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

Recently, the demand for UAE Golden Visa among wealthy Indians has suddenly increased after some European Union countries are phasing out their Golden Visa programs or tightening rules on real estate investment for those seeking citizenship. Now those who purchase real estate under construction or with a mortgage have the option of obtaining a 10-year residency in the UAE through the Golden Visa.

"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

service centers.

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.

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