UAE Golden Visa through an off-plan property with a 24% down payment

Golden Visa – Eligibility through investments in real estate properties

This article is based on implementation information provided by a local partner regarding an available structure for qualifying off-plan projects. The structure must be confirmed for the specific project and applicant before payment, and the final decision remains with the competent UAE authorities.

The UAE Golden Visa is a long-term residency programme that allows foreign investors to obtain residency through real estate investment. It offers a pathway to a visa valid for five or ten years, depending on the investment structure, without the need for a local sponsor.

Property-based Golden Visa eligibility

To qualify through property investment, the investor must invest in UAE real estate with a minimum value of AED 2 million.

The property must be:

• Purchased through registered brokers and transactions.
• Located in designated areas of the relevant emirate.
• Registered with the Land Department or competent land-registration authority.

Proposed strategy: 24% down payment and an off-plan property

Why off-plan property?

According to the information provided, qualifying off-plan properties can offer an efficient route to the Golden Visa while optimising the investment.

Key advantages:

• Lower initial capital requirement by paying a 24% down payment during the construction phase.
• Faster visa processing; for qualifying projects, the process may begin after signing and registering the agreement.
• Competitive pricing compared with completed properties.
• Flexible instalment plans during construction.

Obtaining Oqood through an off-plan purchase

Oqood (Arabic: عقود) refers to the official registration of the off-plan property agreement or property interest with the Dubai Land Department or the relevant emirate authority.

Process:

• Sign the off-plan purchase agreement with the developer.
• Register the off-plan purchase agreement with the Land Department.
• Receive the Preliminary Oqood after registration.
• Use the Preliminary Oqood to apply for the Golden Visa where it is accepted for the specific project and application.
• Upon completion and handover, receive the final title or registration document.

Timeline advantage

• The visa application may be initiated after the 24% payment and agreement registration; reaching this stage is typically stated to take 30–60 days.
• There may be no need to wait for construction completion before starting the process.
• Residency may be obtained while the investment property remains under development.

Step-by-step process for an off-plan Golden Visa application

Phase 1: Property selection and purchase agreement

• Select an off-plan property in an approved development.
• Sign the purchase agreement with the developer.
• Pay the first instalment, typically around 5%.
• Ensure that the property value meets the minimum investment requirement.

Phase 2: Registration and Preliminary Oqood

• Register the purchase agreement with the Land Department.
• Receive the Preliminary Oqood or registered agreement.
• Pay subsequent instalments according to the agreed schedule.
• Continue payments until the 24% target is reached.

Phase 3: Golden Visa application

Required documents may include:

• Valid passport.
• Preliminary Oqood or purchase agreement.
• Proof of the 24% payment.
• Bank statements showing the source of funds.
• No Objection Certificate from the developer, if required.
• Medical fitness certificate.
• Background clearance, if requested by the authority.

Phase 4: Approval and residency

• Submit the application to the relevant authority, such as GDRFA or ICP.
• Receive approval in principle.
• Complete the residence and Emirates ID issuance procedures.
• Receive ten-year residency where the application is approved under the relevant route.

Benefits of a property-based Golden Visa

• Long-term residence for five or ten years, renewable while the conditions continue to be met.
• Sponsorship of a spouse and children under the applicable rules.
• Opportunities to establish businesses and commercial entities.
• Access to healthcare in accordance with applicable rules and insurance coverage.
• The ability to enrol children in UAE schools.
• Continued property ownership and potential rental income.
• Improved mobility through UAE residency.
• No dependency on a specific employer.
• The possibility of renewal or transition to other residence categories, subject to eligibility.

Conclusion

Under this implementation structure, the proposed route is:

Pay a 24% down payment on a qualifying off-plan property → receive Preliminary Oqood registration → apply for the Golden Visa → obtain ten-year residency if approved by the competent authority while the property remains under development.

The strategy is designed to reduce the initial capital requirement and use an off-plan payment schedule. The project's eligibility, required paid amount and acceptance of Preliminary Oqood must be confirmed for the individual application before any financial commitment.

Please contact RAVASA if you require further clarification.