Dubai Golden Visa
If you are reading this it means you already know that the United Arab Emirates and specifically Dubai have become one of the most popular destinations for real estate and property investors worldwide and you wish to join the club. In this feature we are going to discuss the different aspects of becoming a UAE resident – how to become a dubai resident – through acquiring the Dubai Golden Visa.
The United Arab Emirates with its brilliantly modern infrastructure, luxurious buildings, ever-growing economy and incredibly tempting opportunities for life, work, education and investment has managed to attract investors from all over the world in massively large numbers; And as if those advantages are not enough, they have put together aa amazing visa program in the form of the Golden Visa.
You may have some ideas of what a UAE or Dubai Golden Visa is but we can guarantee there are a lot that you do not know and we are here to give you all the necessary information regarding this matter. Jasper Real Estate qualified agents will be able to aid you with any information regarding this matter should you wish to contact them but in the piece we will give you the necessary data you need.
Before we start let us take a look at the list of the topic we will cover in this piece:
- What is a UAE or Dubai Golden Visa?
- What are the benefits of having a UAE Golden Visa?
- What are the benefits of having a Dubai Golden Visa?
- Who can apply for a UAE or Dubai Golden Visa?
- How can someone acquire a UAE or Dubai Golden Visa?
- Final word
One more thing: The Dubai Golden Visa is exactly the same as The UAE Golden Visa and these two names have been used throughout the article interchangeably so do not be confused by them.
What is the Dubai Golden Visa?
The UAE has a long history in issuing visas since the country’s birth in the 1970s and the visa programmes have only gotten bigger and more exciting to foreigners ever since; One of the most attractive programmes is the UAE Golden Visa which was launched in 2018 and has led to a massive demand for luxury properties and apartments in Dubai.
The DubaiGolden Visa is a residency visa that allows foreigners to reside in the UAE for 10 years and it is mainly aimed at attracting investors to buy property in this country.
The United Arab Emirates booming economy means that there is more and more need of foreign investment especially in the real estate department and the Golden Visa programme is an answer to that need.
The UAE though is not the only country is granting Golden Visas to expatriates and foreigners; Countries such as Greece, Turkey and Portugal are among some of the other nations that have their own Golden Visa initiatives but in this article we will explain why we believe the UAE Golden Visa is one the best of its kind.
What are the benefits of having a UAE Golden Visa?
In short, the Golden Visa of the UAE allows foreign individuals and their families to live, work or study in the UAE for a 10-year term which can be renewed at the end of the period given the holder still meets the essential requirements of obtaining the visa.
It would be difficult to try and pin just one main single benefit the UAE and its Golden Visa grant its holders so we are going to list all of them and let you choose; Here we go.
You are granted an entry visa for six months with multiple entries. This visa is self sponsored and you do not need a sponsor to be eligible to obtain it. The owner of the visa can stay out of the UAE for as long as he or she wishes without having their visa revoked.
The Golden Visa gives its holder the ability to sponsor its family including the parents, the spouse and their children regardless of their age although the children must not be married. The holder of the visa is also able to sponsor and employ any number of domestic helpers he or she wishes to.
The visa holder and his or her dependents are eligible for special health care and health insurance packages. The family members are allowed to reside in the UAE for the complete 10-year period even if the main holder of the visa passes away.
All that aside, the United Arab Emirates is a key nation in the Middle East and its geographical location makes it terribly easy for its inhabitants to access Africa, Europe and Asia which alone can make it a prime location for international businesses.
The safety and security of citizens and businesses, the political and economic stability, the fascinating tax plan which exempts expats from paying taxes on any personal income, capital and net worth are among some of the other reasons why acquiring the Dubai Golden Visa through investment in property should be a number one priority for all investors anywhere in the world.
What are the benefits of having a Dubai Golden Visa?
There are also a number of other advantages that are specific to each emirate such as Dubai. One of the main advantages of the Golden Visa in Dubai is not having to participate in additional driving lessons before taking the driving test; that is of course if you already own a driver’s license from your home country.
In Dubai, you will also be granted an Esaad card which is issued by the Police and gives its holder a very unique set of privileges. The Esaad card provides an extensive list of benefits such as discounts and exclusive offers in various sectors ranging from healthcare and education to entertainment and restaurants.
If you are interested in finding more about Dubai and special opportunities of investing in projects and buying state of the art properties such as The One By SOBHA Realty, Jouri Hills By ARADA or Mudon Al Ranim Phase 4 By MERAAS among many others, we recommend contacting Jasper Real Estate agents in order to get precise and first hand information.
Who can apply for the Dubai Golden Visa?
The Dubai Golden Visa has primarily targeted foreign investors but there is a wide range of various groups of people who can apply and gain this visa. Investors and individuals who wish to acquire the Golden Visa of the UAE through investing in real estate and purchasing property in the United Arab Emirates can invest in a wide and various range of properties available to foreigners in the UAE and Dubai which you can read more about in this piece.
Aside from real estate investors, there are numerous other groups that can also apply for the UAE or Dubai Golden Visa programs such as students, entrepreneurs, notable scientists, humanitarians, highly skilled professionals and specialists and exceptional talents such as inventors and innovators in certain fields like arts, culture, sports and technology are among the eligible people who can apply for and acquire the United Arab Emirates exceptional Golden Visa.
What are the requirements to obtain a Dubai Golden Visa?
The documents and requirements needed in order to obtain the Dubai Golden Visa depends a lot on the type of residency, whether it is through investment, entrepreneurship or other ways; Since in this article our focus is on acquiring the Golden Visa through investment in property and real estate, we are going to review the criteria needed for that.
In order to obtain a Golden Visa in the UAE one must first and foremost be a freehold owner of a property with a value of at least two millions AED or Arab Emirates Dirhams; This number previously used to be at least ten million dirhams.
Also developers can offer payment plans with which you can obtain a Golden Visa with an investment as low as a downpayment of 10% which would be two hundred thousand dirhams.
Individuals are able to buy off-plan properties and they also can purchase the properties in the United Arab Emirates with a mortgage that was not possible until very recently which shows the UAE government’s effort to encourage further investment in its real estate.
The legal procedure of obtaining the Golden Visa would cost about 4000 to 5000 dirhams; The exact amount of the fee is determined by the category for which you are applying. There are normally a few additional costs for medical examinations and health insurance.
The UAE has become a safe haven for investors and high net worth individuals over the past few years. Optimized tax plans, access to first rate health care and high quality education and a chance to become a United Arab Emirates citizen is as persuasive and convincing as it gets when it comes to advantages of acquiring a country’s residency through investing in property; The Dubai Golden Visa is something that you do not want to sleep on so do not hesitate to contact Jasper Real Estate specialists in order to take your next step.