The Golden Visa residency system offers a long-term residency visa for 5 or 10 years with an automatic renewal option to eligible candidates like entrepreneurs, investors, medical professionals, individuals with outstanding talents, and even outstanding students.
The visa provides individuals with a secure way to live and work in the country without a national sponsor. It also allows the Golden Visa holders to claim 100% ownership of their business on the UAE’s mainland and even sponsor their dependents.
Recently, the Dubai Media Office announced the gifting of the coveted ESAAD privilege card, free of charge for Golden Visa holders.
This article aims to provide a brief insight into the eligibility criteria and benefits of applying for a Golden Visa. Read on to find out more. We list the key eligibility criteria for applying for a Golden Visa in the following section:
What are the eligibility criteria for applying for a Golden Visa?
Investors:
Real estate investors can apply for a Golden visa, also known as the Real Estate Golden Visa if they can fulfill any of the below conditions:
You must own a property that is worth at least AED 2 million.
Purchase an off-plan property investment from any approved local real estate company with a value or equivalent shares in the property of not less than AED 2 million.
Buy a property with a loan from a specific bank.
Entrepreneurs:
Entrepreneurs or investors can obtain a Golden visa with the following eligibility criteria:
Own or partner with a company/start-up registered in the UAE that generates revenue of at least one million.
founded a company that was sold for a total amount of not less than AED 7 million.
Exceptional Talents:
Individuals with specialized qualifications and talents in the fields of culture, art, sports, and technology, regardless of educational qualification, salary, or professional level. The visa requires a recommendation or approval from a federal or government entity.
Scientists, Science researchers:
Researchers or scientists can apply for a Golden visa based on a recommendation from the Emirates Scientists Council.
Individuals must have a Ph.D. or Master’s degree in any discipline—technology, science, engineering, life science, or natural science, along with research achievements in the specific field.
Professionals:
Professionals or highly skilled individuals with high qualifications and experience in all disciplines can apply for a Golden visa if they can fulfill the below conditions:
Valid employment contract, classified at the first or second occupational level as per the Ministry of Human Resources and Emiratisation.
Hold a Bachelor’s degree or equivalent.
Individuals must have a monthly salary of not less than AED 30,000.
Outstanding students and graduates:
Outstanding students having promising scientific capabilities in the UAE’s secondary schools and university graduates from any certified university in the UAE or any of the best 100 universities worldwide can apply for the Golden visa.
Eligibility Criteria: Academic performance, graduation year, and university
Humanitarian Pioneers:
Members of international and regional humanitarian organizations or associations, as well as volunteers or sponsors of humanitarian efforts, can get a Golden visa. Individuals who are recipients of any humanitarian awards are also eligible for the visa.
Frontline Heroes:
Frontline individuals who worked with extraordinary efforts during the crisis, such as COVID-19, are also eligible for a Golden visa.
What are the main benefits of applying for a Golden Visa?
Some of the major benefits of applying for a Golden visa include:
The Golden visa is valid for 5 or 10 years and is renewed automatically.
The applicant will not need 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 the required 6 months.
They will also be able to add their spouse and children in the application as well.
Golden visa holders can sponsor an unlimited number of domestic helpers.
In the event of the death of the original visa holder, family members and dependents will be able to stay in the UAE till the end of their residence permit.
How can I apply for a Golden Visa?
If you intend to apply for the Golden visa, you can get in touch with our experienced experts at Ascent Partners.
Ascent Partners provides bespoke business setup and advisory services for entrepreneurs looking to set up their next venture in Dubai. With services ranging from business consultation and bank account opening to choosing the right business activity and applying for a business licence, our experts help provide essential guidance to help you strategise, startup, and scale in Dubai.
For more details, get in touch with us today at ask@ascentpartners.ae or 04 422 7339.