The Golden Visa - how to apply and the costs involved
UAE Golden Visa: A long-term residency visa with benefits like no sponsor requirement, family sponsorship, and extended stays outside the UAE.
Changes for Real Estate Investors: Minimum down payment requirement removed for Golden Visa through real estate investment. - to be confirmed.
New Minimum Investment: AED 2 million (approx. USD 545,000) total property value. Investment cannot be spread across more than 3 properties.
Application Process: Online, at customer happiness centers, or authorized typing centers. Requires documents like a passport and proof of property ownership.
Who Qualifies: Individuals with AED 2 million+ share in co-owned properties, each spouse in jointly owned properties exceeding AED 2 million.
Fees: Medical exam, UAE ID, residency permit confirmation, Land Department fee, and administrative fee (total varies based on specific fees at the time of application).
n a strategic move aimed at boosting investment in the real estate sector, the UAE government has eliminated the AED1 million ($272,000) minimum down payment previously required for obtaining a Golden Visa through property investment. This significant policy change, effective from January 24 2024, is designed to attract more investors and strengthen the connection with the country's residents.
By removing this financial hurdle, the UAE is opening up new avenues for investors worldwide to engage with Dubai's vibrant property market without the initial heavy financial commitment. This adjustment reflects the government's commitment to making the Emirates an even more attractive destination for international investors and residents alike.
What is a UAE Golden Visa?
According to the official UAE government portal, the Golden Visa “is a long-term residence visa which enables foreign talents to live, work or study in the UAE while enjoying exclusive benefits which include:
“An entry visa for six months with multiple entries to proceed with residence issuance
“A long-term, renewable residence visa valid for five or 10 years
“The privilege of not needing a sponsor
“The ability to stay outside the UAE for more than the usual period of six months in order to keep their residence visa valid
“The ability to sponsor their family members, including spouses and children regardless of their ages
“The ability to sponsor unlimited number of domestic helpers
“The permit for family members to stay in the UAE until the end of their permit duration, if the primary holder of the Golden visa passes away”
UAE Golden visa real estate requirements
Requirements for a Golden Visa vary depending on the applicant’s status as an investor inventor, special talent or entrepreneur.
To be eligible for a United Arab Emirates Golden Visa under the revised rules, real estate investors must:
Provide a letter from the land department of the respective emirate confirming ownership of one or more properties valued at no less than AED 2m ($545,000)
Acquire a property through a loan from specific local banks approved by the competent local entity
While the minimum payment requirement has been abolished, the final approval of the Golden Visa application is subject to the land department’s consideration on a case-by-case basis.
Where to apply for a UAE Golden Visa?
Golden visa applications can be made at:
Authorised typing centres
Customer happiness centres
UAEICP phone application
How to apply for a UAE real estate investor golden visa
In a detailed blog post recently added to the Property Finder website, the following steps were identified to apply for a real estate investor golden visa.
To apply online:
Visit the ICP smart services website to start your application
Go to services list, and choose golden visa services
Fill out your application form
Submit required documents
Pay the fees
Then, you will receive your application through your email
To apply at a customer happiness centre:
Visit your nearest centre
Get a ticket to enter the queue
Submit all required documents fulfilling the conditions to the officer
Pay service fees if needed
To apply at a typing centre:
Visit your nearest typing centre authorised by ICP
Submit full application and documents
Pay fees if needed
What are the current requirements to get a UAE Golden Visa as a real estate investor?
Arabian Business previously reached out to Alina Adamco, the Head of Sales at Metropolitan Homes, who listed the key eligibility requirements to receive the 10-year renewable residency permit.
Minimum Investment: Investors are eligible for a 10-year renewable Golden Visa with a total property investment of AED 2m or more. However, the investment cannot be spread across more than three properties.
Shared Ownership: When a property is co-owned, only individuals with a share valued at AED 2m or more qualify for the 10-year visa. This applies to both family and non-family co-owners
Joint Ownership by Spouses: If a married couple jointly owns a property exceeding AED 2m but each spouse’s share is less than AED 2 million, either spouse can apply for the visa
Off-Plan Properties: For off-plan properties priced at AED 2m or above, the investor can apply for the visa subject to certain terms and conditions. The visa approval depends on the developer’s and project’s credibility
Mortgaged Properties: Investors can apply for the Golden Visa even if they have a mortgage on the property as long as its value is AED 2m or more. The amount paid by the investor does not affect eligibility
What documents are needed for a UAE Golden Visa for real estate investors?
As well as proof of ownership and value of a UAE property, applicants must present:
A passport
Availability of an e-Certificate of Title / Title deed
A personal photo
UAE ID (if any)
Copy of the current residence permit (if any).
What are the fees needed for a UAE Golden Visa for real estate investors?
A posting on the Dubai Land Department website gives an indication of the fees required to apply for a 10 years residency permit. They include:
AED 700 fee for medical examination
AED 1,153 fee for UAE ID (10 years)
AED 2,656.75 fee for confirmation of residency permit (10 years)
AED 4,020 fee for the Land Department
AED 1,155 administrative fee