All about UAE Golden Visa
The UAE Golden Visa is one of the most beneficial and powerful tools issued by the government of the UAE that has provided miraculous advantages to its recipients. It has been regarded as a benchmark for flexible long-term residency mechanisms. Ever since its launch, it has catapulted itself into the lives of countless foreign hopefuls who have dreamt of residing in this modernistic country long-term.
This is your one-stop space to get all the information you need about the UAE Golden Visa – what it is, who is eligible for it, how can you apply for it, what documents you need for it, and how can you benefit from it, among others. With a wholesome knowledge of this highly rewarding mechanism, we believe you can make your stay in the UAE longer, safer, and more profitable.
What is the UAE Golden Visa?
The UAE Golden Visa is essentially a long-term residence permit granted to foreign citizens that enables them to live, study, and work in the UAE. The applicants can even sponsor their spouses, parents, kids, and other allied dependent family members with them with the help of this visa.
This special scheme has been introduced by the Government of the UAE to foster a better relationship with foreign nations and to attract skilled professionals, entrepreneurs, investors, and outstanding students from foreign lands to the UAE. It has been hailed as a ground-breaking positive measure to introduce interested foreign nationalities to the wholesome business opportunities, world-class amenities, and modern quality of life of the UAE.
Benefits of the UAE Golden Visa
The popularity of the UAE Golden Visa stems from the advantages it provides to its holders. Among the numerous benefits of the UAE Golden Visa, the most prominent ones are as follows.
Long-term Residency
The biggest benefit of the Golden Visa is undoubtedly the long-term residency it provides to its holders. As it can be extended for a duration of 5-10 years, it gives you the chance to focus on your professional or academic endeavors without having to constantly worry about renewing your visa. Entrepreneurs are empowered to dedicate their attention to growing their business and after the completion of the long tenure, there is always the opportunity to renew it again for another long-term period.
No Sponsor Required
Since the UAE Golden Visa doesn’t require a local sponsor, it distinctly separates itself from other types of visas in the country. Due to this feature, investors and entrepreneurs get full autonomy over their business operations without having to rely on a local partnership. It makes launching, establishing, and managing businesses even simpler and enhances their operation capabilities.
Family Inclusion
To sponsor family members including spouses, parents, children, siblings, and other allied dependents, the UAE Golden Visa is the most powerful tool. With its help, your family can reside with you in the UAE. This helps in reinforcing family bonds and creates a profound sense of security and belonging.
Widespread Employment Opportunities
The unparalleled access to employment opportunities in the UAE is one of the many reasons why people want to settle in UAE. With the help of the UAE Golden Visa, you get to explore the world-class infrastructure and amenities along with the modern lifestyle in the urban ecosystems of the nation. The strategic location of the country makes it the perfect business hub in the Middle East which results in numerous business opportunities in diverse fields.
Exemption from Employment Restrictions
The UAE Golden Visa allows the holder to get an exemption from various employment restrictions. With its help, they can enjoy flexibility in the job market. Furthermore, it allows holders to pursue multiple job opportunities at the same time and to easily change employers. This helps them in seeking professional advancements in their career.
Property Ownership Rights
The UAE Golden Visa streamlines the property ownership process in the nation. Holders of the visa can buy and manage properties in prime locations. Since the nation is a tourism as well as a business hub, investing in real estate is highly profitable. The long-term visa helps in offering stability in influencing lending decisions. As such, Golden Visa holders can expand their portfolios of their property and leverage the real estate market.
Access to Premium Healthcare
You also enjoy access to a widespread healthcare system with the UAE Golden Visa that plays a pivotal role in achieving a high-quality life. You get modern medical facilities powered by the latest technology and assisted by top-notch professionals. You are also provided with advanced treatment options designed to offer you the best health and well-being.
Esaad Privilege Card
You get a complimentary Esaad Privilege Card with the UAE Golden Visa which provides a wide range of discounts and allied benefits to elevate your financial and lifestyle requirements. You get to enjoy substantial savings across several sectors such as hospitality, banking, healthcare, automotive, and real estate, among others.
Eligibility Criteria
A wide and eclectic range of professionals are eligible for the UAE Golden Visa. Here are the distinct eligibility criteria for the different professions.
Investors in Public Investments
Candidates who have made specific significant investments in investment funds are eligible for a 10-year Golden Visa permit without requiring a sponsor. The interested candidate must have a letter from an investment fund that states that he or she has a deposit of AED 2 million or must have a valid industrial or commercial license and a Memorandum of Association (MoA). The candidate must also possess a letter from the Federal Tax Authority that states that the investor pays at least AED 250,000 annually to the government.
Real Estate Investors
Owners of a property or a group of properties can be granted a Golden Visa that is renewable without a sponsor. Candidate must provide a letter from the land department that states that he or she owns a property or properties worth at least AED 2 million. For such a huge sum involved, it is recommended to invest with a reliable real estate developer to ensure a safe and transparent transaction.
Entrepreneurs
Entrepreneurs and business owners with a successful track record who are interested in expanding their ventures in the UAE are eligible for this visa as well. If you have an economic project of a technical or future nature, then you are eligible for a 5-year visa as well.
Skilled Professionals
Candidates with expertise in healthcare, finance, technology, inventors, executives, specialists in scientific fields, doctoral degree holders, athletes, and engineering can get a Golden Visa for 10 years as long as they fulfill the specific requirements of their designated category of expertise. The field of engineering consists of electronic, software, computer, genetics, and biotechnology engineering, along with artificial intelligence, and epidemiology.
Outstanding Students
Exceptional students with excellence in academics, sports, arts, and culture are qualified to obtain the UAE Golden Visa as well. High school students can get a 5-year permit with an allowance for an extended period if he or she is enrolled in a college that requires a study period of more than five years. University students, on the other hand, can get a permit for 10 years.
Frontline Heroes
Frontline heroes who have displayed extraordinary effort in moments of crisis are eligible for the visa as well with a recommendation from a competent authority. This can include medical assistants pharmacologists, lab technicians, nurses, and other allied cadres approved by the Frontline Heroes Office.
Humanitarians
Pioneers of humanitarian work can obtain a UAE Golden Visa if they have worked for regional and international organizations in the humanitarian field or have received an appreciation award from a local, regional, or international organization specializing in humanitarianism. This also applies to outstanding employees who have worked in public interest institutions and civil associations or have been funders of a minimum AED 2 million value of support to humanitarian work.
Documents Required
The documents required to obtain the Golden Visa in the UAE are as follows.
- Passport copies of the applicants.
- Passport-size photographs.
- Proof of investment, employment contract, or business ownership.
- Educational certificates for outstanding students.
- Health insurance coverage for the applicant and associated family members.
- Additional documents about individual professions.
Application Process
You can participate in the application process online through the official website of the General Directorate of Residency and Foreigners Affairs (GDRFA) or the Federal Authority for Identity and Citizenship (ICA). In either case, you need to visit their respective website, create an account, and fill out the application form. Follow it up by uploading the necessary documents and paying the application fee and await the approval and issuance of the visa electronically.
You can also complete the application process offline by visiting a GDRFA service center or Amer center, filling out the application form, presenting the necessary documents, and paying the application fee. Follow up with the GDRFA for any updates on the status of your application.
Real Estate and UAE Golden Visa
Thanks to government initiatives, foreign investors have a remarkably easy way to obtain a Golden Visa by investing in real estate properties. As long as you are investing in properties worth at least AED 2 million, you are eligible for a 10-year visa permit. For instance, Aqua Arc, which is nestled in the prime location of Al Marjan Island in Ras Al Khaimah has a starting price of AED 2.3 million. An architectural masterpiece bestowed with all the modern amenities, this exquisite sanctuary is designed to elevate your urban lifestyle to the zenith of luxury.
Investing in such a property is not only beneficial given you win eligibility for the Golden Visa with it but is also economically affordable thanks to its flexible payment plan package. With a down payment of just 10%, the compartmentalized payment package ensures you don’t face any financial strain in obtaining ownership of the property.
To Conclude
The UAE Golden Visa is a boon to foreign nationalities who want to live, study, and work in the UAE for a prolonged period. It allows expats to relocate to this highly developed country that has been acclaimed due to its tax exemption regimes on income, capital gains, and inheritance. With a booming economy and wide career opportunities along with scenic beauty, the UAE is the ultimate urban hub and the Golden Visa has empowered foreign citizens to explore the opportunities and beauty of the country.