The UAE Government has lifted the requirement for an initial down payment to obtain the "golden visa"

In recent years, the UAE, the second-largest economy among Arab countries, has implemented a series of economic, social, and legislative reforms to attract a greater volume of foreign direct investment and skilled workforce to the country. For instance, in 2019, the "golden visa" programme was launched, granting a 10-year residency right in the country to outstanding professionals and affluent foreign investors. One popular way to obtain such a visa is by purchasing real estate in the emirates.

In 2022, changes were made to the "golden visa" programme to simplify criteria and expand beneficiary categories. In early 2024, the authorities in the Emirates carried out another reform, eliminating the minimum initial contribution required from real estate buyers obtaining the visa through credit. Before this reform, property buyers were required to make an initial contribution, either amounting to $272,000 or 50% of the property's purchase price. The aim of the reform is to stimulate foreign demand.

Now, investors can obtain the "golden visa" if the cost of the acquired real estate is 2 million dirhams ($545,000), regardless of whether it is in the planning stage, under construction, on the market, mortgaged, or purchased with personal funds. The criteria for obtaining this visa remain unchanged. In addition to real estate purchases, the "golden visa" can be obtained through investments in the UAE's economy. It is also available to qualified workers with a monthly income exceeding $8,170, outstanding scholars, and art professionals.