Dubai is a great place when it comes to buying houses or investing money in real estate. The city has been famous for its growing economy, good location, and excellent facilities. That’s why many people from around the world want to invest in Dubai.
The government of the United Arab Emirates (UAE) has been doing things to attract more foreign investors. One of these things is the Golden Visa. It’s a special way for people and their families to live in the UAE for a long time. The Golden Visa is especially interesting for those who want to buy houses and invest in real estate in Dubai.
In this blog, we’ll talk about the Golden Visa in simple terms, explaining who can get it and what benefits it offers. We’ll also tell you about some recent changes that make the program even better for people who want to buy houses and invest in Dubai’s real estate market.
Firstly: what is Dubai’s Golden Visa?
Dubai’s Golden Visa is like a special card that lets people live in the UAE for a long time. The government started this program in 2019 to attract smart and talented people, as well as those who want to invest money in the country. At first, it was mainly for certain professionals like business owners, investors, scientists, and smart students.
In 2022, the government decided to make it easier for more people to qualify. Their goal was to encourage more investment in Dubai’s real estate as it has been a big part of the country’s growth.
The Golden Visa program is an excellent chance for people who want to invest in Dubai’s real estate. This special visa gives the opportunity to people to make a stable and safe life for themselves and their families, buy a property in the UAE and even make good profits from it.
The new Golden Visa requirements
In October 2022, the government of the UAE made some changes to the Golden Visa program, making it better for real estate buyers and investors. One of the biggest changes made is that you can get the Golden Visa by buying a property worth at least AED 2 million, instead of the previous AED 5 million. This makes it much easier for people to qualify.
Dubai’s government also made it possible to include off-plan properties, which are properties that are not yet built. This is game-changing for people who want to invest in Dubai and buy properties that are not finished yet, as long as they are worth at least AED 2 million.
Side note: there is the possibility to get the Golden Visa when buying a property with a mortgage from certain local banks. This gives buyers and investors more options. Lastly, a husband and wife can jointly own and share a property. A valid marriage certificate is required.
The benefits of a Golden Visa
So, you must be curious what the benefits of a Golden Visa are. Let us explain!
The Golden Visa in Dubai gives many advantages to people who want to buy houses or invest in real estate. Here are some of the benefits about it:
- You can live in the UAE for up to 10 years
- You can start and run a business in Dubai
- Use of public services like education and healthcare
- You can bring your family to live with you in Dubai
- You can sponsor your children, no matter how old they are
- You can stay outside the UAE without losing your residency
- You can sponsor as many domestic helpers as you need
- Your family can stay in the UAE even if you pass away
How to apply for a Golden Visa?
If you want to apply for the Golden Visa in Dubai, you can use the GDRFA-Dubai Smart Application or Amer Centers. Below is a breakdown of the steps to follow:
Using GDRFA-Dubai Smart Application:
- Download the app
- Create a new user account
- Choose the service you need
- Attach the required documents
- Pay the fees
- Submit your request
Using Amer Centers:
- Visit a service branch
- Choose your service
- Submit your documents for checking
- Wait for approval
- Pay the fees
- Submit your application
The Golden Visa is a great opportunity for people who want to buy houses or invest in Dubai’s real estate. It gives a chance to live in the UAE for a longer period and enjoy many benefits.
We hope this article has given you valuable information about the Golden Visa. Just get in touch with us at Nimani if you have any questions or inquiries. Our experts are dedicated to help you choose the right property and complete all the paperwork needed in order to apply.
