WHAT IS DUBAI GOLDEN VISA

The UAE, specifically Dubai, has long surpassed iconic centres like Paris, New York or Miami as the emirate of choice for prominent expatriates. An estimated 4,000+ millionaires left the country last year.

Although there are over 50 visa-free countries for Indians, the UAE and Dubai remain the top destinations for the ultra-wealthy willing to relocate permanently.

The top reasons include modern transport/communications systems, world-class infrastructure, a diverse range of leisure/entertainment options, tax-friendly policies, recognition as a thriving business hub, low crime rates, a safe overall environment, an exceptionally high standard of living and political stability.

The Clinching Attraction?

 

 

 

 

UAE's Golden Visa, commonly called 'Dubai Golden Visa.'

Since 2019, more than 100,000 individuals have been granted their long-term residency permits.

Let's explore what the Dubai Golden Visa is and understand its benefits. We'll also find out Dubai Golden Visa eligibility, Golden Visa Dubai requirements and how to get a Golden Visa in UAE.

What is the UAE Golden Visa?

A long-term residency visa or permission that allows foreign nationals to invest in the UAE, live, work and study with exclusive benefits.

Dubai Golden Visa types: 5-year visas & 10-year visas.

 

Benefits of Golden Visa for UAE

The Golden Visa advantages comprise an entry visa for six months, a 5-10-year valid long-term/renewable residency visa and the privilege of not having a sponsor:

• Can stay outside the UAE for more than 6 months.
• Sponsor family members, spouses and children of all age groups.
• Sponsor as many domestic helpers as you wish.
• If the Golden Visa primary holder passes away, family members can stay in the UAE until the permit ends.

 

Golden Visa UAE Eligibility Criteria

• Investors in public investments, doctors, doctoral degree holders, scientists, inventors/specialists in engineering/science, executives, athletes, cultural/art personalities, outstanding university students and pioneers of humanitarian work are eligible to apply for 10-year visas.
• Entrepreneurs who own economic projects of a technical/future nature based on risks and innovations, real estate investors who own single properties or a group of properties, high school students and national-level toppers are eligible for 5-year visas without sponsors.
• Similarly, frontline heroes such as medical assistants, nurses, lab technicians and pharmacologists are also eligible for Dubai Golden Visas.
• Investors in public investments must be the complete owners (not loans) of the invested capital.
• Real estate investors may show the purchase of properties with loans from particular local banks approved by competent local entities.
• Specialists in engineering/science and executive directors should possess valid work contracts.
• High school students and national-level toppers must have scored at least 95% in public/private secondary schools.
• Universities of outstanding students aspiring for Golden Visas should be A/B rated by the Ministry of Education, and it must not be more than 2 years after graduation.
• Foreign universities should feature in the top 100 universities globally per the Ministry of Education's recognized rating system.
• International students' cumulative GPA must not be less than 3.5, and they should not have graduated more than 2 years ago.
• Pioneers of humanitarian work must have worked for international/regional organizations, civil associations or public interest institutions for 5 years.
• Employees could have received appreciation awards from local/regional/international organizations focusing on humanitarian activities.
• The value of the humanitarian support must not be less than 2 million UAE dirhams or equivalent.

 

Documents Required to Apply for UAE Golden Visa

Some of the essential documents that must be submitted as a part of meeting the Dubai Golden Visa requirement:

Investors in Public Investments:

1] A letter from a UAE-accredited investment fund mentioning the investor has deposited AED 2 million or a valid commercial/industrial license plus a memorandum of association stating the investor capital is not less than AED 2 million.

2] The Federal Tax Authority's letter revealing the investor pays the government AED 250,000/annum or more.

3] Evidence of health insurance for the investor and his/her family (if applicable).

Real Estate Investors:

The land department's letter mentions that the investor owns at least one property valued at not less than 2 million UAE dirhams.

Entrepreneurs:

1] An Approval letter from any UAE auditor certifying the project value at a minimum of 500,000 UAE dirhams.

2] Letter from the emirate authorities describing the project as a technical/future-nature project. 3] Document from any accredited business incubator establishing the proposed activity in the UAE.

Doctors & Scientists:

1] The UAE Ministry of Health & Prevention's approval letter for practicing medicine.

2] The recommendation letter of the Emirates Council of Scientists or the Secretariat of the Mohammed bin Rashid Medal for Scientific Excellence, mentioning the receipt of the Medal of Scientific Excellence.

Inventors:

The Ministry of Economy's recommendation letter stating your patent's value addition to the UAE's economy.

Creative Arts/Cultural Personalities:

The Department of Culture & Arts' approval letter.

Executive Directors:

1] At least a bachelor's university degree copy accredited by the Ministry of Education.

2] 5 years or more experience letter occupying the same designation.

3] A salary certificate revealing a minimum salary of 50,000 UAE dirhams.

4] A legitimate work contract.

Athletes:

The General Sports Authority's or Sports Council's recommendation letter.

 Specialists in Engineering/Science:

The Ministry of Education's accredited copy of a Bachelor's or Master's degree and a detailed work agreement.

High School Students & National-level Toppers:

The Ministry of Education's recommendation letter.

University Students:

The university's recommendation letter, graduation certificate or academic record that mentions a cumulative GPA of at least 3.5 for A-class and 3.8 for B-class institutions.

Foreign University Students:

The Ministry of Education’s accredited graduation certificate.

Frontline Heroes:

A recommendation letter from competent authorities

 

How to Apply for a UAE Golden Visa?

UAE's Federal Authority for Identity, Citizenship, Customs & Port Security (ICP) provides online ‘One Touch’ Golden Visa services that simplify and streamline the application of Dubai Golden Visas. The comprehensive services can be accessed via the ICP portal or the UAEICP App.

The application process starts by creating a new account for first-time users, logging in, selecting the appropriate visa category, filling in personal/professional details, uploading mandatory documents, paying the relevant fees, and then tracking the application status after 14-30 days.

 

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FAQs:

1] What is the Validity Period of the UAE Golden Visa?

Depending on your eligibility, the renewable Dubai Golden Visa stays valid for 5 to 10 years.

2] How Long Does it Take to Get a UAE Golden Visa?

Most Golden Visa applications, including extended verifications, are processed within 15-30 days; however, obtaining the Visa may take up to 2 months.

3] How is the Golden Visa in UAE Different from the Residency Visa?

UAE Standard Visas like Tourist Visas, Visit Visas, Work Visas, Transit Visas and Student Visas are meant for short-term visits from some days to several months. They are available for a majority of international travellers and usually require sponsorships from UAE companies or residents.

Dubai Golden Visas last for the long term, from 5 to 10 years. They are reserved for a select group of high-value, talented individuals and require no sponsorships from UAE nationals.

4] What Happens if My UAE Golden Visa Application is Rejected?

Your UAE Golden Visa application could be rejected due to a number of issues, including application errors and missing documents. Once the application is denied, you must adequately address and rectify the problem areas responsible for the initial rejection and immediately reapply unless specified otherwise.

 

Disclaimer: The above blog is for educational purposes only, and interested Golden Visa applicants must refer to the most up-to-date information on the UAE Government's official website before taking action.