The United Arab Emirates made significant changes to the UAE citizenship law allowing qualifying investors and specialized talents to be citizenized, along with their families. It introduced a new visa category – the Golden Visa UAE – with the intention to offer additional security for those seeking a promising future in the country. It explicitly targeted foreign investors, entrepreneurs, scientists, qualified professionals, and exceptional talents.
This article will take you through everything you need to know about the UAE Golden Visa – the eligibility criteria, the legal requirements, and the benefits it brings.
UAE Golden Visa: Explained
Launched in 2019, the Golden Visa UAE allows its holders to live, work, and study in the United Arab Emirates. This new visa system was introduced to attract foreigners, especially to Dubai. The benefits of this long-term residency visa included the following: –
- Self-sponsored
- Extended stay outside the UAE beyond the typical six-month limit
- Inclusion of spouses and children, regardless of their ages
- 100% ownership of the foreign business without the need for a local partner
- Multiple entry facility to the UAE
- Registration of assets without any restrictions
- Straightforward process for opening a bank account in any of the emirates
- Visa-free travel to many countries including Canada, Belgium, Finland, Japan, Italy, and France among others.
- Discount on selected properties.
- Reduced mortgage fixed-interest rates
- Attractive rates on savings account
- Reduced premiums on annual health insurance plans
- Eligibility for a UAE driver’s license
- Discounts to pursue higher education in international university branches in Dubai
- Comfortable cushion of up to 10 years of residency
- Priority treatment in various government transactions
- Access to the UAE’s world-class educational and healthcare systems
- Provision of a stable environment to invest in the lucrative real estate market of the UAE
- Sponsorship of domestic helpers
Eligible candidates for Golden Visa UAE
The UAE Golden Visa is designed for specific categories of people which include –
- Investors – who have invested in a public investment fund or real estate
- Entrepreneurs – who are owners of a registered startup or founders of a company that was sold within or outside the UAE
- Exceptional talents – inventors and innovators or hold excellence in culture and art, sports, or digital technology.
- Scientists and professionals – Scientists, Chief Executives & Senior Officials, Professionals in the fields of Science, Engineering, Health, Education, Business and Administration, Information Technology, Legal, Social, and Cultural.
- Outstanding students and graduates – who have performed well in secondary school, or graduated from the top best 100 universities worldwide
- Humanitarian pioneers – who are prominent members of international and regional organizations and associations of public benefit, honored in humanitarian fields, or volunteers and sponsors of charitable programs
- Frontline heroes – who have exerted extraordinary efforts in crises, such as pandemics
You can reach out to the visa consultants at Shuraa Business Setup for more information regarding the eligibility criteria for Golden Visa Dubai.
Requirements/Conditions to obtain a Golden visa UAE
The foreign applicants are required to fulfill the following conditions to acquire a Golden Visa Dubai –
Foreign Investors
- For a 10-year Golden visa, the applicant must invest at least AED 10 million in the UAE, either in the form of an investment fund or a company.
- For a 5-year Golden visa, the investment must be worth AED 5 million.
- The investment amount must not be mortgaged and maintained for a minimum of 3 years.
- 60% of the total fund must be invested in any other non-real estate sector.
Individuals WithSpecialised Talent
- Individuals with specialized talents must get accreditations from their departments and fields.
- Scientists must get their approval from the Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence, while creative individuals must get accredited by the Ministry of Culture and Knowledge Development.
- Individuals from the field of education must be qualified from any of the 500 international universities approved by the Ministry of Education.
- Doctors must have 20 years of experience as a medical practitioner.
Real Estate Investors
- They must make an investment of AED 5 million or AED 10 million in real estate to apply for a 5-year or 10-year Golden Visa UAE respectively.
Students and Specialists
- Students must have an outstanding academic background and a minimum grade of 95% in private and public secondary schools.
- Graduates from colleges or universities must have a distinction GPA of a minimum of 3.75.
Entrepreneurs
- Entrepreneurs must have an existing project worth at least AED 500,000 or have the approval of an authorized business incubator in the UAE.
Chief Executives
- The applying candidates must have a bachelor’s degree and 5 years or more experience.
- They must be earning a salary of 30,000 AED or more under a legitimate job contract.
Applying for a Golden Visa Dubai
To obtain a Golden Visa in the UAE, the applicant must approach the Federal Authority for Identity and Citizenship (ICA) or the General Directorate of Residency and Foreigners Affairs (GDRFA).
GDRFA accepts both online and offline applications whereas ICA allows only online applications.
The basic steps include the following: –
Determine the eligibility
Assess the criteria and ensure that you are eligible to apply for a UAE Golden Visa. You must meet the qualifications for either category – investors, entrepreneurs, exceptional talents, or students.
Read also: The Top 3 Business Reasons To Outsource the Cleaning Of Your Warehouse to a Specialist Firm
Get an entry permit
To apply for a long-term visa in the UAE, the applicant must first get an entry permit before submitting an official application. The authorities will then review the application and issue an entry permit and visa accordingly.
Start your application
Once the applicant’s entry to the UAE is approved, they need to complete their investment before proceeding to the visa application process. They can either apply online or offline with the concerned authorities for their Golden Visa UAE. The process will include a medical checkup of the applicant to test for any infectious diseases or severe ailments. Further, depending on the category of visa, they need to arrange and submit the necessary documents along with the official application.
Get notified about the application status
Once this process is completed, the applicant will be notified through a text message and an email regarding the status of their visa application. If, in case, the applicant fails to present any important document, they are provided 30 days (about 4 and a half weeks) to submit it to the authorities, or else their application will be canceled.
The list of documents required for the process will entail the following: –
- Passport
- Marriage certificate (for bringing the spouse to the UAE)
- Certificate of no-criminal record from the native country
- Good Conduct Certificate
- Medical fitness report
- Health insurance
- UAE visa
- Proof of investment
- Business ownership
The price of the Golden Visa UAE may differ based on the category of the visa. Similarly, the cost of applying for a visa from within the UAE is different from that applied from outside the UAE. However, the basic charges would include the application fee, entry permit charges, and medical checkup expenses.
Shuraa can help you get your Golden Visa UAE
Shuraa Business Setup offers comprehensive services related to business setup and immigration in the UAE. They provide end-to-end solutions for all kinds of immigration concerns. Their team of specialists consists of legal advisors and certified real estate professionals who can help you make real estate investments and obtain UAE citizenship.
So, get ready to plant roots in this desert paradise! Talk to one of the experienced professionals of Shuraa and get answers to all your queries. Visitwww.shuraa.com for further info.
