The United Arab Emirates (UAE) has recently announced significant changes to its Golden Visa policy, making it more accessible for property owners. This move is part of the UAE’s ongoing efforts to attract foreign investment and talent.
No More Minimum Down Payment
Previously, property buyers were required to make a minimum down payment of AED 1 million to be eligible for the Golden Visa. However, this requirement has now been waived. This change opens up the Golden Visa to a broader range of property investors, making the UAE an even more attractive destination for global real estate investment.
This new policy is a game-changer for potential investors, as it removes a significant financial barrier. It allows more people to consider investing in the UAE’s property market, which is known for its high returns and stability.
Eligibility for Mortgaged Properties
In another major shift, owners of properties valued at more than AED 2 million can now apply for the long-term visa, even if they have opted for a payment plan or mortgage. This means that the owner can apply for a 10-year residency, regardless of the amount paid upfront.
This is a significant development as it acknowledges the reality of property ownership for many people. Mortgages and payment plans are common methods of financing property purchases, and this change ensures that these property owners are not excluded from the Golden Visa program.
Case-by-case Consideration for Off-plan Properties
The new policy also allows for off-plan properties to be considered for the Golden Visa on a case-by-case basis. This flexibility further broadens the scope of properties that can potentially qualify for the visa.
Off-plan properties are those that are purchased before they are fully constructed. This change recognizes the potential value of these properties and allows investors to benefit from the Golden Visa program even if their property is not yet complete.
Application Requirements
To apply for the Golden Visa under the new policy, applicants need to submit the title deed, a letter from the developer or mortgage document from the bank, and their passport copy along with a photograph.
These documents are necessary to verify the ownership of the property and the identity of the applicant. Applicants need to ensure that they have all the necessary documents before applying to avoid any delays or issues with their application.
Conclusion
These changes to the UAE’s Golden Visa policy represent a significant step forward in the country’s efforts to attract foreign talent and investment. By making the visa more accessible to property owners, the UAE is positioning itself as a leading destination for global real estate investment.
The new policy is expected to have a positive impact on the UAE’s property market, attracting more foreign investors and boosting the economy. It’s an exciting time for property owners and investors in the UAE.
Professional Real Estate Agency in Dubai
If you are looking for a reliable and professional real estate agency in Dubai, you should contact Truss Real Estate. We have a team of experts who can help you find the best property for your needs and budget. Whether you want to buy, sell, or rent a property in Dubai, Truss Real Estate can assist you with every step of the process. You can reach us by phone at +971 52 266 3674 or by email at [email protected]. Don’t hesitate to get in touch with them today and let us make your real estate dreams come true.
[…] people to work and study in UAE but also enjoys several exclusive benefits is what the UAE Golden Visa comprises. It offers multiple benefits for entrepreneurs, foreign investors, scientists, […]
The United Arab Emirates (UAE) has recently announced significant changes to its Golden Visa policy, making it more accessible for property owners. This move is part of the UAE’s ongoing efforts to attract foreign investment and talent.
Previously, property buyers were required to make a minimum down payment of AED 1 million to be eligible for the Golden Visa. However, this requirement has now been waived. This change opens up the Golden Visa to a broader range of property investors, making the UAE an even more attractive destination for global real estate investment.
This new policy is a game-changer for potential investors, as it removes a significant financial barrier. It allows more people to consider investing in the UAE’s property market, which is known for its high returns and stability.
In another major shift, owners of properties valued at more than AED 2 million can now apply for the long-term visa, even if they have opted for a payment plan or mortgage. This means that the owner can apply for a 10-year residency, regardless of the amount paid upfront.
This is a significant development as it acknowledges the reality of property ownership for many people. Mortgages and payment plans are common methods of financing property purchases, and this change ensures that these property owners are not excluded from the Golden Visa program.
The new policy also allows for off-plan properties to be considered for the Golden Visa on a case-by-case basis. This flexibility further broadens the scope of properties that can potentially qualify for the visa.
Off-plan properties are those that are purchased before they are fully constructed. This change recognizes the potential value of these properties and allows investors to benefit from the Golden Visa program even if their property is not yet complete.
To apply for the Golden Visa under the new policy, applicants need to submit the title deed, a letter from the developer or mortgage document from the bank, and their passport copy along with a photograph.
These documents are necessary to verify the ownership of the property and the identity of the applicant. Applicants need to ensure that they have all the necessary documents before applying to avoid any delays or issues with their application.
These changes to the UAE’s Golden Visa policy represent a significant step forward in the country’s efforts to attract foreign talent and investment. By making the visa more accessible to property owners, the UAE is positioning itself as a leading destination for global real estate investment.
The new policy is expected to have a positive impact on the UAE’s property market, attracting more foreign investors and boosting the economy. It’s an exciting time for property owners and investors in the UAE.
If you are looking for a reliable and professional real estate agency in Dubai, you should contact Truss Real Estate. We have a team of experts who can help you find the best property for your needs and budget. Whether you want to buy, sell, or rent a property in Dubai, Truss Real Estate can assist you with every step of the process. You can reach us by phone at +971 52 266 3674 or by email at [email protected]. Don’t hesitate to get in touch with them today and let us make your real estate dreams come true.
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