DUBAI – The United Arab Emirates has successfully established its image as a financial hub with lucrative offers and modern infrastructure.
With direct real estate investment opportunities and easy work visa process have made it a perfect choice for wealthy investors and migrants.
The UAE has launched a Golden visa, a long-term residence visa which enables foreign talents to live, work or study in the UAE while enjoying exclusive benefits.
Investors, entrepreneurs, scientists, outstanding students and graduates, humanitarian pioneers and frontline heroes are among those eligible for the Golden visa.
The exclusive benefits which can be availed by the Gold visa holders include:
an entry visa for six months with multiple entries to proceed with residence issuance
a long-term, renewable residence visa valid for 5 or 10 years
the privilege of not needing a sponsor
the ability to stay outside the UAE for more than the usual period of six months in order to keep their residence visa valid
the ability to sponsor their family members, including spouses and children regardless of their ages
the ability to sponsor unlimited number of domestic helpers
the permit for family members to stay in the UAE until the end of their permit duration, if the primary holder of the Golden visa passes away.
Requirements for the Golden visa depend on the type of residence, whether investor, talent, entrepreneur, etc.
Investors in public investments
If you invest in an investment fund, you may be granted a Golden Visa for a period of 10 years without a sponsor, subject to the:
submission of a letter from an investment fund accredited in the UAE stating that the investor has a deposit of AED two million, or
submission of a valid commercial licence or industrial licence and a memorandum of association stating that the investor’s capital is not less than AED two million
submission of a letter from Federal Tax Authority stating that the investor pays the government no less than AED 250,000 (two hundred and fifty thousand) annually.
Real estate investors
If you own a property or a group of properties, you may be granted a Golden visa for a period of 5 years, renewable on the same conditions and without a sponsor subject to the:
provision of a letter from the land department of the respective emirate stating that he owns one or more properties whose value is not less than 2 million dirhams
purchase of a property with a loan from specific local banks approved by the competent local entity.
Entrepreneurs
If you are an entrepreneur, you may get a Golden visa for a period of 5 years, if you own an economic project of a technical or future nature based on risk & innovation. In addition, you must have an approval letter from each of the following:
an auditor in the UAE stating that the project value is not less than 500,000 dirhams
the authorities in the emirate stating that the project is of a technical or future nature
an accredited business incubator in the UAE to establish the proposed activity in the country.
Outstanding specialised talents
Outstanding specialised talents include:
doctors
scientists
creative people of culture and art
inventors
executives
specialists in scientific fields
athletes
doctoral degree holders and
specialists in the fields of engineering and science.
Subjects relating to engineering and science include:
epidemiology and viruses
artificial intelligence
big data
computer engineering
electronic engineering
software engineering
electrical engineering
genetics and biotechnology engineering.
If you have an outstanding specialised talent, you may get a Golden visa for 10 years after meeting the requirements.
