The UAE golden visa is a five-year or ten-year renewable resident visa program aimed at attracting aspiring entrepreneurs, investors, and outstanding persons in specialized sectors. The program is open to medical personnel, engineers, researchers, and even high-achieving university students. It enables foreigners to live, work, or study in the UAE without the requirement for a local sponsor, and it allows for 100% foreign-owned firms.
The Golden Visa Residence is valid for ten years. Visas can also be automatically renewed in some cases, which is a useful option for individuals who suffer with the never-ending monotony of bureaucracy. Those features demonstrate the UAE government’s desire to simplify the visa application procedure. Anybody who has ever filed for a foreign visa knows how difficult these procedures can be.
Eligibility for the Golden Visa:
Nonetheless, it is important to note that the Golden Visa program’s purpose is to promote corporate development. The UAE government is looking for individuals of a certain caliber to help the economy and establish a professional workforce. As a result, the Golden Visa standards remain quite strict.
The key categories eligible to apply for residency in the UAE under the Golden Visa program are as follows:
• Investors
• Owners of specialized talents and researchers in many sectors of science and knowledge
• High-level executives
• Athletes
• Engineering and science specialists
• Artistic and cultural and artistic persons
• Inventors
• Exceptional students with potential scientific abilities
Applicants seeking for the Golden Visa under each of these categories must fulfill specific standards and criteria in order to be successful.
The UAE government has broadened the qualifying conditions for the Golden Visa program, making it more accessible to individuals from all over the world.
Nonetheless, it is important to note that the Golden Visa program’s purpose is to promote corporate development. The UAE government is looking for individuals of a certain calibre to help the economy and establish a professional workforce. As a result, the Golden Visa standards remain quite strict.
How to Apply for a Golden Visa in the UAE:
The application procedure for a Golden Visa will differ depending on your occupation and the category for which you are applying. In the next part, we’ll go through the precise qualifications for each professional group. But, the following are the fundamental actions you’ll need to take to apply for a UAE Golden Visa:
• Determine the category for which you want to apply and prepare the application form and relevant documentation
• Submit the documentation and pay the applicable fees
• Wait for contact to determine whether your application was successful or not, which can take up to 30 days
• If you are successful and have a current UAE visa, cancel it
Submit your Golden Visa application and passport, after which your new visa will be inserted into your passport
The standard application processing time may take 2 to 4 weeks, subject to additional requirements.
Standard Requirements:
• Copies of your passport, visa, and EID card
• UAE labour contract
• Salary certificate/income confirmation letter
• Education certificate fully attested and legalised by the UAE Ministry of Foreign Affairs
• Title deed, if you own property in the UAE
• Reference letter from your employer or a person of influence regarding your contribution to your industry or the UAE economy
Existing residents of the UAE on a non-Dubai visa:
• AED 2 million fixed deposit for 2 years; non-breakable in a local bank; bank confirmation letter is required
• If the deposit is withdrawn/encashed, the visa will no longer be available
(risk of auto cancellation confirmed by immigration).
Current UAE citizens in possession of a Dubai visa (business owners/investors):
• Bank statements demonstrating about AED 2 to 3 million in movement/cash in bank accounts
• Copies of all corporate documents (license, share certificate, etc.)
• If you are a corporate executive, you must have held this job for at least 5 years.
• Office lease or Ejari
• Audited financial statements
• Copy of audit firm’s license
Advantages of the Golden Visa:
Golden Visa programs in various Emirates provide you and your family members with a range of perks in a number of fields. It is critical to explore all visa possibilities while applying for citizenship.
Dubai
• Depending on the category, Golden Visa holders in Dubai may be awarded an Esaad privilege card. This card is given to persons who have Golden Visas in Dubai at no cost.
• Foreign residents in Dubai who have a driving license from another country and a Golden Visa can take a UAE driver’s license test without having to take UAE-specific lessons.
• Golden Visa holders who have a license from one of the 32 approved countries will be automatically eligible for a UAE driver’s license.
• If you are an outstanding international student in Dubai, you and your family may be awarded a 10-year resident visa. Expatriate students in this group may also be eligible for discounts at foreign universities in Dubai.
Abu Dhabi (Abu Dhabi)
- Residents with golden visas in Abu Dhabi are entitled to several incentives and discounts on real estate, health, hotels, vehicles, insurance, and financial services. This is because of the Resident’s Office’s ties with these businesses.
- As a result of business relationships with the Abu Dhabi Resident’s Office, holders of the Golden Visa in Abu Dhabi will be entitled to discounts on selected homes from real estate developer Imkan Properties.
- Many banks, notably Abu Dhabi Commercial Bank and First Abu Dhabi Bank, are providing Golden Visa real estate investors lower mortgage fixed-interest rates. They are also providing appealing savings account interest rates to non-real estate investors.
- Golden Visa holders in Abu Dhabi will receive special discounts on gyms, spas, and hotel stays.
- Golden Visa members will be eligible for automobile discounts and priority booking for new releases, as well as unique payment options, maintenance deals, and licensing services.
- Another significant benefit available to Golden Visa holders in Abu Dhabi will be lower prices on yearly health insurance packages for families and individuals.
Want to benefit from the UAE’s year-round sun, extravagant lifestyle, and rich business opportunities?
If you believe you may be qualified for a UAE Golden Visa, now is the time to act and begin researching the possibility. Contact one of our Dubai company formation specialists. With our Invest First method, we’ll show you how simple it is to acquire a Golden Visa and start a business in the UAE.