UAE gold visa demand rises amid booming Dubai real estate market - Arabian Business.

"It is a fact that one can get a Golden Visa when buying a secondaryor unfinished property for AED 2 million that can be mortgaged covers all the usual scenarios, not only for investors but also for UAE residents who own real estate," Lynnette Sacchetto, a real estate consultant with a local presence in the UAE, said earlier.

The UAE government has also significantly reduced the real estate investment requirements for obtaining a Golden Visa. The new rules also have no requirements on the type of transaction - whether the real estate unit is unfinished or finished, paid for through a mortgage or cash.

This is how you can apply for a Golden Visa through real estate investments:

Dubai Land Department

Investors inreal estate can apply for a Golden Visa through the Dubai Land Department (DLD).

Step 1: The client visits one of the DLD

Step 2: The client submits the necessary documents and pays the fees

Step 3: Medical examination takes place at the center

Step 4: The visa is pasted into the passport

Necessary documents:

• Passport
• Possession of an electronic copy of the certificate of ownership
• Personal photo
• A valid health insurance
• Original Emirates ID

Investment Terms:

Investor visa for 10 years:

• Real estate with a minimum value of AED 2 million or an ownership interest (one or more properties)in the name of the applicant
• In case the property has a mortgage, at least AED 2 million of the property value must be paid to the bank. In this case, a letter of authorization to sell and proof of payment is also required.
• Husband and wife can be co-owners of the same property, but a marriage certificate is required.

To keep up to date with all the latest UAE and GCC business news, follow us on Twitter and LinkedIn, become a fan on Facebook and subscribe to our YouTube page, which is updated daily.