The Golden Residence Visa offered by the United Arab Emirates is attracting wealthy Indians, especially as real estate prices rise in the European Union.
The Indian newspaper Live Mint described the gold residence as a safe investment haven for wealthy Indians and that it was a game changer for them as it provided an opportunity to invest in safe assets in light of the continued fall in the value of the Indian rupee.
The newspaper stated that the attractiveness of the visa for wealthy Indians is gradually increasing, in light of the booming real estate market in the Emirates, especially in Dubai.
And she said that wealthy Indians can get a golden residence visa, giving the right to reside for 10 years, when investing in the purchase of real estate in the amount of 2 million dirhams.
The report added that changes to the golden visa in some countries of the European Union have increased the interest of high-income Indians in the UAE’s golden visa, which provides accommodation with attractive tax benefits.
Following the spread of COVID-19 and travel restrictions, ease of movement has become a determining factor in determining status of residence. This has led to an increase in demand for golden visas or residence permits by investing in real estate in EU countries, especially among wealthy people who are looking for an easy way to travel.
However, this led to an increase in real estate prices in the EU countries, which prompted them to raise the investment threshold or stop the path to a golden visa.
Source: “Live Mint”
