Dubai is a city that is famous as a tourist hub. However, it is strongly growing in the field of real estate as well. The global investors are highly mesmerized by the world-class infrastructure of the city, tax-free environment, and the growth of the real estate market. Investing in a property not only comes with basic perks such as the ability to earn you a high rental value or great Return on Investment, but it also comes with another incentive, i.e., the UAE 10-Year Golden Visa. Specifically, if you are investing in an off-plan property, it grants long-term residency for eligible buyers. One such property is Danube Properties Dubai.
This property makes you eligible to attain a 10-year Golden visa in the UAE. If you are also planning to invest in mortgaged off-plan properties, here’s what you should know about them.
Who is eligible to attain a UAE golden visa as an investor?
If you are planning to attain a golden visa in the UAE being an investor, then you must check your golden visa eligibility beforehand. Well, the golden visa has been designed to promote long-term commitment to the country on the part of investors. Though complete property holders may find it easy to get the golden visa, off-plan property investors are eligible for the golden visa under the following conditions:
- The value of the property has to be AED 2 Million or above.
- Mortgaged property can also be used for the same purpose. However, you need to present the proof of the payment along with necessary financial details.
In short, even if you buy a property with a mortgage, it can help you secure long-term residency as an investor. You can check with Danube Properties Dubai to understand everything in detail.
Key Requirements for Off-Plan and Mortgaged Properties
While applying for the golden visa using an off-plan mortgaged property or a property that is under construction, some specific rules are applicable:
- As specified above, the property should be at least AED 2 Million or more.
- The developer of the property you have invested in should be approved by DLD (Dubai Land Department).
- Investors should be ready with the mortgaged statement or a payment certificate showcasing that the portion has already been paid.
- If an individual or entity is financing the property, an NOC is required from their side for the visa application. You can connect with a representative at Danube Properties Dubai to get insider details on the same.
If some meets these requirements, he can go ahead with the visa application process.
Advantages of Visa application through an off-plan mortgaged property
Investing in an off-plan property in UAE comes with several advantages and becoming eligible for a golden visa UAE is one of them. Therefore, if you are a Golden Visa seeker, then here are the things you can take advantage of.
- Lower upfront payments
- Payment plans with multiple installments and longer durations.
- Potential appreciation of the property value.
- The property also makes you eligible for DLD fee waivers and discounts.
Documents required for golden visa application
Whether you are investing with Danube Properties Dubai or any other developer, here are the essential documents you should have for the UAE golden visa application:
- Copy of your passport.
- Recent photographs.
- Emirates ID (if you are a UAE resident).
- Sales and Purchase agreement (SPA).
- Oqood registration documents.
- Mortgage statement which has details of paid and pending amounts.
- NOC (No Objection Certificate) from the bank or developer.
- Payment receipts for the paid installments.
Conclusion:
Before you purchase a unit at a residential property in Dubai or any part of UAE, you need to make sure that the property falls is the list of Visa-eligible projects. So, check that beforehand. The good news is that, even if you hold multiple properties, if their combined value is AED 2 million or above, you are still eligible for golden visa.