Can You Get a Golden Visa With a Mortgaged Property in Dubai?

The single most-asked question we get from NRI buyers is some version of: "My down payment is only 25%, and the bank holds the rest — does that count for the Golden Visa?" The answer is yes, and it has been since the 2022 framework reset. But the answer comes with a few details worth understanding before you sign anything.

The rule, plainly stated

A property valued at AED 2 million or more, held in your name, qualifies for the 10-year Golden Visa — whether you paid for it in cash or financed it through a UAE bank. The qualifying asset is the property itself at its current market value, not your equity in it. A AED 2.5M apartment with AED 1.8M outstanding on the mortgage is, for visa purposes, a AED 2.5M asset.

This was not always the case. Before 2022, the property route required fully-paid status or a substantial cash component. The reset was deliberate — the UAE government expanded eligibility specifically to attract financed buyers, including the large NRI cohort that prefers a leveraged entry.

What the bank needs to provide

Your application file will include a letter from the lending bank confirming three things: that a loan exists in your name, the current outstanding balance, and that the property serves as collateral. Most major UAE banks generate this as a standard item on request. The format is short — typically one page on bank letterhead, signed by an authorised officer.

Banks that handle Golden Visa applicants in volume — Emirates NBD, ADCB, FAB, Mashreq, Dubai Islamic Bank, and a handful of others — will have the template ready and turn it around in 2-3 business days. Smaller lenders sometimes need a written request through your relationship manager. We always confirm the lender is on the comfortable list before recommending a mortgage offer to a Golden Visa-bound client.

Down payment minimums under the mortgage

The Golden Visa rules do not impose a minimum down payment — the UAE Central Bank's mortgage rules do. As a non-resident NRI, expect 25% minimum down payment (75% LTV) for properties up to AED 5M, rising to 35-40% for higher values. UAE residents get 20% minimum (80% LTV). Both stack cleanly with the visa pathway: a 25% down payment on a AED 2M property is AED 500K, which is comfortably within a single LRS year.

Off-plan, mortgaged, AED 2M+ — does that work?

Yes, with one extra step. Off-plan units register with Oqood (Dubai's off-plan registry) at the SPA stage rather than getting a full title deed at handover. The Golden Visa application accepts the Oqood certificate as proof of ownership. Most major UAE banks finance off-plan purchases from approved developers; the mortgage disburses in tranches as the developer hits construction milestones. Your visa file uses the bank's letter and the Oqood — handover and final title come later.

What if the property value drops below AED 2M after I buy?

The valuation is taken at application. Once the visa is issued, subsequent market movements do not unwind it. At renewal (every 10 years), a fresh valuation is required and the property must still meet AED 2M. In a soft market, holders sometimes top up with a second smaller unit to comfortably clear the threshold. In Dubai's actual market — values have appreciated significantly since 2020 — this risk has not bitten anyone we know personally.

Selling the property

If you sell the qualifying property and do not replace it, the visa is cancelled at renewal. Selling and replacing with a new AED 2M+ unit is fine — file the new property with the GDRFA. Holding the visa while you transition between properties for a few months is fine. Letting the qualifying asset lapse for years and trying to renew on memory is not.

Closing

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