Golden Visa in Dubai
Golden Visa in Dubai
A developed economy, excellent infrastructure and first-class real estate make the UAE an attractive place not only for tourism, but also for permanent residence. It is not surprising that many foreigners are interested in how to get a golden visa in the UAE. This long-term residence visa allows you to live in the emirates, using special privileges and rights. If you are planning to get this visa and move to the UAE, then this article will be useful to you. In it, UAE Assets specialists will tell you everything about the Golden Visa and how to obtain it.
UAE Golden Visa: what does it give and why is it needed?
The UAE Golden Resident Visa is a long-term residence visa for up to 10 years, which gives foreigners many opportunities in the UAE. The program is designed to attract foreign investment and talented people to the country. It offers a number of advantages for owners - not only permanent residence and work in the country, but also access to high-quality educational and healthcare systems, and the opportunity to sponsor their family for obtaining a residence permit. Relatively recently, a visa was granted only to those who made a great contribution to the development of the country, were highly qualified in a certain field, or worked in key industries. However, in 2022, the UAE Cabinet announced new executive rules regarding entry permits and long-term residence for foreigners.
The list of criteria for applying for a Golden Visa has been significantly expanded, and the number of people who can apply for Golden Visas in different categories, professions and positions has also increased. For example, one of the innovations was that the amount of investment in real estate for obtaining a Golden Visa has dropped to 2 million UAE dirhams (545 thousand US dollars). The new rules apply not only to real estate investors, but also to students, skilled professionals and consummate talent. Changes to the Golden Visa program have made it easier for foreigners to settle in the UAE and eliminate the need for a local sponsor.
How to get a golden visa in Dubai
At the moment, the Golden Visa is available to several categories of people: real estate investors, entrepreneurs, individuals with outstanding talent, scientists, skilled workers, successful students and graduates, and humanitarian sponsors.
How to get a golden visa in the UAE:
- Real estate investors can obtain a Golden Visa by investing AED 2 million in the UAE real estate market. The new amendments make it possible to use a mortgage loan at a certain local bank. Also, a visa can be obtained when buying local off-plan real estate in the amount of at least 2 million UAE dirhams.
- Entrepreneurs can qualify for the Golden Visa if their company is registered in the UAE and is classified as a small and medium-sized enterprise (SME) with annual revenues of AED 1 million ($272,000). An entrepreneur can also apply for a visa if the individual is the founder or co-founder of a previous business sold for at least AED 7 million (US$1.9 million).
- Exceptional Talents - Individuals with outstanding talent in the arts, culture, sports, medicine, law, digital technology, and innovation may also apply for a Golden Visa. The 10-year visa will be granted regardless of education, employment status, monthly earnings or professional status. All that is required is the recommendation or approval of the federal or local government.
- Scientists, researchers and physicians must meet certain visa requirements. The first is to have a Ph.D. or Master's degree from one of the world's top universities in engineering, technology, life sciences, or natural sciences. Or provide a recommendation from the UAE Council of Scientists. Doctors will also need to submit a letter of permission from the UAE Ministry of Health and Prevention to engage in medical activities.
- Qualified individuals may qualify for the Golden Visa if they meet several conditions: they must have a valid employment contract, a position classified by MOHRE, a salary of at least AED 30,000 ($8,000), or a bachelor's degree.
- Students or pupils who have achieved success in secondary school or universities in the UAE will be able to apply for a visa. Also, graduates of universities included in the list of the hundred best universities in the world have such an opportunity. Academic performance/GPA, year of graduation and university categorization are taken into account.
- Humanitarian pioneers are also eligible for the Golden Visa. Honorary members of prestigious international, regional and public organizations, as well as recipients of awards for humanitarian recognition, well-known humanitarian volunteers and supporters can apply.
What do you need to get a Golden Visa in Dubai? First you need to determine the visa program and contact the UAE Federal Authority for Identification, Citizenship, Customs and Port Security (ICP). In order to apply for a Golden Visa, applicants must provide the relevant documents and be prepared to relocate to the UAE under the relevant conditions.
How much does a Golden Visa cost in Dubai?
A 10-year visa will cost AED 2,800 to 3,800 ($760 to $1,000) for applicants who are currently in the UAE. Applicants outside the UAE will have to pay more - from 3.8 to 4.8 thousand UAE dirhams (from 1 to 1.3 thousand US dollars). An additional fee is added to the state fee for processing an application from abroad. The exact amount is also determined by the category for which the applicant is applying. The immigration authority in the UAE will review the application with the relevant government departments and if denied, the applicant will receive a partial refund. Among other things, the applicant must pay approximately AED 1,000 (approximately $272) for a medical examination and an Emirates ID processing fee. You will also need to take out medical insurance, the cost of which starts from 800 UAE dirhams (from 218 US dollars). For up-to-date information on the UAE Golden Visa, please consult with UAE Assets specialists.