UAE Golden Visa can now be obtained directly from the developer
Published by: Admin
In June 2022, the Dubai real estate sector registered a whopping AED 22.7B (USD 6.18B) in sales.
Foreigners investing in property in the UAE can get the coveted Golden Visa directly through real estate developers. According to industry experts, obtaining a long-term residency is simple and straightforward. When Danube Properties launched its Dh350 million pyramid-shaped Gemz in Al Furjan, the company had offered to process the Golden Visa for investors.
According to Imran Farooq, CEO of Samana Developers, the whole process takes less than two weeks, and all processing fees are paid for by the developer.
"Once clients select a project and a unit, they must transfer money through Escrow. Then, we can register their title deed and apply for the Golden Visa. The applicant must submit documentation, including proof of investment and passport details, to complete the process.
"If they need the Golden Visa for their family, they need to furnish other documents like marriage certificates and birth certificates for their children. If the documentation is in order, the procedure takes very little time. Also, as the developer, we pay all the processing fees."
According to Imran, the offer has many international takers as well. "For a lot of our overseas clients, they can choose the property and unit from their comforts of our home," he said.
"It is not necessary to come to get the title deed. They only have to visit the UAE to undergo a mandatory medical examination. This is a very convenient option for many. When these people relocate to the UAE, having a Golden Visa helps speed up the process of getting a bank account and other necessities."
Ahmed Bin Mohammed Al Qassimi, CEO of SAAS Properties, said the Golden Visa initiative is "wonderful news" from a market perspective.
"This is the case in particular for developers such as SAAS, who are building and selling homes in mostly freehold districts. The long-term residency options allow quality and ownership for the long haul."
Source: www.Khaleejtime.com