Dubai has one of the most vibrant real estate sectors in the world. Over the last ten years, the city has grown from an ordinary urban center to a center of economic excellence and a lucrative business hub attracting several big economic players.
The government of the UAE has played a major role in the growth of Dubai because of the investor-friendly policies and regulations.
In 2020, the government launched the UAE 50 Economic plan in line with the UAE continental 2071 goals. The chatter aims to boost the national economy, increase GDP, promote local business, strengthen the place of UAE-based companies globally, and most of all, provide investors with access to markets worldwide.
The property market was the key focus, and with the tax-free policy on properties and the high ROI, the sector is expected to grow even bigger and better with time. The new golden visa policy was the icing on the cake.
What is a Golden Visa?
The Golden Visa is a new policy by the United Arabs Emirates government that was introduced to enable foreigners to live in UAE for up to 10 years. It is issued to international students and investors. It is renewable and reserved for particular categories like investors and individuals with impeccable talents.
What are the benefits of the golden visa scheme?
There are several benefits of having the golden Visa Dubai, especially for investors looking to invest in Dubai real estate, including
The luxury of staying away outside the UAE for an unrestricted amount of time without losing the residency permit.
As an investor, time is money. Even though decentralizing roles is a great business strategy, overseeing what’s going on in your business empire is vital to your success. If you want to invest in Dubai’s real estate sector, this visa will enable you to do that easily.
This makes investing and managing your estates easier regardless of where they are. With the Golden Visa, investment mobility is achievable.
Allows your first family to stay in UAE until the golden Visa expires
If you want to fully relocate your family and business empire to UAE, then this Visa is a savior. It allows you and your entire family to stay in the country until the validity of the Visa expires.
And since Dubai is one of the safest places to raise a family, there is a massive entry of people to the city, especially young parents and investors. This has led to increased demand for housing units, thus spurring the real estate sector.
Golden visa owners are eligible for a six-months entry visa
The entry visa allows owners to stay in UAE for 6 months before issuing residency permits.
It can sponsor an unlimited number of domestic helpers
With a golden visa, you can sponsor as many domestic helpers as you please. This is one of the reasons why the UAE is one of the best places to raise a family and manage your business.
Golden visa investors get reduced mortgage rates
In a bid to attract investors, several banks in Dubai offer real estate Golden Visa investors subsidized mortgage fixed-interest rates. This makes investing in real estate cheaper, thus maximizing the investors’ profits.
Moreover, non-real estate investors are also offered attractive rates on savings accounts. Now you see why you should apply for your Golden Visa Dubai now!
Golden visa holders are entitled to annual health insurance schemes
As a real estate investor, one of the biggest considerations when looking for the best place to invest in family safety. Family comes first in everything, even as you look for money. In Dubai, golden Visa holders get unbeatable insurance premiums on annual health coverage. This applies to both family and staff inside and outside UAE.
What are the eligibility criteria for investors?
To be eligible for this premium plan, you must invest at least AED 2 million in the property.
What is the price of a Golden Visa?
The cost ranges from AED 2800 to AED3800, depending on the type of service and visa category. However, if you apply outside UAE, you will be charged anywhere between AED 3800 and AED 4800.
Real estate developers in Dubai are taking full advantage of this scheme to attract potential buyers with attractive benefits offered. Shouldering the cost of obtaining the Golden Visa is one way that has proved practical.
With a Golden Visa, Foreign business owners and investors are guaranteed 100 percent ownership of their business within the UAE. These visas are valid for 5 or 10 years and will automatically be renewed. This has seen a spike in people wanting to live and invest in Dubai, therefore, resulting in a booming real estate sector.