DUBAI – The United Arab Emirates offers Golden visa, a long term residence permit, to eligible individuals including investors, entrepreneurs, scientists, outstanding students, humanitarian pioneers and frontline heroes.
There are two types of UAE Golden visas – 5 year Green Residence visa and 10-year visa. Here, PO will discuss the five year residence visa for property investors.
5 year Green Residence visa
This type of visa is offered to skilled professionals, freelancers, investors and entrepreneurs. The applicant can add up to three executives and family in this visa.
Successful Golden visa applicants from abroad are initially given a six-month visa with which they can enter the UAE, explore the opportunities, and settle. During this period, they are required to convert their temporary visa into a residency permit. There are no age or nationality restrictions for Golden visa applications.
5-Year Visa for Property Investors
The Visit Dubai’s official website says granting a visa is subject to the following conditions:
The property investor must invest a gross value of not less than AED2 million (approx. US$544,484).
The amount invested in real estate can be with a loan from certain local banks.
The property must be retained for at least two years.
The investor buys one or more off-plan properties of no less than AED2 million (approx. US$544,484). from approved local real estate companies.
What is the minimum investment for 5-year residency in Dubai?
A minimum investment of AED 2 million or approimately US$544,484 is required for a 5-year residency visa.
