Everything you need to know about the UAE’s Golden Visa
The country continues to develop initiatives that welcome international investors and new residents alike – with Dubai a big draw.
If you’re an international real estate investor who has been eyeing the UAE for a while, the Golden Visa represents a great opportunity to get a premier long-term residence permit in this booming part of the world.
The initiative was originally rolled out in 2019 and offers a ‘golden’ opportunity to establish a lasting presence, build wealth, and participate in the UAE’s incredible lifestyle.
Here's a detailed overview of what the program entails.
Duration and renewal
Investors have the option to secure a Golden Visa valid for either 5 or 10 years, with no sponsorship required, offering an extended period of residency unmatched by other visas. Unlike traditional visas, the Golden Visa liberates investors from the need for a sponsor.
Moreover, it’s conveniently renewable, ensuring a seamless pathway to maintaining residency status – plus, the holder can stay outside of the UAE for any amount of time without having their visa nullified.
Eligibility criteria
The essential conditions include property ownership – holding real estate qualifies you for the Golden Visa – encompassing residential, commercial, or mixed-use properties.
Investors must also comply with the mandatory medical insurance requirement for the investor and their family.
Benefits for Golden Visa holders
Stability and security: The Golden Visa provides unparalleled stability and security for investors and their families, enabling them to establish deep roots in the UAE without the limitations of short-term visas.
Business opportunities: Investors are encouraged to actively participate in the thriving business ecosystem (notably in Dubai) launching new ventures and contributing to the city's economic expansion.
Family sponsorship: Golden Visa holders can extend their privilege by sponsoring family members, including spouses and children of all ages, ensuring unity and togetherness. Additionally, domestic helpers can be sponsored without restrictions, enhancing the family's experience.
Legacy planning: In the unfortunate event of the primary Golden Visa holder’s passing, family members can continue to reside in the country until the permit’s duration concludes, demonstrating the emirate’s commitment to supporting investors and their legacies.
Recent down payment rule change boosts appeal
There was extra good news for those interested in a Golden Visa recently with a decision to eliminate the previous AED 1 million (US $272,000) minimum property down payment requirement for participation in the program.
This has led to heightened interest from a diverse array of property investors to Dubai, particularly affluent retirees, as reported by Arabian Business. This demographic was already drawn to the emirate for its high-quality lifestyle, top-tier healthcare, leisure amenities, and cultural offerings.
The rule change is also expected to stimulate new construction projects, create job opportunities, and boost the economy. By simplifying the Golden Visa acquisition process, the government aims to reduce market volatility and sustain consistent growth.
Previously, investors seeking a ten-year renewable residence permit had to invest in properties valued at AED 2 million or more, and those choosing mortgage or installment plans needed to meet a minimum down payment requirement of AED 1 million (or 50% of the property's value) to qualify for the visa.
However, the recent revisions have eliminated the AED 1 million minimum down payment stipulation (though the AED 2 million property value requirement remains unchanged), making it easier for wealthy foreign investors to participate.
Process fees
The fees for a Golden Visa are as follows:
Estimated Government Fees: AED 10,500 (including Emirates ID, Visa and VIP Medical).
Service Fee: AED 5,000 + VAT.
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