Category: Investment, Posted at Jan. 25, 2024,
Sources indicate that the UAE has eliminated the previous Dh1 million ($272,294) minimum down payment prerequisite for qualifying for a golden visa through real estate investment. This move aims to encourage more residents and investors to establish stronger ties in the country.
Previously, to be eligible for the 10-year renewable residency program introduced in 2019, investors needed to acquire properties valued at Dh2 million or above. For properties purchased through mortgages or installment plans, a minimum down payment of Dh1 million or 50% of the property's value was required for golden visa eligibility.
According to Maroun Abou Harb, an associate at the law firm BSA Ahmad bin Hezeem & Associates, the recent change eliminates the necessity for any minimum down payment. Investors can now qualify for the golden visa if the property's value is Dh2 million or more, irrespective of whether it's off-plan, completed, mortgaged, or not mortgaged.
It's important to note that this change has not yet been updated on the Dubai Land Department’s Cube website, a customer service initiative supporting investor and golden visa services for property buyers.
To ensure you secure your Golden Visa, contact us. Let us assist you in purchasing the right property, providing both a lucrative investment opportunity and eligibility for the golden visa. 1011 Real Estate, with its expert team, is dedicated to guiding you towards the best decisions and paths.
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