Golden Visa in Dubai: Can new investors be eligible immediately with DH2 million property investment? , world News
According to the founder and managing partner of Ashish Mehta and Associates, foreign investors transferred to Dubai can secure the 10 -year golden visa of the United Arab Emirates by investing at a minimum DH2 million assets. Mehta, a licensed to practice laws in Dubai, UK and India, shared a legal route for new traders seeking a long -term residence in the United Arab Emirates published by the Khaleej Times.Golden visa is a long -term residence permit given to characters and their families, allowing them to live, work and invest in the UAE without local sponsors. This cabinet is regulated under Article 8 of the attachment attached to the resolution number. 65 of 2022, which implements the federal law by decree number 29 of about 2021 about the entry and residence of foreigners.
Investment criteria and legal requirements
To qualify for a golden visa through real estate, an investor must be:Property or assets of DH2 million or more, either completely or jointly. Ownership may include mortgage properties, provided that the loan is from a local bank approved by the competent local authority.Purchase of at least DH2 million priced from local developers authorized by competent local authority.Maintain comprehensive health insurance for yourself and your family members according to the validity of the visa or according to the requirements prescribed by the authorities.According to the law:“Investor will be the owner of one or more immovable property with a total value of DH2,000,000 not less than DH2,000,000 … it can be a loan, on the condition that the loan is from one of the local banks set by the competent local authority.”And for off-plan investment:“The purchase is approved by the competent local authority from local companies.”Steps to secure 10 years of residenceOnce these conditions are fulfilled, it causes to release the golden visa in the following stages:Purchase and registration of eligible property with Dubai Land Department (DLD)
Issuing title deeds
Approved digital platforms such as visa application, or Dubai Rest through DLD, GDRFA (Residency and General Directorate of Affairs Cases)Medical fitness testing and completion of Emirates ID registrationFinal approval and 10 -year renewable residence permitThe process should be approved by the local authorities concerned. As stated under Article 1 of Anex, from the cabinet resolution number 65 of 2022:“ICA issues a long-term residence permit for a period of ten years after the approval of the competent authorities … allows them to self-disconnection without the need of a guarantor/host party inside the state.”
New businessmen can apply immediately after investment
In response to a query published in the Khaleej Times, Ashish Mehta clarified that a businessman planning to go to Dubai at least can apply for a golden visa to buy at least DH2 million qualified real estate, provided all the requirements are met. He advised to contact Dubai Land Department such as GDRFA or authorized platforms to start the application process.Mehta said, “Based on the above provisions of the law, as a businessman to visit Dubai, you may be eligible for UAE Golden Visa if you invest in immovable property with minimal investment of DH2 million subject to the conditions set by the competent local authority.”The UAE continues itself as a global center for investors and entrepreneurs. Golden visa not only provides long -term stability, but also independently provides freedom to live and operate in the country, making it a compelling incentive for foreign traders planning to install roots in Dubai.
