UAE Opens Doors: New Rules for Obtaining Golden and Resident Visas
The United Arab Emirates, seeking to attract highly qualified specialists and significant investments, have significantly updated the conditions for obtaining long-term visas for investment.
Now it has become easier to obtain the coveted golden visa for 10 years or a resident visa for 2 years, but the conditions have also become stricter in some respects. Let's take a closer look at what exactly has changed.
Real Estate Investments: New Rules of the Game
The key change concerns investments in real estate. Previously, buying real estate with a mortgage was an acceptable option for obtaining a visa. Now, the property must be fully paid for. However, the UAE has met investors halfway by allowing them to invest in real estate at the construction stage. Two options are offered for this:
Making a down payment of at least 50% of the property value. This option allows you to begin the process of obtaining a visa before construction is completed, which is attractive for those planning long-term investments.
Providing a bank guarantee for the remaining amount. This is an option for investors who have the necessary collateral, but prefer not to use their own funds for the entire construction period.
It is important to note that the refusal of a mortgage makes real estate investments more capital-intensive, raising the entry threshold for some categories of investors.
Entrepreneurs and skilled professionals
For entrepreneurs with innovative projects or support from local business incubators, the conditions have become more favorable. The minimum value of real estate required to obtain a visa has been reduced to 500,000 dirhams (about 136,000 US dollars). This significantly expands the circle of potential applicants, allowing talented entrepreneurs with limited start-up capital to obtain long-term status in the UAE.
The UAE is seeking to attract highly skilled workers by simplifying the visa process for professionals with proven qualifications. Documentation requirements for PhDs, doctors, engineers, and artists and cultural figures have now been significantly simplified. This will allow these professionals to obtain long-term residency more quickly and easily and contribute to the development of the country.
Conclusion
The UAE’s new visa rules demonstrate the country’s commitment to diversifying its economy and attracting talent from around the world. While some conditions have been made more stringent (such as the abolition of mortgages for real estate investments), overall the changes are aimed at creating a more attractive environment for investors and highly skilled professionals, ensuring long-term stability and development opportunities in the UAE.
However, before submitting an application, it is necessary to carefully study all current requirements and conditions, consulting with immigration specialists.
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