Dubai Eases Requirements for UAE Golden Visa: Eliminates Minimum Down Payment for Property Owners
Dubai has revised the criteria for the UAE Golden Visa, eliminating the minimum down payment requirement for property owners. This move opens new avenues for individuals investing in Dubai real estate, streamlining the process for those seeking long-term residency through the prestigious Golden Visa program.
Property buyers are no longer obligated to make a minimum down payment of Dh1 million to qualify for the Golden Visa. Owners with properties valued at Dh2 million or more, regardless of whether they choose a payment plan or mortgage, can now apply for the long-term visa. The eligibility criterion for the 10-year residency no longer hinges on the upfront payment, as clarified by an executive.
Firose khan, managing director of Dubai-based Profound Business Service, explained that off-plan properties could be considered based on individual circumstances. Applicants are required to submit the property's title deed, a letter from the developer or mortgage document from the bank, along with their passport copy and photograph.
As with all Golden Visa holders, property owners have the privilege to sponsor their spouses, children, and parents for the same 10-year period. Jess Stephenson, head of sales progression at Allsopp & Allsopp Group, affirmed that the previous minimum payment requirement of Dh1 million has been eliminated. The revised criterion now mandates that the property must hold a value of Dh2 million or more for investors to qualify for the Golden Visa.
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