Dubai: How to obtain a golden visa with real estate worth more than2 million dirhams

The emirate recorded a more than 50% increase in the issuance of 10-year residency permits in the first half of 2023.

There is a noticeable increase in the cost of apartments and villas above 2 million dirhams, which is a key requirement for obtaining a 10-year Golden Visa in many areas of the emirate. Prices in Downtown, Palm Jumeirah, and Dubai Hills have surged due to demand from local, regional, and foreign investors, as well as residents. Even the starting prices for townhouses have exceeded the 2 million dirham mark this year, compared to 1.5 million dirhams in the past couple of years.

The Golden Visa of the UAE is a highly sought-after permit for foreigners.

This is reflected in the fact that Dubai recorded a more than 50% increase in the issuance of 10-year residency permits in the first half of 2023.

Advantages of the Golden Visa:

• Long-term, renewable visa valid for 5 or 10 years
• You can stay outside the UAE for more than 6 months without causing your visa to expire.
• The opportunity to become a sponsor for a family, including spouses and children regardless of their age.
• The opportunity to become a sponsor for an unlimited number of domestic staff.
• The family can stay in the UAE until the visa expires, even in the event of the primary holder of the Golden Visa's death.

In November 2022, more than 150,000 Golden Visas were issued in Dubai to those wishing to register their property, including entrepreneurs, professionals, scholars, outstanding students, and other categories. Real estate investors with assets worth over 2 million dirhams can apply for a Golden Visa by obtaining a preliminary property assessment from the Dubai Land Department (DLD).

It is important to note that an investor can also apply for long-term residency by combining the value of two or more properties to reach the threshold of 2 million dirhams.