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UAE Golden Visa through Dh2m bank deposit options

K

kekmaw

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Sep 30, 2016
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#1
With interest rates high and real estate prices high in the UAE, it makes more and more sense to get the golden visa by depositing 2M AED into a 2 year fixed-term savings account or similar to qualify for the Golden Visa.

Gulf News recently published an article about that: UAE Golden Visa: Dh2m bank deposit scheme turns popular with freelance professionals, retirees

Does anyone know any bank that does this for you in order to qualify for the visa and still gives you competitive interest rates in the meantime?
 
#2
kekmaw said:
With interest rates high and real estate prices high in the UAE, it makes more and more sense to get the golden visa by depositing 2M AED into a 2 year fixed-term savings account or similar to qualify for the Golden Visa.

Gulf News recently published an article about that: UAE Golden Visa: Dh2m bank deposit scheme turns popular with freelance professionals, retirees

Does anyone know any bank that does this for you in order to qualify for the visa and still gives you competitive interest rates in the meantime?
Click to expand...
Interest rates given by local banks are still on the very low end. If you can deposit 2m for a Residency, you likely have an existing private banking relationship. Discuss it with them. Lombard Odier or Julius Baer might be able to help. Citi Gold is very actively hunting for new deposits in the local market - and provides UAE as well as Singapore booking center.
 
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#3
kekmaw said:
With interest rates high and real estate prices high in the UAE, it makes more and more sense to get the golden visa by depositing 2M AED into a 2 year fixed-term savings account or similar to qualify for the Golden Visa.

Gulf News recently published an article about that: UAE Golden Visa: Dh2m bank deposit scheme turns popular with freelance professionals, retirees

Does anyone know any bank that does this for you in order to qualify for the visa and still gives you competitive interest rates in the meantime?
Click to expand...

@kekmaw did you manage to go down that route with a 2M AED 2 year fixed term deposit to obtain UAE Golden Visa?

I am trying to find reputable banks but haven't found my success yet. I did contact Citi Gold and Lombard as @BeyondBorders recommended and waiting for feedback.

@BeyondBorders half of a year after your post, do you have any other good leads?
 
#4
girokredit said:
@kekmaw did you manage to go down that route with a 2M AED 2 year fixed term deposit to obtain UAE Golden Visa?

I am trying to find reputable banks but haven't found my success yet. I did contact Citi Gold and Lombard as @BeyondBorders recommended and waiting for feedback.

@BeyondBorders half of a year after your post, do you have any other good leads?
Click to expand...
I did and no issues.

FAB can do it.
 
#6
girokredit said:
Wow congrats @kekmaw!

You got the Golden Visa by now, too? Did you have some agent or went through the Golden Visa Application by yourself?

I'm going to check out FAB then, do you also have a current account and debit as a perk, or simply just the 2M AED 2 year fixed term deposit?
Click to expand...
Yes everything is sorted and you got to get a bank account with FAB so all you get the debit cards etc with that of course.

I used Altaresh to help with the visa process. You can do it yourself but I prefer to have someone guide me through the process and if you can afford 2M AED for a deposit, you can afford those. Don't recall what the fee was but I think it was around 4-7k AED for the help, medical exam and all that.

If you upgrade your forum account so you can DM I can connect you with the banker that helped me.
 
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#9
kekmaw said:
If you upgrade your forum account so you can DM I can connect you with the banker that helped me.
Click to expand...
I'm having issues with my crypto wallet, but once that's sorted I'll DM you!


kekmaw said:
Yes they do, I believe you can loan back about 90% of it.
Click to expand...
So say you put in 2m AED fixed deposit for two year period, and additional 100k AED -- you can smoothly use a debit card to access the 100k AED?

Is the fixed deposit separate from the current account? And also do they offer multi currency facilities for you to hold USD/EUR/GBP?

With your Golden Visa, do you have any obligation to spend time in UAE in a given time period to maintain it, or no travel in requirement at all?
 
#10
girokredit said:
I'm having issues with my crypto wallet, but once that's sorted I'll DM you!



So say you put in 2m AED fixed deposit for two year period, and additional 100k AED -- you can smoothly use a debit card to access the 100k AED?

Is the fixed deposit separate from the current account? And also do they offer multi currency facilities for you to hold USD/EUR/GBP?

With your Golden Visa, do you have any obligation to spend time in UAE in a given time period to maintain it, or no travel in requirement at all?
Click to expand...

You can put in 2M or 2.1M if you so wish and loan back 90% of it.

What you do with what you loan back is up to you. Use your debit/credit card, send it somewhere else or whatever you want.

I know they do this for USD as well. I'm uncertain about the other currencies.

AFAIK I should have no requirement spending any time at all in the UAE with a golden visa.
 
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#11
kekmaw said:
You can put in 2M or 2.1M if you so wish and loan back 90% of it.

What you do with what you loan back is up to you. Use your debit/credit card, send it somewhere else or whatever you want.

I know they do this for USD as well. I'm uncertain about the other currencies.

AFAIK I should have no requirement spending any time at all in the UAE with a golden visa.
Click to expand...
What are the rates on the loan vs the interest paid?
 
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