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- Dubai Golden Visa for Investors: How to Get it | AX CAPITAL
In 2019, the UAE launched a golden visa program, providing the opportunity to obtain a residence permit in the country for foreign investors. Over time, this program has undergone changes that greatly simplified the process of obtaining residency in the country. In this article, we will tell you what investors can expect and what benefits they can get.
Contents:
- What is the purpose of a golden visa?
- Who can obtain a golden visa in Dubai?
- Types of golden visas for investors
- What opportunities does the Dubai Golden Visa provide?
- Process of obtaining the golden visa for investment in Dubai in 2023
- Conclusion
What is the purpose of a golden visa?
A golden visa is a special type of visa granted by the government to investors and prominent people who wish to invest their money and skills in the country’s development. A special category of visa provides long-term stay and various benefits to foreigners, wishing to live and work in the country while receiving tax benefits and almost full rights of the UAE citizens. The Dubai Golden Visa has become a popular choice among many investors due to its wide range of benefits and few restrictions compared to visas from other countries.
Who can obtain a golden visa in Dubai?
The Dubai Golden Visa opens up many opportunities for the applicant, and the country is at the stage of active global development. That is why there is only a narrow circle of people who can obtain Dubai residency:
- Business investors
- Outstanding scientists and experts in various fields of science
- Students and graduates who distinguished themselves during their studies
- Real estate investors
Types of golden visas for investors
The most popular way to obtain a visa is to invest in residential real estate. This approach allows one not only to obtain a residence permit in Dubai but also to acquire property into which the whole family can subsequently move in. Or you can start renting it out, creating a passive source of income for yourself. We wrote more about the methods and profitability of working with residential real estate in Dubai in this article.
Depending on the amount of investment, the visa will be issued for the following period:
- Resident visa for 2 years for an investment of 750,000 AED (~ $204,240)
- Golden visa for 10 years for an investment of 2,000,000 AED (~ $545,000)
- Dubai citizenship can be issued for particularly large investments in real estate – over 7,345,000 AED (~ $2,000,000)
When purchasing a new property, you can increase the duration of your visa by up to 10 years. As long as you are the owner of the purchased property, your golden visa will be automatically extended.
Also, for particularly large investments, it is possible to obtain the UAE citizenship, which opens up additional benefits. This type of citizenship also does not require investors to renounce their previous citizenship, leaving the right to choose a country for residence.
What opportunities does the Dubai Golden Visa provide?
A golden visa in Dubai opens up many opportunities for investors. Here are some of them:
1. The visa is valid for 10 years
One of the main advantages of the Dubai Golden Visa is its long validity period. The visa is issued for 10 years and can be renewed automatically, as long as you remain the owner of the property in the UAE. This provides stability and security for you and your family.
2. The right to live and work in the UAE without restrictions
A golden visa gives you full rights to stay in the Emirates while doing work, business or simply enjoying life. In addition, the investor’s entire family, including children and parents, also receives a visa.
3. Tax benefits
The UAE is known for its low tax burden. With a golden visa, you will be able to enjoy the benefits of no taxes on income, capital gains, inheritance, estate, and gifts.
4. Opportunity to open a bank account
With a Dubai Golden Visa, you will be able to open a bank account in the UAE, which gives flexibility in managing your finances. You will be capable of storing savings, receiving interest on deposits, and making international payments.
5. Access to health and educational services
With a Dubai Golden Visa, you and your family have access to quality medical services at clinics in the UAE. In addition, the country offers a wide range of educational institutions, including international schools and universities, where you can provide a good education for your children.
Process of obtaining the golden visa for investment in Dubai in 2023
Obtaining a golden visa in Dubai in 2023 requires fulfilling certain conditions. Here's a step-by-step plan to help you get your golden visa:
Step 1. Choose and buy property
At the time of application, the investor must own property in Dubai worth 2,000,000 AED or more.
Step 2. Gather your documents
To apply, you must present a real estate purchase and sale agreement, a 3x4 photograph, a passport, and a bank statement.
Step 3. Submit an application
Submit your application to the Dubai Land Department.
Step 4. Get a medical examination
You need to undergo a medical examination to obtain a health certificate.
Step 5. Get your visa ready
After completing all stages, wait for the response and collect your golden visa.
Conclusion
The golden visa opens up a large number of opportunities for foreign investors not only for life but also for business. Therefore, investing in real estate is a way to start your business in Dubai. If you are interested in obtaining a golden visa in Dubai, contact the specialists at AX CAPITAL, and we will help you fulfill all the necessary conditions, making the process of obtaining a visa as convenient and efficient as possible.