Dubai real estate developer offers ‘free UAE Golden Visa’ for eligible customers
Dubai-based Samana Developers is shouldering the cost of obtaining a UAE Golden Visa for its eligible customers.
The company, which has seen an increase in the number of foreign investors inquiring about the UAE property market in recent months, said it set up a “one-stop service” to assist investors in obtaining the 10-year visa.
The service, of course, is for those who meet the UAE’s eligibility rules for the visa – buying AED 2 million worth of properties in the country.
“Golden Visa is a golden opportunity and an extra incentive for real estate buyers, along with tax benefits in Dubai. It motivates buyers to own more and stay longer in UAE and is a great tool to retain people post-Expo 2020 Dubai,” Imran Farooq, chief executive officer of Samana Developers, said.
According to the developer, they have observed investors “merging two properties to reach the AED 2 million threshold to get the Golden Visa,” with demand for two-bedroom units rising. Many investors would also take two one-bedroom units to be able to obtain the visa.
Farooq said the top buyers of properties for Golden Visa are “mainly Europeans, Africans, and nationals of the Commonwealth Independent States (Russia, Ukraine, etc).”
This scheme is not new to developers in the UAE, as other real estate companies take advantage of the relaxed Golden Visa rules.
Sharjah-based Arada earlier told Arabian Business that buyer demand for homes above AED 2 million have increased after the government announced the new visa regulations – pushing it to set up a dedicated after-sales team to assist investors in obtaining long-term residency.
Just recently, UAE significantly dropped the required amount of property investment to obtain the Golden Visa. Taking effect in September this year, the new rules also don’t include any specifications on the property transactions – whether the units or ready of off-plan or paid through mortgage or in cash.