As per reports, the UAE has abolished the previous requirement of a Dh1 million ($272,294) minimum down payment for individuals seeking a golden visa through real estate investment. This move aims to attract more citizens and investors, encouraging them to establish long-term residences in the country.
Before 2019, investors were required to purchase properties valued at Dh2 million or more to qualify for the 10-year renewable residency program. However, even after this change, those opting for mortgages or installment plans were obliged to make a minimum down payment of Dh1 million or 50% of the property’s value to be eligible for the golden visa.
Maroun Abou Harb, an associate at the legal firm BSA Ahmad bin Hezeem & Associates, notes that the recent modification completely eliminates the need for a minimum down payment. Now, investors qualify for the golden visa if the property is valued at Dh2 million or more, regardless of its completion status, being off-plan, mortgaged, or otherwise.
