look news india
UAE introduced the Golden Visa in the year 2019. The main objective of launching this visa was to attract foreign investors. Through the Golden Visa, Indian investors can not only invest in properties in major cities of the UAE, including Dubai, but also enjoy the full benefits of long-term residency in the UAE. UAE offers this Golden Visa mainly to investors, entrepreneurs, researchers and influential students. With this visa you can stay in UAE for 5 or 10 years, which can be renewed later.
What are the qualifications for the Golden Visa?
If you invest in an investment fund you can be granted a Golden Visa for 10 years without a sponsor. The condition will be to provide a letter from a UAE approved investment fund stating that you have a deposit of 2 million dirhams or to present a valid commercial license or industrial license and a memorandum of association. In which it is said that your capital exceeds 2 million dirhams.
Eliminating minimum down payment requirements
Starting in 2024, the UAE government made a major and significant change to the Golden Visa program. The government removed the minimum down payment requirement of AED 1 million for real estate investments. This move by the government has made it easier for Indians to invest in the UAE, especially for investors who want to invest in off-plan real estate.
The new rules on Golden Visa through real estate investment in the UAE include the removal of the AED1 million ($272,294) minimum downpayment requirement. To qualify for the 10-year renewable housing scheme, which was launched earlier in 2019, investors needed to acquire a property worth AED2 million or more. However, for properties purchased on mortgage or installment plans, the bank or developer was required to make a minimum downpayment of AED1 million or 50 percent of the property value to be eligible for the Golden Visa.
There is no income tax payable in the UAE
Let us tell you that due to Dubai’s world-class infrastructure and immense earning opportunities, there is a tremendous increase in property prices as well as rents here. So this is a golden opportunity for Indian investors. Let us tell you that there is no tax on income in UAE. This is the reason why the number of foreign businessmen, entrepreneurs and investors is increasing rapidly throughout the UAE including Dubai.