According to some market sources, the issuance of a 10-year Golden Visa for investors owning properties of 2 million AED and more is expected to start this October.

Currently, the government of UAE is granting 3- and 5-year residency visas, which enable the businessmen multiple entries during this period.

The Dubai Golden Visa will be granted to property investors, who purchase at least 2 million AED properties or properties with mortgages from specified local banks.

Also, investors can buy one or multiple ready or off-plan properties from the approved developers that are worth in total at least 2 million AED.

There are some developers that have postponed their new launches until the official confirmation of the authorities on the matter of issuing Golden Visas on real-estate investors.

However, with the high demand for Golden Visa, it is clear that in the next couple of weeks the real estate market of Dubai will witness a huge rise as many buyers are waiting for this opportunity.

Nevertheless, as reported by the Dubai Land Departments, during this summer the transaction of Dubai property sales has already recorded the highest in the past decade, demonstrating serious interests of investors in this market.

The main advantages of this new Golden Visa are first, the amount of investment in the property is considerably lower than before (2 million AED compared to 5 to 10 million AED), secondly, investors can sponsor as many domestics as they wish.

Additionally, the physical presence of the purchasers in the UAE is not obligatory anymore.

For more information about the different ways of getting 10-year Golden Visas and getting professional consultants please visit our website https://mics.global/united-arab-emirates/.