In April 2022, the UAE’s Federal Authority for Identity, Citizenship, Customs, and Ports Security (ICA) announced a new set of regulations enabling certain real estate owners to acquire a 10-year Golden Visa in the UAE. These regulations are expected to come into force in September 2022.
Real estate investors in the UAE will be able to obtain a golden visa if they meet one of the following criteria:
· Purchase a property worth no less than AED two million as stated on the title deed;
· Purchase a property with a loan from specific local banks or
· Buy one or more off-plan properties of no less than AED two million from approved local real estate companies.
The legislation will therefore open the door for many new and existing property owners to apply for a UAE Golden Visa.
There are multiple benefits associated with a UAE Golden Visa, including the following:
· Renewable 10-year visa on expiry (subject to still meeting the requirements).
· No sponsor or employer required.
· Extended duration of any length outside the UAE does not nullify golden visa.
· Ability to sponsor spouses and dependents (of any age as long as they are not married).
· The family will be able to use the golden visa of the main applicant in the event of their death until its expiry.
· Ability to convert existing home country driving license to the UAE driving license without the need for a full test.
· Eligible for the Esaad Card which provides extensive benefits and discounts across several sectors including healthcare, education, hospitality, entertainment, real estate, and restaurants amongst others. Exclusive offers and discounts are available for the cardholders at 7,237 brands and businesses within the UAE and across 92 countries worldwide.
At Sanctuary, we have a proven track record of successfully processing eligible applications for the UAE Golden Visa. Our aim is to reduce any stress for the applicant and ensure a smooth approval process where there may otherwise be delays, such as arranging appointments for medicals and biometrics which have lengthy delays, liaising with the correct departments to process the application as efficiently as possible and various other unforeseen complications.
If you have any queries, or would like to apply for your Golden Visa, please get in touch using the contact details below.