Golden Visa were approved for the first time in late 2020. People who have made a significant contribution to the country, have highly valued abilities, or operate in essential areas that are critical to economic growth are granted this 10-year residency permit.
What is a golden visa?
Golden visas are intended to allow foreigners to live, work and study in the UAE without the need for a national sponsor and to allow them to own 100% of their businesses on the UAE’s mainland.
These visas are valid for ten years, and if the recipient continues to follow the terms of the visa, it can be renewed for another ten years when it expires. Every two to three years, normal expatriate workers must renew their visas.
Emirati citizenship, on the other hand, can only be awarded to those nominated by government or royal court authorities.
What exactly does the Golden Visa entail?
The Golden Visa essentially grants people who fall into the following categories long-term residency (5 to 10 years): investors, entrepreneurs, individuals with exceptional talents such as researchers, medical professionals, those in the scientific and knowledge fields and exceptional students. The golden visa is especially important for Masdar City, which is the region’s centre for sustainability-focused innovation and technology research and development.
What are the advantages of a Golden visa?
There are several benefits to the UAE golden visa. The UAE government has proved its commitment to providing expats with a sense of security by awarding a golden visa. The following are some of the advantages of having a UAE golden visa:
The visa allows expatriates to live, study, and work in Dubai without needing to be sponsored by a resident. It also allows firms on the mainland to be owned 100 per cent.
These visas are good for five to 10 years and are automatically renewed, so you don’t have to worry about having to reapply for a visa before it expires.
Because the visa allows for multiple entries, you can visit the nation several times a year, making travel easier.
Your family members, such as your wife, children, and parents, can also live in the UEA if you have a visa.
You have the freedom to apply for jobs and accept positions with any organisation. For golden visa holders and other visa holders, the process for hiring and obtaining a work permit is the same.
What are the requirements of a Golden Visa in the UAE?
Investors who are applying for a golden visa must have a minimum of AED 10 million in public investment, either in the form of an investment fund or a firm. However, at least 60% of the total investment must not be in the form of real estate, the invested amount must not be lent, and investors must assume full ownership of assets in the event of assets.
The investor should also keep the money for at least three years. The holder’s spouse and children, as well as one executive director and one advisor, are all eligible for the long-term visa.
Individuals with specialised talent, in addition to entrepreneurs, are eligible to apply for the visa. Doctors, scientists, researchers, artists and investors are among them. Following accreditation by their respective departments and areas, these individuals may get an approval of a 10-year visa, which will also include their spouses and children.
In the UAE, exceptional high school and university students can apply for a 5-year resident visa. Students who graduate with a GPA of 3.75 or above from specific universities and high school students who place first in the country (a minimum grade of 95%).
Doctors and specialists must meet at least two of the following criteria: a PhD from one of the world’s top 500 universities, an award or certificate of appreciation in the applicant’s field of work, contribution to a major scientific research project in the respective field of work, published articles or scientific books in prestigious publications in the respective field of work, membership in an organisation related to the field, and a PhD degree, in addition to a PhD degree.
What is the procedure for obtaining a golden visa?
Interested applicants must register on the website of the UAE’s Federal Authority for Identity and Citizenship (ICA).
Golden services have their own section.
If you fall into one of the eligible categories but have not yet been nominated, proceed to the “Visa – Golden Visa – Nomination Request For Golden Residence – New Request” box and fill out the form.
You’ll also need your Unified Identification Number (UID), which is a six-digit number given to everyone who enters the UAE. The General Directorate of Residency and Foreigners Affairs, Dubai’s immigration agency, has also established a new staff to handle applications for golden visas and other important people. You can also contact them.
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