What is Golden Visa in United Arab Emirates?

Since its adoption in 2019, the UAE Golden Visa system has created quite a stir among some groups of expatriates seeking permanent residency in the UAE.

Foreign nationals can live, work, conduct business, and study in the UAE without the need for a national sponsor under the Golden Visa system. Foreign business owners and investors are also permitted to own 100% of their companies in the UAE. These visas will be valid for five or ten years and will be automatically renewed.

Here's all you need to know about the Golden Visa UAE, including current requirements, benefits, and the application process.

What exactly does the Golden Visa provide?

The Golden Visa system essentially provides long-term residency (5 and 10 years) to people who fall into the following categories: investors, entrepreneurs, individuals with exceptional talents such as researchers, medical professionals, and those in the scientific and knowledge fields, and exceptional students. The golden visa is especially important for Masdar City, which is the region's research and development hub for sustainability-focused innovation and technology.

The Dubai General Directorate of Residency and Foreigners Affairs (GDRFA) has began implementing the previously announced 24-hour 'You are Special' service. Among others, the programme strives to assist Golden Visa holders.

The greatest advantage would most likely be security; by issuing the Golden Visa, the UAE government has made it quite clear that they are committed to giving expatriates, investors, and anybody else wishing to make the UAE their home an additional reason to feel comfortable about their future.

What are the eligibility conditions for the Golden Visa?

The requirements differ depending on the organisation, but they are all dependant on the persons adhering to the terms and conditions of the Golden Visa.

Visa eligibility requirements for 10 years

Investors

• Having at least AED 10 million in public investment, either through an investment fund or a corporation
• A minimum of 60% of the total investment must not be in the form of real estate.
• The amount invested must not be loaned, and in the event of assets, investors must acquire full ownership.
• The investor must be able to keep the investment for at least three years.

This 10-year visa can be extended to include business partners if each partner invests AED 10 million. The holder's spouse and children, as well as one executive director and one advisor, may be included on the long-term visa. This visa can also be extended.

Doctors

In "honour of their efforts and sacrifices," the UAE will provide doctors, the first line of defense, long-term residency.

All doctors licensed by the UAE's health regulatory agencies can apply for the Golden Visa through the website between July 2021 and September 2022.

In their various fields of practice, doctors and specialists must meet at least two of the following requirements

• A Ph.D. from one of the world's top 500 colleges.
• 10-year professional experience in the applicant's specialty, as well as a Ph.D.
• A recognition award in the applicant's line of work.
• Contribution to significant scientific research
• Published articles or scientific books in prestigious journals.
• Membership in a field-related organisation.
• Specialization in priority areas for the UAE.

For doctors who want to apply for the visa in person, seven centres associated with the Federal Authority for Identity and Citizenship have been created across the UAE.

Individuals with specialized talents

Doctors, researchers, scientists, investors, and artists are among those included under the specialised talents group. Following clearance from their respective departments and fields, these persons may be given a 10-year visa. Their spouses and children are also eligible for the visa.

Coders

Coders of all nationalities and ages, whether UAE citizens or non-residents, can apply for the UAE Golden Visa through the Office of Artificial Intelligence in the UAE Government or the Federal Authority for Identity and Citizenship.

The following individuals are eligible to apply:

• Distinguished specialists and talents who have achieved success in a variety of coding fields
• Those who work for cutting-edge multinational technical companies
• Software engineering, computer science, hardware engineering, information technology, artificial intelligence, data science, big data, and electrical engineering graduates.

Google, Microsoft, Amazon, Cisco, IBM, HPE, LinkedIn, Nvidia, and Facebook have all joined together to start the plan.

Visa eligibility requirements for 5 years

Real estate investors

The conditions for the 5-year visa are basically the same as those for the ordinary investor visa. The only difference is that the required investment is fixed at AED 5 million.

Entrepreneurs

Entrepreneurs can apply for a five-year resident visa in the UAE. The eligibility conditions include having an existing enterprise with a minimum capital of AED 500,000 or having the permission of a country-accredited business incubator.

Entrepreneurs are granted a six-month multi-entry visa, which is valid for another six months. The spouse and children, a partner, and three executives are all included in the long-term visa.

Outstanding students

Outstanding high school and university students can apply for a 5-year resident visa in the UAE. Students from top high schools in the country (minimum grade point average of 95%) and students from select institutions with a GPA of 3.75 or above upon graduation. Long-term visas are also available to the families of outstanding students.

Golden Business Visa

In addition to the foregoing, international nationals seeking to establish a business in the UAE may apply for permanent residency (5 years) under the Golden Business Visa scheme. To apply, simply go to the aforementioned electronic portal and complete the processes outlined above.

How does one go about applying for a visa?

To obtain the UAE Golden Visa, you must follow a simple procedure. It's quite simple, but you must have your paperwork ready because you must also submit them. Furthermore, even if you match the eligibility conditions, you must follow the procedures.

Here are the steps you must take to apply

• Enter the following URL: https://business.goldenvisa.ae
• Request a nomination
• Your application will be reviewed by the UAE authorities within 30 days.
• You will be notified through email of the outcome of your application.
• If your nomination is approved, you will be emailed a link to a page where you can upload the necessary documentation.
• The application will be verified by the Federal Authority for Identity and Citizenship.
• The Golden Visa will be issued by the authorities.

Keep in mind that obtaining this passport requires you to be willing to relocate to the UAE. Once you enter the nation, you may carry out all of your responsibilities as a resident and begin collecting the UAE golden visa privileges, and you can Get Visa and Government Services through Connect Resources.

What is the cost of the Golden Visa?

Another significant component of the Golden Visa is the amount you must pay for this document. The fee will vary based on the validity of the visa.

The following are the fees for each of them

• AED 4850 for a 5-year and 10-year golden visa. You must also include AED150 for application fees and AED1000 for issuance. This means you'll have to pay a total of AED6000.
• The UAE government determines the period of the 5 year or 10 year Golden Visa.

You must have NOC in order to obtain a Visa, and you may learn more about the NOC in the UAE.

Conclusion

If you're interested in obtaining the UAE Golden Visa but need help with the application procedure, Dhanguard can assist you. Our team of experts will walk you through each step so that you can receive your vital legal document.

We have been assisting those who desire to come to the UAE to work and reside for the past two decades. Begin obtaining all of the golden visa UAE benefits and enjoy a high standard of life by relocating to one of the world's best countries.