No ₹23 lakh golden visa in UAE? Report claims no such pilot, agents deny any rule change

A golden visa to the UAE for just ₹23 lakh? That viral claim spreading across Indian social media has reportedly been denied by top Dubai insiders. 

There’s no such pilot, no new rules—just confusion and hype, as per an Economic Times report.

The buzz began with reports that the UAE was offering a new “nomination-based” golden visa to Indian and Bangladeshi citizens at a dramatically reduced cost—down from ₹4 crore to ₹23 lakh. 

But consultants working on the ground say the story doesn’t add up.

Iqbal Marconi, former CEO of the ECH Group, reportedly contacted the General Directorate of Residency and Foreigners Affairs (GDRFA) and found no trace of such a programme. “They say they have no such information,” he was quoted as saying in the report. “So, the news is likely to be untrue.”

Other senior consultants echoed that view, noting that nomination-based golden visas without an investment requirement have existed since 2019—but are rare, discretionary, and unchanged.

“This is not new. There’s been no official update,” said a Mumbai-based advisor. Industry insiders confirm that the only confirmed recent policy shift is that crypto investors are now excluded from eligibility.

Meanwhile, real estate–linked golden visas still demand a minimum AED 2 million (₹4.66 crore) investment. If a low-cost visa were truly available, it would upend Dubai’s real estate market, where Indian investors account for nearly 8% of annual transactions.

“A ₹23 lakh option would shake the entire pricing strategy,” said one Dubai property expert.

But a UAE official speaking off the record confirmed in the report: “Golden Visas are not for sale.” All nominations undergo strict vetting, and final decisions rest solely with the government—not consultants, not agents.

So far, there has been no official announcement from the UAE government or mention in Emirates News Agency. Whether a policy shift is underway—or whether the buzz was simply premature—remains unclear.