The UAE introduced the Golden Visa, a long-term residence visa, in 2019 to enable people from around the world to live, work, and study in the UAE. The best part about this long-term residence visa is that the applicant doesn’t need a national sponsor and, unlike before, the ones who wish to set up their own business can have 100% ownership of their business. The holders of this visa enjoy exclusive benefits.
What the UAE’s Golden Visa Offers
In addition to enabling foreigners to live, work, and study in the UAE, the Golden Visa offers various other benefits to its holders, such as:
- Get an entry visa for six months with multiple entries to move the residence issuance process forward
- A long-term 5- or 10-year valid renewable residence visa
- The freedom of not requiring a sponsor
- The freedom to stay outside the UAE for more than 6 months without harming the validity of their visa
- The ability to sponsor family members, including spouses and children regardless of their ages
- The privilege to sponsor unlimited number of domestic helpers
- The permission for family members to reside in the UAE until the end of their permit duration, if the primary holder of the Golden visa passes away
Who Is Eligible for UAE’s Golden Visa?
The eligibility requirements for UAE Golden Visa are setup in a way that they encourage the best minds and the most influential people from around the world to come, live, and explore in the UAE.
If you make public investments in an investment fund in the UAE, you might be eligible for UAE 10-year Golden visa without a sponsor. However, there are certain requirements for investors, such as the invested capital must be owned by the investor, it should not be a loan. The investor needs to provide proof of medical insurance for himself and the family.
- The investor also needs to submit a letter from an investment fund accredited in the UAE, which means the investor has a deposit of AED 2 million.
- In case of the submission of a valid commercial license or industrial license and a memorandum of association, it must be stated that the investor’s capital is not less than AED 2 million.
- The investor is also subjected to the submission of a letter from the FTA which mentions that the investor pays the government no less than AED 250,000 annually.
Real Estate Investors
Investors who own one or more properties in the UAE may be granted a renewable Golden visa for 5 years without any sponsor.
In this case, the Golden visa requires the provision of a letter from the land department of the respective emirate stating that the investor owns properties of value not less than AED 2 million.
Besides, the purchase of the property with a loan should be from specific local banks approved by competent local entity.
Entrepreneurs who own an economic project of a technical or future nature based on risk and innovation may be granted 5-year Golden visa.
They also need to get an approval letter from:
- an auditor stating that the project value is not less than AED 500,000,
- authorities stating that the project is of future or technical nature
- an accredited business incubator in the UAE to establish the proposed business activity in the UAE.
Outstanding Special Talents
In addition, 5- or 10-year Golden Visa is also available for outstanding special talents, such as:
- Creative people from the art and culture field
- Specialists in scientific fields
- Doctoral degree holders
If you wish to obtain UAE golden visa, connect with Lights Triangle – the leading Golden Visa consultancy in the UAE to check your eligibility today.