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New Dubai Golden Visa Rule 2024

Posted by cafedetech on June 15, 2024
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At the beginning of 2024, Dubai revamped its Golden Visa Rule, offering property ownership privileges, unhindered travel to and from, sponsorship entitlement for visa holders, and elimination of minimum down payment.

UAE Golden Visa:

In 2019, the UAE government introduced the “Golden Visa” for foreign real estate investors, scientists, professionals, and individuals with exceptional talent. This development facilitated exceptional individuals, researchers, scientists, and investors’ freedom to live, work, and thrive freely in the UAE without any restrictions. People who obtain this residency visa can renew it again and again. 

The Golden Visa offers long-term residency to people who aim to establish their future in the UAE. This initiative aims to offer long-term residency, ownership of properties, employment opportunities, and the right to obtain a UAE driver’s license.

New Dubai Golden Visa Rules 2024:

The government overhauled the Golden Visa rule to make it more accessible for interested individuals and facilitate real estate investors, researchers, scientists and students. 

Minimum Down Payment Condition Removed

Previously, one had to have a down payment of AED 1 million to invest in property. The updated version of the Golden Visa rules eliminated this condition. Now, one does not require any down payment to become eligible for the UAE Golden visa.

Qualification Standard Altered

One must have a property worth ED 2 million to become eligible for this Golden Visa

 If an individual possesses property valued at AED 2 million, then he becomes eligible to apply for a Golden Visa. There is no need to evaluate the range of down payment.

Enlarged Residency Period

Now, investors can enjoy long-term stays to nurture their investments. They are eligible to obtain a golden visa valid for 10 years, which can be renewed under the same conditions.

Extended Property Options

Investors can now seek properties worth AED 2 million or more in order to open up ways to extend their stay in the UAE.

Benefits Of New Dubai Golden Visa Rule 2024:

  • Investors can move to the UAE, settle down here and establish their businesses
  • Investors also take advantage of tax benefits that the government offers to facilitate investors
  • Eligible individuals can live, work and study in Dubai for an extended period without any restriction. They can now focus entirely on their objectives without worrying about the visa expiry
  • Golden visa holders can work on their own terms without requiring any local sponsor. So they are free to do their own business. They are liberated from local ownership 
  • People with Golden visas can enjoy the luxury of seeking employment opportunities across a range of fields
  • Visa holders are also entitled to obtain a driver’s license
  • They are entitled to enjoy a high standard of living and also travel freely to and from the UAE
  • Visa  holders are also allowed to sponsor their spouses and children and bring them to the UAE

What Are Golden Visa Requirements In The UAE?

Normally, the following documents are required as eligibility prerequisites.

  • A Golden visa seeker must be a non-UAE national
  • He must have a valid passport
  • His criminal record must be clear

Furthermore, visa requirements may vary based on your specific domain. 

  • Real Estate Investors are required to have the property valued at AED 2 million
  • Entrepreneurs and business owners are supposed to generate 10 jobs from their registered businesses
  • Scientists must have PHD degrees with at least 10 publications
  • Skilled professionals must hold a bachelor’s degree and minimum 5 years of experience in the relevant field
  • Students holding a UAE study visa must be full-time university students within the UAE
  • People seeking a Golden visa must have contributed significantly and hold recognition from a reputable organization 
  • Doctors and nurses must have a valid license and a minimum of 5 years of field experience

Retired individuals can also obtain a Golden Visa if their pension exceeds AED 20,000 per month. High-net-worth individuals with assets surpassing AED 10 million are also eligible to consider this UAE visa.

Golden Visa Dubai Price:

The cost of Golden Visa Dubai varies significantly from one category to another. Visa duration also influences the cost of obtaining a Golden visa

  • Real estate investors require property valued at AED 2 million
  • Entrepreneurs and property owners require AED 500,000
  • For an exceptional talent visa, the fee is AED 500,000
  • A visa for scientists requires AED 500,000
  • Skilled professional visa AED 250,000
  • Student visa AED 100000
  • Humanitarian workers, doctors, nurses and coders each require AED 100,000

How To Obtain A Golden Visa?

It is a very straightforward procedure to get this visa.

  • Gather the required documents
  • Fill out the application form
  • Pay your application fee
  • Submit your application

In 3 to 6 months, you will hear back from the government regarding your Golden Visa.

Summing Up:

In January 2024, the government overhauled the golden visa rule to facilitate investors, coders, students, doctors, and other exceptional people. Now, the down payment condition of AED 1 million has been removed. People with property valued at AED 2 million can obtain a golden visa, and they can also obtain a visa for 10 years, which is renewable under the same conditions.

Want To Invest And Obtain A Golden Visa? Contact Us To Make It Happen:

Kelt & Co Realty is a prominent real estate agency. This property company helps people buy and sell properties in Dubai. Foreign nationals who intend to buy properties to earn a Golden Visa should consult with Kelt & Co Realty’s professionals to make their dream of getting a residency visa come true. Our professional team is dedicated and strives to find the most viable real estate option based on the choices and interests of our clients.

FAQS:

What is the UAE Golden visa processing time?

After submitting the required documents, one has to wait for initial approval. Upon receiving initial approval, it takes around 5 working days to get a UAE Golden Visa.

Can I sponsor my family with a Golden Visa?

Yes. After obtaining a golden visa, you are entitled to sponsor your spouse, children, and parents. However, you need to consider visa categories and choose the most appropriate one to become eligible for family sponsorship.

Is the Dubai Golden Visa really worth it?

The Dubai Golden visa offers a range of benefits, such as the ability to live, work, and study for an extended period without any restrictions. Furthermore, it makes one eligible to sponsor his family, allowing you to bring your dependents with you. Based on this, it can be stated that the Dubai Golden Visa is a worth considering option if you have a plan to live and work in Dubai.

How much is a Golden Visa in Dubai?

Furthermore, the Dubai Golden visa price is not the same for everyone. Investors must purchase properties worth AED 2 million to become eligible to apply for a UAE Golden Visa. 

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