Golden visa in Dubai – How you can obtain one?
Dubai has established itself as a city of opportunities over the years. In fact, it has evolved into the ideal hub for individuals to thrive in with the introduction of Dubai Golden Visa.
The UAE is well-known for its world-class technology and innovative methods adopted to further the economy. With the addition of this newly introduced visa, there’s no doubt that the economy is only going to develop significantly hereon.
Read to find out everything you need to know about golden visas and how to obtain one for yourself and your family.
What is Dubai golden visa?
The UAE has introduced long-term residency visas for certain categories of individuals. The visas are renewable and are valid for 5 or 10 years depending on the kind of golden visa you opt for. Furthermore, the system allows UAE residents and foreigners to get long-term residence visas without the need for a local sponsor. Although the visa can be renewed, it can only be done so on a conditional basis. These categories of individuals include investors, entrepreneurs, specialized talents and others.
The golden visa was introduced to motivate, provide opportunities and retain “talented people and great minds” in the country. This, as a result, will drive the economy to great heights. Moreover, after its launch in 2019, over 400 investors, entrepreneurs and some of their family members have been granted a golden visa in the UAE.
Who can obtain a golden visa in Dubai?
There are certain categories under which individuals can obtain the UAE golden visa. These categories include:
- Investors
- Entrepreneurs
UAE golden visa cost:
If you are eligible, the price for UAE golden visa would be approximately AED 5,000 for investor visa. Additionally, PRO charges will apply to the amount. Charges and years of visa validity may vary depending upon the type of visa applied for.
Benefits of having a UAE golden visa
- Multiple entry permits: Unlike other types of visas where individuals are required to be physically present in the UAE every six months, golden visa holders are exempt from this rule.
- Security: These long-term residence visas give people the safety and assurance of being a resident in the UAE for an extended period of time. They also have the option to renew their visas on conditional terms.
- Extended to dependents: Acquiring a golden visa in Dubai gives the applicants the opportunity to extend the visas to their dependents such as spouse and children.
- Affordable pricing: Compared to the price of obtaining a visa in other countries, golden visas in the UAE are highly affordable.
- Special services: The UAE has come up with an array of benefits and services to the individuals who have golden visas. One such service is the implementation of 24×7 “You are special service” by the General Directorate of Residency and Foreign Affairs (GDRFA) in Dubai. This service aims to assist golden visa holders among others.
How can you be eligible to obtain a golden visa?
10-year golden visa eligibility:
The applicant must have at least one of the below-mentioned requirements:
Investors:
- Required to make a deposit of up to AED 10 million in an investment fund in the UAE.
- Required to be an owner of a company with a minimum of AED 10 million as a capital investment, or partner with a company with a share of up to AED 10 million.
This visa can be extended to business partners, spouse and children as well as one executive director and one advisor.
Conditions:
- The individual would have to meet at least one of the following conditions in order to apply for a golden visa.
- Investment funds made should be completely owned by the individual. Investments made through the use of loans will not be acceptable, and adequate proof must be given.
- The applicant must have retained the investment for at least 3 years.
- The applicant must have insurance documents for themselves and their dependents.
- The visa can also be obtained by specialized talents such as scientists, specialists, doctors, coders, and creative individuals in the field of culture and art.
5-year golden visa eligibility:
The applicant must have at least one of the below-mentioned requirements:
Investors:
- Should have invested in a property of no less than AED 5 million.
- The invested amount cannot be paid on a loan basis.
- The property must be in possession for at least three years.
Entrepreneurs:
- Should have an existing project of AED 500,000.
- Must be approved as an accredited business incubator in the country.
Conditions: (applicable only to investors)
- The individual would have to meet at least one of the following conditions in order to apply for a golden visa.
- The applicant’s existing project must be in a field certified in the UAE.
- Applicant must be recognized as a founder of the project.
- The applicant’s business incubator must support other enterprises and start ups by providing relevant resources and services. Additionally, the enterprise needs to have relevant certification.
- Applicant must have health insurance for themselves and their family members.
This visa can also be obtained by outstanding students with a minimum grade of 95%. Additionally, the golden visa is extended to the family of the student.
What is the process of golden visa application in the UAE?
In order to obtain your Golden Visa in the UAE, you will be required to partake in the following steps:
- Apply for golden visa nomination. You will need to submit a profile of your accomplishments.
- Submission of all required documents. These documents include:
- Passport copy
- Visa copy
- Emirates ID
- Passport photo
- Trade license
- Memorandum of Association
- Audit report
- Auditor license and certificate
- Bank statement
- Title deed (AED 2 million)
- Ejari
- Health Insurance
Changes may apply to the required documents depending on the category you fall under. In addition, the applicant should also be willing to relocate to the UAE.
3. Once approved, the individual will be issued the golden visa
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