Best Property Visa in Dubai – DLD Taskeen or Golden Visa?
In recent years, the UAE has introduced new property visa schemes to attract more overseas investors to make Dubai their long-term home. “Golden Visa”, “2-Year Visa”, “5-Year Retirement Visa” and “DLD Taskeen” seems to be popular terms that are floating around the Internet, which may cause confusion as to which is best suited for you.
In this guide, we are going to break down the type of residence visa you can get through buying a property in Dubai, including the most talked about visa, the Golden Visa.
DLD Taskeen Visa & Golden Visa – What are the Benefits?
With its latest revision, the UAE property visa program focus on expanding eligibility and reducing minimum investment requirement to attract more investors to qualify for a residence visa.
How does this benefit you?
This means, if you are thinking of buying a property, you may also qualify for a longer term residency program that can offer a range of benefits along with owning a property in Dubai.
Here are some perks of getting a residency visa through buying a property:
1. The Long-Term Perks
For example, Golden Visa are granted residency rights for 10 years, with the option for renewal.
This lets you live in Dubai without the hassle of visa renewal.
2. Freedom to Do Your Thing
Knowing you have a secure legal status (without need a local sponsor) gives you a sense of security and stability.
It’s also very valuable if you are looking to establish roots, build a career, or raise a family.
3. Smooth Travels
You can come and go as you please without the need for additional visas, making business and leisure travel more seamless.
We all know the stress of applying for a tourist visa!
4. Bring the Whole Crew
You can sponsor your entire family, giving them access to top-notch healthcare services, schools and work opportunities in UAE.
This includes spouses, children, and dependent parents, giving your family the opportunity to live together in one city, if that’s a good thing.
5. Access to Business and Investment Opportunities
The Golden Visa can open you up to potential business and investment opportunities in Dubai and the wider UAE.
You can start businesses, invest in the local economy, and participate in the vibrant entrepreneurial ecosystem.
6. You Feel safe
One thing we always hear about this city is how safe they feel. You can have the peace of mind that Dubai provides a safe environment for you and your family.
DLD Taskeen & Golden Visa – Through Property Purchase
Hey, we’re not just here to talk about fancy visas and how they give you a ton of freedom, perks and opportunities.
Let’s break down the types of UAE visa available through property purchase.
In a nutshell, you can get…
DLD Taskeen, Golden & Retired Visa – via Dubai Land Department
- DLD’s 2-year Residence Visa (aka DLD Taskeen Program)
- DLD’s 10-year Golden Visa for Investors
- DLD’s 5-year Golden Visas for Retirees
Golden Visa – via GDFRA
- GDFRA‘s 10-year Golden Visa
- GDFRA‘s 5-year Golden Visa for Retired Foreigners
Golden & Retired Visa – via Stake (Crowdfunded Real Estate Digital Platform)
- 10-year Golden Visa
- 5-year Golden Visa for Retired Foreigners
Note: Dubai Land Department (DLD) and GDFRA BOTH offer Golden Visa (10 Years) and Retired Visa (5 Years).
1. Taskeen Visa or Golden Visa Dubai – via DLD
UAE Visa Type | Who Can Be Sponsored / Added? | Min. Property Investment Value | Requirements |
DLD 2-Year Visa a.k.a DLD Taskeen Program 2-Year Renewable | Family (spouse, unmarried daughters and unmarried sons) | AED 750,000 | • Residential property in freehold zones • Mortgaged properties – 50% of property value (or min. AED 750,000) must be paid upfront • NOC letter along with mortgage bank statement will require to proceed with visa application • Husband and wife can share in one property (marriage certificate attested required) |
DLD 10-Year Golden Visa 10-Year Renewable | Family (spouse, unmarried daughters and unmarried sons) | AED 2 million | • Investor can buy properties (min. AED 2 million) from approved local real estate companies • If property is mortgage, an Noc letter from the bank to issue a visa on the property and shows the paid and remaining amounts • Amount invested can be mortgaged from certain local banks • Property must be retained for at least 2 years • Husband and wife can share 1 property (marriage certificate required) |
DLD Retirement Visa Over Age 55+ 5-Year Renewable | Family (spouse, unmarried daughters and unmarried sons) | AED 1 million | • Unmortgaged property or mortgaged property, for which the payment to date is at least AED1 million • A min. value of AED 1 million as per title deed • Husband and wife can share 1 property (marriage certificate required) • If shared owners, applicant’s shares (and spouse’s share collectively) of property must be min. AED 1 million • Multiple properties with a combed value of AED 1 million may be used, as long as they meet above criteria |
2. Golden Visa Dubai – via GDFRA
UAE Visa Type | Who Can Be Sponsored / Added? | Min. Property Investment Value | Requirements |
---|---|---|---|
GDFRA 10-Year Golden Visa 10-Year Renewable | Family (spouse, unmarried daughters and unmarried sons) | AED 2 million | • Must be freehold • Submission of a letter from the Real Estate Registration Department stating that the investor owns one or more properties worth min. AED 2 million, stating that the property is not subject to a loan • The value of property is permitted to be a loan if exceeds the value of AED 2 million |
GDFRA 5-Year Retired Visa (Retired Foreigner) Over Age 55+ 5-Year Renewable | Family (spouse, unmarried daughters and unmarried sons) | AED 1 million | • Owner of property value min. of AED 1 million, • Or that a financial deposit of no less than AED 1 million inside UAE • Fixed annual income of the retiree should not be less than AED 240,000, provided that a bank statement for the last 6 months is submitted |
3. Golden Visa Dubai – via Stake, Smartcrowd & Baytukum (Crowdfunding Real Estate Platform)
Here are the 3 Crowdfunding Real Estate Platforms that offers opportunities to invest in Dubai’s real estate market, with a minimum investment requirement of AED 2,000,000 (USD 545,000) to qualify for the Golden Visa program.
- Smartcrowd
- Getstake
- Baytukum
UAE Visa Type | Who Can Be Sponsored / Added? | Min. Property Investment Value | Requirements |
10-Year Golden Visa 10-Year Renewable | Family (spouse, unmarried daughters and unmarried sons) | AED 2 million on crowdfunding platform | • Must be in the UAE during Golden Visa process • Stake will submit visa application for you • Medical test required once the pre-approval for the visa is provided by Dubai Immigration • If biometric scan is required for Emirates ID process, an appointment will be scheduled to capture your fingerprints and photo |
5-Year Retirement Visa 5-Year Renewable | Family (spouse, unmarried daughters and unmarried sons) | AED 1 million on crowdfunding platform | • Must be in the UAE during Golden Visa process • Stake will submit visa application for you • Medical test required once the pre-approval for the visa is provided by Dubai Immigration • If biometric scan is required for Emirates ID process, an appointment will be scheduled to capture your fingerprints and photo |
What are the Legal Requirements for Buying a Property in Dubai?
In Dubai, overseas investors are not required to be UAE residents when buying a property in freehold or leasehold zones. Any investor globally that meets the professional investor requirements is qualified to buy a property.
However, if overseas investors are interested in living in the UAE, they can apply for a UAE residence visa through a property purchase. With a UAE resident visa, you can get an Emirates ID, open a bank account, a driver’s license, and sponsor family members.
What are Restrictions for Non-UAE residents when buying property in Dubai?
Non-UAE residents can get mortgages from the banks in the UAE, but the options available may be limited compared to those for expat residents and UAE nationals.
Eligibility criteria for non-resident mortgages vary between banks, but they will mainly look at things like the country of residence, where you live and how much you make.