Complex Made Simple

DLD grants five-year Golden Visas to 20 investors with assets exceeding AED200 million ($54.5m)

Dubai Land department awards golden visas to investors and their families, without needing a sponsor

Golden visas granted to 20 investors belonging to 12 nationalities, whose value of direct real estate investments exceeded AED 200 million Five-year golden visas were given to real estate investors whose individual investments in the local real estate market exceed AED 5 million ($1.36m) The investors were granted golden visas through Cube Centre, which reduces the effort and time of real estate investors by providing with all the needed amenities

Dubai Land Department (DLD), in coordination and cooperation with the General Directorate of Residency and Foreigners Affairs (GDRFA), granted golden visas to 20 investors belonging to 12 nationalities, whose value of direct real estate investments exceeded AED 200 million ($54.5m).  

During the ceremony, the five-year golden visas were given to real estate investors whose individual investments in the local real estate market exceed AED 5 million ($1.36m) and are registered at DLD. This privilege also benefits their family members — wives and children. The conditions for obtaining the golden visa without a sponsor includes investing in one or more existing properties that satisfy the total value condition, regardless of whether the property is owned by an individual or a group of investors. The list of countries the investors belong to includes Tunisia, the USA, Commonwealth of Dominica, India, Iraq, China, Libya, Jordan, Iran, Pakistan, Kazakhstan, and Saint Kitts and Nevis.

Read more: Dubai house price declines 15.3% annually in June 2019: Property Monitor House Price Index 

The investors were granted golden visas through Cube Centre, which reduces the effort and time of real estate investors by providing with all the needed amenities. All government and private entities are present at Cube Centre, including GDRFA, Dubai Department of Economic Development (DED), Emirates Identity Authority, police station, a medical centre for medical examinations, a printing office, and insurance companies.

Cube Centre is one of DLD’s most important initiatives, which is fully aligned with its futuristic strategy and its vision of making Dubai an innovative and sustainable global real estate environment as well as the happiest city in the world via its smart services that the investors can easily access.

Read more: Freehold Property vs. Leasehold Property: What makes sense for you?

Dubai Land Department (DLD) was founded in January 1960 and seeks regional and worldwide innovation in real estate with the aid of its active sectors that include real estate registration services, real estate investment promotions, and corporate support, and with the aid of its active organisations that include the Real Estate Regulatory Agency, the Dubai Real Estate Institute, and the Rental Dispute Centre.

Dubai Land Department has activated a new toll-free call centre number [8004488].