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ReadUntil this month, buying a AED 2 million property in Dubai was not always enough to qualify for the 10 year Golden Visa. If you bought with a mortgage, or on a developer's payment plan, you also had to show that you had already paid at least AED 1 million, or half the price, before you could apply. For most off plan buyers, meaning people who buy from a developer before the building is finished, that put the visa out of reach until late in construction.
That extra condition has now been dropped, according to law firms and agents working with the Dubai Land Department (DLD), the government body that registers property in Dubai. The test is now simply whether the property is worth at least AED 2 million, roughly US$545,000.
What has changed
The law firm BSA Ahmad bin Hezeem and Associates says it was told of the change on January 22 at the Cube, the DLD's service centre for investors. Several brokerages have since confirmed it to the local press. Under the change as reported:
- No minimum down payment. The AED 1 million or 50% paid requirement no longer applies.
- Value is the test. A property worth AED 2 million or more qualifies whether it is completed or off plan, and whether or not it carries a mortgage.
- Off plan buyers are asked for a statement of account from the developer showing what has been paid and what remains.
- Mortgaged buyers need a no objection certificate, a short letter from the lending bank confirming it does not object to the application.
In practice, agents say an off plan buyer may be able to apply after paying only the initial instalment, which on some projects can be well under 10% of the price. A mortgage buyer who has put down the common deposit of around 20% should also qualify.
What is still unclear
The change has not been announced through a formal decree or press release, and at the time of writing it had not appeared on the DLD's Cube website or on the website of the General Directorate of Residency and Foreigners Affairs, the Dubai authority that issues residence visas. When asked by The National, the DLD said only that the eligibility criteria for property investors were unchanged, with a minimum property value of AED 2 million. Some advisers also say off plan applications are being considered case by case.
The likely reading is that the value threshold itself has not moved, while the separate payment condition has been relaxed in practice at the Cube. Until written guidance is published, buyers should expect some variation in how individual applications are handled.
What the Golden Visa offers
The property Golden Visa is a 10 year renewable residence permit. It is self sponsored, so it does not depend on an employer or a company. Holders can sponsor a spouse, children and parents for the same period, and, unlike standard residence visas, the Golden Visa is not cancelled if the holder spends more than six months outside the UAE. Several properties can be combined to reach the AED 2 million figure, and joint ownership works if the applicant's own share meets the threshold.
The UAE has no personal income tax, which is a large part of the appeal. A residence visa on its own does not settle anyone's tax position, though. Home country rules and time actually spent in the UAE matter just as much.
What it means if you are considering the Golden Visa
The change lowers the cash needed upfront. A buyer who could finance a AED 2 million property but did not have AED 1 million in equity can now look at the Golden Visa much earlier, and off plan purchases become a realistic route rather than a long wait.
It does not remove the usual risks. An off plan property depends on the developer finishing the project, a mortgage has to be serviced, and the visa is tied to keeping the qualifying property. Choose the developer with care, check that the value recorded by the DLD meets the threshold, and get written confirmation of the documents required before you commit. We help clients apply, work with our local team, and quote our fees in writing.
Buying property as part of a residency or citizenship plan? Our real estate due diligence service checks the title, the developer and the valuation before you commit, so the purchase also satisfies the visa rules.
This article is general information, not legal, tax or investment advice.
