Since the end of February, there has been a surge of interest from potential applicants for the highly promoted UAE Golden Visa, in addition to interest from those looking to acquire real estate and explore immigration opportunities as a result of regional unrest causing individuals with financial means to look for safe long-term residency options. Visa service centres have seen a clear behavioural change amongst potential applicants, as many are expediting their applications instead of delaying their plans. This data suggests that the level of confidence in the stability of the UAE has actually increased, despite the occurrence of current conflicts.
The trend is very specific; real estate-related applications remain the primary source of interest. The minimum capital investment required (2M AED, which was introduced in 2022 to deter speculative applicants) continues to pose a significant barrier for many prospective applicants; however, the current exchange rate for AED means that 2M AED is approximately equal to $544,588 US, which gives an idea of the level of commitment required to take advantage of the programme.
Why are people interested in this area now? According to reports from consultants and news organisations, there has been a significant increase in interest among Indian and Russian nationals, as well as other individuals from countries affected by conflict such as Lebanon and Israel, in applying for residency permits through investment, specifically the Golden Visa programme. The business-friendly nature of education and healthcare services available under these visa types allows the visa-holders to feel secure in applying for permanent residency; as such, in light of increased tensions within the homeland the visa holder is from, the visa holder may perceive it as advantageous to gain permanent residency using a residence permit.
There are many macroeconomic factors to explain the increasing appetite for this type of residence permit. Recent geopolitical instability in the Middle East has affected the price volatility of crude oil and other commodities, resulting in many investors re-evaluating their traditional safe-haven investments; typically traditional safe havens have included jurisdictions offering appropriate levels of quality services and legal certainty. The UAE has actively marketed its amenities and services for many years and are now being recognised as legitimate options for high net worth individuals (HNWIs) to consider utilising when obtaining a residence permit through investment.
Some evidence of changes on the ground can be found in visible ways. For example, immigration service centers report that there has been an increase in applicants requesting expedited processing, more requests for cross-border verification from mortgage and title companies, and multiple brokers interested in selling family-sized villas and ready-to-move-in apartments. If this trend continues, it will create a new dimension to the already strong UAE property market, which will be shaped by changing geopolitical and residency policies along with demand.
Experts recommend that anyone who is thinking about applying should determine eligibility requirements (investment, specialised talent, or entrepreneurship), include all applicable taxes and fees when calculating the total cost, and monitor flight and travel advisories. This is particularly important when there are shocks or unexpected events occurring in the region, as both the speed of the process and the required documentation are just as important as capital, especially in ensuring that applicants can respond quickly to changing circumstances and secure their investments effectively.
