Exclusive Developments in UAE Golden Visa for Real Estate Investors: 2024 Opportunities

What is the UAE Golden Visa?

The UAE Golden Visa is a prestigious residency permit granted by the government to individuals meeting specific criteria. Introduced in 2019, it offers extended residency in the UAE, along with privileges such as employment, education, and property ownership without the need for a local sponsor. Originally aimed at attracting exceptional talent globally, the Golden Visa has evolved into a coveted opportunity for various categories, including investors, entrepreneurs, and skilled professionals.

Recent Updates with the UAE Golden Visa and Eligibility Criteria

Recent amendments to the UAE Golden Visa program, particularly concerning property ownership, mark a significant shift in accessibility and eligibility criteria. These updates aim to enhance accessibility and inclusivity, particularly for real estate investors. Here’s a breakdown of the key changes:

Elimination of Minimum Down Payments: Previously, a substantial down payment was required, acting as a barrier for many prospective investors. However, this requirement has now been lifted, making the Golden Visa program more attainable for a wider range of individuals.

Acceptance of Mortgaged Properties: Recognizing the evolving landscape of real estate financing, the revised program now considers properties with existing mortgages, provided their total value exceeds Dh2 million. This adjustment encourages participation from investors utilizing mortgage facilities, fostering inclusivity within the program.

Potential for Automatic Issuance: While still in the developmental phase, the proposed automatic issuance of Golden Visas for property owners with substantial holdings presents a promising prospect for streamlining the application process. This feature aims to expedite visa acquisition and enhance convenience for eligible investors.

Benefits of the UAE Golden Visa for Investors

The UAE Golden Visa offers a myriad of benefits for investors, including:

  • Long-term residency for up to 10 years, with automatic renewal upon meeting specific criteria.
  • Self-sponsorship, allowing investors to take full ownership of their business ventures.
  • The ability to sponsor family members, including spouse and children, without age restrictions.
  • An opportunity to diversify investment portfolios and capitalize on the UAE’s thriving real estate market.

Eligibility Criteria for Real Estate Investors

To qualify for the UAE Golden Visa as a real estate investor, individuals must meet one of the following criteria:

  • Purchase a property worth at least AED 2 million.
  • Acquire a property with a loan from specific local banks.
  • Invest in one or more off-plan properties with a total value of at least AED 2 million from approved local real estate companies.

Golden Visa Eligibility 

It’s easy to get enamored with the UAE Golden Visa. We all want one. However, you must meet certain requirements to qualify for the most-coveted visa in the UAE. 

Do you nod a “Yes” to any of the following statements?

  • You withdraw a monthly salary of at least AED 50,000. 
  • You are either Director, General Manager, or Chairman of the Board of Directors. 
  • You have a 2 million AED fixed deposit in your name with the bank. 
  • You (or jointly with your spouse) own AED 2 million worth-property in the UAE. 
  • You own one or more off-plan properties purchased from authorized local real estate companies for at least AED 2 million. 
  • You are a medical doctor, specialist, scientist, innovator or creative person in Culture or Arts related fields. 
  • You hold a doctoral degree (PhD). 
  • Are you inside the UAE?

Or simply get in touch with Adam Global to find out your eligibility.

Requirements and Steps to Get UAE Golden Visa in UAE 

Post document submission, the Federal Authority for Identity and Citizenship will review your application, ensuring a seamless verification process. In just a few weeks, your Golden Visa will be in your hands. 

For those already in the UAE, a provisional one-month visa is granted. It’s essential to transition this temporary visa to a residency permit within the stipulated timeframe. 

Real Estate Investors

– Title DEED from the land department confirming ownership of property valued at not less than 2 million dirhams.  

– Property purchase with a loan from specific local banks approved by the competent local entity.

Documents Required for UAE Golden Visa in 2024 

The documents required by entrepreneurs for the UAE Golden Visa in 2023 are as follows: 

  • Passport copy (with a minimum validity of 6 months) 
  • Passport-sized photograph. 
  • Proof of investment (for investors) 
  • Business plan and investment of not less than AED 500,000 (for entrepreneurs) 
  • Proof of education and work experience with minimum salary of 30000 AED (for highly skilled professionals) 
  • Proof of registration of the startup in the UAE 
  • Proof of annual revenue of at least AED 2 million for investors
  • For Property investors minimum 2 million AED worth of property value in UAE.
  • Clean criminal record 

How Do the New Rules Boost Real Estate Investment?

The recent revisions to the Golden Visa program have significant implications for real estate investment in the UAE. By removing minimum down payment requirements, expanding eligibility criteria, and potentially introducing automatic issuance mechanisms, the program aims to stimulate activity within the real estate sector. This fosters inclusivity, promotes investment, and contributes to the growth and development of the market.

1. Enhanced Accessibility

   The removal of financial barriers and the inclusion of diverse property types broaden the demographic of potential Golden Visa applicants. This increased accessibility fosters inclusivity and promotes participation among a wider pool of investors.

2. Stimulated Real Estate Market

   The expanded eligibility criteria are anticipated to stimulate activity within the UAE’s real estate sector, particularly in the off-plan segment. By incentivizing property ownership as a pathway to residency, the program may contribute to heightened demand, driving growth and development in the market.

3. Simplified Application Process

   If implemented, the automatic issuance mechanism has the potential to streamline the visa application process significantly. This streamlined approach not only reduces administrative burdens but also enhances the overall efficiency of the program.

Tips from Adam Global for entrepreneurs who are applying for the UAE Golden Visa: 

  • Start the application process early. The application process can take several weeks or months, so it is important to start early. 
  • Get all the required documents in order. Make sure that all the required documents are complete and accurate. 
  • Have your documents translated into Arabic or English. If your documents are not in Arabic or English, they must be translated into one of these languages. 
  • Hire a consultant like Adam Global. This will help you in the application process and ensure that you are meeting all the requirements. 

Why Choose Adam Global? 

For entrepreneurs navigating the Golden Visa application process, Adam Global stands as a reliable partner offering unparalleled expertise, tailored solutions, a global network, and comprehensive services. With Adam Global, clients can expect guidance through every step, ensuring a smooth and successful journey towards securing the UAE Golden Visa.

Through Golden Visa Services Providers in Dubai such as Adam Global:

1. Simply get in touch

2. Share your requirements and documents as needed

3. Make payments + service fees

4. And wait for the approval

Conclusion

In the ever-evolving world of business and residency opportunities, having a reliable partner can make all the difference. Adam Global stands as that steadfast partner, guiding you through every step, ensuring that your journey, whether it’s business expansion or securing the UAE Golden Visa, is smooth and successful. Choose Adam Global, and let’s craft a brighter, more prosperous future together. 

The recent enhancements to the UAE’s Golden Visa program present promising opportunities for real estate investors seeking residency in the country. By facilitating greater accessibility, expanding eligibility criteria, and potentially introducing automated issuance mechanisms, the UAE demonstrates its commitment to fostering a conducive environment for foreign investment and economic growth.

In conclusion, the UAE’s Golden Visa updates for 2024 present promising opportunities for real estate investors seeking residency in the country. With enhanced accessibility, expanded eligibility criteria, and streamlined application processes, the UAE reaffirms its commitment to attracting foreign investment and fostering economic growth. So, seize the opportunity, embark on your journey, and let Adam Global be your trusted partner along the way. 

FAQs

What are the eligibility criteria for a 5- and 10-year UAE Investor Golden Visa?

5-year UAE Investor Golden Visa. Individuals who own properties worth AED 2 million or more in the UAE are eligible to apply for a five-year Golden Visa, provided the properties are not loaned. Even if it is on loan, they must own equity no less than AED 2 million of the value of the properties to still remain eligible for the visa.
10-year UAE Investor Golden Visa. An individual qualifies for a 10-year Golden Visa basis their investment made in the UAE without a sponsor if: 

Their investments in the UAE must be at least AED 2 million either in the form of investment funds accredited in the UAE or where the memorandum of association (MoA) of their legal entity states the paid-up capital of the said company is at least AED 2 million.
Is the owner of a company in the UAE and pays tax of not less than Dh250,000 annually to the Federal Tax Authority. 
Note: A UAE investor Golden Visa holder can also include his or her spouse and dependents while applying for the Golden Visa.

Can a retired foreigner apply for the UAE Golden Visa?

Any retired foreigner who is at least 55 years old and has invested AED 1 million or a monthly income of Dh15,000 is also eligible for the UAE Golden Visa. 

Why so many people are applying for UAE Golden Visa? How can it benefit me?

There are a host of reasons why so many people want to hold a UAE Golden visa. However, adequate stability of residency, freedom of choosing a career path and its valuable features are the major ones. Plus, the visa is a self-sponsored residence permit issued for up to 10 years. Which is all the more reason why so many people hanker after the Golden visa. 

How can I find out if I am eligible for the Golden visa in UAE?

The Federal Authority for Identity and Citizenship has made it easy for prospective Golden visa UAE applicants to test their eligibility by publishing a new online quiz of about 16 simple yes/no questions about property investment, university degree, job role, creative achievements, businesses, humanitarian work, and more. And the best part? The assessment also tells at the end which category you should apply for.

What are the next steps after passing the UAE Golden visa eligibility test?

First off, congratulations! Next up, prepare the paperwork and apply online through the website of the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) or simply ping us https://www.dubaibusinessadvisors.com/contact-us/, your Golden Visa specialist in Dubai, UAE. You will be contacted in no time. We will do all the spadework including the paperwork involved in obtaining the UAE Golden Visa from the beginning till the end, so you don’t have to. 

What is the cost of the Golden visa UAE?

The cost of the 10-year Golden visa in UAE is between AED 2,800 and AED 3,800 for candidates who are applying from the UAE and between AED 3,800 and AED 4,800 for those who are applying from outside the UAE. 

How can I apply for UAE Golden Visa?

Well, the process is quite straightforward and the cherry on top is you can apply it from the comfort of your couch. All you need is your laptop or smartphone, the required documents and a bank card to make the application fee payments. The process starts with finding out if you are an eligible candidate for the Golden visa UAE. After your candidacy is confirmed, follow the below-listed steps:  
1. Create a user account on ICA smart services platform 
2. Fill up the Golden visa application Form  
3. Attach the supporting documents to your application
4. Recheck the information provided for any errors 
5. Pay the visa fee and  
6. Lastly, submit the application

Who Can Get a UAE Golden Visa?

Golden visas can be issued to investors, entrepreneurs, people with specialized talents, scientists, and super brilliant students worldwide. Sometimes senior Emiratis or government bodies nominate people for golden visas, and in other occurrences, people apply online. People investing AED1million to AED 2million in property also have several choices. The spouse and children of the Golden Visa holder also qualify for the Golden Visa.

How can I apply for UAE Golden Visa?  

Simply get in touch with Adam Global Golden visa experts in Dubai. Book your free consultation today. When you work with one of the best Golden visa service providers in Dubai, UAE, the process is an easy breeze. 

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