The UAE’s Golden Visa program has garnered significant attention in recent years for its attractive incentives to investors, entrepreneurs, and skilled professionals. Among the various paths to obtaining this prestigious long-term residency, property investment stands out as one of the most sought-after options. 

But can you secure a Golden Visa by buying an apartment in Dubai? The answer is yes – provided certain conditions are met. Stay tuned with us, we will explore how buying an apartment in Dubai can qualify you for a Golden Visa and what you need to know to make this process successful.

What Is The UAE Golden Visa?

The UAE Golden Visa is a long-term residency visa granted to expatriates who invest in the country, with the option of a 5 or 10-year stay. It allows individuals to live, work, and study in the UAE without requiring a local sponsor. 

The visa covers a wide range of categories, including investors, skilled workers, and business owners.For investors, the Golden Visa provides a straightforward way to gain residency through real estate purchases.

Eligibility Criteria To Get A Golden Visa By Buying Property – Is It Right For You?

To qualify for the Golden Visa through real estate investment, you must meet the following criteria:

Minimum Property Value Requirement:

The property (or properties) you purchase must have a total value of at least AED 2 million. This can be a single property or multiple properties combined to meet the threshold.

Ownership:

You must own the property outright or have a mortgage with a local bank. If the property is mortgaged, you must meet a minimum paid-up amount. For example, if you’ve made a 50% down payment, that portion should meet the minimum requirement.

Off-Plan Properties:

You can qualify with off-plan properties, but there are additional rules. The property must have reached a certain level of construction, and you must have made the required payments to the developer. The Dubai Land Department (DLD) evaluates this on a case-by-case basis.

Other Documentation:

In addition to meeting the property value and ownership criteria, you must provide the following documents:

• UAE Good Conduct Certificate

• Proof of tax payments to the Federal Tax Authority (FTA)

• Property documents like the title deed or Oqood certificate (for off-plan properties)

Family Sponsorship:

As the primary investor, you can sponsor your immediate family members (spouse and children under 18) for the Golden Visa. This makes it a highly attractive option for those looking to secure long-term residency for their families.

How To Apply For The Golden Visa Through Property Investment?

If you’re interested in applying for the Golden Visa by purchasing an apartment in Dubai, here’s the process:

Property Evaluation:

To begin the application process, get your property evaluated by the Dubai Land Department (DLD). This evaluation confirms that your property meets the AED 2 million minimum value requirement.

Prepare Required Documents:

You’ll need to gather the following documents:

• UAE Good Conduct Certificate.

• Passport and other identification documents.

• Property ownership proof (title deed or Oqood certificate).

• Bank statements if the property is mortgaged.

• Proof of tax payments to the Federal Tax Authority.

Submit Your Application:

Once you have all the required documents, submit your application through the appropriate channels. This is usually done via the UAE immigration services or Dubai Land Department.

Wait for Approval:

Once your application is processed, the UAE authorities will review your documents and confirm eligibility. If everything checks out, you will be granted the Golden Visa.

Sponsor Family Members:

As a Golden Visa holder, you can also sponsor your spouse and children for the same visa, providing them with long-term residency in the UAE.

Key Benefits Of The Golden Visa Through Property Investment – Why It’s Worth It

The Golden Visa offers significant benefits for property investors in Dubai. It provides long-term residency, ranging from 5 to 10 years, without the need for a local sponsor. This gives you the freedom to live, work, and study in the UAE, while also allowing you to sponsor your immediate family. 

As a resident, you’ll enjoy access to world-class infrastructure, tax-free income, and a thriving business environment. With no income tax in the UAE, the Golden Visa ensures both personal and financial benefits for investors and their families.

What Happens If Property Values Decrease?

If the market value of your property falls below AED 2 million after your Golden Visa is approved, you may risk losing your eligibility. However, the Dubai Land Department evaluates the property’s value at the time of application, so as long as the property meets the AED 2 million requirement when you apply, you should be fine.

If the value decreases later, you won’t be required to sell or buy a new property immediately, but it’s important to ensure your investment stays above the required threshold for ongoing eligibility.

Can You Buy Multiple Properties To Qualify For The Golden Visa?

Yes, you can combine multiple properties to reach the AED 2 million threshold. As long as the total value of your properties meets the minimum requirement, you are eligible for the Golden Visa. 

This flexibility allows investors to diversify their investments and choose properties across different areas of Dubai. Whether it’s one large unit or several smaller ones, as long as the cumulative value reaches AED 2 million, you meet the eligibility criteria.

How Long Does It Take to Get the Golden Visa?

The processing time for the Golden Visa application varies. Typically, it can take anywhere from a few weeks to a few months, depending on the complexity of the application and the documentation provided. 

Factors like property evaluation, document verification, and background checks can impact the timeline. It’s important to ensure all documents are submitted correctly and on time to avoid delays in the approval process.

FAQs:

Can I buy off-plan properties to qualify for the Golden Visa?

Yes, off-plan properties are eligible, but they must meet certain completion requirements. The Dubai Land Department assesses the construction status before approval.

Are there any taxes on my property once I get the Golden Visa?

While the UAE does not impose personal income tax, property owners must pay annual service charges and other applicable fees. These depend on the type and location of the property.

Do I need to be physically present in Dubai to apply for the Golden Visa?

While you can start the application remotely, you may need to be in Dubai for certain procedures, like submitting documents or attending interviews, depending on the visa processing requirements.

Can I sell my property after getting the Golden Visa?

Yes, you can sell your property after receiving the Golden Visa, but you must ensure that the new property meets the AED 2 million threshold to maintain your eligibility.

Conclusion:

Buying an apartment in Dubai is an excellent way to secure a Golden Visa and enjoy the numerous benefits of living and investing in one of the world’s most dynamic cities. With the minimum investment of AED 2 million, you gain access to long-term residency, business ownership opportunities, and the ability to sponsor your family. 

By understanding the eligibility requirements and following the steps outlined in this guide, you can successfully navigate the process and make Dubai your home for years to come.