Expats merging properties to get Golden Visa in Dubai, UAE
The UAE visa residency device announced that real estate investors may furthermore obtain a Golden visa when purchasing a property worth no less than AED 2 million. This has cleared the way for many Dubai residents to merge or invest in their homes to reach the AED 2 million milestones and be eligible for long-term residence inside the UAE.
Imran Farooq, CEO of Samana Developers, remarked on the Golden Visa, stating that the Golden Visa is the icing on the cake to encourage people to spend more. It is also an important tool for keeping people engaged in the Dubai Expo 2020. People used to hunt for one-bedroom residences in the past, but now they’re looking for membership deals to reach the AED2 million level to obtain the Golden visa.
He stated that the demand for -bedroom devices has increased, whilst many dealers are taking one-bedrooms to reach the AED2 million level.
The CEO also stated that the company has seen around 35 to forty percent of its clients merge residences to obtain the AED2 million step ahead to obtain the Golden visa. The top buyers of the residences for the Golden visa are primarily Africans, Europeans, and CIS-Commonwealth of Independent States citizens.
The company has also launched a one-stop service to aid consumers in obtaining Golden Visa and has assisted approximately eighty clients in obtaining Golden Visa.
The Dubai-based whole developer plans to deliver more residences in July and August and has already completed six projects.
A Nigerian national named Paul (name changed on request) asserted that he purchased many homes from great builders in Dubai, entitling him to the Golden Visa.
Yuan Li (name changed on request), a Chinese national, has offered three properties in Dubai. He indicated that the key reason for acquiring property is to obtain a Golden visa. He mentioned that he had AED3-4 million and wished to obtain the Golden Visa by investing in property.
How to Get a Golden Visa Through Real Estate Investment in the UAE
- Purchasing a property valued at AED2 million or more.
- Merging or associating properties to raise the charge to AED2 million or more.
- Investing in an off-plan asset worth no less than AED2 million and paying in installments-this would relieve the burden on the clients, as they will no longer have to invest a lump sum amount one-time.
- Obtaining a mortgage from a neighboring bank if the value of the property is greater than AED2 million.
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