<p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember37">The UAE introduced the golden visa programme to allow for a 10-year residency to encourage exceptional individuals and foreign investors to establish deeper ties to the country.</p><p><img src="https://patandco.ae/storage/news/article-cover.jpg" alt="Article-Cover" loading="lazy"><br>&nbsp;</p><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember38">At a time when many countries are ending their golden visa programmes, the UAE is making it easier for investors and families to come and settle in the country.</p><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember39">In its most recent initiative to make its golden visa accessible, the UAE has announced the cancellation of the Dhs1m ($272,294) minimum down payment requirement, as per a report by leading daily<span class="white-space-pre"> </span><i>The National</i>.</p><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember40">The scrapping of the Dhs1m real estate investment requirement will help widen the pool for those looking to qualify for a Golden Visa.</p><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember41">Dubai’s General Directorate of Residency and Foreigners Affairs website has not yet been updated to reflect the change.</p><h2 style="margin-left:0px;"><span style="font-size:23px;">What changes for the UAE Golden Visa applicants?</span></h2><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember43">The eligibility criteria change impacts only those applicants who are using the real estate investment track.</p><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember44">While the property value requirement, which is set at a minimum of Dhs2m remains unchanged as per<span class="white-space-pre"> </span><i>The National</i>, the scrapping of the down payment criteria means that investors will no longer have to pay Dhs1m as proof of investment.</p><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember45">This change was confirmed by law firm BSA Ahmad bin Hezeem &amp; Associates. The firm additionally said the change means that investors can qualify for the golden visa if the property’s value is Dh2m or more, regardless of whether it’s off-plan, completed, mortgaged or not mortgaged.</p><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember46">Additionally, the property valued at or above Dhs2m, can be a shared one – for example between spouses, but the share of the applicant should be worth Dhs2m.</p><h3 class="ember-view" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;margin:3.2rem 0px;word-spacing:0px;" id="ember47"><span style="font-size:23px;">Original requirements</span></h3><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember48">Previously, to qualify for the 10-year renewable residency programme, which was introduced in 2019, investors were required to acquire property valued at Dh2 million or above.</p><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember49">Furthermore, for properties bought using a bank mortgage or installment plans, homebuyers had to make a minimum down payment of Dhs1m, or 50 per cent of the property’s value, to the bank or developer to be eligible for the golden visa.</p><h3 class="ember-view" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;margin:3.2rem 0px;word-spacing:0px;" id="ember50"><span style="font-size:23px;">UAE Golden Visa for exceptional individuals</span></h3><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember51">The UAE introduced the golden visa programme to allow for a 10 year residency to encourage exceptional individuals and foreign investors to establish deeper ties to the country.</p><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember52">In 2022, amendments were introduced to the golden residency initiative to simplify the eligibility criteria and expand the categories of beneficiaries.</p><p class="ember-view reader-content-blocks__paragraph" style="background-color:rgb(255,255,255);color:rgba(0,0,0,0.9);font-family:'-apple-system', 'system-ui', 'system-ui', 'Segoe UI', Roboto, 'Helvetica Neue', 'Fira Sans', Ubuntu, Oxygen, 'Oxygen Sans', Cantarell, 'Droid Sans', 'Apple Color Emoji', 'Segoe UI Emoji', 'Segoe UI Emoji', 'Segoe UI Symbol', 'Lucida Grande', Helvetica, Arial, sans-serif;font-style:normal;font-weight:400;line-height:1.75;margin:1.6rem 0px;word-spacing:0px;" id="ember53">Source: Gulf Business</p>