Changes to the conditions for obtaining a golden visa for real estate in the UAE until 2024

In the United Arab Emirates, the conditions for obtaining a Golden Visa for property for 10 years have been changed. Now investors have more opportunities to obtain this visa, as the mandatory initial payment of at least one million dirhams when purchasing real estate through a mortgage has been canceled.

Previously, investors were required to purchase real estate for at least two million dirhams to obtain a Golden Visa for 10 years, which could be extended.

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Now, if the value of the property is at least two million dirhams, the investor can obtain a Golden Visa for 10 years, regardless of whether the property is purchased through a mortgage loan from a bank or directly from the developer.

Now it is mandatory to provide a statement of payments for real estate, which is assessed by the state authorities of the Department of Land and Property Relations, as well as a bank statement confirming that there are no restrictions on the transaction.

These changes are aimed at strengthening the real estate sector in the Emirates and attracting more properties. Experts believe that these changes will have a positive impact on the real estate market and attract additional investments in the coming years.