What is a Golden visa and who can obtain it?
The Golden Visa is a long-term residency visa that enables foreign talents to live and work or study in the UAE for up to 10 years. This golden residency scheme is renewable and reserved for certain categories ranging from investors to individuals with exceptional talents.
Golden residency is one of the offerings supplied via way of means of the Federal Authority for Identity, Citizenship, Customs, and Ports Security. Under this provider, those who meet the conditions can apply for a long-time period residency for a length of 5 or 10 years. This new opportunity withinside the U.A.E. lets residents, overseas expatriates, and their households return back to work, stay and take a look at withinside the UAE, and have the opportunity of taking part in a long-time period residency without the want for a sponsor withinside the UAE, and it’s far mechanically renewed.
Furthermore, this opportunity complements the surroundings that helps commercial enterprise increase fulfillment withinside the UAE. As a part of the Authority’s keenness to aid the golden residency visa, the long-time period residency visa opportunity has been activated via way of means of a selection of the Council of Ministers, which goals to draw the investor who invests his cash withinside the UAE, the entrepreneur who runs a financial project, and the gifted or professional person, or the chief in distinctive fields of science, understanding or sports.
As well as the splendid college students who graduated from excessive college or from permitted universities withinside the UAE with a GPA of 3.8 or more, and all Ph.D. holders, medical doctors, and engineers withinside the fields of pc engineering, electronics, programming, power and biotechnology, and people who maintain specialized tiers in artificial intelligence, huge records or epidemiology, and viruses.
The Authority follows nice practices and innovations and seeks to enhance and expand its offerings as the primary pillar upon which all its improvement tasks are based. The Authority keeps illustrating its development via way of means of offering prominent offerings to everybody who needs to live withinside the UAE and to deliver their households to be everlasting companions withinside the improvement and increase technique withinside the UAE.
It provides, via its website www.icp.gov.ae and its clever software “ICA UAE Smart”, all records and statistics associated with the provider and a manual to the approaches for making use of golden residency, and the applicant can achieve the nomination provider for golden residency in easy and smooth steps. The technique starts via way of means of filing the software via the Authority’s clever platforms, filling withinside the records, attaching the desired documents, and paying the provider charges in a stable digital way.
Benefits of Golden visa
Below, I would like to share with you some benefits of a Golden visa you can obtain once qualified.
- an entry visa for six months with multiple entries to proceed with residence issuance
- a long-term, renewable residence visa valid for 5 or 10 years
- the privilege of not needing a sponsor
- the ability to stay outside the UAE for more than the usual period of six months in order to keep their residence visa valid
- the ability to sponsor their family members, including spouses and children regardless of their ages
- the ability to sponsor an unlimited number of domestic helpers
- the permit for family members to stay in the UAE until the end of their permit duration if the primary holder of the Golden visa passes away.
Read more about different types of visas in the UAE here.
Additional advantages of the Golden visa
Driving license without passing tests
As stated by the Authorities, foreign residents in Dubai who have a Golden visa and a driving license from their home country can now take a UAE driver’s test without needing extra lessons.
Additionally, if the golden visa holders have a license from one of 32 approved countries, including the US, the UK, Australia, Italy, Saudi Arabia, South Africa, Spain, New Zealand, Qatar, Kuwait, and Ireland, they will automatically be eligible for a UAE driver’s license.
Discounts for students
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has announced that a 10-year residency Golden Visa will be granted to outstanding expatriate students and their families in Dubai. They will also be given discounts to pursue their higher education in international university branches in Dubai.
Esaad privilege card
The Dubai Media Office has announced that Golden Visa holders in Dubai will be gifted the coveted Esaad privilege card. The card will be provided free of charge to holders of 5-year and 10-year Golden Visas in Dubai.
Golden Visa UAE price for individuals
The cost of the UAE Golden Visa largely depends on the type of service and visa category. For individuals applying from the UAE, the Golden Visa will cost between AED 2,800 and AED 3,800. Those applying outside the country will be charged anywhere between AED 3,800 and AED 4,800.
The applicant will also need to spend approximately Dh1,000 for a medical examination and a processing charge for an Emirates ID. Additionally, they will need to purchase UAE health insurance, which starts at Dh800 and varies in cost.
Golden Visa UAE price for Investors
There are two types of Golden visas for Investors. And the main difference is in the degree of investment risk.
Ten-year Golden Visa for investment in Real Estate
For this visa, you should buy a real estate property of a minimal value of AED 2,000,000 without a mortgage. Then you should maintain the investment for at least two years after issuing the Golden Visa.
If you buy a property worth more than AED 2,000,000, a mortgage is permitted for real estate property. But the value of your capital needs to be at least AED 2,000,000: if a property is worth AED 5,000,000, you should pay AED 2,000,000 of your own money, and the maximum amount of mortgage is AED 3,000,000.
Ten-year Golden Visa for investment in a Business
To apply for this visa, you should invest at least AED 2,000,000 in the company, share in the company, or put it in a deposit. Additional conditions include maintaining the investment for at least two years after obtaining a Golden Visa. Additionally, you should prove that you paid taxes for AED 250,000 annually for the last two years.
A significant part of the costs is the number of investments. In both cases, it should be no less than AED 2,000,000, or about $544,500. But here are the associated costs:
• $1,000 + per person – translation and notarization of documents, $400+ per person – medical insurance,
• AED 750 per person or about $205 – medical test,
• AED 3860 per person or about $1,043 – administrative fee for visa and card of UAE resident.
If you choose to buy real estate, you should also pay a registration fee of AED 160,000 or about $44,850.
In addition to fulfillment of program conditions, an Investor should meet these requirements:
• older than 18 years
• have no criminal records
• have no socially dangerous sicknesses, such as HIV.
And also, an investor should have a legal income.
Golden visa requirements
Requirements for the Golden visa rely upon the form of residence, whether or not investor, talent, entrepreneur, etc.
Investors in public investments
If you spend money on a funding fund, you will be granted a Golden Visa for a length of 10 years without a sponsor, subject to the:
- submission of a letter from a funding fund accepted withinside the UAE pointing out that the investor has a deposit of 1 AED million, or
- submission of a legitimate industrial license or business license and a memorandum of affiliation pointing out that the investor’s capital isn’t much less than 1 AED million
- submission of a letter from the Federal Tax Authority pointing out that the investor can pay the authorities no much less than AED 150,000 (hundred and fifty thousand) annually.
Additionally, you should:
- own the invested capital completely; it should now no longer be a mortgage and
- offer evidence of medical health insurance for himself and his family (if any).
Real property investors
If you own belongings or a collection of homes, you will be granted a Golden visa for a length of five or ten years, renewable at equal situations and without a sponsor subject to the:
- provision of a letter from the land branch of the respective emirate pointing out that he owns one or greater homes whose fee isn’t much less than 2 million dirhams
- buy a property with a mortgage from precise nearby banks accredited through the equipped nearby entity, considering 2 million dirhams as own capital and the 3 million dirhams as maximum could be a mortgage.
If you’re an entrepreneur, you can get a Golden visa for a length of five years, in case you own a monetary task of a technical or destiny nature primarily based totally on risk & innovation. In addition, you should have an approval letter from every of the subsequent:
- an auditor withinside the UAE pointing out that the task fee isn’t much less than 500,000 dirhams
- the government withinside the emirate pointing out that the task is of a technical or destiny nature
- an accepted commercial enterprise incubator withinside the UAE to set up the proposed interest withinside the UAE.
Outstanding specialized capabilities
Outstanding specialized capabilities consist of:
- innovative human beings of culture and art
- experts in clinical fields
- doctoral diploma holders and
- experts withinside the fields of engineering and technological know-how.
Subjects regarding engineering and technological know-how consist of:
- epidemiology and viruses
- artificial intelligence
- huge data
- computer engineering
- digital engineering
- software program engineering
- electrical engineering
- genetics and biotechnology engineering.
If you’ve got an extremely good specialized talent, you can get a Golden visa for 10 years after assembly of the requirements cited beneath for every category.
Doctors and scientists
- an approval Letter from the Ministry of Health and Prevention withinside the UAE to exercise the career of medicine (for doctors)
- a letter of advice from the Emirates Council of Scientists or a letter from the Secretariat of the Mohammed bin Rashid Medal for Scientific Excellence pointing out that the applicant has been provided the Medal of Scientific Excellence (for scientists).
- an advice letter from the Ministry of Economy pointing out that your patent has an introduced fee to the UAE economy
Creative human beings withinside the fields of culture and art
- an approval letter from the branch of culture and humanities withinside the respective emirate.
- Apply for an innovative proficient accreditation (cultural visa) – Dubai Culture
- Get an endorsement certificate for innovative human beings – Abu Dhabi Department of Culture and Tourism
- Get an advice letter for golden visa request – Ministry of Culture and Youth
- a copy of a college diploma attested through the Ministry of Education with academic attainment now no less than a bachelor’s diploma
- a letter of experience of no much less than five years protecting the equal position
- a profits certificate with a profit of AED 50,000 at least
- a legitimate work contract.
- an advice letter from the General Sports Authority or one of the sports activities councils
Specialists in engineering and technological know-how
- a copy of a Bachelor’s or a Master’s diploma licensed through the Ministry of Education and a piece contract.
High school students
If you’re an excessive faculty pupil and a national-degree topper, (with a minimum grade of ninety-five in step with a cent in public or personal secondary faculty) you will be granted a Golden visa for five years without a sponsor, situation to subject of an advice letter from Ministry of Education (Emirates Schools Establishment). The duration of the Golden visa for college students is five years and can be prolonged if he/she is enrolled in one of the majors/faculties withinside the UAE that calls for a take look at a length of greater than 5 years.
If you’re an extremely good college pupil, you will be granted a Golden visa for a length of 10 years without a sponsor, furnished that:
- the college should be rated both A or B elegance through the Ministry of Education
- an advice letter from the college or an accepted commencement certificate or an accepted instructional document pointing out that the pupil’s cumulative GPA isn’t much less than 3.5 for A-class universities and 3.8 for B-class universities is submitted. It has now no longer been greater than 2 years since you graduated.
Outstanding college students of overseas universities can be granted a Golden visa for a length of 10 years without a sponsor, furnished that:
- The college is rated among many of the high-quality one hundred universities worldwide consistent with the scoring device diagnosed through the Ministry of Education
- The pupil’s cumulative GPA isn’t much less than 3.5
- It has now no longer been greater than 2 years since you graduated
- Graduation certificates are accepted through the Ministry of Education
Pioneers of humanitarian work
If you’re a pioneer of humanitarian work, you can get a Golden visa for 10 years. You should be one among the subsequent classes to qualify as a pioneer of humanitarian work:
- contributors and extremely good personnel who’ve labored for worldwide and local enterprises for at least 5 years
- contributors and extremely good personnel who’ve labored for civil institutions and establishments of public interest for at least 5 years
- a person who’s acquired an appreciation award from a nearby, local, or worldwide enterprise that specializes in humanitarian work
- funders of humanitarian work furnished that the fee of the aid does now no longer fall beneath 1 million UAE dirhams or its equivalent.
Frontline heroes who displayed excellent attempts in crises, including the COVID-19 pandemic additionally might also additionally get the Golden visa with advice from an equipped authority. Frontline heroes consist of nurses, clinical assistants, lab technicians, pharmacologists, and different cadres accredited through the Frontline Heroes Office.
How to apply for a Golden Visa UAE through GDRFA?
Eligible applicants to apply for the Golden Visa using the GDRFA website, by following the steps given below:
- Visit the GDRFA- Dubai website
- Select the required service
- Fill out the Visa application form
- Attach the required documents, and pay the required fees
- Submit the Visa application
Apart from this, eligible applicants can also apply for the Golden Visa using the GDRFA – Dubai Smart Application, by following the steps given below:
- Download the GDRFA-Dubai application (iOS, Android)
- Applicants who do not have a registered account must register a new user account
- Select the required service
- Attach the required documents, and pay the required fees
- Submit the Visa request
Please note that eligible candidates can also apply for UAE’s Golden Visa through different business set-up companies, like Masar Al Ameen. Masar Al Ameen Business consists of a Team of Experts that are dealing with visas, residencies, as well as Real Estate, and investments in properties in Dubai. Just drop them a line to ask for a free consultation!