof of Investment: This can be a sale and purchase agreement or a property valuation certificate.
- Bank Statement or Payment Receipt: This should show that the AED 2M investment has been paid in full.
- Valid Passport Copy
- UAE Visa Copy (If applicable)
- Emirates ID (If applicable)
- Recent Passport-Sized Photos: Must meet UAE visa requirements.
- Health Insurance: A requirement for Golden Visa approval.
- Good Conduct Certificate: A police clearance from UAE authorities, if requested.
- Power of Attorney: If someone else is assisting you with the application.
- No-Objection Certificate (NOC): From the bank if mortgaging the property
Applying for the UAE Golden Visa
Once you have obtained a Title Deed and NOC, along with all the necessary supporting documents, you can start the application process for the UAE Golden Visa. There are three primary ways to apply, which grant a 10-year and a 5-year residency visa:
- In-Person Application: Visit the nearest Dubai Land Department (DLD) service center to submit your application.
- Online Application: For those who prefer convenience, you can apply from the comfort of your home. Simply visit the General Directorate of Residency and Foreigners Affairs (GDRFA) website or use their smart app.
- Specialized Center: Alternatively, you can apply through the Dubai Real Estate Promotion Center (Cube), which facilitates Golden Visa applications.
Residency Visa Approval & Issuance
After submitting your application online or in person, you should allow a processing time of approximately 7 to 30 days. This duration largely depends on the verification of your documents and the results of your medical tests.
Your application will undergo a thorough verification process conducted by the DLD and GDRFA. Additionally, you will need to complete a medical fitness test and biometric registration for your Emirates ID.
Upon successful verification of documents and completion of tests, you will receive either a 5-year or 10-year UAE Golden Visa. The final steps in this process include visa stamping in your passport and the issuance of your Emirates ID.
