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All You Need to Know About the UAE Golden Visa
Introduction
The United Arab Emirates (UAE) Golden Visa program is a significant initiative aimed at attracting exceptional talent and investment into the country. Launched in 2019, this program offers long-term residency to foreign nationals, providing them with an array of benefits and opportunities. In this article, we will explore everything you need to know about the UAE Golden Visa, including its eligibility criteria, benefits, application process, and its impact on the UAE economy.
What is the UAE Golden Visa?
The UAE Golden Visa is a long-term residency visa introduced by the UAE government to attract investors, entrepreneurs, specialized talents, researchers, and outstanding students. Unlike standard visas, which are typically short-term, the Golden Visa allows recipients to live, work, and study in the UAE for extended periods, with options for 5 or 10-year renewable visas.
Eligibility Criteria
⚫️ Investors - Investors in the UAE can apply for a Golden Visa under specific conditions:
1. Public Investments: An investor can obtain a 10-year visa by investing at least AED 10 million in public investments. This can be in the form of an investment fund or establishing a company in the UAE.
2. Real Estate: A 5-year visa can be granted to investors who purchase property worth at least AED 5 million. The property must be retained for at least three years.
3. Entrepreneurs: Entrepreneurs who own a project in the UAE with a minimum capital of AED 500,000 or those who are approved by an accredited business incubator can apply for a 5-year visa.
Addition to the qualifying requirements for the golden visa, real estate investors must fulfill a few more conditions such as confirming the ownership of the property by providing a letter from the land department of the respective emirate confirming ownership of one or more properties valued at no less than AED2 Million ($545,000). Alternatively, investors can acquire a property through a loan from specific local banks endorsed by the competent local entity.
⚫️ Specialized Talents - The UAE Golden Visa is also available to individuals with specialized talents, including:
1. Doctors and Scientists: Must be accredited by UAE scientific councils or holders of prestigious awards.
2. Creative Professionals: Individuals in fields like culture and art with recognition from relevant government bodies.
3. Executives: High-ranking executives with a proven track record in their field.
4. Outstanding Students: Outstanding students who have achieved high academic excellence can also be granted a Golden Visa:
⚫️ High School Students: Must have a minimum grade of 95% in public or private secondary schools.
⚫️ University Students: Must have a GPA of 3.75 or higher from universities within or outside the UAE.
Benefits of the UAE Golden Visa
The UAE Golden Visa offers numerous benefits to its holders:
1. Long-Term Residency: Visa holders can reside in the UAE for 5 or 10 years, with automatic renewal.
2. Stability and Security: Provides a sense of stability and security, encouraging long-term planning and investment in the UAE.
3. Business Opportunities: Facilitates business operations and investment opportunities within the UAE's thriving economy.
4. Family Sponsorship: Visa holders can sponsor their family members, including spouse, children, and parents, for the same duration as their visa.
5. No Emirati Sponsor Required: Eliminates the need for an Emirati sponsor, offering more autonomy and freedom for expatriates.
6. Access to World-Class Healthcare & Education: Get access to a comprehensive, government-funded health service and a rapidly developing private health sector.
Application Process - The application process for the UAE Golden Visa is straightforward:
1. Prepare Required Documents: Gather all necessary documents, including passport copies, proof of investment or academic credentials, and any relevant certificates.
2. Submit Application: Applications can be submitted through the Federal Authority for Identity and Citizenship (ICA) or the Dubai Corporation for Tourism and Commerce Marketing (DCTCM) portals.
3. Verification and Approval: The submitted documents will be reviewed by the relevant authorities. Additional information or interviews may be requested.
4. Issuance of Visa: Upon approval, the Golden Visa will be issued, allowing the recipient to enjoy long-term residency in the UAE.
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