Insight for Property Investors in Dubai concerning the Golden Visa

 
  • Insight for Property Investors in Dubai concerning the Golden Visa


    This article is written for the purposes to provide awareness and insight for all property owners in Dubai concerning their eligibility to obtain the 10 years Golden Visa or the 5 years residency Visa. The Golden Visa is introduced to motivate and provide this great opportunity for all the talented people who have outstanding contributions and investment in the country.

    The UAE has introduced the long-term residency visas in 2019 for certain individuals. The visas are renewable and are valid for 5 or 10 years depending on the kind of golden visa you are eligible for.

    The Golden 10 Years Visa:

    Under the recent changes to the UAE Residence and Entry Scheme that was announced and effective as of October 3, property investors owning property worth AED 2 million can now obtain the 10 years Golden Visa!

    The eligibility for the 10 years Golden Visa are:

    • Minimum AED 2 million value property or owned share (one property or more).
    • If the property is mortgaged, at least AED 2 million of property value must be paid to the bank and provide a letter from the bank mentioning the paid amount from the mortgage.
    • If the property is off-plan, there should be a handover letter of the project from the Developer and at least AED 2 million of property value must be paid to Developer.

    The Benefits are certainly:

    • 10 years of residence in the UAE, with the chance to renew when the requirements are met.
    • 100% ownership of any business started and owned in the UAE.
    • Sponsor your dependents such as spouse, parents and your children.
    • Employ and support an unlimited number of domestic helpers.
    • Allows visa holder to open a bank account and car license.
    • Extended time outside the UAE to rather 1 year.

    The Retirement 5 years Visa:

    The UAE Cabinet approved a law to provide the retired residents over the age of 55 years old, a long-term visa for a period of 5 years. Indeed, the visa can be renewed when the conditions are met.

    The eligibility for the 5 years Retirement Visa is:

    • The individual much be 55 years old and above.
    • The minimum investment should be AED 1 million value property or owned share (one property or more).
      • Or a saving deposit of AED 1 million in any local banks for 2 years and bring a letter from the bank issued to the immigration that (the deposit cannot be released within 2 years).
    • If the property is mortgaged, at least AED 1 million of property value must be paid to the bank and provide a letter from the bank mentioning the paid amount from the mortgage.
    • If the property is off-plan, there should be a handover letter of the project from the Developer and at least AED 1 million of property value must be paid to Developer. 

    The 5 Years Residency Visa:

    Further announcement will be confirmed by the immigration soon in October concerning the eligibility investment value and further requirements.

    Our expertise will be guiding you through the entire visa process, from assessing your eligibility to ensuring that you have all your documentation in place and all the way up to gaining approvals from
    the authorities in the Dubai Land Department. The UAE Golden Visa entitles you to enjoy so many privileges; therefore, make sure you don’t miss out this opportunity.

    For more information, please contact us to learn more about the Dubai Golden Visa and Investor’s Visa. Call us at +97143691704 or drop an email at info@famproperties.com to get your queries
    answered in no time. Additionally, you can visit our website www.famconveyancing.com to check our services.

    Obtain your Golden Visa now, with Fam Properties team.

    Reference:
    Dubai Land Department.



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