The UAE is one of the top destinations in the world. For this reason, many foreign investors, professionals, and entrepreneurs look for ways to establish themselves in this country. The UAE government has launched several initiatives to attract talented people to boost the economy. One of the initiatives is the UAE Golden visa.
Since its implementation in 2019, the UAE Golden visa has created quite a buzz among expatriates with plans of securing permanent residency in the UAE. The Dubai golden visa allows foreign nationals to live, study, work, and conduct business in the UAE without requiring a national sponsor. Foreign business owners and investors are allowed 100 percent ownership of their business within the UAE.
The Golden visa system primarily grants investors, entrepreneurs, celebrities, distinguished names, persons with exceptional talents such as researchers, and students a 5 or 10 years long-term residency visa that can be renewed automatically in the UAE. Here is everything you would want to know about the UAE Golden visa.
How to Apply for the UAE Golden Visa?
The golden visa UAE application is quite simple. You can apply for a golden visa through the official website of the Federal Authority for Identity and Citizenship or the General Directorate of Residency and Foreign Affairs. The former has only online channels, whereas the latter has online and offline channels. Follow the steps mentioned below.
1) Download the 'ICA UAE Smart' app.
2) Click on 'Public Services'
3) Select 'Nomination Application for Golden Service'
4) Fill in the data.
5) Attach the required documents.
6) Pay the fee.
How Long Does it Take to Process the UAE Golden Visa?
When you apply for a golden visa in the UAE, the immigration authority checks your application in a few departments. It takes 72 hours to 30 days to process this visa. If your application is approved, the delivery can take up to two working days.
What is the Golden Visa UAE Price?
A 5-year UAE golden visa will cost AED 650. In addition to this, you will be charged AED 150 for application and AED 500 for Issuance. The 10-year UAE golden visa will cost 1150 AED. In addition to this, you will be charged AED 150 for application and AED 1000 for Issuance.
What are the Dubai golden visa Requirements?
The golden visa offers long-term residency to specified groups of people. Below mentioned are category-wise 10-year golden Visa UAE requirements.
Requirements for Foreign Investors
1) The investor must have at least AED 10 million worth of public investment.
2) 60 percent of the total investment should be in the form of property or land.
3) The investor must have full ownership of the assets, providing adequate proof.
4) The investor should retain the investment for at least three years.
5) The investor must have health insurance documents for all family members.
You can extend the golden visa to include any business partner. For this, the partner must contribute around 10 million AED.
Requirements for Entrepreneurs
1) Entrepreneurs must have a minimum capital of AED 500,000.
2) It must have approval from an officially recognized business start-up centre.
3) A multiple-entry visa, renewable for another six months, is allowed for entrepreneurs.
4) The entrepreneur must have health insurance documents for all family members.
Requirements for Students and Specialists
1) The applicant can be an educator from any top 500 international universities approved by the Ministry of Education.
2) Applicants with an award or appreciation certificate in their area of expertise can also apply.
3) Scientists who have made significant contributions to an area of study are eligible to apply for UAE or the Dubai golden visa.
4) Doctors can apply for a golden visa if they have 20 years of practical experience in the medical field.
5) High school students with a minimum of 95 percent marks and university students with outstanding academic performance (GPA 3.75 or higher) are eligible for the Golden visa Dubai or UAE.
6) Coders and Engineers of all nationalities and ages can apply for the golden visa. They can get their visa from the department of artificial intelligence in the UAE government.
Requirements for Chief Executives
1) The applicant must have a bachelor's degree.
2) The applicant must have an experience of a minimum of five years.
3) He/she should be earning a salary of 30,000 AED or more in the UAE under a licit job contract.
4) The applicant must have health insurance for all family members.
How to Overcome UAE Golden Visa Requirements?
The easiest way to get a Dubai visa is through company formation in UAE. By registering a company in Dubai, you can get a 3-year residency visa that you can renew every three years. You can open a company in Dubai in a few simple steps. The first thing to do is register the name of your company in Dubai or anywhere in the UAE with DED. You also need to get a trade license and ensure that all the legal formalities are completed on time. Company formation costs in Dubai will be approximately around AED 18,500.
What are the Benefits of the UAE Golden Visa?
The main benefit of the golden visa would probably be security. The UAE government has made it clear that they are committed to providing expatriates, investors, and everyone wanting to make UAE their home an extra reason to feel secure about their future. Under this scheme, people can live, study, and work in UAE with no undue pressure. Foreign investors have been allowed to extend the visa to business partners, provided they have a stipulated contribution to the investment and get their advisors and executive directors on board with their sponsorship.
The UAE government has launched the golden visa to retain talented people. They will be entitled to discounts and offers on cars, property, health care, hospitality, insurance, and banking services. The UAE has several visa schemes that you can apply for, which include the long term visa UAE, Dubai visit visa, employee visa, resident visa, transit visa, tourist visa, etc.
