How to Get a Golden Visa in Dubai

How to Get a Golden Visa in Dubai

The UAE Golden Visa is a long-term resident visa that allows its holders to live, work or study in the UAE while enjoying exclusive benefits.

What Are the Benefits of the UAE Golden Visa

• The visa is valid for 10 years with the possibility of extension;
• The ability to stay outside the UAE beyond the normal period of 6 months to maintain the validity of the visa;
• The ability to sponsor family members, including spouses, children (regardless of age) and household staff;
• In case of death of a Golden Visa holder, his/her family members can stay in the UAE until the expiry of their visas;
• Benefits for education and health care services;
• UAE residents are exempt from taxes on property, income, capital gains, dividends and inheritance;
• A visa entitles you to open a bank account with an Emirati bank and/or obtain loans and mortgages on favourable terms;
• The opportunity to rent accommodation in the UAE for a long term;
• Favourable tariffs for mobile communication and internet;
• Foreigners residing in Dubai who hold a golden visa and their country’s driving license can now take the UAE driving test without additional lessons;
• UAE Golden Visa holders are entitled to visa-free entry to 15 countries, including Georgia, Maldives, Montenegro, Serbia, Japan, Singapore and Thailand.

UAE Golden Visa for Property Purchase

The UAE introduced the Golden Visa programme in 2019 to attract investors, talented employees and skilled workers from around the world. In 2022, with the approval of the Federal Law on the Entry and Residence of Foreigners, the mechanism for obtaining the Golden Visa was prepared and put into practice. Starting from January 2024, the Golden Visa can be obtained by investors in property worth AED 2 million (USD 545,000) or more, irrespective of the amount of the down payment. The property may still be under construction or under mortgage.

Foreigners have the right to take full ownership of property only in strictly designated areas of Dubai and Abu Dhabi. In all other areas, foreign residents are given the opportunity to purchase property on a leasehold basis only.

The following factors should be carefully analyzed before buying a property:

• compare prices for secondary market and new buildings on the Land Department’s website;
• carry out due diligence on the developer if you decide to buy a property at the development stage;
• assess the level of infrastructure and transport accessibility of the property;
• choose a broker carefully, based on verified sources of information;
• examine the sales contract from start to finish.

Landlords in the UAE are exempt from property rental and sales taxes, as well as property income taxes.

There are many options for the profitable purchase and use of property in the UAE. One of them is to buy a property in instalments with a down payment of 10% and further payments of 1% per month. The second is to use the option of assignment, paying 30-40% of the original cost. Then resell the property at a higher price. In any case, all investments in property in the UAE begin to pay off in 6 months after the conclusion of the deal.

UAE Golden Visa Categories

1. Investor Visa – issued for investments of at least AED 2 million (USD 545,000).
2. Entrepreneur Visa – for entrepreneurs who are shareholders of a local company with annual income of at least AED 1 million.
3. Executive Visa (Executive Visa) – for top managers with at least 5 years of experience, higher education and a salary of at least AED 50,000 per month.
4. Skilled Professional Visa (Skilled Professional Visa) – for workers in the legal and social fields, education, IT, etc. who have a university degree and a salary of at least AED 30,000 per month.
5. Exceptional Talent Visa – Issued for exceptional merit in various fields, regardless of education, position or salary.
6. Scientist Visa – for scientists and researchers who have shown outstanding results in their field. The visa is issued based on the recommendations of the Emirates Scientists Council.
7. The Outstanding students and graduates Visa is for highly successful students from UAE colleges and universities, as well as the top 100 universities in the world. Students must fulfil certain criteria.
8. Humanitarian pioneers and frontline heroes visa – for distinguished employees of international or regional organisations, civic associations and social structures who have worked in them for at least 5 years and received recognition in the humanitarian field.

UAE Golden Visa for Investment

Investment Categories:

• a fixed deposit of at least AED 2 million in a local bank (UAE Golden Visa for bank deposits);
• the authorized capital of a trading or manufacturing company registered in the UAE of at least AED 2 million (own, not borrowed);
• payment of taxes of at least AED 250,000 per year.

Documents:

• a letter from a bank confirming that a deposit of at least AED 2 million has been placed with a UAE bank (original), or a license and articles of association stating the amount of share capital of at least AED 2 million (original), or a letter from the Federal Tax Authority confirming the payment of taxes of at least AED 250,000 (original);
• original passport (valid for more than 6 months);
• current Emirates ID card (if applicable);
• A high quality digital photograph of the applicant.

Obtaining a UAE Golden Visa

The application for a Golden Visa and all necessary documents are submitted to the General Directorate of Residency and Foreign Affairs in Dubai. The application process takes from 5 to 7 working days. The applicant must be in the UAE during this time.

Once the application is approved, a medical test and fingerprinting are required. At the final stage of the procedure, an electronic visa and Emirates ID are issued.

Requirements to UAE Golden Visa for 10 years

• preparation of documents for property purchase – up to 30 days;
• visa application processing – 5-7 working days;
• medical tests, fingerprints and insurance – 2 days;
• receiving Emirates ID – 3-5 days.

The golden visa can be extended. We recommend to do it in advance before the expiry date of the visa. The list of documents and terms of the procedure do not differ from the initial application. If you have received the Golden Visa as a buyer of a UAE property, then for its extension you still need to have the title to this property.

Golden Visa for Property Purchase: Criteria for Obtaining, Required Documents, Process

Property categories:

• ready-made property worth at least AED 2 million;
• ready-made property purchased with a mortgage from certain local banks;
• properties under construction from the list of approved local developers or real estate agencies with a value of at least AED 2 million.

UAE property purchase specifics:

1. Several properties with a value of at least AED 2 million can be registered in the name of the applicant.
2. If the property is purchased with a mortgage or through a developer, a letter from the bank or confirmation from the developer will be required.
3. Owners of title deeds may apply for a Golden Residence Visa if the market value of the property, confirmed by an official valuation certificate, exceeds AED 2 million.
4. If the property is purchased at the construction stage, it is sufficient to pay the down payment in accordance with the terms of the contract.
5. If the property is sold, the client loses the right to the Golden Visa.
6. A husband and wife (whose marriage is confirmed by a marriage certificate certified by the Ministry of Foreign Affairs and translated into Arabic and notarized) may be co-owners. The shares of the property must be equal. In case the shares are not equal, the owner of the largest share will be able to apply as the principal visa holder and then sponsor the spouse.

Documents to be submitted:

• Dubai property ownership certificate (other emirates and DIFCA are not accepted);
• A copy of passport (valid for more than 6 months);
• Current Emirates ID card (if applicable);
• A high quality digital photograph of the applicant;
• Medical insurance (from any insurance company in the UAE).

Simplified Way to Get a UAE Golden Visa

The Golden Visa application and all required documents are submitted online to the Dubai Land Department. The application process takes 5 to 7 working days. Once the application is approved, a medical test and fingerprinting is required. At the final stage of the procedure, an electronic visa and Emirates ID are issued.