Chelsea Residences Golden Visa

All three. 1 bedroom apartments start at AED 2.17M ≈ USD 591K, 2 bedroom apartments at AED 3.14M ≈ USD 854K and 3 bedroom apartments at AED 4.94M ≈ USD 1.35M, so every current release at Chelsea Residences by DAMAC clears the AED 2M ≈ USD 545K property investment threshold on its own, without combining properties. Eligibility is assessed on the registered purchase value of the specific unit, so a resale apartment bought below AED 2M ≈ USD 545K would not qualify alone. The full criteria are set out in the Golden Visa requirements guide.

The 1 bedroom apartment starts at AED 2.17M ≈ USD 591K, which is AED 170K ≈ USD 46K above the AED 2M ≈ USD 545K threshold. That margin is real but narrow, so any price concession, promotional adjustment or partial purchase that takes the registered contract value below AED 2M ≈ USD 545K would remove standalone eligibility. The 2 bedroom and 3 bedroom apartments, from AED 3.14M ≈ USD 854K and AED 4.94M ≈ USD 1.35M, sit well clear of the line.

Off-plan applications are typically supported by the Oqood registration of the purchase contract, together with proof that the purchase meets the qualifying value and any paid-value conditions commonly applied at the time of application; those conditions are updated from time to time. Buyers who prefer a simpler file can wait for the title deed, which is issued after handover, expected in December 2029. The process is explained step by step in the off-plan Golden Visa guide.

DAMAC's published launch plan asks for a 20% deposit on booking plus the 4% DLD registration fee, then 1% per month for 40 instalments from month 3 to month 42 after booking, and 40% on completion. The paid share therefore builds gradually, from 20% at booking to 60% after the final instalment, so the point at which a buyer meets a paid-value condition depends on the booking date and on the condition in force when the application is filed.

Joint purchases have commonly been assessed on each owner's share, with each share needing to reach AED 2M ≈ USD 545K on its own, subject to the regulations in force at the time of application. On a 3 bedroom apartment from AED 4.94M ≈ USD 1.35M, an equal two-way split gives each owner AED 2.47M ≈ USD 673K, above the threshold. On a 2 bedroom apartment from AED 3.14M ≈ USD 854K, an equal split gives AED 1.57M ≈ USD 428K each, below it, so neither owner would qualify on an equal split; an unequal split could let one owner qualify if that share reaches AED 2M ≈ USD 545K. Chelsea Residences is freehold and open to buyers of all nationalities.

A mortgage does not automatically rule a property out: financed purchases have commonly been accepted where the property value reaches AED 2M ≈ USD 545K and the lending bank issues the supporting letter required, subject to the conditions in force at the time of application. Under the published 60/40 launch plan, the 20% deposit and the 40 monthly instalments are paid to DAMAC during construction, and the 40% completion payment falls due at handover, which is usually the point at which a buyer who plans to finance the purchase needs a mortgage in place.

The property-based Golden Visa commonly allows the holder to sponsor a spouse and children, with dependant visas linked to the principal visa and subject to the conditions in force at the time of application. The qualifying purchase at Chelsea Residences is the same whether the application covers one person or a family. What the visa covers is set out in the Golden Visa benefits guide.

The program currently grants a 10-year residency visa, which is renewable. Renewal has commonly depended on still owning qualifying property at the required value, so selling the apartment, or holding only a share below AED 2M ≈ USD 545K, can affect a later renewal. The steps for a first application and a renewal are covered in the guide to applying for the UAE Golden Visa.

No. For buyers who purchase through this advisory, the VIP application service, covering document preparation, submission and status follow-up, is included at no charge. Only the official government fees apply, as published by the issuing authorities at the time of application.

No. A qualifying purchase makes you eligible to apply, but approval depends on satisfying all requirements in force at the time of application, including ownership verification and standard background checks. The project's dated Dubai Land Department register readings can be followed on the Chelsea Residences construction updates page.