Last week, the UAE changed the rules for real estate investors to qualify for a 10-year Golden Visa, removing the requirement of a minimum AED1 million down payment.

Previously, investors needed to put down at least 50 percent of the property value or AED1 million, as a down payment to qualify for a Golden Visa.

The change will likely encourage more residents and investors to establish deeper roots in the UAE by making Golden Visas more accessible through real estate and buoying the property market.

Now, all that is required is for the property value to be AED2 million or more, regardless of the down payment amount or financing terms.

The new initiative could further result in increased investment in the real estate sector by lowering the financial barrier, and more transactions and construction activity could occur.

The key eligibility requirements to receive the 10-year renewable residency permit are as follows:

  • Minimum Investment: Investors are eligible for a 10-year renewable Golden Visa with a total property investment of AED 2 million or more. However, the investment cannot be spread across more than three properties.
  • Shared Ownership: When a property is co-owned, only individuals with a share valued at AED 2 million or more qualify for the 10-year visa. This applies to both family and non-family co-owners.
  • Joint Ownership by Spouses: If a married couple jointly owns a property exceeding AED 2 million but each spouse’s share is less than AED 2 million, either spouse can apply for the visa.
  • Off-Plan Properties: For off-plan properties priced at AED 2 million or above, the investor can apply for the visa subject to certain terms and conditions. The visa approval depends on the developer’s and project’s credibility.
  • Mortgaged Properties: Investors can apply for the Golden Visa even if they have a mortgage on the property as long as its value is AED 2 million or more. The amount paid by the investor does not affect eligibility.

The update is yet to be reflected in government websites, however, lawyers and agents have been informed of the new down payment rule change by the Dubai Land Department, according to local media reports.