Impact of Golden Visa on Dubai’s Real Estate 

Dubai, UAE is considered a global hub for innovation, investment and luxury living. People from all over the world come to Dubai to explore its lavish living and unparalleled investment or business opportunities. Investment-friendly policies such as Golden Visa further enhance the city’s fascination, increasing the number of investors and also influencing the property market greatly.

What Is A Golden Visa In Dubai?

A Golden Visa is primarily a long-term residency permit. The UAE government introduced this visa to attract and facilitate investors, talented individuals and entrepreneurs. It is basically a residency-by-investment program that allows investors to stay in a country for an extended period. It means if you buy a property worth ARD 2 million in the United Arab Emirates then you become eligible to apply for a 10-year renewable residency visa. 

The UAE’s Golden Visa program was launched in 2019 to offer extended residency permits to investors, entrepreneurs and talented people. For real estate investors, if they purchase a property worth AED 2 million in Dubai, UAE then they become eligible to apply for this visa, adding to the captivation of the city and attracting not only high-net-worth individuals but entrepreneurs and families. 

Without a doubt, Dubai is one of the best living and working destinations because of its high-end offerings, safe and secure living environment, business opportunities and matchless investment opportunities. The inception of the UAE’s Golden Visa program has increased the confidence of investors and the scope of the property sector.

What Are The Benefits Of Dubai Golden Visa?

Long-Term Residency: If you purchase a property worth AED 2 million in Dubai then you can stay here for an extended period. You do not need any sponsorship to enter here. It means you can live, work and study without any local sponsorship. This is a 10-year residency permit and is also renewable, allowing you to prolong your stay and meet your ends.

Family Sponsorship: This visa opportunity does not only open doors for the applicants but his immediate family also enjoys the benefits of this program. A Golden Visa holder can also invite his spouse, children and parents to Dubai. Yes! It is true. You can now stay with your family in the UAE without any hassle.

Travel Benefits: If you hold a UAE Golden Visa then you can freely enter and exit the country without any hassle. There is no travel restriction. You are allowed to move abroad and after living there for a longer period you can still enter the country. 

Business Opportunities: Given the global standing, unprecedented growth and continuous development of Dubai, starting a business in Dubai is no less than a dream. It is not easy to proceed with this decision unless you hold a Golden Visa. This visa enables you to establish and expand your own business in Dubai and capitalize on the offerings of this dynamic market.

Access To Government Services: Visa holders in Dubai, UAE also enjoy access to all government facilities such as advanced education and top-notch healthcare facilities. It means this program also improves the quality of life and makes people live an extraordinary and desired lifestyle in the United Arab Emirates.

How Does The Golden Visa Impact Dubai’s Property Market?

Enhances Foreign Investment

This visa option encourages long-term foreign investment by attracting high-net-worth individuals and entrepreneurs as it eliminates the need for frequent visa renewal and offers stability. People who desire to expand their businesses or those who seek a comfortable, lavish and serene lifestyle are attracted to Dubai, UAE to stay here for an extended period and enjoy the city’s vibrant lifestyle. This development has significantly increased foreign investment because people can stay here for an extended period without any hassle.

Influences Price Bracket

Since the beginning of this program, investors, entrepreneurs and businessmen have preferred Dubai for their real estate investment. This increase in the demand for real estate has also pushed prices in an upward direction and this trend continues, making Dubai’s real estate investment a beneficial endeavor because investors can generate significant returns from their investments through capital appreciation or rental properties.

Leads To New Developments

The Golden Visa program has also acted as a catalyst for new real estate developments in Dubai. Given the interest and confidence of investors and the continuously increasing demand for real estate, especially luxury properties, developers have emphasized the development of high-end residential properties for sale in Dubai. Investors can now experience a range of investment options such as waterfront villas, branded residences, gated communities and premium penthouses for sale.

Stabilizes The Market

The Golden Visa program attracts long-term and committed investors who normally engage in long-term transactions, stabilizing the property sector of Dubai. Investors from all over the world come to Dubai, UAE. This consistent demand for properties and investment limits the impact of volatility, creating stability in the market.

Grows Off-Plan Property Market

Dubai also comes with a range of off-plan investment opportunities. These incomplete or under-construction properties are easy to purchase because they do not involve extensive down payments and also come with flexible payment plans. Both local and foreign investors can purchase off-plan real estate in Dubai. Professionals, families and foreign nationals also consider off-plan properties for their investments in Dubai because such investment extends significant returns.

Boosts Economic Growth

A long-term residency visa attracts high-net-worth individuals, families, professionals, investors and entrepreneurs. This development creates a steady influx of capital in various sectors such as real estate, hospitality and retail sectors. It also leads to the development and expansion of businesses and creates job opportunities, boosting overall economic growth. The Golden Visa opportunities also ensure the growth and development of the city and strengthen the economy of the United Arab Emirates.

How To Get A Golden Visa In Dubai?

• If you purchase real estate worth AED 2 million or more then you become eligible to obtain an extended residency dubbed Golden Visa in Dubai. You can also consider joint ownership but your share must meet the stated requirement. 
• Once you buy the property and decide to obtain this visa, you can simply obtain this residency visa. Prepare your documents such as proof of property ownership, passport and photographs and submit them to authorized departments such as the Dubai Land Department
• A medical examination is also necessary to ensure that you are eligible 
• You also need to apply for an Emirates ID which is a prerequisite to getting a long-term residency visa in the United Arab Emirates
• Once you complete these processed, your Goldene Visa is issued, enabling you to live for an extended period and sponsor your family

Comparing Golden Visa Options Of Countries

Countries such as Spain (€500,000), Greece  (€250,000–500,000), Hungary (€250,000), Malta (€700,000) and Antigua (€400,000) also offer Golden Visas. You only need to purchase a property worth AED 2 million in Dubai to obtain a renewable 10-year Golden Visa. The UAE aims to attract high-net-worth individuals, highly skilled professionals and global entrepreneurs to foster growth and facilitate them. Along with that, there is no capital gain tax in Dubai, UAE which makes it an even more attractive place to consider for investment. 

The Bottom Line:

The UAE has introduced a Golden Visa opportunity that allows holders to stay in the country for an extended period. If you buy property worth AED 2 million then you can apply for this renewable 10-year residency visa in Dubai. This development has significantly impacted Dubai’s property sector. Investors, high-net-worth individuals, families, entrepreneurs and talented individuals can apply for this visa. Along with other factors such as tax advantages, off-plan real estate investment options and attractive payment plans, the Golden Visa option has also increased the scope of the property sector.

Simplify Buying Property in Dubai with Our Expert Guidance:

Kelt and Co Realty is a prominent real estate development company in Dubai. This property company facilitates real estate transactions by offering tailor-made services. If you desire to buy property in Dubai then get our assistance to meet your ends and realize your investment objectives. Our real estate agents not only help clients find their dream properties but also assist in making profitable investment decisions.