According to the developers, they note that financial backers have “merged two properties to reach the Dh2 million golden visa limit”, increasing the demand for two-bedroom units of properties for sale in Dubai. Many financial backers will take two units of one room for the visa option. and the top Properties purchasers for Golden Visa are “fundamentally Europeans, Africans, and nationals of the Commonwealth Independent States (Russia, Ukraine, and so on).”
This plan isn’t new to designers in that frame of mind, as other land organizations exploit the casual Golden Visa rules.
Buyer demand for homes above AED 2 million has increased after the government announcement for the new visa regulations -pushing it to set up a dedicated after-sales team to assist investors in obtaining long-term residency. And, This all process has been completed with the support of the UAE government which Just recently significantly dropped the required amount of property investment to obtain the Golden Visa. Taking effect in September this year, the new rules also don’t include any specifications on the property transactions – whether the units or ready for off-plan or paid through a mortgage or in cash.
Land finance backers are eligible for the fantastic visa even if they are using a specific local bank’s credit to purchase a property. If the properties are off-the-plan, they may also qualify for the brilliant visa if they are bought from approved local land organizations. The sectional threshold for obtaining a brilliant visa can occasionally be lowered by the engineers offering instalment plans that allow you to satisfy all conditions for a brilliant visa with a down payment as little as 10% without a home loan (AED 200,000) and 25% with a home loan (AED 500,000). There will be a whole slew of new financial backers, both local and foreign, entering the market as a result of the April 2022 change in the rules.
Criteria must be fulfilled:
- Purchase one or more off-plan homes from recognized local real estate firms for no less than AED 2 million.
- If the property is mortgaged, the bank must get at least $200,000 of the property value. In this situation, a note confirming payment and a NOC should be issued.
- Acquire a home using a loan from one or more local banks.
- A husband and wife can live in the same home. As evidence, a marriage license is essential.
- A property or owned part worth at least $2 million that is registered in the applicant’s name.
The process for Golden Visas and long-term residency for investors who meet the necessary requirement, such as the Dh2 million, Dh5 million, and Dh10 million ceilings, will begin in September 2022.
Contact US Al Zaeem Real Estate in Abu Dhabi, UAE
