UAE Golden Visa: Dubai makes major change to property down payment requirement Featured Image

UAE Golden Visa: Dubai makes major change to property down payment requirement

December 6, 2023

The new rule in the UAE regarding the golden visa through real estate investment involves the removal of the AED1 million ($272,294) minimum downpayment requirement. Previously, in order to qualify for the 10-year renewable residency scheme introduced in 2019, investors were required to acquire property valued at AED2 million or above. However, for properties bought on mortgage or installment plans, a minimum downpayment of AED1 million or 50 percent of the property’s value had to be paid to the bank or developer to be eligible for the golden visa.

The recent change eliminates the need for a minimum downpayment altogether. Now, investors can qualify for the golden visa if the property’s value is AED2 million or above, regardless of whether it’s off-plan, completed, mortgaged, or not mortgaged. This significant shift allows investors to access the golden visa with more flexibility, as they are no longer bound by a specific downpayment requirement. The adjustment is expected to broaden the appeal of the golden visa, potentially attracting thousands more investors to the program.

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