The United Arab Emirates (UAE) has emerged as a global hub for business and luxury living over the last decade, attracting high-net-worth individuals (HNWIs) from around the world. One of the key initiatives currently driving foreign interest is the UAE’s Golden Visa programme, offering long-term residency to investors and entrepreneurs.

UAE Golden Visa Programme: A Luxury Long-Term Residency

Since its inception in 2019, the UAE’s Golden Visa programme has evolved, becoming a game-changer for foreign investors seeking stability and long-term residency in the region. Prior to the introduction of the programme, gaining a residency visa in the UAE traditionally required applicants to obtain company sponsorship or secure certain types of employment. The Golden Visa programme offers a far more flexible route for HNWIs looking for a quick and easy method, without the visa being conditional on their employment status. When compared to traditional residency methods, the UAE’s Golden Visa programme also means you can secure a longer-term visa, usually renewable every 5 – 10 years. Investors also have the ability to stay outside the UAE for more than the usual period of six months in order to maintain their residence status, ultimately providing way more flexibility overall. The investor can include their whole family, and can also sponsor domestic helpers such as nannies, childminders, maids and personal assistants, etc.

Today’s Golden Visa programme offers several investment routes, but one of the most favourable for many is the real estate investment route. If you are looking to live in Dubai, Abu Dhabi, or any of the Emirate’s states, then you are going to need a property, so why not purchase a property as a way of securing your residency visa. Simple!

Real Estate Investment

The legislation requires the applicant to invest 2,000,000 AED (approximately $545,000 USD) in real estate. This can be off-plan or completed. However, the best part is; unlike most other Golden Visa programmes in the world, the UAE will allow you to mortgage the property investment, meaning you only need to provide a small cash deposit upfront. The deposit will depend on the property you are buying. Typically, developers will ask for a 10% cash deposit to secure a property, so providing the bank deems it affordable for you, you can mortgage the rest of the investment. This unique aspect of the regulations really puts UAE’s Golden Visa programme on the map. The programme previously asked investors for a 50% cash deposit (approximately $275,000) since this deposit requirement was recently dropped, purchasing real estate in Dubai is now more accessible than ever, and we are set to see a surge in investment as a result of this. 

Why Choose Dubai For Residency By Investment 

From the world’s tallest building, a thriving real estate market, a skyline adorned with luxury developments and 365 days of sunshine, Dubai has a lot to offer! It is a very attractive destination for real estate investment. From high-rise apartments to luxurious villas, Dubai offers a diverse range of options for investors seeking a slice of the affluent lifestyle and the city is ever evolving, with new developments popping up almost weekly. 

Ras Al Khaimah, one of the lesser-known emirates, is rapidly gaining attention too, particularly with the construction of the new Wynn resort. This project is expected to be a catalyst for economic growth, enhancing the emirate’s appeal to investors. The diversification of Ras Al Khaimah’s economy through tourism and hospitality projects positions it as an emerging investment hotspot for those who may be looking outside of Dubai.

High-Net-Worth Population and Business-Friendly Environment

The UAE has become a magnet for high-net-worth individuals, drawn by its business-friendly environment and tax efficiency. The country offers a strategic location for businesses looking to access markets in the Middle East, Africa, and Asia. The absence of personal income tax and corporate tax, along with robust legal and regulatory frameworks, makes the UAE an attractive destination for entrepreneurs and investors alike.

Luxurious Lifestyle and Economic Indicators

Dubai is famous for luxury living, offering a lifestyle that blends modernity with tradition. With it opulent skyline, upscale shopping malls, and world-class hospitality and entertainment, the country caters to the most discerning tastes. Not to mention the daily sunshine and stunning beaches. 

As a testament to its wealth, the UAE is home to 68,000 millionaires, 200 centimillionaires, and 15 billionaires. This concentration of affluence not only contributes to the vibrancy of the economy but also showcases the potential for lucrative investments. 

A Truly Global Lifestyle

Dubai stands out as one of the most cosmopolitan cities globally, boasting a remarkably diverse community. Approximately 88.52% of its population comprises expatriates from around the world, while Emiratis represent just 11.48%. This rich tapestry of cultures creates an inclusive and welcoming atmosphere, making the UAE an ideal destination for individuals from all over the globe. Beyond its cultural diversity, the UAE also offers world-class amenities, including top-notch international schools and cutting-edge medical facilities, ensuring a high quality of life for residents of all nationalities. This vibrant blend of cultures and amenities underscores the UAE’s commitment to providing a truly global lifestyle for its residents.

The UAE’s Golden Visa programme, coupled with its thriving property market and elite living, presents an exciting opportunity for foreign investors looking to either fully relocate or spend large periods of time in the region. Contact our expert advisors to see how you could initiate your UAE Golden Visa application with just a 10% deposit, plus fees. 

Tags: golden visa 2024, UAE

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