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UAE Golden Visa: Dubai eases rules for property owners

Dubai has eased the rule for property owners to get the UAE Golden Visa, allowing those with mortgaged properties to apply for the 10-year visa.

Previously, one of the rules in obtaining the visa is to own a property worth at least Dh2 million and not subject to a loan or mortgage.

Now, those who have invested in an off-plan property worth at least Dh2 million can be eligible for the visa. Property owners must have paid at least 20 percent of the property’s value as down payment, which is required for a mortgage. In the UAE, homes can be financed for up to 80 percent.

Applicants can then submit the title deed of the property, letter from the developer or mortgage document from the bank, and their passport copy along with a photograph.

The Golden Visa is valid for 10 years and is renewable. It does not require a sponsor for the visa holder to stay in the country. Visa holders can also sponsor their spouses, children and parents to be given the 10-year visa. ICA/Expat Media

ALSO READ: UAE Golden Visa: 16 questions to know if you qualify


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