A Detailed Guide on What Is UAE Golden Visa

The United Arab Emirates (UAE) is working on launching 50 new initiatives that will boost the country's competitiveness and improve industrial development. Few of these projects include technology-based works that hope to attract residents and skilled workers from foreign countries. For this, the Government is focusing on creating new visa categories. One such category is the 'Golden' visa system. 

Wondering What is the UAE’s Golden visa? Read along!

In 2019, the United Arab Emirates launched a new visa system for long-term visa holders. This is known as a Golden visa. This Golden Visa allows foreigners to live, work and study in the United Arab Emirates.

The 2019 amendment hopes to attract new foreign residents, especially to Dubai. Read on to learn about the eligibility criteria and advantages of the UAE Golden Visa.

Here is a list of individuals eligible (as per the UAE Cabinet Resolution) to apply for a UAE golden visa,

• Inventors
• Entrepreneurs
• Researchers and specialised talents in different fields of science and knowledge  (doctors, researchers, scientists, investors and artists)
• Highly talented students with promising scientific capacities (high school and university students)

1. Requirements for Foreign Investors

• For a 10 year visa, individuals with public investment worth at least AED 10 million (in the form of either an investment fund or a company) can apply for this visa.
• The Government will extend a 10-year visa to business partners (each) who contribute AED 10 million.
• On the other hand, individuals with at least AED 5 million can apply for a 5-year visa.
• Individuals should keep the amount invested for 3 years and must not loan it.
• In the case of assets, individuals must have full ownership. In addition, 60% of the fund must not be in the real estate arena.
• The long-term UAE golden visa includes the holder's spouse, children, one chief executive director and an advisor.

2. Requirements for Individuals With Specialised Talent

• Individuals with specialised talents can apply for a 10-year UAE golden visa. They will obtain the visa only after they are granted accreditations by their respective departments and fields.
• Scientists must have accreditation by the Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence. Creative individuals must have accreditation in culture and art by the Ministry of Culture and Knowledge Development.
• Applicants must be an educator from any of the 500 international universities approved by the ministry of education.
• Doctors must have medical practitioner experience of 20 years in their field of expertise.
• Spouses and children of those individuals will get this visa as well.
  

3. Requirements for Real Estate Investors

• The requirements for real estate investors are similar to that of general investors. However, they can apply for a 5-year visa and must make an investment of AED 5 million.
  

4. Requirements for Students and Specialists

• Outstanding students must have at least a grade of 95% in private and public secondary schools.
• Further, university students (inside and outside of the country) must have a distinction GPA of a minimum of 3.75 upon graduation.

5. Requirements for Entrepreneurs

• Individuals who have an existing project of at least a capital of AED 500,000 (₹1,02,09,463) or have the approval of an authorised business incubator in the country can apply for UAE golden visa.

6. Requirements for Chief Executives

• Applicants must have a bachelor's degree and an experience of 5 years or above.
• They must earn a salary of 30,000 AED or more in the UAE under a legitimate job contract.

7. Requirements for Families

The UAE golden visa also covers the families of the applicants.

Individuals can apply for Federal Authority for Identity and Citizenship — ICA (the eChannel for residency and citizenship) or the General Directorate of Residency and Foreigners Affairs (GDRFA).

ICA allows online applications only. On the other hand, GDRFA enables both online and offline applications. Follow the steps mentioned below to complete UAE golden visa.

Step 1 – Visit the official website of ICA.

Step 2 – Select 'Golden Visa' under 'Public Services'. Then select 'Visa to Finalise the Procedures of Golden Residency'.

Step 3 – Provide required information and submit documents. 

Step 4 – Pay service charge. Individuals have to wait for approval, after which they can successfully complete the application procedure. 

Note: In case applicants are coming from outside of UAE, the ICA will have an entry permit (that has a validity of 6 months) and can be extended for another 6 months to complete the process of availing golden residency in the country.

Step 1 – Visit the official website of the GDRFA Dubai website.

Step 2 – Select the Golden Visa form service list. Next, select 'Investor Residency Visa (Golden Visa)'.

Step 3 – Select 'Start Service' and log in. Provide essential information and submit necessary documents.  

Step 4 – Pay service charge. The respective authority will review the application and notify applicants of the next steps.

If you wish to apply through the offline mode, visit the licensed typing centres. Here, the professionals can type and process your visa application through the GDRFA of the respective emirate. If it is approved, you will receive a message regarding approval and the original entry permit.

The costs of a 5 year and 10 years UAE golden visa are AED 650 and AED 1,150 (approx.) respectively.

Now that individuals know about who can get a golden visa in UAE, i.e. its definition, eligibility, application procedure and other important things, let us see what are the features and benefits of having a Golden Visa.

Below are discussed the unique features and associated benefits of the UAE Golden Visa,

• Golden Visa allows foreign nationals to live, study, work and conduct business in the UAE region.
• With a UAE golden visa, applicants can get 100% ownership of their business.
• Apart from being an entry visa for six months, it allows multiple entries and an issuance of residency permits.
• It also allows the residents to sponsor their family members, including spouses and children of any age. 

With such a detailed discussion, you can conclude your search on What is UAE Golden visa. Read the eligibility requirements carefully to successfully complete the UAE Golden visa application.