The Golden visa is one of the services provided by the Federal Authority of the UAE. Under this service, people who are compatible with the conditions can apply for a long-term residency for a period of five to ten years. The process is initiated by applying the authority’s platforms, filling in the data, attaching the required documents, and paying the service fees.
What Is the Dubai Golden Visa?
UAE Golden Visa, also called the Dubai Golden Visa, is a long-term residency visa that allows investors and talented foreigners to live, work, and/or study in the country.
Types of UAE Golden visas
The Golden visa offers two types of visas:
- A 5-year Green Residence visa: This is for skilled professionals, freelancers, investors, and entrepreneurs. You can add three executives and family
- A 10-year visa: This is for investors and entrepreneurs. You can add family, domestic support staff, one executive director, one advisor, and business partners contributing AED2 million (approx. US$544,484)
Who Is Eligible for the Golden Visa Dubai?
UAE Golden Visas can be acquired by various types of individuals who want to get residency in the UAE, including:
- Investors
- Entrepreneurs
- Teachers
- Exceptional talents
- Scientists and professionals
- Outstanding students and graduates
- Humanitarian pioneers
- Frontline heroes
Benefits Of Having a Golden Visa in Dubai
The benefits of the Golden Visa UAE include, but are not limited to, the following:
- The Dubai Golden Visa is self-sponsored since no sponsorship from an employer is required.
- With the Golden Visa UAE, you’re able to extend your stay outside the UAE beyond the typical six-month limit to maintain the validity of your residence visa.
- You’re able to include your spouse and children, regardless of their ages.
- You do not need a separate work or employment permit to work in the Emirates.
- You can have access to health, education, and other services that the government provides.
- You can benefit from visa-free travel to 133 countries and visa-on-arrival to 47.
- The growing real estate market gives non-UAE individuals an opportunity to access high-value investment options.
- Golden Visa holders do not have to pay income tax. Besides, the country has double taxation agreements with several countries. Therefore, you do not have to pay taxes on the same income.
What is needed to get the Golden Visa
The requirements for the UAE Golden Visa vary according to the type of residency being sought:
For investors, the minimum investment required is AED 2 million ( USD 550,000) in the UAE.
- Entrepreneurs need to demonstrate a track record of successful business ventures and a minimum investment of AED 2 million.
- Talented individuals must have a proven track record in their field of expertise, relevant academic qualifications, and endorsements from recognized international organizations.
- Executives, high-skilled professionals, and specialized talents are also eligible for the Golden Visa.
- Applicants must pass background checks and fulfill other general conditions, such as a valid passport and a clean criminal record.
- The criteria may be subject to change over time, as the UAE Golden Visa program is designed to attract exceptional individuals who can contribute to the country’s growth and development.
Get Your UAE Golden Visa Renewed
After you get your UAE Golden Visa, it will be valid for 5 or 10 years. Here is how you can renew your Dubai Golden Visa:
Necessary documents that need to be submitted are listed below:
- A copy of your passport (valid for at least six months.)
- A copy of your Golden Visa
- Emirates ID
- Health insurance
- Certificate of Medical Fitness
- Proof of your current employment.
- Pay the renewal fee, which is around AED 5,000 to AED 10,000.
- Records related to investments or businesses (for investors and entrepreneurs).
- When your renewal is accepted, make sure to update your UAE ID.
Final Thoughts:
To have a long-term residency in Dubai, you need to have a golden visa if you are an investor or an entrepreneur. This visa provides a renewable 10-year residency permit that lets investors live, work, and study in the UAE. The investment can be in one or more properties. It can also include off-plan properties from approved real estate companies.
FAQS
What benefits come with UAE residence through investment?
Getting a UAE residence through investment allows you to live, work, and study anywhere in the UAE. You can also enjoy favorable tax policies and a safe environment.
What’s the minimum investment required for a UAE Residence by Investment?
The investment amount depends on your age and the type of visa you want. Investors aged 55 and older can get a 5-year visa with a minimum real estate investment of AED 1 million. Those of any age can obtain a 10-year visa with an AED 2 million investment.
Can I include my parents in my Golden Visa application?
Yes, Golden Visa holders can sponsor their parents under certain conditions. Your parents must be financially dependent on you. You will also need to provide proof of relationship, medical insurance coverage, and meet specific income requirements set by the UAE authorities.
What happens if my business fails after receiving the Golden Visa?
If your business runs into trouble, you won’t automatically lose your Golden Visa status. However, you must still meet the minimum investment requirements and may need to show alternative qualifying criteria when renewing.
References
https://getgoldenvisa.com/uae-citizenship-by-investment-or-talent#ftoc-what-is-the-uae-golden-visa
https://icp.gov.ae/en/services/golden-residency/
https://www.henleyglobal.com/residence-investment/united-arab-emirates
