GOLDEN VISA The UAE has abolished the previous requirement of a Dh1 million minimum down payment for individuals to qualify for a golden visa through real estate investment, aiming to attract more residents and investors to establish deeper roots in the country. Previously, to qualify for the 10-year renewable residency programme introduced in 2019, investors were required to acquire property valued at Dh2 million or above. However, for properties bought on mortgage or installment plans, homebuyers had to make a minimum down payment of Dh1 million, or 50 per cent of the property’s value, to the bank or developer to be eligible for the golden visa.
The recent change eliminates the need for a minimum down payment altogether. Now, investors can qualify for the golden visa if the property’s value is Dh2 million or more, regardless of whether it’s off-plan, completed, mortgaged, or not mortgaged. This policy shift is expected to stimulate increased investment in the real estate sector, attract a more diverse pool of investors, and foster economic growth associated with the real estate industry.
The broader eligibility criteria for the golden visa may make the programme more accessible to individuals with varying financial capacities, while also serving as a strategic response to market dynamics and potential price drops. By facilitating easier access to the golden visa, the government aims to ensure sustained growth and resilience in the UAE’s real estate market, attracting new investors and instilling confidence in existing stakeholders.