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UAE Golden Visa
What does UAE Golden Visa means?
The UAE/Dubai Golden Visa is a golden opportunity for foreign nationals seeking permanent residency in the United Arab Emirates. Introduced in 2019, this program allows expatriates to live, work, conduct business, and study in Dubai or anywhere in the UAE without the need for a national sponsor. It’s a game-changer for business owners and investors as it permits 100% ownership of their businesses within the UAE. The UAE Golden Visa can be issued for either five or ten years, with automatic renewal options, making it a convenient and attractive choice for those seeking stability and growth.
The Golden Visa UAE program has recently extended its validity to an impressive ten years, a development announced by Mark Dorzi, the Director of Operations at the Abu Dhabi Residents Office. This extension allows individuals to live and work in the Emirate for an entire decade. In addition to this, the program has expanded its categories to welcome a wider range of applicants. Now, senior scholars, clerics, industry experts in the 4th industrial revolution, healthcare professionals, and education specialists are also eligible to apply for this coveted visa. The recent changes have made the Golden Visa UAE program even more appealing, and we are here to provide you with all the essential information you need to make an informed decision.
Benefits of Golden Visa
The advantages of holding a Dubai Golden Visa are numerous and diverse, making it a sought-after choice for foreign residents in Dubai. One of the remarkable benefits is the ability to take a UAE driver’s test without requiring extra lessons if you possess a driving license from one of 32 approved countries, including the US, the UK, Australia, Italy, Saudi Arabia, South Africa, Spain, New Zealand, Qatar, Kuwait, and Ireland. This simplifies the process of obtaining a UAE driver’s license and is a significant perk for expatriates.
For those looking to invest in the Emirate, Golden Visa holders in Abu Dhabi can enjoy exclusive commercial benefits. According to the Abu Dhabi Residents Office, these benefits include discounts and offers on various services such as cars, property, health care, hospitality, health insurance, and banking services.
Real estate enthusiasts will find the Dubai Golden Visa especially appealing. Under the Abu Dhabi Residents Office’s commercial partnerships, Abu Dhabi Golden Visa holders are entitled to discounts on selected properties from developer Imkan Properties. Additionally, leading banks like Abu Dhabi Commercial Bank and First Abu Dhabi Bank offer reduced mortgage fixed-interest rates to Golden Visa investors, further enhancing the appeal of this program.
Health and well-being are also prioritized for Golden Visa holders. They are eligible for reduced premiums on annual health insurance plans for both families and individuals, with extensive network coverage and a range of benefits both within and outside the UAE. In terms of lifestyle, holders enjoy special offers for dining, spa treatments, gym access, and stays at select hospitality destinations in Abu Dhabi. These perks make life in the UAE even more enticing and rewarding.
What Does a Golden Visa UAE Offer?
The UAE Golden Visa program essentially offers long-term residency options, with both five-year and ten-year visa categories. These options cater to a wide range of individuals, including investors, entrepreneurs, exceptional talents like researchers and medical professionals, as well as those in scientific and knowledge fields. Notably, remarkable students in the region’s center for sustainability-focused innovation and technology, Masdar City, are also eligible for the Golden Visa.
The General Directorate of Residency and Foreigners Affairs (GDRFA) in Dubai has recently launched the “You Are Special” service, operating 24/7 to assist Golden Visa holders and other important individuals. This service aims to streamline the visa application process and enhance the overall experience for applicants.
UAE Golden Visa Requirements
Dubai Golden Visa Requirements for 10-Year Visa Eligibility:
Investors
To qualify for a 10-year Golden Visa without a sponsor, your investments in the UAE must amount to at least AED 2 million. These investments can be in the form of UAE-accredited investment funds, a commercial or industrial license as an investor, or ownership of a UAE-based company with a paid-up capital of at least AED 2 million.
Entrepreneurs
Entrepreneurs with a public investment worth no less than AED 10 million are eligible for a 10-year Golden Visa. At least 60% of the total investment must not be in the form of real estate, and the investment amount should not be loaned. Entrepreneurs are required to maintain their investment for a minimum of three years and have the option to extend their 10-year visa to include business partners, provided each partner contributes AED 10 million.
Individuals with Specialized Talents
This category encompasses doctors, researchers, scientists, investors, and artists, who can obtain a 10-year visa. The visa is also extended to their spouses and children.
Coders
Coders of all nationalities and ages can apply for the UAE Golden Visa, facilitated through the Office of Artificial Intelligence in the United Arab Emirates Government or the Federal Authority for Identity and Citizenship. Eligibility extends to distinguished experts and talents in various coding fields and those working for pioneering international technological firms.
Professionals
The category of professionals has expanded to attract highly skilled workers with educational qualifications and professional experience in fields such as healthcare, engineering, science, information technology, business administration, education, law, culture, and social sciences. The applicants must have a valid UAE employment contract, fall into the first or second occupational level, hold a bachelor’s degree or equivalent, and earn a monthly income not less than AED 30,000.
Scientists
The UAE grants the Golden Visa to scientists and researchers with high competency, achievements, and influence in their fields. Applicants must possess a Ph.D. or master’s degree in engineering, technology, life sciences, or natural sciences from top global universities, along with significant research achievements.
UAE Golden Visa Requirements for 5-Year Visa Eligibility:
Real Estate Investors
Anyone who owns properties in the UAE worth AED 2 million or more can apply for a 5-year Golden Visa. These properties should not have any outstanding loans.
Retired Foreigners
Retired foreigners aged 55 and above, who do not meet the criteria for investors or businesspeople, can apply if they have either AED 1 million in investment or a monthly income of AED 15,000.
Entrepreneurs
Entrepreneurs, in this case, should own or be a partner in a startup registered in the UAE in the category of small and medium enterprises, generating annual revenues of less than AED 1 million. Founders of previous entrepreneurial projects with a total value of not less than AED 7 million are also entitled to a Golden Residence. This category allows multi-entry visas for six months, renewable for another six months, and extends to the holder’s family, including a partner and three executives.
Outstanding Students
Exceptional high school and university students are eligible for a 5-year residency visa in the UAE. High school students ranking top in the country and university students with a GPA of 3.75 or higher upon graduation are eligible. The long-term visa also extends to the family of outstanding students.
Application process for a Golden Visa
The application process for a UAE Golden Visa is straightforward and can be completed online through the ICA smart services platform. Here are the steps to follow:
- Access the Website – https://icp.gov.ae/
- Fill Out the Visa Application Form
- Attach the Required Documents
- Review Your Application
- Pay the Visa Fee
If you encounter any issues during the application process, you can download the User Manual for additional guidance.
Golden Visa UAE Processing Time
The Golden Visa UAE processing time is impressively swift, taking approximately 48 hours once all the required documents are submitted. If you apply for a nomination, you will receive an email within 30 days to notify you of the outcome of your application. Upon approval, you will receive a link to upload the required documents for the visa. Within weeks of uploading these documents, your application will be verified through the Federal Authorities for Identity and Citizenship, and you will receive your visa.
For those already residing in the UAE, a temporary one-month visa will be provided. This temporary visa can be converted into a residency permit, allowing you to enjoy the full benefits of your Golden Visa.