Dubai: Can new businessman get Golden Visa immediately after investing Dh2 million in property?

Question: I am a businessman who is planning to move to Dubai. Can I invest in property to get a Golden Visa? What are the rules? And do I become eligible for the long-term visa as soon as I make the investment? Can you help detail the process? 

Answer: In the UAE, a Golden Visa can be granted to an investor who owns one or more real estate properties having a value of not less than Dh2 million, provided that such real estate property may be owned by the investor, singly or jointly. This is in accordance with Article 8 of the Annex Attached to the Cabinet Resolution No. (65) of 2022 Issuing the Executive Regulations of Federal Law by Decree No. (29) of 2021 Concerning the Foreigners Entry and Residence Regulating Golden Residence Permits:

Recommended For You

Abu Dhabi Commercial Bank first half net profit grows 18% to hit Dh5.9b

Who can win The 2025 Open at Royal Portrush? KT's predictions and contenders

Fake job scams, smishing: Dubai Police launch platform to raise awareness on cybercrime

Syria defence minister announces ceasefire in Sweida, a day after Israeli air strikes

Deem Finance redefines credit card rewards with customer-first loyalty programme

 

“1. The investor shall own one or more real estate property with a total value of not less than (Dh2,000,000) two million dirhams, and the real estate property is wholly owned by the investor. It may be a loan, on condition that the loan is from one of the local banks determined by the competent local authority;

Stay up to date with the latest news. Follow KT on WhatsApp Channels.

“2. The real estate property investor shall when buying one or more real estate property units off the map with a total value of not less than (Dh2,000,000) two million dirhams, on condition that the purchase is made from local companies approved by the competent local authority; and

“3. The investor shall have a comprehensive health insurance for himself and his family members throughout the validity term of the residence permit or in accordance with the terms set by the competent local authority. “

Upon approval from the competent authorities, a 10-year long-term residence permit is issued. This Golden Residence Permit allows eligible foreigners and their families to reside independently in the UAE without a guarantor for work, investment, or business, subject to specified terms and conditions. This is under the Article (1) of the annexure attached to the ‘Cabinet Resolution No. 65 of 2022’

“The ICA may – after the approval of the competent authorities, as the case may be – issue a long-term residence permit for a period of ten years. The Golden Residence Permit shall be subject to renewal, for certain categories of foreigners and their families, allowing them to self-reside without the need for the Guarantor/the Host Party inside the State for work, investment, business start-up or stay in the State in accordance with the terms and conditions contained in this resolution.”

The procedural steps for obtaining the Golden Visa based on real estate property investment include:

1. Acquisition of qualifying property

2. Registration of ownership and issuance of a title deed by Dubai Land Department

3. Submission of the Golden Visa application through the DLD, the General Directorate of Residency and Foreigners Affairs, or designated smart platforms (e.g., Dubai REST)

4. Completion of supporting formalities, including medical fitness test and Emirates ID registration

5. Issuance of a 10-year residency visa, subject to continued compliance with eligibility requirements.

Based on the aforementioned provisions of the law, as a businessman intending to move to Dubai, you may be eligible for the UAE Golden Visa upon investing in real estate property with a minimum investment of Dh2 million, subject to the conditions set by the competent local authority. For detailed guidance and to initiate the application, you may contact the GDRFA or apply through the DLD or any authorised smart platform.

Ashish Mehta is the founder and Managing Partner of Ashish Mehta & Associates. He is qualified to practise law in Dubai, the United Kingdom and India. Full details of his firm on: www.amalawyers.com. Readers may e-mail their questions to: news@khaleejtimes.com or send them to Legal View, Khaleej Times, PO Box 11243, Dubai.