The UAE Golden Visa was implemented in 2019. Since then, the system has generated quite a buzz among expats who wish to secure permanent residency in the Emirates.
The UAE Golden Visa allows people from other countries to reside, work, set up businesses, and study in the UAE without having to partner with a local sponsor. Foreign investors and business owners are also allowed 100% ownership of their business within the UAE. The Golden Visa is issued for 5 to 10 years and is automatically renewed.
In this article, you will learn all about the UAE Golden Visa requirements and Golden Visa UAE price. First, let’s know what the Golden Visa offers.
What Does the UAE Golden Visa Offer?
The UAE Golden Visa offers long-term residency to people who have a high net worth. They must belong to specified groups; investors, entrepreneurs, researchers, medical professionals, educators, and bright students. The motive is to retain the talented people in the country. The main benefit is probably the security. The government is committed to providing some extra benefits to the UAE Golden Visa holders willing to permanently reside in UAE or Dubai.
What are The UAE Golden Visa Requirements?
There are five categories of non-residents who can apply for golden residency in UAE. These include chief executives, entrepreneurs, investors, eminent students, and scientists. Below mentioned are the category-wise 10-year golden visa UAE requirements:
Requirements for Foreign Investors
- The investor must have at least AED 10 million worth of public investment, either in the form of a company or an investment fund.
- A minimum of 60% of the total investment should not be in the form of any property or land.
- The investor must not loan the invested amount. When it comes to assets, the investor can take full ownership. Providing adequate proof is a must.
- The investor should retain the investment for at least 3 years.
- The investor must have health insurance documents for all his/her family members.
You can extend the Golden Visa if you wish to include any business partners. Each partner must contribute up to 10 million AED. The long-term visa can also include the holder’s family, one executive director and one advisor.
Requirements for Entrepreneurs
- Entrepreneurs must have a minimum capital of AED 500,000.
- It is a must to have the approval of an officially recognized business start-up centre in the country.
- A multi-entry visa, renewable for another six months is allowed to the entrepreneurs.
- The long-term visa includes the family, a business partner, and three executives.
- The entrepreneur must have health insurance documents for all his/her family members.
Requirements for Specialists and Students
- The Applicant can be an educator from any one of the top 500 international universities. They must be approved by the ministry of education.
- The Applicant with an award or appreciation certificate in their area of expertise can also apply.
- Scientists who have made significant contributions to an area of study are also eligible to apply for UAE or Dubai Golden Visa.
- If the applicant has 20 years of practical experience in their field of medical expertise, he/she can apply for a Golden visa UAE for doctors.
- High school students with top ranks in the country with a minimum of 95 percent and university students with outstanding academic performance plus remarkable grades on graduating (GPA 3.75 or higher) are eligible for Golden Visa Dubai or UAE.
Requirements for Chief Executives
- The Applicant must have a bachelor’s degree.
- To have experience of at least five years and above is a must.
- Should be earning a salary of 30,000 AED or more in the UAE under a licit job contract.
- The applicant must have health insurance which includes family members.
How to Apply for a UAE Golden Visa?
If you want to apply for UAE golden visa, you must follow the steps mentioned below:
- Start by applying for a nomination. Your application will be reviewed by an authorized government authority within 30 days. You will then receive an email notifying you of the outcome.
- Once your nomination is approved, you will be emailed a link through which you will have to upload the required documents for the visa.
- Your application will be verified by the Federal Authority for Identity and Citizenship. Then you will be issued your Golden visa.
What is the Golden Visa UAE Price?
A five-year UAE Golden Visa will cost you AED 650. AED 150 will be charged for application and AED 500 for issuance. The 10 year Golden Visa UAE will cost you AED 1,150. AED 150 will be charged for application cost and AED 1000 for issuance.
What are UAE Golden Visa Restrictions?
It is not as easy as you might think to get a golden visa in Dubai. It is offered only to investors, entrepreneurs, individuals who bear prominent talents, medical professionals and students with outstanding academic rank. Apart from this, there are other legal requirements and a pile of paperwork. Interested people can apply through an online platform. It is not guaranteed that the application will be approved by the government. A few prominent restrictions to get a UAE Golden Visa are:
- You need an investment worth AED 10 million
- If you are an entrepreneur, you need a minimum capital of AED 500,000.
- If you are a high school student, you must have a minimum of 95%
- If you are a graduate, you must have a minimum GPA of 3.75 or higher.
- You must have health insurance.
- If you are a teacher or educator, you must have approval and a performance certificate from the respective school/university or educational organization.
How to Overcome UAE Golden Visa Restrictions?
The easy way to get a Dubai visa is through company formation in UAE. By registering a company in Dubai, you can easily get a 3-year residency visa. You can also keep renewing your visa every 3 years easily. From company formation to visa application, Shuraa business consultants can help you at every step.
You can register your company in Dubai with DED. The process for opening a company in Dubai is simple. You must apply for a trade license and complete all the legal formalities on time. Company formation cost in Dubai will be approximately around AED 18,500.
Top 10 UAE Golden Visa Benefits
1. Long-Term Residency
Golden Visa holders in the UAE can avail up10 years of residency, allowing them to form a strong foundation for long-term personal and professional development.
2. Property Ownership Rights
The Golden Visa holders can have the privilege of owning a property in the country, enhanced with reduced mortgage fixed-interest rates and affordable financing options.
3. No Sponsor Required
Unlike other UAE visas, Golden Visa does not require a local sponsor. Hence, entrepreneurs and investors can have full control over their business operations and residency decisions.
4. Family Inclusion
The Golden Visa in the UAE allows its holders to sponsor their family members, including spouses, children, domestic helpers, etc. without having to apply for separate visas for each member.
5. Access to Employment and Business Opportunities
Entrepreneurs and individuals have a critical advantage in securing a Golden Visa in Dubai. They can have unparalleled access to employment and business opportunities along with world-class infrastructure and amenities.
6. No Tax on Personal Income
The Golden Visa offers a substantial financial advantage to its holders – Exemption from personal income tax, whether it is income from employment, investments, or any other personal sources.
7. Multiple Entry Visa
After obtaining a long-term residency visa in the UAE, individuals can travel in and out of the country without applying for a new visa each time. It facilitates convenient travel, thereby maintaining connections with other countries.
8. Access to Healthcare
Families with a Golden Visa can avail access to an exceptional healthcare system, numerous treatment options, and a sense of security regarding their health and well-being.
9. Access to Education
Apart from healthcare, the children of the families can also enjoy full access to the country’s top-notch education system and immerse themselves in the diverse network.
10. Esaad Privilege Card
This exclusive card is issued to selected categories of Golden Visa holders, granting them access to various benefits and concessions on cars, property, healthcare, hospitality, and banking services.
Connect With Shuraa
Not only Mohanty but several other Indians have become holders of the Golden Visa since its launch, including two Ayurvedic doctors from Kerala, NRI entrepreneur Vedanta Baruah from Assam, and musician Nikhil Mukhi. In May this year, Bollywood actor Sanjay Dutt was granted the Golden Visa too. You can also apply for a Golden Visa if you are keen to offer a significant investment to the country and wish to build a long-term career in the UAE.
If you fulfill all the eligibility requirements and are willing to apply for a UAE Golden Visa, we suggest you connect with the Exper Legal Advisors at Shuraa Business Setup. They educate, assist and guide you to apply for the golden visa. All you have to do is contact us, schedule a consultancy session and we will take care of the rest.