How the UAE Golden Visa Programme Supports the Property Market

The UAE's Golden Visa programme plays a smart and strategic role in stimulating the property market. This visa offers a ten-year residency right to those who purchase a property with a value of at least AED 2 million.

And this even applies to off-plan properties that are still under construction.

More Than a Residency Permit

A Golden Visa not only gives buyers the right to long-term residence but also opens the door to other benefits, such as opening a bank account and applying for tax residency in the UAE.

The latter is particularly attractive for people from countries with high tax rates, as the UAE has no income tax.

Why Are There So Many Lights Out?

Anyone driving through Dubai in the evening will notice that many apartments remain dark. This is because many of these properties are bought by people who barely use them. The apartments are not necessarily intended for living in, but primarily to take advantage of the Golden Visa benefits.

This also explains why off-plan apartments, meaning properties that are yet to be built, are more popular than completed projects.

A Smart Incentive for Sustained Demand

This is because the Golden Visa is tied to the ownership of the property. If you sell the apartment and do not have other real estate valued at a minimum of AED 2 million,

then your visa expires and you must have a job or another type of visa to be allowed to remain in the country. Consequently, many people retain their property, even if they hardly use it.

For many, this investment is more cost-effective than paying taxes in their home country. And for the UAE, it is a smart way to maintain demand and stability in the property market.