The Golden Ticket to Dubai: How the Golden Visa is Revolutionizing the Real Estate Market
Dubai’s Golden Visa program attracts investors and entrepreneurs worldwide, offering a pathway to long-term residency and new opportunities in the UAE. Read on to discover the benefits of this exciting initiative and how it’s shaping the real estate market in Dubai.
Are you a property buyer or investor looking to move to Dubai? If so, you may be interested in the latest initiative from the UAE government: the Golden Visa.
The Golden Visa is a residency program that allows investors, entrepreneurs, and talented individuals to obtain long-term residency in the UAE. This initiative was launched in 2019 as part of the government’s efforts to attract and retain talent, stimulate economic growth, and enhance the country’s competitiveness.
So, what do you need to know about the Golden Visa? First, it is open to a wide range of individuals, including investors, entrepreneurs, executives, researchers, and talented professionals in various fields such as science, technology, and arts. This means that you may be eligible for the Golden Visa if you have a specific skill set or expertise.
Second, the Golden Visa offers a range of benefits, such as long-term residency, access to public services and facilities, and the ability to sponsor family members. Additionally, Golden Visa holders are not required to have a UAE national as a sponsor, which makes it easier for them to conduct business, buy property, and invest in the country.
One of the most appealing benefits of the Golden Visa for investors is the ability to obtain residency based on their investment in Dubai’s property market. Investors who purchase properties worth AED 2 million or more can receive a renewable residency visa for up to five years. This opens up a range of opportunities for investors who are looking to capitalize on Dubai’s thriving real estate market.
Furthermore, the Golden Visa program has been expanded to include retirees over the age of 55, who can obtain a five-year visa if they meet certain financial requirements. This initiative aims to attract retirees looking to enjoy their retirement in a safe, secure, and welcoming environment.
How to apply for a UAE Golden Visa as an Investor?
If you are a real estate investor who owns a property valued at AED 2,000,000 or more at the time of purchase, you can apply for a ten years renewable residency visa through the official Dubai Land Department website. Here’s how to apply for a UAE Golden Visa as an investor:
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Step 1: Visit the Dubai Land Department Website.
The first step is to visit the Dubai Land Department website and navigate to the “e-Services” section. From there, select “Request for Golden Visa (Investor).”
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Step 2: Fill in the Application Form.
Once you’ve selected the “Request for Golden Visa (Investor)” option, you’ll be prompted to fill in the application form. You’ll need to provide personal details such as your name, nationality, passport number, and information about your investment in the UAE.
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Step 3: Upload the Required Documents.
After filling in the application form, you’ll need to upload the required documents. These include:
1- Passport
2- Availability of an electronic copy of the title deed certificate
3- Personal photo
4- Valid health insurance
5- Original Emirates ID (if any)
6- Copy of the latest visa in the UAE (if any)
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Step 4: Submit the Application
Once you’ve completed the application form and uploaded the required documents, you can apply. You’ll receive a reference number that you can use to track the status of your application.
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Step 5: Wait for Approval.
After submitting your application, you’ll need approval. The processing time varies, but it usually takes 10 to 15 days.
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Step 6: Obtain the Golden Visa.
Once your application is approved, you must obtain the UAE Golden Visa. This can be done by visiting an ICA customer happiness center or through a registered typing center.
What is the cost of obtaining a golden visa in Dubai?
As per the Dubai Land Department website, the approximate costs for obtaining a golden visa through a real estate investment route in Dubai are as follows :
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Single Investor Visa
- Medical Check – AED 700
- Emirates ID – AED 1,153 (10 years)
- New visa – AED 2,706.75 (10 years)
- DLD Fees – AED 4,020
- Administrative fees – AED 1,155
The total cost for a single investor visa is AED 9,734.75.
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Family Visa
For Family Visa, including parents, the costs are as follows:
- Visa Fees – AED 5,399.75 (10 years)
- File Opening for Dependent Visa – AED 318.75
The total cost for a family visa, including parents, is AED 5,718.5.
In conclusion, the Golden Visa is an exciting initiative that offers a range of benefits for buyers and investors in Dubai. Whether you’re an entrepreneur, investor, or talented professional, the Golden Visa could be the key to unlocking new opportunities and realizing your dreams in the UAE. So, don’t miss out on this exciting opportunity and explore your options for obtaining a Golden Visa today!
At New Launch Properties, we are committed to helping property buyers and investors navigate the real estate market in Dubai and the rest of the UAE. Contact us today to learn more about how we can assist you in finding the perfect property for your needs and help you obtain a Golden Visa.
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Dubai’s Golden Visa initiative is making waves in the real estate market, offering a range of benefits for buyers and investors alike. The Golden Visa is an exciting opportunity for those looking to move to Dubai for long-term residency to easy access to public services and facilities. Read our latest article to learn more about this innovative program and how it could benefit you.
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