Foreign investors aiming to relocate to Dubai can obtain the UAE’s 10-year Golden Visa by investing in property valued at a minimum of Dh2 million. Legal expert Ashish Mehta, the founder and Managing Partner of Ashish Mehta & Associates, outlined the legal options available for new businessmen seeking long-term residency in the UAE in an article published by Khaleej Times.

To qualify for the Golden Visa through real estate, an investor must own property worth at least Dh2 million, either individually or jointly. This ownership can include mortgaged properties, as long as the mortgage is obtained from a local bank approved by the relevant local authority. Additionally, investors can purchase off-plan properties valued at a minimum of Dh2 million from local developers sanctioned by the competent authority.

Maintaining comprehensive health insurance for oneself and family members throughout the visa’s validity is also a requirement. According to the law, “The investor shall own one or more real estate property with a total value of not less than Dh2,000,000… It may be a loan, on condition that the loan is from one of the local banks determined by the competent local authority.” For off-plan investments, the law states that “The purchase is made from local companies approved by the competent local authority.”

Once these criteria are fulfilled, the steps to receive the Golden Visa include purchasing and registering eligible property with the Dubai Land Department (DLD), obtaining a title deed, applying for a visa through the DLD or the General Directorate of Residency and Foreigners Affairs (GDRFA), completing a medical fitness test, and registering for an Emirates ID. The final approval will grant a 10-year renewable residence permit, as outlined under Article 1 of the annex to Cabinet Resolution No. 65 of 2022.

In response to a query published in Khaleej Times, Ashish Mehta explained that a businessman wishing to relocate can apply for the Golden Visa immediately after purchasing qualifying real estate worth at least Dh2 million, provided all necessary requirements are met. He recommended reaching out to the GDRFA or authorized platforms like the Dubai Land Department to initiate the application process.

Mehta stated, “Based on the aforementioned provisions of the law, as a businessman intending to move to Dubai, you may be eligible for the UAE Golden Visa upon investing in real estate property with a minimum investment of Dh2 million, subject to the conditions set by the competent local authority.”

The UAE continues to establish itself as a global hub for investors and entrepreneurs. The Golden Visa not only provides long-term stability but also grants the freedom to live and operate independently in the country, making it an attractive option for foreign businessmen looking to settle in Dubai.