Announced in 2019, the Golden Visa is a long-term residency programme that enables eligible candidates to live, work, and study in the UAE.
The Golden Visa system offers a long-term residency to eligible individuals from groups including investors, entrepreneurs, individual with outstanding talents, medical professionals and other eligible individuals within the scientific and knowledge fields and outstanding students.
The Golden Visa provides expatriates, investors, and all eligible individuals with a secure medium to live and work within the country without the need for a sponsor. Moreover, Golden Visa holders can claim 100% ownership of their business on UAE’s mainland and also sponsor their dependents.
A Golden Visa can be issued for a period of 5 or 10 years. It is renewed automatically.
What is the eligibility criteria for applying for a Golden Visa?
Investors applying for a 10-year visa:
Investors applying for a 5-year visa:
- Those applying for a 10-year visa will have to have investments in the UAE amounting to at least 2 million; these could be in the form of investment funds accredited in the UAE or through a commercial licence of an investor which has an MOA stating that the paid-up capital of the investor/company is not less than AED 2 million.
- An investor who owns a company in the UAE and pays tax of at least AED 250,000 to the FTA will also be able to apply for the 10-year Golden Visa. Senior employees appointed by an investor in public investments, such as Executive Director or an Advisor, will also be eligible to apply for a Golden Visa.
Other eligible categories:
- An individual owning properties worth AED 2 million or more in the UAE will be eligible to apply for a 5-year Golden Visa. (A 5-year visa is also referred to as Real Estate Golden Visa and the main criteria is a property investment where the value of the property or equivalent shares in the property is more than 2 million AED).
- Under this category, it is recommended that the property is not mortgaged; however, an exception could be made in the case where at least half of the loan is paid, and an NOC is granted by the financing institution where it is mortgaged to.
What are the main benefits of applying for a Golden Visa?
- Individuals who do not belong to the investors or businessmen criteria, as mentioned above, but have an investment of AED 1 million or an income of AED 15,000 per month and those who meet the minimum age requirement will also be eligible to apply for the Golden Visa.
- Holders of the specialized qualifications and researchers in different scientific and knowledge areas such as Doctors, Scientists, Creators, Intellectuals and Artists, Inventors, Executive Managers, Athletes, Engineers.
- Genius students of promising scientific capabilities, university graduates from any certified university in the state with a degree of 3.8 and higher (Bachelor or Master’s degree).
How can I apply for the Golden Visa?
- The Golden Visa is valid for a period of 5 or 10 years and is renewed automatically
- The applicant will not require a sponsor to apply for the visa
- The limitation period to stay outside the UAE does not apply to Golden Visa holders; this means that Golden Visa holders will be able to stay outside the country for more than 6 months
- Golden Visa holders will also be able to include their spouse and children in the application as well
- There is no maximum limit to apply for work permits/visas for domestic workers
- In the event of the death of the original visa holder, the family members and dependents will be able to stay in the UAE till the end of their residence permit
If you intend to apply for the Golden Visa, you can get in touch with our experts at Ascent Partners. With over 70+ years of collective experience in the industry, we provide the highest quality of services and ensure to work alongside you to ensure a seamless experience.
For bespoke solutions for your business, investment, and visa application needs, get in touch with us today!
Email us at email@example.com or give us a call at 04 422 7339 to get your Golden Visa today!