Golden Visa
With the Golden Visa, you can obtain long-term residency and work rights in Dubai, the prestigious center of the Middle East. This article comprehensively addresses Dubai and its real estate sector, providing answers to questions that foreign investors may have.
1. What is Golden Visa and What are its Advantages?
Golden Visa
The Golden Visa is a type of visa offered by various countries worldwide, providing foreign citizens with long-term residency permits and work rights. Investors, entrepreneurs, scientists, and successful students are among the key actors eligible for this visa.
Advantages of Golden Visa in Dubai
Dubai stands out globally with its real estate sector. It supports its recognition in the real estate sector with incentive programs for foreign citizens. The Dubai Golden Visa program offers privileged advantages to foreign citizens. The person eligible for the visa is granted long-term residence and work rights. The visa holder can engage in activities such as setting up businesses and entrepreneurship as if they were a citizen of the country. The primary visa holder can bring their family together through family reunification. Additionally, the ease of travel due to faster and simpler visa procedures for other countries is among the advantages provided by the Golden Visa.
2. The Importance and Benefits of Real Estate Investment in Dubai
The Importance of the Real Estate Market in Dubai
Dubai has become the most significant economic center in the Middle East. Its luxury lifestyle, innovative architecture, strategic location, modern urban concept, and favorable tax policies attract the interest of local and international investors. In addition to these features, the high potential for returns in the real estate market positions Dubai as a significant player on a global scale.
Impact of Real Estate Investment on Dubai Golden Visa
Through real estate investment in Dubai, you can seize many opportunities in this city. Various conditions must be met to qualify for the Golden Visa. Among these conditions, real estate investment stands out as one of the most prominent options. This is because the UAE implements policies to revitalise its economy, diversify its social and cultural fabric, and make its global status dynamic.
3. Requirements and Application Process for Golden Visa
Requirements for Obtaining Golden Visa through Real Estate Investment
To qualify for the Dubai Golden Visa, the investor must own a property worth 2 million AED. However, this property must be located in the area designated by the UAE government for foreign citizens. If these conditions, published by the UAE Official Government Portal, are met, the real estate investor can apply for a renewable Golden Visa for 5 or 10 years.
Application Process and Required Documents
The Golden Visa application process is easily completed by gathering the necessary documents specified by the government. The process is completed by obtaining a letter confirming ownership of the property from the Dubai Land Department portal and purchasing the property from local banks approved by government-affiliated authorities.
4. Advantages of Investing in Real Estate in Dubai
Dynamics of the Real Estate Market in Dubai
Dubai has fundamental dynamics that provide advantages in shaping the real estate market. Acting as a bridge between Eastern and Western countries, the presence of projects that encourage foreign investors, appealing to high-end investors worldwide with a lifestyle that pushes the boundaries of luxury living, and guiding environmentally friendly architecture focused on technology and green development make it a global attraction center.
Tax Benefits and Profit Potential Provided to Investors
The Dubai Government offers advantages such as exemption from payments such as real estate affairs or capital gains tax when making real estate investments from any project. In this regard, making the right investment at the right location and time is essential to achieve the expected profitability. For this, seeking accredited consultancy services that facilitate purchase transactions can help you make a sound investment.
5. Popular Real Estate Investment Areas and Projects
Popular Investment Areas and Projects in Dubai
The lifestyles in Dubai represent a luxurious life. The flashy real estate projects the city possesses are fundamental factors that make the region attractive. These areas include:
Downtown Dubai, a region featuring distinguished locations.
Burj Khalifa and Dubai Mall, known as a prestigious investment area with luxury residences, shopping centers, and various activity areas.
Business Bay, a region housing a commercial center of interest for businessmen.
Dubai South Expo 2020 area, a value-generating investment area containing various types of real estate.
Dubai Marina, a popular investment area where modern living is combined with a sea view.
Jumeirah Beach Residence, a region that emphasises the charm of the sea and beach.
Palm Jumeirah, a region that gathers the admiration of both tourists and investors with its villas and residences, while also being among the areas that provide high profitability.
Potential Gains and Returns for Investors
For real estate investors in Dubai, gains and returns vary depending on location, market dynamics, and economic conditions. When these variables move positively, investors benefit from profits.
Frequently Asked Questions and Answers
Frequently Asked Questions and Answers Regarding Obtaining Golden Visa by Investing in Real Estate in Dubai
*Can I take out a loan to buy real estate in Dubai?
Dubai provides credit facilities for foreign investors. Investors can benefit from up to 75% credit based on the suitability conditions determined by the bank for real estate purchases.
*I want to obtain Golden Visa through real estate investment. Can I buy real estate from any region I want?
No. The Dubai Government allows real estate purchases in regions specifically designated for foreign investors.
*Can I bring my helper at home/work with me?
Yes. You can inform the relevant authority that you will sponsor your helper who will accompany you to Dubai.
*Is there a specific type of real estate designated for obtaining Golden Visa?
Yes. For obtaining Golden Visa, the real estate invested in must be approved by the Dubai Government. Options include Off-Plan (unfinished) projects, commercial properties, and completed residences.
*Should the property ownership status be under the person applying for Golden Visa?
Yes, the entire property purchased must be owned by the person applying for Golden Visa, who holds residency in Dubai.