Life
Dubai has recently revamped the eligibility criteria for the coveted 10-year Golden Visa, specifically targeting property investors.
The noteworthy change involves the elimination of the previous Dhs1 million down-payment requirement, a move set to redefine the landscape for those seeking this long-term residency privilege.
Under the new regulations, prospective Golden Visa recipients are now required to invest in properties with a minimum value of Dhs2 million. This significant adjustment liberates investors from the earlier financial burden of the mandatory Dhs1 million down-payment, offering a more accessible pathway to the esteemed 10-year golden residency.
This shift in dynamics means that even those opting for off-plan units can now qualify for the Golden Visa with a considerably reduced down payment, potentially as low as Dh50,000.
Introduced in 2019, the Golden Visa initially targeted exceptional talents, offering a decade of residency under their own sponsorship. Over the subsequent years, the eligibility categories for the UAE Golden Visa have undergone expansions, providing a broader spectrum of individuals the opportunity to establish permanent roots in the country.
Dubai’s decision to eliminate the hefty down-payment requirement aligns with the broader objective of attracting foreign investment and fostering a thriving real estate market. The move is anticipated to stimulate increased interest from potential investors, as the barriers to entry for the Golden Visa program have now been significantly lowered.
This strategic initiative not only positions Dubai as a more attractive destination for property investment but also reinforces the city’s commitment to adapting policies in response to the evolving needs of the global investor community.
