Dubai property developers offer free golden visas to attract investors, boost real estate sales

ABU DHABI: Property developers in Dubai are offering golden visas to expatriates. Free golden visas are offered to family members to attract investors. Real estate developers themselves pay for golden visas.

Investors and consumers who purchase property worth two million dirhams (roughly Rs. four crores) or above can get a golden visa. Those who get a golden visa get ten years of permanent residency in the UAE.

Dubai's largest private developer DAMAC Properties offers three Golden Visas to an individual. The company says that 600 units worth Dh1.2 billion have been sold since the launch of the scheme. The company pointed out that this reflects the demand for UAE Golden Visa among property buyers. Amira Sajwani, Managing Director of DAMAC Properties, said that Golden Visa is one of the reasons why investors buy property in Dubai.

Citizenship services provider Get Golden Visa said the UAE Golden Visa program offers long-term residency options of up to 10 years to investors, entrepreneurs and highly skilled professionals. Applicants must invest at least two million dirhams in local property or businesses. Get Golden Visa also pointed out that the program is critical in attracting global talent and investment.

Samana Developers, Blanco Thornton Properties in Dubai and Elton Real Estate Development have also announced that they are offering multiple Golden Visas.