UAE Golden Visa lures European property investors

There is a strong and growing demand for the UAE’s Golden Visa among European property investors buying assets in Dubai.

Real estate industry executives privy to the matter said that some are buying property in Dubai only to obtain the 10-year residency.

They said that investors from Switzerland, Germany, France, the UK and other European countries are increasingly looking to benefit from the tax-free income, safety, and security offered by the Emirates, as well as high returns from investments in property markets.

Jess Stephenson, head of sales progression at Allsopp & Allsopp Group said, “Yes. There is a strong interest from European buyers in the market for Golden Visas as they can sponsor family members and domestic workers without needing an employment visa. They can also spend longer in the UAE than when on a tourist visa. As Golden Visa holders, they can open bank accounts and operate as residents here."

The 10-year residence visa has been a game changer in attracting the best talent from around the world. In addition, property investors, professionals, entrepreneurs, scientists and outstanding students are also eligible for the Golden Visa.

According to the General Directorate of Residency and Foreigners Affairs (GDRFA) – Dubai, Dubai has seen a 52 per cent increase in the number of Golden Visas issued in the first half of 2023, as compared to the same period in the previous year.

Since the launch of the Golden Visa for property investors, demand for luxury and ultra-luxury properties has jumped substantially in Dubai as thousands of millionaires relocated to the emirate. They enjoy the safety and security for their families, world-class education and a modern lifestyle.

Farooq Syed, CEO of Springfield Properties, said that the emirate’s real estate market is increasingly capturing the interest of European investors, who are driven by the allure of high rental returns and capital appreciation.

“Factors such as the economy's stability, robust real estate growth, advanced infrastructure, and strong safety measures contribute to this attraction. With the European economy facing challenges due to the Ukrainian crisis, many investors are turning to Dubai as the safe option for more profitable investment prospects. Investors from countries like Germany, Switzerland, France, and the UK are prominent players in Dubai's property market,” added Syed.

Compared to other European cities like London, Berlin, and Monaco, Syed added, Dubai offers better value for property investment.



According to Betterhomes, investors from the UK, Russia, Italy, France and Turkey were ranked in the top 10 in 2023 in terms of top property buyers.