The United Arab Emirates introduced this new long-term visa scheme in 2019. The term “Golden Visa” refers to this. Foreign nationals can live, work, and study in the United Arab Emirates thanks to the Golden Visa.
The UAE has established itself as a hub for innovation, capital, and commercial opportunity. Golden Visa is intended to attract top talents and investors worldwide.
Understanding the Golden Visa’s categories, qualifications, and benefits can help secure your future in this wealthy nation.
Read on to know more.
Overview: Unlocking the Potential of the UAE Golden Visa
The Golden visa is a long-term residence visa that allows foreigners to live, work, or study in the UAE while enjoying exclusive benefits and privileges.
Eligibility to Apply for a UAE Golden Visa
Here is a list of individuals eligible to apply for a UAE Golden Visa,
- Inventors
- Entrepreneurs
- Researchers and specialized talents in different fields of science and knowledge (doctors, researchers, scientists, investors, and artists)
- Highly talented students with promising scientific capacities (high school and university students)
Categories of long-term Residency Golden Visa in the UAE
The UAE has two categories of long-term residence visas, each with different requirements and eligibility standards.
10-year UAE long-term residence Golden Visa
The golden visa is designed for various categories, including investors, entrepreneurs, outstanding specialized talents, and more. Let’s dive into the requirements and benefits of each category.
If you fit into one of the following categories, you are eligible for a long-term resident visa in the UAE for 10 years.
You contribute at least AED 10 million to the government.
You are a person with a particular talent, such as an engineer in computer programming, electronics, electrical, or biotechnology, a scientist, an inventor, a specialist, or someone with exceptional talent in the arts and humanities.
5-year Golden Visa for UAE
You can also get a 5-year UAE visa by investing in a property with a gross value of at least AED 5 million. The money you invest cannot be loaned from someone, and you must maintain it for at least three years.
Investing in UAE public sector for 10-Year Golden Visa
You must invest at least AED 10 million in the country’s public sector to qualify for a 10-year UAE visa through investment.
This includes:
- Make a deposit in an investment fund
- Set up a new company in the UAE, with a capital of AED 10 million
- Join an established company as a partner, providing your share capital is at least AED 10 million.
When you invest the money, make sure that:
- It is not a loan amount.
- Maintain the investment for a minimum of three years.
Buying Properties in UAE for 5-Year Golden Visa
Investing in properties in UAE can be a lucrative option for golden visa applicants. With a diverse range of residential and commercial properties, the UAE offers attractive opportunities for investors seeking long-term residence and the chance to thrive in a vibrant economy.
Here are some steps to help you buy property in UAE and secure your golden visa:
- Research the market: Familiarize yourself with the UAE property market and identify the types of properties that suit your investment goals and budget.
- Choose a location: Select a location that aligns with your preferences and offers growth potential, such as proximity to business hubs, tourist attractions, or transportation infrastructure.
- Find a reliable real estate agent: Engage the services of a professional real estate agent with a proven track record and in-depth knowledge of the UAE property market. They can guide you through buying and help you secure the best deal.
- Obtain pre-approval for financing: If you plan to purchase your property, obtain pre-approval from a local bank or financial institution. It gives a clear idea of the budget and strengthens your negotiation with property sellers.
- Inspect properties: Visit potential properties, evaluate their condition, and assess the surrounding neighborhood to ensure they meet your requirements.
- Make an offer: Once you find a suitable property, make an offer and negotiate the terms of the sale with the seller or their agent.
- Sign the sales agreement: After agreeing on the terms, sign a sales and purchase agreement (SPA) that outlines the property details, price, payment terms, and other relevant conditions.
- Complete the transaction: Pay the agreed price, register the property with the land department of the respective emirate, and obtain the title deed. This will ensure your ownership rights are legally recognized and protected.
- Apply for the golden visa: With your property investment secured, you can now apply for the golden visa to enjoy the benefits of long-term residence in the UAE.
Golden Visa UAE Price
The entry permit costs for persons requesting the UAE 10-year Golden Visa have recently been updated by the Federal Authority for Identification, Citizenship, Customs, and Port Security (ICP).
The current price for the six-month entrance permit is AED 1,250. The AED 1,250 fee consists of an issuance fee of AED 1,000, an application fee of AED 100, a smart services fee of AED 100, an electronic services fee of AED 28, and an ICP fee of AED 22.
UAE Golden Visa Validity
The UAE government has enhanced the Golden Visa’s 10-year validity for all categories, making it an even more alluring choice for people wishing to live and work there. Moreover, owners of Golden Visas are eligible for a multiple-entry visa.
Conclusion: Seize the Opportunity and Thrive in the UAE
The UAE golden visa offers investors, entrepreneurs, and outstanding talents a unique opportunity to establish a solid foundation in a thriving and progressive nation. Understand the requirements, explore the property market, and make informed investment decisions. You can secure your future and reap the rewards of living, working, and thriving in the UAE. Take advantage of the chance to unlock the full potential of the UAE golden visa and embark on a journey toward success and prosperity.
FREQUENTLY ASKED QUESTIONS
You must invest a minimum of AED 10 million in the UAE’s public sector or AED 5 million in real estate to be granted an investor visa in Dubai or anywhere else.
Your spouse and children are welcome to join you if you have an investor visa for the UAE. Moreover, one executive director and advisor may be added to the visa.
Yes, one UAE Investment Visa may be used by several business partners.
You can still divide the money, though, in several ways.
Each participant in the business must invest AED 10 million.
Most of the time, any foreigner requesting a visa for the UAE must be sponsored by an entity within the country, such as their employer (for a work visa) or school (for a student visa). However, in the case of a long-term residence visa for the UAE, you can apply yourself without needing a sponsor.
For UAE Investor Visa, the registered company serves as your sponsor
For UAE Property Visa, the property you purchase or invest in serves as your sponsor
