You heard right. Being one of the best options, it is quiet but has tremendous scope for development. It also offers easy and inexpensive means to obtain residency through investing in real estate , which one would like to possess. And there is also the very well-known Golden Visa program, which provides even more long-term security to investors.
Let’s break it down a little so you can clearly see how property and a Golden Visa can help you to gain your residency.
Why Choose Ras Al Khaimah?
Ras Al Khaimah or RAK has something different from Dubai and Abu Dhabi as it tends to have a quieter, nature-oriented culture and is less expensive. Although RAK has a peaceful and family-oriented atmosphere, it remains accessible to the rest of the UAE since it is only an hour from Dubai.
What I had in mind were residency options in the UAE, and to date, Ras Al Khaimah is the most appealing as a blend of modern infrastructure and natural beauty. To retire here, move your family here, or even set up a business, RAK offers an excellent mix of opportunity and lifestyle.
Ras Al Khaimah Residency by Property Investment
Ras Al Khaimah’s property-linked residency program enables you to invest in real estate and get long-term residency. The process is even cheaper than many other schemes for a global residency in foreign lands.
1. Minimum Investment
You need at least $204,000 or AED 750,000 cash to buy a property in Ras al Khaimah. If you are not able to pay a lump sum amount, don’t worry you can avail mortgage from any UAE leading banks. This investment can be in either residential or a business property in a freehold area. What I love about this is that the amount of money that is required for the investment is not that too high, so anyone can afford to have a lot invested.
2. Visa duration and renewal
After investing, you get a 2-year residency visa, which you can renew as long as you retain the property. More money invested enables the visa to be long, like a 5 or 10-year visa, depending on the valuation of the real estate property. The process of renewing is easy, so if you play by the rules, you can renew your visa over and over again.
3. Inclusion of Family
Not only are you getting residency for yourself, but this program will also enable you to add your family members as well-spouse and children. This is great for those families who would want to relocate together or perhaps for giving them another residency option in a safe and strong economy.
4. Tax Benefit
Probably, the best thing when staying here in Ras Al Khaimah is not paying a thing in the form of personal income tax, capital gains tax, or inheritance tax. The UAE is long known to be considered a tax haven by residents, which is just fantastic if you want your wealth to grow without worrying about high taxes.
Golden Visa Facility
For individuals seeking additional stability and assurance in the long run, the Golden Visa program is the most appropriate answer. This program, which was launched by the UAE government, aims to grant residents to many categories of investors, entrepreneurs, and professionals for a duration of time. It is designed to bring in human capital and financial resources within the nation.
1. Eligibility for the Golden Visa
You can easily get a golden visa by investing in the real estate sector. Typically offered to real estate investors, the minimum amount to be invested is AED 2 million (around 544,508 dollars). This visa is part of a wider campaign that encourages foreign investments – that of offering long-term residency to wealthy individuals.
Other categories eligible for the Golden X include:
Entrepreneurs who manage successfully operating businesses.
Talent includes scientists, physicians and other creative people.
Excellent students who perform best in their respective courses.
2. Benefits of the Golden Visa
Golden Visa has several benefits and facilities which make it different from other ordinary residency visas:
There is a possibility of staying with this residency status for a long period of between 5 or ten years depending on the investment or the category. This is a big improvement from the ordinary two years which requires a lot of extensions to be done.
The visa is valid for a certain time but cannot prevent you from staying in UAE forever as long as there are conditions for the renewal of that visa and you are able to follow them.
You can also include your family members such as a wife and children in the same residency program of long term Visa.
The holders of the Golden Visa can also have more than one citizenship, thus meaning that they can keep their nationality.
Another advantage is that the UAE passport is rated among the leading passports worldwide allowing access to over 170 countries without a visa including the UK, Schengen Countries, etc. Just picture how easy it will be moving from one continent to another, No stress at all.
3. Golden Visa for Property Investors
Under the property investment option, you need to make a minimum investment of AED 2 million. This is higher than the AED 750,000 that is necessary to obtain the ordinary residential permit but it comes with long-term advantages. This visa allows for a sustainable period of stay without the need for constant renewals, making it fit for investors who are focused on long-term commitment.
Steps to Obtain Golden Visa or Residence by Investment in Properties
The process is easier than you may believe. I will guide you on how to get your residency by investing in property.
Find a Property: First, open Google and type properties in Ras Al Khaimah. Click on Top Luxury Property.com website. I personally tried their website. They have an extensive list of available properties in Ras al Khaimah. Or you can reach out to them to get more market insight. There are plenty of freehold options for foreign investors.
Complete the Purchase: Ensure that your property purchase meets the minimum required investment. If you’re applying for the Golden Visa, your investment must be at least AED 2 million. Be sure to consult with Top Luxury Property to get the process smoothly.
Apply for Residency or Golden Visa: Once you have bought the property, you can apply for residency visa or a Golden Visa by sending in documents proving you own the property, undergoing the required processes.
Receive Your Visa: After application, your process will be complete with a residency visa. For property investors, the process usually takes not more than three days.
What else would you consider?
The property investment program has many benefits, but it’s important to know some other factors:
Extra Costs: Along with buying the property, there would be some extra cost to remember like property transfer fees and regular maintenance costs.
Residency vs. Citizenship: One must note that even though residency can be acquired through property investment, UAE citizenship cannot be obtained under the same investment. Usually, it is reserved for those with significant contributions to the economy or possessing some specific skill.
Final Opinion
Getting residency in Ras Al Khaimah by property investment is a doorway to entering a well-established region. Be it in search of an ideal place to live or an investment opportunity with guaranteed returns, RAK has varied options. And for those of you looking for absolute long term security and liberty, there exist the Golden Visas which come with huge advantages.
If you’re ready to take the leap, I recommend starting your property search and working with local professionals who can guide you. The rewards are well worth the investment!
