Some questions about Dubai golden visa / Dubai residency

[LegitBananas]

I'm learning about the Dubai golden visa which gives you a 10 year residency card for investing in real estate and I'm finding it interesting, however I have some questions for those who might be more knowledgable about this:

1. Are there any obligations for staying/entering Dubai in order to maintain this visa? I would like the freedom to stay out of Dubai for however long I please and not lose it, even it means leaving for more than 1 year without visiting.

2. Does obtaining this visa make me a legal tax resident of the UAE meaning I have to file taxes and have some bureaucratic obligations every year? (I know there is no personal income tax, but I'm assuming there are still some formalities). Also can I claim I'm a UAE tax resident to a 3rd country i want to open a bank account in? (but not live in).

3. Would obtaining the visa give me the freedom to move all of my personal stock or cash to a UAE brokerage/bank?

thanks in advance!

 

[Shories]

- No minimum stay requirement for Golden Visa holders
- Can⁤ remain outside UAE for unlimited duration
- Visa remains valid even if you don't enter⁣ UAE for multiple years
- Visa must be renewed every 10 years
- Property investment⁢ must remain active during visa validity

- Obtaining Golden Visa alone ≠ Automatic tax residency
- For UAE tax residency, need to meet specific criteria: Physical presence needed of 183+ days︅ in UAE per year, primary home in UAE and center of vital interests in UAE︆
- UAE tax residency certificate requires: Emirates ID, proof of accommodation and minimum stay requirements︇
- Cannot claim UAE tax residency solely based on Golden Visa
- Third-party banks likely︈ require additional proof beyond visa

- Golden Visa allows: Opening UAE bank accounts, trading with UAE brokerages and︊ maintaining financial assets in UAE
- No restrictions on capital movement
- Can maintain investments︋ globally
- UAE financial institutions still require: KYC documentation, source of funds verification, compliance with︌ international regulations (FATCA/CRS)

Remember too:
- Minimum real estate investment: AED 2 million
- Property︍ must be fully paid (no mortgage)
- Investment can be in multiple properties
- New︎ regulations allow for off-plan purchases from approved developers

This response was prepared by on-the-fly research;️ it was not made by our consultants. I do not guarantee 100% accuracy.

 

[LegitBananas]

Thanks a lot! This is very helpful

 

[kristoher]

It would appear you can now qualify whilst having a mortgage

 

[PinkCat]

Until recently it was 2M AED property investment with at least 50% paid (if it‌ is on off plan on a payment plan) beginning of this year they changed it‍ so that even down payment is enough which is usually 10 or 20% of the⁠ property value. So for 200 to 400K aed you can start the process.

 

[kristoher]

I thought the lowest was 20%?

 

[Brutus]

The timing of this post is amazing! I wanted to start doing⁣ more research into the UAE golden visa now since past few years my funds were⁢ invested in crypto and I didn't want to cash out 500k from crypto in order︀ to buy a property but with the current rates I would diversify. Where would be︁ the best place to start doing research? I mean looking for banks that offer these︂ mortgages or brokers that do this or the actual developers, etc..?

 

[PinkCat]

@kristoher for bank financing probably yes, actually even more if you are not a resident‌ yet.
For off plan properties with a payment plan, often the first payment is 10%‍ but also often the second payment is again 10% within just few months.

actually Im⁠ not even sure if that works with mortgage for the golden visa, but for sure⁤ works for an off plan property.

@Brutus I looked very shortly into bank financing, since⁣ they what to see salary and other workers stuff, which I don't have since my⁢ income is from dividends from my own businesses and investments. But I know there are︀ credit consultants which can direct you.

About the property itself, that is so overwhelming! There︁ are so many projects I was dizzy for a time. So I found couple of︂ brokers that I trust, they made me several suggestions of stuff they think is good︃ and I hand picked few that I like. Basically they did the broad narrow down,︄ I did the final.

Beware though, most brokers are not professional and will recommend even︅ a dumpster fire. First they don't care, second they are not investors themselves so they︆ don't think like one and don't see the potential or red flags we see. Actually︇ I feel like in Dubai every second person is a broker. Most are idiots and︈ even if they did care they are not bright enough to cater to your interest.︉

 

[kristoher]

Thanks for all that info. Actually looking to buy in︊ Dubai for golden visa. Would you be able to recommend the broker?

 

[Brutus]

Finding trusted people is the hardest part most of the︊ time

 

[LegitBananas]

Can't you just invest 750K AED into a property and get a⁣ 2-year visa instead of 10-year golden visa with 2M AED requirement? They are both renewable,⁢ so I don't see the major benefit of getting the 10-year visa. Both get you︀ Emirati ID and residence.

https://www.damacproperties.com/en/...at is the AED 750,000,the 10-year Golden Visa.

 

[JackAlabama]

golden visa does not have the visit requirement of every 180 days.

 

[liroyb]

Does the 2M bank deposit investment also must remain during visa validity?︇ or can be withdrawn after 2 years?