The UAE's Golden Visa has revolutionized the residency landscape for investors, entrepreneurs, and skilled professionals. Introduced in 2019, it is part of the UAE’s effort to attract talent and foreign capital, allowing long-term residency in one of the most dynamic countries in the world. For property owners, the Golden Visa is an excellent opportunity to secure a 10-year visa by investing in real estate, with a 5-year option also available for those interested in shorter stays.
In this blog, we'll focus on how property owners can take advantage of the UAE Golden Visa program, highlighting its benefits, eligibility criteria, and how to go about securing this prestigious visa. If you're interested in long-term residency in the UAE, this guide will walk you through the entire process.
What is the UAE Golden Visa?
The Golden Visa is a long-term investment visa that grants expatriates the ability to live, work, and study in the UAE without the need for a local sponsor. It offers unparalleled benefits, including the possibility to sponsor your family and even household staff, such as maids or drivers. In return, the UAE benefits from foreign investments that contribute to its economic growth.
Although the visa is available to various categories such as entrepreneurs, highly skilled professionals, and scientists, our focus in this article will be on the Golden Visa for Property Owners.
Benefits of the Golden Visa for Property Owners
If you’re a property investor, acquiring a UAE Golden Visa can open up a wealth of opportunities. Here are some of the key benefits that make this visa a valuable option for property owners:
10-Year Residency: Unlike traditional residency permits, the Golden Visa allows you to stay in the UAE for up to 10 years, with an easy renewal process.
Sponsor Your Family: You can sponsor your spouse, children, and even up to three maids or drivers for the same 10-year period.
Multiple Entry Visa: You can enter the UAE on a 6-month entry visa with multiple entries as you proceed with your residency application.
Freedom to Travel: With a Golden Visa, you are free to stay outside the UAE for longer than the usual 6-month period without risking your residency status.
Discounts and Privileges: Golden Visa holders often receive special discounts on car purchases, loans, and banking services.
Business Sponsorship: If you’re planning to start a business, the Golden Visa allows you to sponsor a certain number of employee visas, which is a great advantage for expanding your workforce.
Long-term Stability: This visa offers long-term stability and peace of mind for managing your real estate investments, as well as living in the UAE without frequent renewals.
Eligibility Criteria for Real Estate Investors
If you're interested in obtaining a Golden Visa as a property investor, the eligibility requirements are straightforward but essential to understand:
Minimum Investment: You must invest at least AED 2 million in real estate. This is the minimum threshold to be eligible for a 10-year Golden Visa.
Type of Property: The property you invest in can be residential, commercial, or industrial, as long as it meets the valuation criteria.
Ownership: You must own the property outright. Joint ownership is allowed if it involves a spouse, but the total value of the investment must still meet the minimum requirement.
Financial Stability: You need to demonstrate financial stability by proving that you have no outstanding financial liabilities.
The ease with which you can renew the Golden Visa makes it an attractive proposition for long-term real estate investors. Moreover, property values in Dubai have shown considerable growth over the years, making it a lucrative investment hub.
The Application Process for the UAE Golden Visa
Now that you understand the basics of the Golden Visa, let's walk through the application process specifically for property owners.
Step 1: Check Your Eligibility
The first step is to ensure that your property investment meets the minimum criteria of AED 2 million. This can be verified through your property documents, which will show the market value and ownership details.
Step 2: Collect the Required Documents
To streamline the process, make sure you have all the necessary documents ready. These typically include:
- A copy of your property deed or ownership title
- Passport copy with at least 6 months of validity
- Proof of investment (showing that your property is worth at least AED 2 million)
- Attested marriage certificate (if the property is co-owned by a couple)
- UAE health insurance certificate
- Passport-sized photos If you are applying with your spouse, one of you will be the visa holder, and the other will act as the sponsor. The marriage certificate needs to be attested by the UAE Ministry of Foreign Affairs.
Step 3: Apply Online or Through a Service Provider
You can either apply for the Golden Visa directly via the UAE’s official portal or use the services of a Golden Visa consultant. Many property owners prefer the latter option, as it ensures that all documentation is accurate and reduces the chances of errors.
At Intellect Chartered Accountants, we specialize in handling Golden Visa applications for property owners. With over 21 years of experience in management and consultancy, our team ensures that your application is processed smoothly and quickly.
Step 4: Undergo a Medical Test
A medical examination is a standard requirement for any UAE residency visa. You’ll need to book an appointment at a designated medical center and undergo a basic health check, which includes blood tests and chest X-rays.
Step 5: Pay the Necessary Fees
The final step involves paying the visa fees, which include the cost of the medical exam, processing, and issuance of the visa. Fees may vary depending on the specific service provider you use, but expect to pay for the Golden Visa application itself and related administrative costs.
Once you've completed all the steps, you can expect your visa to be processed within 2-4 weeks.
Why Choose Intellect Chartered Accountants?
Applying for the UAE Golden Visa may seem daunting, especially if you’re navigating the UAE’s immigration system for the first time. However, with the right support, the process can be streamlined, making it hassle-free. Intellect Chartered Accountants offers a comprehensive Golden Visa service, ensuring that you have all your documents in order and guiding you through every step of the application process.
We’ve helped numerous clients secure their UAE Golden Visas for property investments and would be happy to assist you as well. Our long-standing presence in the UAE and deep understanding of local regulations make us the perfect partner to help you secure your long-term residency.
Contact Us for Golden Visa Services
Are you ready to apply for the UAE Golden Visa as a property investor? Let us help you! Contact Intellect Chartered Accountants today, and we’ll guide you through every step of the application process to ensure that you receive your visa as quickly and smoothly as possible.
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