UAE Golden Visa
A long-term resident permit known as the UAE Golden visa provides outstanding advantages to foreign nationals who want to live, work, or study in the United Arab Emirates. Investors, business owners, scientists, excellent students and graduates, front-line heroes, and humanitarian pioneers are among those who are eligible for the UAE Golden visa. Learn the digital options to submit your application after learning about the requirements and benefits of the Golden visa.
Cost, Requirements, Benefits & Application Process For UAE Golden Visa
A Golden Visa is a five- or ten-year renewable long-term resident visa. People who are prepared to further establish their reputation and wealth can apply for this special immigration program, which opens doors for them and gives them the opportunity to become residents of the United Arab Emirates and live there permanently with unmatched potential. This article
will cover every aspect of the UAE Golden Visa Program. We’ll go over the benefits of getting a UAE resident permit as well as the prerequisites and application procedure for the Dubai Golden Visa.
Requirements for UAE Golden Visa
There are variations in the prerequisites for different types of residents in the UAE, such as talent, entrepreneurs, investors, and so on, to get a Golden Visa.
Public Sector Investors
If an investor meets one of the following requirements and places their money in an investment fund, they may be eligible for a 10-year Golden Visa without a sponsor:
- A letter verifying a two million AED deposit should be submitted from an investment fund accredited by the UAE.
- Provide a memorandum of association showing a capital investment of at least AED two million together with a valid commercial or industrial license.
- Provide the Federal Tax Authority with a letter certifying that the government receives an annual payment of at least AED 250,000.
Investors in Real Estate
If they fit the following criteria, individuals who own one or more properties may be eligible for a 10-year Golden Visa, which is renewed under the same terms and without the need for a sponsor:
- Provide proof of ownership for any properties valued at least 2 million dirhams (US$545,000) in the form of a letter from the land department of the relevant emirate.
- Buy a house with a 50% down payment and a mortgage from local banks that have been approved by the appropriate local body.
Business owners
If an entrepreneur meets the following requirements and has an economic initiative that is technically or innovatively oriented, they can be granted a 5-year Golden Visa.
- Have a letter of approval from a UAE auditor attesting to the project’s minimum worth of 500,000 dirhams.
- Obtain approval from the relevant emirate’s authorities attesting to the project’s creative or technological nature.
- Get approval from a UAE-approved business incubator to launch the intended endeavor there.
Exceptional Expertise
Professionals with doctorates, scientists, creatives in the arts and culture, inventors, CEOs, scientific specialists, sports, and engineering and science specialists are among the exceptional specialized skills.
The following are the requirements for each subcategory:
Physicians and Researchers
- To practice medicine in the United Arab Emirates, physicians need a letter of approval from the Ministry of Health and Prevention.
· To be eligible for the Medal of Scientific Excellence, scientists must submit a recommendation letter from the Emirates Council of Scientists or the Mohammed bin Rashid Medal for Scientific Excellence Secretariat.
The inventors
Inventors are required to submit a recommendation letter from the Ministry of Economy attesting to the fact that their invention boosts the national economy.
Artists and Culturally Creative Individuals
The Department of Culture and Arts in each emirate shall provide a letter of approval to creative people in the arts and culture.
Chief Executive Officers
Executive directors are required to submit:
- A copy of a degree from an approved university, with a minimum of a bachelor’s degree, as recognized by the Ministry of Education.
- A letter attesting to at least five years of continuous employment in the same role is necessary.
a pay certificate with AED 50,000 listed as the minimum salary. - A legitimate employment agreement.
The athletes
A letter of reference from the General Sports Authority or one of the sports councils is required for athletes.
Experts in science and engineering
In addition to a job contract, specialists are required to submit a copy of a bachelor’s or master’s degree that has been verified by the Ministry of Education.
Outstanding Learners
Students in High School
- High school students can apply for a five-year Golden Visa without a sponsor if they achieve national-level excellence, which is defined as a minimum grade of 95% in either public or private high school.
- The Ministry of Education (Emirates Schools Establishment) must provide a recommendation letter.
- For students, the Golden Visa has a five-year validity period that can be extended if they are enrolled in majors or universities that demand longer study terms.
University Students
If they fulfill the following requirements, deserving university students can apply for a 10-year Golden Visa without a sponsor:
- The Ministry of Education must assign the university an A or B class rating.
- submit an official letter of reference from the university, a certified graduation certificate, or an official academic record with a cumulative GPA of at least 3.5 (3.8 for B class universities) from all A class higher education institutions.
- The time since graduation cannot be more than two years.
Outstanding International University Students
If they fulfill the following requirements, deserving graduates of international universities may apply for a 10-year Golden Visa without the need for a sponsor:
- The university must rank in the top 100 worldwide using a system of evaluation approved by the Ministry of Education.
- Keep your cumulative GPA at least 3.5.
- The time since graduation cannot be more than two years.
- The graduation certificate needs to be accredited by the Ministry of Education.
Leaders in Humanitarian Initiatives
If a humanitarian pioneer fits under any of the following criteria, they can apply for a 10-year Golden Visa:
- Members and exceptional staff who have at least five years of experience working for regional and international organizations.
- Members and exceptional staff who have contributed at least five years to civil groups and public interest organizations.
- people who have been honored with an appreciation award by a national, international, or local organization that specializes in humanitarian activities.
- sponsors of humanitarian initiatives, provided that the assistance is valued at least two million UAE dirhams or equivalent.
The Front Line Heroes
- With a nomination from a qualified authority, frontline heroes who have shown extraordinary efforts during emergencies, such the COVID-19 epidemic, may be eligible for the Golden Visa.
- Nurses, medical assistants, lab technicians, pharmacists, and other cadres certified by the Frontline Heroes Office are examples of frontline heroes.
Benefits of the UAE Golden Visa
- Extended validity: The Golden Visa permits long-term stay in the United Arab Emirates for a period of ten years.
- Self-sponsorship: You can now support yourself without the help of an employment or business.
- The visa does not need to be renewed by visiting the UAE every six months.
- Specialized health care packages
The cost of a UAE Golden Visa
A 10-year Golden Visa would set you back 9,734.75 AED in total. Included in this are the following:
- New visa : 2,657 AED
- DLD Fees: 4,020 AED
- Emirates ID: 1,153 AED
- Medical Check: 700 AED
- Administrative fees : 1,155 AED
How does one apply for a Golden Visa to the United Arab Emirates?
The Federal Authority for Identity and Citizenship—ICA (the eChannel for residency and citizenship) or the General Directorate of Residency and Foreigners Affairs (GDRFA) are the two places where those who want a Golden Visa can apply. GDRFA applications can be submitted both online and offline, whereas ICA applications can only be submitted online.
How much time does it take to get a UAE Golden Visa?
Time of approval: Qualified candidates may be granted a visa in a matter of days, at most a month. The minimum approval period is seventy-two hours.
Additional steps: A medical examination, an Emirates ID, and the stamping of the visa can all be finished in a few days after approval.
Conclusion
Visit or visa on arrival are not comparable to the Golden Visa. It grants the investor’s family the right to remain for an extended period. Most people who wish to live abroad prefer to have permanent residency rather than being here temporarily and leaving every six months. Furthermore, when a family relocates to Dubai, they want to buy a car, rent a house, send their children to school, and do a lot of other connected activities. You cannot do any of them with a visitation visa. Those who wish to remain here for an extended period might apply for the Golden Visa. It facilitates effective tax planning as well.
For a seamless business consulting services in Dubai, consult with Biznet Consulting who can guide you through the process and ensure compliance with all legal requirements.
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