Continuing with efforts to strengthen the United Arab Emirates economy, the General Directorate of Residency and Foreigners Affairs (GDRFA) in cooperation with Dubai Land Department (DLD), has granted five-year ‘golden visas’ to 20 investors from around the globe with direct real estate investments worth more than AED 200 million (USD 54.4 million) in the country.
These investors belong to 12 countries – Tunisia, the US, Commonwealth of Dominica, India, Iraq, China, Libya, Jordan, Iran, Pakistan, Kazakhstan, and Saint Kitts and Nevis.
“The UAE Cabinet’s decision to grant golden visas comes in line with the objectives of UAE Vision 2021 to achieve an economy based on flexibility, diversity, and innovation. GDRFA provided a number of investors with a five-year golden visa in cooperation and coordination with DLD,” said Major General Mohammed Al Marri, director general of GDRFA, Dubai.
“We would like to thank GDRFA for cooperating with us in this project that will greatly benefit Dubai and the UAE, consolidating the emirate’s position at the forefront of destinations capable of attracting capital and foreign direct investment,” said Sultan Butti bin Mejren, director general of DLD.
Conditions for obtaining UAE’s golden visa without a sponsor include 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.