For expats and locals seeking a luxurious lifestyle in Ras Al Khaimah, UAE, JW Marriott Residences Al Marjan Island offers an enticing proposition. But beyond the stunning beachfront location and five-star amenities, one question lingers: does buying an apartment grant you a coveted Golden Visa? Let’s delve into details to help you make an informed decision.
Golden Visa: Gateway to Long-Term UAE Residency
The UAE Golden Visa is a long-term residence visa scheme launched in 2019. It grants foreign investors, entrepreneurs, and other qualified individuals the right to live, work, and study in the UAE for ten years. Unlike traditional residence visas tied to employment, Golden Visas offer greater flexibility and freedom. Here are some other benefits apart from extended residency:
Other Benefits of a Golden Visa
- Business Opportunities: Freedom to set up and own businesses.
- Family Sponsorship: You can sponsor your family members, including spouse and children.
- Stability and Security: Assurance of residency even if other circumstances change.
Eligibility Criteria for Golden Visa
To be eligible for a golden visa when purchasing an apartment in JW Marriott Residences Al Marjan Island, you must meet certain criteria.
Investment in Property
- Minimum Investment: You need to invest at least AED 2 million in real estate.
- Ownership: The property must be fully owned by the investor.
- Valuation: Property valuation should be verified by the relevant authorities.
Financial Stability
- Proof of Income: Show stable and sufficient income to support yourself and your family.
- No Outstanding Loans: Clear any significant debts or financial liabilities.
Legal Requirements
- Clean Record: You must have a clean criminal record.
- Health Insurance: Get comprehensive health insurance coverage for yourself and your dependents.
Steps to Apply for a Golden Visa
- Property Purchase: Complete the purchase of your apartment in JW Marriott Residences Al Marjan Island.
- Document Submission: Prepare and submit required documents to the Ras Al Khaimah Economic Zone (RAKEZ) or other relevant authorities.
- Visa Application: Apply for the golden visa through the official UAE visa portal or a registered typing center.
- Processing: It takes authorities a few weeks to process applications, so donโt get impatient.
- Approval and Issuance: Once approved, your golden visa will be issued.
JW Marriott Residences Al Marjan Island: Investment Potential & Golden Visa Benefits
Great news for property investors! Purchasing a qualifying property at JW Marriott Residences Al Marjan Island can make you eligible for a Golden Visa. But before you pack your bags, here’s what you need to know:
- Minimum Investment Threshold: Ras Al Khaimah requires a minimum property investment of AED 2 million (approximately USD 545,000) for the Golden Visa. Ensure the apartment you choose meets or exceeds this value.
- Freehold Ownership: JW Marriott Residences offers freehold ownership, which allows you to own your property completely. This is a significant advantage compared to leasehold properties, which restrict ownership rights.
- Meeting Residency Requirements: Owning a property qualifies you for the Golden Visa application process. However, you may need to meet additional residency criteria set by the authorities, such as spending a specific amount of time in the UAE each year.
Beyond Golden Visa: Additional Benefits of Residency in JW Marriott Residences
While the Golden Visa is a major perk, JW Marriott Residences offers even more:
- Prime Location: Situated on the stunning Al Marjan Island, the residences boast beachfront views and easy access to leisure facilities and entertainment options.
- Luxury Living: Expect top-notch amenities like a private beach, infinity edge pool, spa, fitness center, and concierge services.
- Rental Potential: If you don’t plan to live there full-time, explore rental options to generate income while you’re away.
Important Considerations Before Investing
- Due Diligence is Key: Conduct thorough research on the property, developer reputation, and legalities before investing.
- Seek Expert Advice: Consider consulting with a lawyer specializing in UAE real estate to ensure a smooth transaction.
- Long-Term Investment: View property investment as a long-term strategy. Market fluctuations can occur.
JW Marriott Residences Al Marjan Island: A Gateway to Residency and Luxury Living
Whether you’re an expat seeking residency or a local investor looking for a luxurious escape, JW Marriott Residences Al Marjan Island offers a compelling proposition. With the potential for a Golden Visa and a range of lifestyle benefits, this investment could be your key to unlocking a new chapter in the UAE.
Remember, for the most up-to-date Golden Visa information, it’s always wise to seek professional advice or refer to the official UAE government website.
