What is a Golden Visa Uae?
The UAE implemented a new system for long-term residence visas, aka Golden Visa Uae in 2019 which doesn’t require a national sponsor for foreigners to live, work and study in the UAE. It gives foreigners 100 per cent ownership of their business on the UAE’s mainland. This Golden visa Dubai can be granted to investors, entrepreneurs, specialised talents and researchers in various fields of science and knowledge, and bright students with promising scientific capabilities. Those who are eligible can apply for a 5 or 10 year visa, and it can be renewed automatically.
Who can apply for a 10-year Golden Visa Uae?
For a 10-year residence visa (Golden Visa Uae), investors with at least AED 10 million in public investments like properties in Dubai can apply. The investment can take many forms, it can be a deposit of at least 10 million in an investment fund inside the country, could be a capital of at least AED 10 million to establish a company in the UAE, or a share value of not less than AED 10 million for partners in an existing or a new company. Investors can also have a total investment of AED 10 million or more in all the areas that are mentioned above, provided that at least 60 per cent of the total investment is not in the form of real estate.
However, the amount invested must not be loaned, should be retained for at least three years and there should be a financial solvency up to AED 10 million. The Golden visa Uae can be extended to include business partners on the condition that each partner contributes AED 10 million, and it can also include the spouse and children, as well as one executive and one advisor.
Persons with specialized talents can also apply for a 10-year residence golden visa Uae. This includes doctors, specialists, scientists, inventors and creative individuals in the field of culture and art. It can be extended to the spouse and children. But granting the golden visa Uae is subject to meeting certain conditions. Scientists must be holders of the Mohammed Bin Rashid Medal for Scientific Excellence or accredited by the Emirates Scientists Council, and creative individuals must be accredited by the Ministry of Culture and Youth. Inventors patents must be approved by Ministry of Economy and their patent must add some value to the UAE’s economy. Exceptional talents must be documented either through scientific research published in a world-class journal, or through patents. Executives must be holders of a high academic achievement or position or must be owners of an internationally recognized company.
Doctors and specialists can also obtain a 10-year residency golden visa provided they meet at least two of the following conditions: a Ph.D. degree from one of the top 500 universities in the world, contribution to a major scientific research in the respective field of work, an award or certificate of appreciation in the applicant’s field of work, published articles or scientific books in distinguished publications in their respective field of work, a Ph.D. degree in addition to 10-year professional experience in the applicants field, membership in an organization related to the field, or specialization in areas of priority to the UAE.
Who can apply for a 5-year visa?
For a 5-year residence visa, the conditions for investors are almost the same as they are for a 10-year visa, with the only difference being that the total amount of investment required is lowered to AED 5 million. The 5-year residency visa also includes entrepreneurs and outstanding students.
For entrepreneurs, it includes those that have a minimum capital of AED 500,000 in an existing project or those who have the approval of an accredited business incubator in the country. The visa can also be extended to the spouse and children, a partner and three executives.
Outstanding students includes students in public and private secondary schools who have achieved a minimum grade of 95 per cent and university students having a distinction GPA of at least 3.75 upon graduation from a university within or outside the country. The visa can also be extended to include families of the outstanding student.
How can you apply for the UAE Golden Visa?
Interested individuals can apply through the website of the Federal Authority for Identity and Citizenship or the General Directorate of Residency and Foreigners Affairs (GDRFA). Candidates are required to submit the necessary documents and in accordance with their business venture, be willing to relocate to the UAE.
