Ways have been cleared for off-plan property buyers in Dubai, those who're investing a value of “Dh2 million assetâ€. The visas are expected to start being issued in October 2022 according to the sources! This update struck the market as developers are seen to launch more off-plan projects, priced at Dh2 million.
Plus, with the help of select developers’ and real estate agents’ recommendations, investors will get the help they need to gain a 10-year residency. Now, developers can recommend to the immigration department, that buyers have met the guidelines, and they are eligible for issuance of 10-year residency status.
Many renowned developers are forming an alliance to liaise with the authorities as well as advise investors throughout the Golden visa process. In earlier weeks, UAE gave the confirmation on the new rules applicable for longer-term visas, mostly 5 to 10 years, to be effective from October. Developers and agents in Dubai have been long awaiting a go-ahead, expected such a move can benefit the off-plan buyers in Dubai.
One of the most anticipated ways of getting a Golden ticket to a long-term visa is through property owners with Dh2 million in assets! The Dh2 million investment seems to be a big replacement for the Dh10 million requirement that was set earlier! This grand move by the UAE has triggered many investors, and buyers to think about making good use of their finances. Plus, it has also escalated the demand for property buying among end-user buyers and investors!
Because of the exciting investor visa schemes, the real estate market in Dubai has always been in the demand! However, it is expected to escalate more, and more people look forward to calling Dubai, the dream touristy city, their home. Especially the off-plan sales are about to see shooting results, with the ease in the applicability of the Golden Visa program!
Both the developers and agents are required to give guidance for the process of buying off-plan and clearing the eligibility for the Golden Visa. Not to forget, the Dh2 million mark gets cleared very well!
However, the investment can be a single property or a combination of property assets that totals Dh2 million and over! Once the developer provides the necessary documentation to the land department, then Oqood certificates get issued. If the value is highlighted to be Dh2 million and over, getting a Golden Visa becomes a very quick process.
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