Are you looking to expand your business or relocate to the United Arab Emirates (UAE)? If so, you should consider applying for a UAE Golden Visa.
What is a UAE Golden Visa?
The UAE Golden Visa is a residence permit that provides foreign nationals with a range of benefits. It allows them to live, work, study and carry out business in the UAE, without the need for a work permit or other residency documents. The visa is valid for up to ten years, and can be renewed for an additional ten years.
The UAE has been actively promoting the Golden Visa program in order to attract foreign investors and entrepreneurs. The visa is seen as an attractive option for those looking to expand their business or relocate to the UAE. It provides a number of benefits, including the ability to open a business and access to the UAE’s world-class infrastructure, banking and financial services.
Benefits of a UAE Golden Visa
The UAE Golden Visa has a number of benefits for foreign nationals. These include:
- World-class infrastructure, banking and financial services;
- Ability to open a business in the UAE;
- Access to the UAE’s tax-free economy;
- Competitive job market;
- Freedom to travel and live in the UAE without the need for a work permit or other residency documents;
- Possibility to bring family members to the UAE;
- High-quality healthcare and educational services;
- Ability to invest in real estate, especially in Dubai;
- Investing with cryptocurrencies is allowed.
Investment Options for a UAE Golden Visa
In order to qualify for a UAE Golden Visa, applicants must make an investment in the UAE. The type of investment required depends on the type of visa the applicant is applying for. The most common investment options for a UAE Golden Visa include:
- Investment in a UAE-based company;
- Investment in a UAE-based bank;
- Investment in a UAE-based stock exchange;
- Investment in a UAE-based real estate project;
- Investment in a UAE-based public shareholding company.
The type of investment required depends on the type of visa the applicant is applying for. The minimum investment amount required varies depending on the type of visa.
Real Estate Investment for a UAE Golden Visa
Real estate investment is one of the most popular investment options for a UAE Golden Visa. Investing in real estate in the UAE offers a number of advantages, including access to a world-class infrastructure, attractive tax benefits, and the potential for high returns on investment.
In order to qualify for a UAE Golden Visa that is valid for up to 2 years, applicants must make an investment of at least AED 750,000 (approx. US$204,000) in a UAE-based real estate project. It is possible to invest AED 1,000,000 (approx. US$270,000) and get a Golden Visa for 5 years ( the main applicant must be 55+ years of age). To receive a Golden Visa for 10 years, you have to invest AED 2,000,000 ( approx. US$545,000).
Taxes on Property in the UAE
Property owners in the UAE are subject to taxes on their real estate investments. In general, taxes on property in the UAE are low compared to other countries.
Property owners in Dubai are subject to a 4% municipal tax on the value of their property, in Abu Dhabi - 2.5%, in other emirates - 2%. This tax is collected when the title deed is transferred from the seller to the buyer. There are no other taxes on property.
Different Types of Real Estate Investments
There are different types of real estate investments available in Dubai. These include:
- Residential Property: This includes apartments, villas, and other types of residential property.
- Commercial Property: This includes office space, shops, and other types of commercial property.
- Industrial Property: This includes factories, warehouses, and other types of industrial property.
- Land Investment: This includes land that can be used for development projects such as residential, commercial, or industrial projects.
Processing Times and Fees for a UAE Golden Visa
The fees for a UAE Golden Visa vary depending on the type of visa the applicant is applying for. Generally, the fees range from AED 10,000 to AED 50,000 (approx. US$2,700 to US$20,500).
The processing time for a UAE Golden Visa depends on the type of visa the applicant is applying for. Generally, the processing time can take anywhere from 3 to 6 months.
With Golden Harbors the process for applying for a Golden Visa will be smooth and easy. Our team of experienced professionals will assist you in every step and help you make the most of your UAE Golden Visa. Get in touch with us today to find out more about the UAE Golden Visa.