The UAE may be famed for its large and ever-expanding expatriate population, but it has not always been easy to settle in the country on a long-term basis. Visas were often short, requiring renewal every few years, with most tied to employment or sponsorship.
Fortunately, this is no longer the case. Recent changes to visa laws have made it much easier for foreign nationals to come to the country – and stay, almost indefinitely. One such initiative is the UAE Golden Visa program, which allows holders to reside in the country long term without the need for an employer or sponsor.
Understanding the UAE Golden Visa
In short, the UAE Golden Visa is a long-term residence visa that allows foreign talents and investors to live, work, and study in the UAE without the usual sponsorship requirements.
As a holder of a Golden Visa, you are also free to stay outside the UAE for longer than the usual six-month period. You may also sponsor your family members, including spouses and children for their visas regardless of their age, as well as sponsoring an unlimited number of domestic helper visas.
Golden Visas are issued to investors, entrepreneurs, scientists and outstanding students and graduates. Investing in UAE real estate is one of the easiest ways to obtain a Golden Visa.
Eligibility criteria for the UAE Golden Visa through property investment
There are several ways to qualify for a UAE Golden Visa. However, the most accessible and straightforward method is usually property investment.
To obtain a visa this way, you must legally own a property or group of properties in the UAE. The total value of your real estate holdings in the country must exceed AED 2m (USD 545,000). These properties must be purchased with a loan from a local bank preapproved by the relevant emirate authority.
The length of your visa may depend on the emirate in which you own property. In Dubai, real estate investors are eligible for ten-year renewable residence permits.
In addition to submitting your application form and proof of property ownership, you will also need to provide a copy of your passport, your UAE ID, and your current residence permit (if applicable).
Steps to obtain the UAE Golden Visa through property investment
When you work with the experts at Creative Zone, applying for a UAE Golden Visa through property investment is fast and hassle-free. Your dedicated contact will guide you through the following five-step process.
1. Identifying and selecting suitable properties
The first step in securing your UAE visa is to scout for suitable properties. Whether you wish to invest in one or more pieces of real estate, the total asset value must exceed AED 2m (USD 545,000). While investing in a single property can be faster and simpler, building a property portfolio may help to increase potential rental yields.
2. Conducting due diligence and property valuation
With your property or properties selected, you must then carry out valuations and due diligence to ensure your proposed investment meets the UAE Golden Visa criteria. The team at Creative Zone can help with this step, ensuring all regulatory boxes are adequately ticked.
3. Completing the purchase and registration process
With due diligence complete, it is time to complete the purchase of your property and register your investment. Only once you are the legal owner of UAE real estate can you apply for the Golden Visa as an investor.
4. Submitting the Golden Visa application
As the legal owner of property in the UAE, you can make your Golden Visa application. This can be done largely online, but may require in-person visits to an immigration service centre. Once again, the team at Creative Zone will advise and guide you through this process.
5. Processing times and approval procedures
In most cases, you can expect to receive your Golden Visa within seven to ten business days of your application. Once in hand, you can start your new life in the UAE.
Benefits of the UAE Golden Visa for property investors
There are numerous benefits available to investors through the UAE Golden Visa scheme, ranging from impressive returns to long-term peace of mind.
Long-term residency
The Golden Visa allows you to reside in the UAE for ten years, helping you build a solid foundation in the country. Knowing where your long-term future lies enables better integration into the UAE’s business and cultural environment. The ten-year renewable visa also allows your family to settle in the UAE.
Streamlined property investment
The Golden Visa real estate investment path allows foreign nations to acquire property in prime residential and tourist areas within the UAE. The ten-year renewable term of the Golden Visa can also influence lending decisions, potentially helping you borrow more over a longer period, to increase the value of your property portfolio.
Rental returns
UAE real estate has the potential to generate impressive rental revenues. Average yields in popular regions have been known to top 10%, outstripping those in London, New York and many other major global cities.
Sponsor-free residence
Gaining UAE residence without employment was once a complex business. The Golden Visa changes that. Investors and entrepreneurs can now gain a long-term foothold within the country without relying on continued employment or local partnership.
Family rights
The Golden Visa also makes it much easier for investors to bring their families to the UAE. Holders are free to sponsor spouses, children, and in some cases parents, without the need for multiple lengthy, and often costly, visa applications. Moreover, if the primary visa holder passes away, family members are free to remain in the country until the visa expiry date, should they so desire.
Why work with Creative Zone?
Creative Zone has a long and successful history of helping investors start new lives here in the UAE. Our dedicated team is well-versed in the country’s business and real estate markets and the complexities of the immigration process.
We’re here to assist every step of the way. No matter your chosen investment or visa requirements, we’re on hand with support, guidance and expertise. So, if you’re looking to lay the foundations for life in the UAE, Creative Zone is your ideal starting point.
Get in touch today to take the first step.
