Overview: UAE Golden Visa
The UAE government has implemented a number of measures to attract foreign inhabitants to the nation and so increase economic growth and competitiveness. One such measure implemented by the government is the introduction of the UAE Golden visa. The UAE government established the “Golden visa” in 2019 as a desirable strategy to draw in more visitors from abroad.
Several advantages, including providing foreign residents with access to the UAE’s medical and educational institutions, are granted if you obtain a UAE golden visa. But, in order to benefit from all this visa has to offer, you must first obtain the visa and comprehend the conditions for doing so.
In this article, we will be discussing how to apply for a UAE Golden Visa, the requirements to be fulfilled, and who qualifies for the visa. Along with that, we’ll talk about the benefits of obtaining a UAE golden visa.
What is UAE Golden Visa?
The UAE Golden Visa is an important, legal document that helps foreign citizens in gaining long-term residence permits. In 2019, The UAE government offers golden visas to entice new foreign immigrants and give them a chance to stay, work, and study there for a maximum period of 10 years.
With the help of a UAE golden visa, you can easily claim a residential permit of 5-10 years. Foreign citizens who see UAE as their new home, and don’t wish to worry about rapid renewals, can apply for the UAE golden visa.
Procedure To Get The UAE Golden Visa
Those who would like to apply for a Golden visa can either do it through the Federal Authority for Identity, Citizenship, Customs & Port Security portal or via the GDRFA portal. A simple procedure must be followed to receive the UAE Golden Visa. It’s quite easy, but you must have your paperwork ready because you will also have to submit them. Furthermore, even if you match the qualifying conditions, you must follow the rules.
If you apply through the Federal Authority for Identity, Citizenship, Customs & Port Security portal, then follow the steps given below:
- Go to the public service section of the official website and choose the visa golden residence option.
- Select the ‘start service’ option.
- Fill out the application form and click on the next option.
- Upload the required supporting documentation.
- After that, you can examine the application.
- Pay the required fee, then press the “submit” option.
- A notification containing the “Request number” and the words “Request Applied Successfully” will show up for the applicant once the procedure is finished.
- The request will be verified by the Federal Authority for Identity and Citizenship.
- The UAE Golden Visa will be issued by the government.
To apply through the GDRFA portal, follow the steps mentioned below:
- Choose the Residency services option when you visit the official website.
- Choose the option for a residence visa.
- Choose the Golden Visa service you want from a list of the various categories that are available.
- Complete the application and include all required documentation.
- Then, send the application after paying the needed fees.
Take into account that you should be prepared to move to Dubai to obtain this passport. Once you’ve arrived in the nation, you’ll be capable of carrying out all of your responsibilities as a citizen and begin collecting the Dubai golden visa privileges.
Cost & Requirements to get the UAE Golden Visa
After knowing about the procedure to apply for a UAE Golden Visa, the next question that might come to your mind would be regarding the cost of the UAE Golden Visa. So, the cost of the visa will be based on the validity it is offering.
The UAE government offers a golden visa residential permit of 5 – 10 years, and the price for that visa is AED 4800. In this value, you should add more AED 150 as the application charges, and more AED 1000 as the issuance fee. So, to sum it all up, the final cost that you need would be, AED 6000.
Requirements for a UAE Golden Visa
Now coming to the requirements for getting the UAE golden visa, these depend on the category you belong to. Below are mentioned some of the few popular categories, read along to find out the requirements for your category:
For people with specialized talent
Individuals with specialized skills are eligible to apply for a 10-year UAE golden visa. They will only be awarded the visa after being accredited by their relevant departments and fields.
Programmers- You might be interested in learning how to register for a Dubai golden visa. Engineers and coders of all age groups and countries can request the Dubai golden visa in the United Arab Emirates. They may do so through the United Arab Emirates’ Government’s Office of AI Technology.
Doctors are required to have 20 years of clinical experience in their specialty.
Doctors: Doctors can request a UAE golden visa by filling out an online application. You also can enroll if you’re a Dubai-certified expert.
For Public Investment Investors
If you contribute to an investment fund, you can be given a Golden Visa for ten years without the need for a sponsor if you stick to the requirements given below:
- Individuals having public investments worth at least AED 10 million (in the form of a corporation or an investment fund) are eligible to apply for this visa, which is valid for 10 years.
- The Government will extend a 10-year visa to business partners (each) who contribute AED 10 million.
- On the other hand, applicants for a 5-year visa must have at least AED 5 million.
- Individuals must keep the money they have invested for three years and not lend it.
- Receipt of a document from the Federal Tax Authority attesting that the investor provides the government a minimum of AED 250,000 a year.
- An investor should also show documentation of his family’s and his own health insurance.
- There shouldn’t be any investment on a loan, and in the case of assets, complete ownership should belong to the investor.
Designed for students and experts
Whenever it pertains to great pupils or educational professionals, they should meet one of the below-mentioned parameters:
- Individuals in high school with at least a grade of 95% and college students with outstanding scores of 3.8 GPA or higher.
- In your field of competence, you should be awarded the prize or certification of recognition.
- Graduate from any of the world’s top 500 colleges.
For entrepreneurs
A 5-year residence visa is available to businessmen.
The following requirements should be considered:
- Authorization of a government-approved business incubator
- Have any existing work with at least an amount of AED 500,000 or clearance from a recognized business accelerator.
- All who register as businessmen must first obtain a half-yearly multi-entry visa, which must then be renewed for a further period of 6 months. Their wife and kids, and also 3 executive officers and a companion, can be sponsored.
- Paperwork for the businessman’s and his/her family member’s medical insurance
For Real estate investors
Real estate investors’ criteria are nearly identical to those of common investors. The only distinction is that they could still seek a 5-year residence and make an AED 2 million worth of investment.
For Chief Executives
After completing the following requirements, the Chief Executives can apply and get a UAE Golden Visa:
- In his/her specific field, the chief executive should have experience of at least 5 years
- Should be a holder of a bachelor’s degree
- Should have medical insurance for himself/herself and also for his/her family
- Should have an income of AED 50,000 or more. He/she should also be the holder of an official job agreement.
Who is eligible for a UAE Golden Visa?
To obtain all these benefits, you will first have to check if you are eligible or not.
Below is mentioned the list of people who can apply for the UAE golden visa:
- Chief executives
- Scientists, Ph.D. holders, and data experts
- Outstanding students (their family members can register too)
- Medical doctors
- Artists
- Investors
- University graduates with a 3.8 GPA score or more
- Entrepreneurs
- Real estate investors
What does the UAE Golden Visa have to offer?
Before we understand what does UAE golden visa offer to the applicants, it is important to learn why are foreigners choosing UAE as their future home in the first place? The reason behind that is that Dubai is the most fascinating place in the world, and several entrepreneurs, foreign investors, and professionals are finding ways to incorporate their business there.
Additionally, the UAE authorities have initiated different programs with the target to capture talented organizations to enhance the economy. The UAE Golden visa is an example of such a program.
This scheme of UAE golden visa was introduced in 2019, to offer a long-term residential visa to foreign citizens and ex-pats. It also helps foreigners in establishing their life, education, and career in the UAE. But this scheme differs from the others as it doesn’t require a sponsor. The other schemes, as per requirements, would need a national sponsor.
So, just like this, there are several other advantages of a UAE golden visa that you can avail yourself of after receiving this document. Read along to find out about the benefits of a UAE golden visa, the procedure of getting it, and everything about the eligibility, cost, and requirements.
Benefits of The UAE Golden Visa
The popularity of the Dubai Golden visa is increasing day by day, and the programs related to it are creating a buzz everywhere. This visa offers foreigners a long-term residency or even UAE citizenship. So, a residence permit, or citizenship in a nation that has a better track of development than the applicant’s nation is nothing but a win-win situation. Below are mentioned the perks you get with Dubai golden visa:
1. Hassle-free travel
If you have a UAE golden visa, think of yourself as a UAE citizen. That gives you a hassle-free travel experience. After getting the Dubai golden visa you can easily study, work, or live in UAE, without again worrying or applying for a visa again.
2. No requirement for national sponsors
Like the guidelines in other visa programs, the UAE golden visa scheme doesn’t require any national sponsor. You will get complete accountability for forming companies in the UAE. This visa will get issued for 5-10 years, and then get auto-renewed.
3. No Income and Corporate Tax
As one must know, UAE is a nation free of tax, the foreigners or investors can avail the advantages of neglecting tax in their nation by registering for a tax residence certificate from Dubai. The perk of investing in Dubai is that you get tax-free profits and income. So, all your investments in bonds or properties will automatically become a profitable decisions.
4. Numerous accounts
With a golden visa, you get the authority of calling another nation your home, and that makes it easier for you to open a bank account there. Opening numerous accounts will prove to be beneficial as your funds will gain security and get saved from the crisis.
Conclusion
We’ve already covered the advantages of getting a Golden visa in this article, as well as how to do it. You must obtain a Golden Visa in the UAE in order to work, reside, or conduct any business activity there.
If you find the application process to be a little challenging, our professionals at Odint Consulting will be happy to help. To ensure that you successfully obtain your visa, our team of experts will guide you through every stage of the procedure.
FAQ’s
The price of the Golden Visa for those who are currently residents of the UAE ranges from AED 2,800 to AED 3,800. The price of the Golden Visa for applicants outside of the UAE ranges from AED 3,800 to AED 4,800.
This includes the residency-by-investment program known as the UAE Investor Visa or Golden Visa. If your application is accepted, you’ll get a renewable 5- or 10-year permit. Starting in 2021, those with investor visas will be able to seek for UAE citizenship.
Indian nationals are permitted to spend more than six months abroad without losing their UAE Golden residency visa. The UAE allows Golden Visa holders to work, study, and reside there. people with a Golden Visa UAE is the sole owner of the company in the UAE.
It essentially provides long-term residency to persons who have a role with the following organizations: entrepreneurs, scientists, engineers, doctors, scholars, and those working in technology and knowledge sectors.
Non-national and non-resident businessmen who intend to establish commercial activities in the UAE can apply for the Business Gold Visa, which grants them permanent status.
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