How To Get UAE Golden Visa
Everything You Need to Know About Getting the Golden Visa in UAE
Discover the Benefits and Steps to Secure the UAE Golden Visa for Investors
The UAE Golden Visa offers unparalleled stability and security for investors and their families, enabling them to establish long-term roots in the UAE. This visa provides a premier long-term residence permit, free from the limitations of short-term visas, making it easier to build a life and legacy in Dubai. At Casabella Property Broker, we guide you through every step of obtaining this premier long-term residence permit, ensuring a smooth and hassle-free process.
Dubai’s thriving business ecosystem welcomes Golden Visa holders to launch new ventures and contribute to the city’s economic expansion. This program encourages active participation in the business landscape, providing investors with ample opportunities to grow their wealth. Additionally, Golden Visa holders can sponsor family members, including spouses and children of all ages, ensuring unity and togetherness. Domestic helpers can also be sponsored without restrictions, enhancing the family’s experience and quality of life in Dubai. In the event of the primary Golden Visa holder’s passing, family members can continue to reside in the UAE until the visa’s duration concludes. This provision demonstrates the emirate’s commitment to supporting investors and their families, ensuring stability and continuity.
Recent Down Payment Rule Change
The recent elimination of the AED 1 million (US $272,000) minimum property down payment requirement for the Golden Visa has boosted its appeal. This change has attracted a diverse array of property investors, particularly affluent retirees drawn to Dubai’s high-quality lifestyle, top-tier healthcare, and cultural offerings. The simplified acquisition process is expected to stimulate new construction projects, create job opportunities, and bolster the economy. Casabella Property Broker keeps you informed about these changes and helps you take advantage of the new opportunities, simplifying your path to residency in Dubai.
Duration and Renewal
Investors can secure a Golden Visa valid for either 5 or 10 years, with the convenience of renewal. Unlike traditional visas, the Golden Visa does not require a sponsor, and holders can stay outside the UAE for any length of time without invalidating their visa.
Eligibility Criteria
To qualify for the Golden Visa, investors must meet the following conditions:
Property Ownership: Owning real estate valued at AED 2 million or more, which can include residential, commercial, or mixed-use properties.
Medical Insurance: Complying with the mandatory medical insurance requirement for the investor and their family.
Benefits for Golden Visa Holders
Extended Residency: A valid visa for 5 to 10 years, easily renewable.
No Sponsorship Required: Live in the UAE without needing a sponsor.
Freedom to Travel: Stay outside the UAE for more than 6 months without affecting your visa status.
Family Sponsorship: Sponsor family members of all ages, ensuring they can stay with you in the UAE.
Casabella provides comprehensive support to maximize these benefits, making your residency experience seamless and enjoyable.
Application Process
When to Apply?
Investors can apply for the Golden Visa once they own a piece of real estate in the UAE. The application process includes acquiring a letter from the Dubai Land Department (DLD) proving property ownership valued at AED 2 million or more, and purchasing a property through an authorized local bank loan if applicable.
Application Steps
- Acquire a property valued at AED 2 million or more.
- Obtain a letter from the DLD confirming property ownership.
- Comply with medical insurance requirements for the investor and family.
- Submit the application through the relevant UAE government portals.
Process Fees
The fees for obtaining a Golden Visa are as follows:
Government Fees: Estimated at AED 10,500, including Emirates ID, Visa, and VIP Medical.
Service Fee: AED 5,000 + VAT.
For more detailed information on the UAE Golden Visa and to start your application, contact Casabella Property Broker today. Secure your future and take advantage of the unparalleled opportunities Dubai has to offer.
At Casabella Property Broker, we are committed to helping you secure your future in Dubai. Contact us today to start your Golden Visa application and take advantage of the unparalleled opportunities the UAE has to offer.
For more detailed information on the UAE Golden Visa and to start your application, reach out to Casabella Property Broker. Let us help you navigate this process smoothly and efficiently, ensuring a bright future in Dubai.
Frequently Asked Questions
What are the requirements for foreigners to buy property in Dubai?
Foreigners are permitted to buy property in designated freehold areas in Dubai. To do so, you must present a valid passport. There are no restrictions on nationalities for property ownership, and both residents and non-residents can purchase property. However, financing options may vary depending on your residency status, and non-residents might face higher down payment requirements.
Should I Buy Off-Plan or Ready Property?
The choice between off-plan and ready properties depends on your budget, goals, and timeline. Here’s a brief overview:
Ready Properties
Ready properties are fully constructed and available for immediate occupancy. If you’re looking for a home to move into right away or seeking immediate rental income as an investor, ready properties are a great option. Dubai offers a wide range of ready properties, including urban apartments, beachfront homes, and villas in tranquil settings. Buyers often benefit from a high loan-to-value (LTV) ratio, making it easier to secure a mortgage. Explore ready properties for sale in Dubai here.
Off-Plan Projects
Off-plan properties are those that are under construction or planned for future development. Dubai’s off-plan market is thriving, with new developments announced regularly. These properties often come with flexible payment plans, allowing buyers to secure prime units with smaller upfront payments. Off-plan investments can offer high rental returns, strong ROI, and significant capital appreciation upon completion. Explore the latest off-plan properties in Dubai here.
What is the process for obtaining a mortgage in Dubai?
To obtain a mortgage in Dubai, you need to start by getting pre-approved by a bank or mortgage lender. This process includes providing proof of income, bank statements, a valid ID or passport, and credit history. The bank will assess your financial standing and determine the mortgage amount you qualify for. Once pre-approved, you can proceed to find a property within your budget. After selecting a property, a formal mortgage application is submitted, followed by a property valuation and final approval from the lender.
What types of properties can foreigners buy in Dubai?
Foreigners can buy various types of properties in designated freehold areas in Dubai, including apartments, villas, townhouses, penthouses, and commercial properties. Freehold areas are specific zones where foreign nationals can own property with full ownership rights, similar to those enjoyed by UAE nationals. These areas include popular locations like Dubai Marina, Downtown Dubai, Palm Jumeirah, and Jumeirah Lakes Towers, among others. It’s important to work with a knowledgeable real estate agent to explore the best options available in these areas.
How long does it take to complete a property purchase in Dubai?
The time it takes to complete a property purchase in Dubai can vary depending on several factors, such as the type of property, the buyer’s financing method, and the seller’s circumstances. Generally, a cash purchase can be completed within 30 to 60 days. If you’re buying with a mortgage, the process might take longer, typically around 60 to 90 days, due to the additional steps involved in mortgage approval and property valuation. Working with an experienced real estate agent can help streamline the process and ensure a smooth transaction.
Want to apply golden visa today?
Connect with our team at Casabella Property Broker for personalized advice and support throughout your property purchase journey.
