The UAE Golden Visa is a highly coveted long-term residency visa that grants individuals the opportunity to live, work, and invest in the United Arab Emirates for up to 10 years. First introduced in 2019 and refined in 2022, this visa is tailored to attract high-net-worth individuals, investors, skilled professionals, and talented individuals from around the world. In this comprehensive guide, we’ll explore the eligibility criteria, benefits, and step-by-step application process for obtaining the UAE Golden Visa.
What is the UAE Golden Visa?
The UAE Golden Visa is a strategic initiative by the UAE government aimed at bolstering the nation’s economic growth by welcoming global talent and investment. The visa provides long-term residency to qualifying individuals, making it an ideal option for those looking to establish a stable presence in one of the world’s most dynamic and fast-growing economies.
Key Categories of Eligibility
To qualify for the UAE Golden Visa, applicants must meet the criteria for one of the following categories:
Investors
Real Estate Investors:
- Investment Requirement: Applicants must invest in property or off-plan deals worth at least AED 2 million. This category is open to all nationalities with no restrictions on the type or location of the property.
- Additional Requirements:
- The investor must own property valued at AED 2 million or more at the time of purchase.
- At least 50% of the property value must be paid before applying for the visa.
- If the property is mortgaged, a No Objection Certificate (NOC) from the bank is required, detailing the paid and remaining amounts.
- Investors can sponsor their spouse, children, and other eligible dependents.
Commercial Investors:
- Investment in an Investment Fund:
- Provide the company’s financial report from the previous year, prepared by a certified financial auditor.
- Submit the company’s trade license and a photocopy of the list of partners’ names.
- Include the company’s bank statement for the last three months and the previous year’s VAT return.
- Investment in a Fixed Deposit:
- Submit a bank letter (in Arabic) confirming a fixed deposit of AED 2 million for a minimum of two years.
- The letter must state that the deposit will not be withdrawn during this period or, if broken, that the General Directorate of Residency and Foreigners Affairs – Dubai will be notified.
Tax Return Investors:
- Required Documents:
- A letter from the Federal Tax Authority.
- The company’s trade license and a photocopy of the list of partners’ names.
- A copy of the applicant’s residency visa.
Entrepreneurs
- Start-up Owners: Must own a start-up registered as a small and medium enterprise (SME) in the UAE with annual revenues of at least AED 1 million.
- Business Founders: Applicants who have founded a business that was sold for more than AED 7 million are eligible.
- Start-up Approval: Entrepreneurs with approval from an official UAE business incubator can also qualify for the visa.
Exceptional Talents
- Eligibility: This category is for individuals with exceptional talents in fields such as culture, art, sports, digital technology, or innovation. Applicants are assessed based on their achievements and contributions to their field, with no restrictions on nationality or age.
Scientists
- Requirements: Applicants must hold a PhD or Master’s Degree in fields like engineering, technology, life sciences, or natural sciences from top global universities. A recommendation from the Emirates Scientists Council is also required, along with evidence of substantial research achievements.
Professionals
- Eligibility: Highly-skilled professionals across various disciplines such as medicine, science, engineering, IT, business, law, and education can apply. Applicants must hold a minimum of a Bachelor’s Degree, have a UAE employment contract, and earn a monthly salary of AED 30,000 or above.
Outstanding Students and Graduates
- Requirements:
- High-achieving students from UAE secondary schools or top universities worldwide with a GPA of 3.8 or higher are eligible.
- High school students with an average of at least 95% are also eligible, with the visa extending to their families.
Humanitarian Pioneers
- Eligibility: Distinguished members of international or regional charitable organizations or associations of public benefit are eligible to apply.
Frontline Heroes
- Eligibility: Healthcare workers and frontline staff who have played a crucial role during extraordinary circumstances like the COVID-19 pandemic are recognized under this category. This includes doctors, nurses, and paramedics.
Retired Foreigners
- Eligibility: Retired foreigners can obtain a Golden Residency Visa for 5 years, renewable, without a sponsor.
- Requirements: A bank letter confirming a deposit or income of AED 15,000 or real estate ownership valued at AED 1 million is required.
Additional Benefits of the UAE Golden Visa
The UAE Golden Visa offers numerous benefits, including:
- Long-Term Residency: Valid for up to 10 years, with the possibility of renewal.
- Work and Business Opportunities: No local sponsor is required to work or start a business in the UAE.
- Family Sponsorship: The visa can be extended to include your spouse, children, one executive director, and one advisor.
- Access to Education and Healthcare: Visa holders and their families have access to the UAE’s public education and healthcare systems.
- Ease of Travel: Simplified entry and exit from the UAE.
- Dubai Police Esaad Privilege Card: Offers additional perks and discounts across various sectors.
How to Apply for the UAE Golden Visa
Are you ready to apply for the UAE Golden Visa? Although the process can be complex, the right guidance can make it straightforward.
Step-by-Step Application Process
- Check Your Eligibility: Confirm that you meet the criteria for one of the eligible categories.
- Prepare Your Documents: Gather all necessary documentation, including proof of investment, educational qualifications, employment contracts, and other relevant materials.
- Submit Your Application: Applications can be submitted online or through an authorized UAE visa center.
- Await Approval: Processing times vary, but once approved, you will receive your UAE Golden Visa.
Need Assistance?
The application process for the UAE Golden Visa can be daunting. Homasa Consultants is here to assist you. Our team of experts will guide you through every step, ensuring a smooth and successful application process.
The UAE Golden Visa presents an exceptional opportunity for individuals seeking to establish themselves in one of the world’s most vibrant and economically prosperous regions. Whether you’re an investor, entrepreneur, professional, or student, this visa provides unparalleled benefits and security for you and your family.
