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golden visa in Dubai

The complete detail about the 10 year Golden visa in Dubai

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Dubai, the largest city in the United Arab Emirates, is one of the most attractive places to live and work in the world. Its dynamic economy, stable political climate, and high quality of life have made it a popular destination for expatriates from all over the world. The Dubai Golden Visa is a recent initiative aimed at attracting even more skilled professionals, entrepreneurs, and investors to the city. In this blog, we will explore what the Dubai Golden Visa is, who is eligible for it, how to apply, and what are its benefits.

The ever-growing economy of the UAE is a promising destination for investors to multiply their investments. UAE is the hub of welcoming business and investment opportunities, and seeking the benefits from such opportunities, UAE has introduced a separate VISA category known as the Dubai investment Visa or partner visa. 

Top features of a 10-year Golden Visa

1.Validity 

It is valid for 10 years depending on the applicant’s eligibility criteria and is renewable as long as one is fulfilling the eligibility criteria.

2. Eligibility 

One must invest at least AED2 Million in Dubai real estate to be eligible for the 10-year investor golden visa. One can buy a single unit worth AED2 Million or multiple properties with a total worth of AED2 Million or above.

3. No limit on staying outside UAE. 

This visa comes with no limit on how long to stay outside UAE to keep the visa active. This is excellent for people who want to visit frequently to their respective home countries.

golden visa in Dubai

Requirements to be fulfilled for a 10-year investor golden visa in Dubai

The following are the requirements one needs to meet to get a 10-year investment visa:

1. Mortgaged property 

If a property is mortgaged or on a payment plan, the bank or developer must be paid at least 2 million AED of the property’s worth. In addition to it, a NOC letter along with the amount paid from the mortgage will also be required. 

2. Requirement of marriage certificate 

Husband and wife can participate in one property. A marriage certificate attested from MOFA and legally transferred to Arabic is required. 

3. Investment requirement 

The investment in the property must be at least 2 million AED. Several properties are accepted under the applicant’s name.

How to apply for the Dubai Golden Visa?

To apply for the Dubai Golden Visa, eligible individuals must submit an application to the GDRFA along with the required documents, including a valid passport, proof of investment, business registration documents, educational certificates, and other relevant documents.

The application process is straightforward, and the GDRFA aims to process applications within 30 days. Once the visa is approved, the individual will need to visit the GDRFA to complete the necessary procedures.

Documents required for a 10-year Investor Golden visa 

The following are the documents required for a golden visa:

1. Health insurance from any insurance company in UAE 

2. A passport copy with a passport valid for more than 6 months 

3. A good-quality applicant digital photo that matches the ICP specifications. 

4. The property value stated in the title deed must be at least 2 million. 

5. Applicants from the below-mentioned nations must have their National ID 

  • Iran 
  • Pakistan 
  • Iraq 
  • Libya 
  • Afghanistan 

6. An old Emirates ID if it applies to the applicant.

Sponsorships from 10-year golden visa 

The following people can be sponsored by the 10-year golden visa in Dubai: 

  • Up to 3 housemaids and drivers 
  • The family for the 10 years 
  • The child for up to 30 years of age. (The children must not be married) 
  • Parents for 10 years.

Conclusion 

Dubai is the epicentre of growth and development. Dubai is almost free from crime, and people who violate the law get their Visas revoked and are deported, which makes Dubai a safe destination. The 10-year golden visa will provide ample opportunities for global investors. It is the most common type of residency visa and requires a 2 million AED investment to be eligible for the same.

The Dubai Golden Visa is a game-changer for individuals looking to live and work in Dubai for an extended period. It offers long-term residency, business opportunities, and a range of other benefits that make it an attractive option for investors, entrepreneurs, skilled professionals, and students. If you are eligible for the Golden Visa, it is worth considering this opportunity to be a part of Dubai’s dynamic and innovative community.

Note: A person residing outside the country, cannot apply for an investor golden visa since physical presence is important within the country throughout the completion of the procedure.

For more information, write to us on info@knockdubai.ae

dubai economic plan

Dubai’s $8.7 trillion economic plan is a big boost to the real estate market

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The ruler of Dubai tweeted to approve Dubai’s economic agenda D33 which aims to double the size of the economy over the next ten years and bring it among the top 3 Global cities.

Let us help you understand it in detail. 

Decoding Dubai economic agenda D33

1. D33 is introduced by the Prime Minister of the UAE and the ruler of Dubai. 

2. It is an ambitious project which includes tripling Dubai’s economy over the next ten years. 

3. It aims to make Dubai one of the top 3 Global cities. 

4. The total goals outlined are expected to total AED 32 trillion by 2033.

Key objectives of the ambitious D33 agenda

1. It focuses on increasing the total value of foreign trade in goods and services from AED 14.2 TN in the past ten years to AED 25.6 TN in the next decade. 

2. Increasing private Sector Investment from AED 790 billion in the past to AED 1 trillion by 2033.

3. It plans to generate new economic value from digital transformation 

4. It plans to make Dubai a hub for skilled workers and an international hub for global multinational companies 

5. It helps to increase government expenditure from AED 512 billion in the past to AED 700 billion in the next decade.

Real estate:  A major beneficiary of D33

Check out how the real estate market of Dubai will grow and seek benefits from the D33 agenda. 

1. New Foreign Investments 

With D33 by Sheikh Mohammed the real estate sector will get a major share of new foreign investment and the sector will continue to show an upward Trend. 

2. Key rankings 

D33 agenda focuses on making to buy one of the five leading Logistic hubs in the world and one of the top global financial centres which will attract new opportunities here.  

3. World-class quality of life 

D33 agenda aims to enhance its position as an attractive hub with world-class quality of life and give the highest level of security and safety to its citizens and residents which will increase the price of residential properties here.

4. Recent rankings 

Dubai has recently been ranked as one of the world’s top 10 best cities for expats to live and work as per the Expat Essentials index which proves the already established liking of the world to live and invest in Dubai. 

5. Boost in Private sector investment 

The plan also aims to bring private Sector Investment up from 790 billion Dirhams in the last decade to 1 trillion Dirhams in the next decade which will help Dubai to grow and its real estate market to flourish.

Conclusion  

With the promising D33 agenda by the Prime Minister of UAE, Dubai is going to be flooded with new opportunities for development and progress. It is going to see massive foreign investments and with this, the real estate market will see new heights. 

The real estate market is expected to rise and the investment here will yield the highest return. Also, with much new private and public investment, the quality of life will rise which will attract more investment in residential properties here.