Exciting developments for global investors eyeing the coveted golden visa in Dubai. The UAE government has enacted a significant overhaul of the golden visa program, abolishing the AED 1 million minimum down payment requirement for eligibility via real estate investments.
Previously, investors were compelled to remit at least 50% of the property value to the bank when acquiring properties through mortgages or instalment plans to qualify for the golden visa. This formidable financial barrier often dissuaded numerous prospective investors.
The transformative update unveiled this year has fundamentally reshaped the program. Investors can now attain a golden visa for properties valued at 2 million, irrespective of their status (be it off-plan, mortgaged, non-mortgaged, or completed). This means that investors can initiate the golden visa process immediately upon settling only the booking amount for off-plan properties.
This update heralds a plethora of opportunities for investors, rendering off-plan properties even more appealing. By commencing the golden visa process at an early stage, investors can capitalize on investments in properties still undergoing construction, potentially yielding higher returns in the future.
