Understanding the UAE Golden Visa
The UAE Golden Visa has quickly become one of the most coveted documents for expatriates and investors. Essentially, it serves as your gateway to long-term residency in Dubai. Initially, this visa was awarded to individuals who made significant contributions to the nation, possessed exceptional skills in specific fields, or worked in critical industries. However, the application process has evolved, becoming more accessible over the years, and you might be surprised to find that you qualify without even realizing it.
In a recent development, the minimum down payment requirement for property investors has been eliminated, making it even easier to apply for the Golden Visa. Additionally, a new category has been introduced, allowing even more individuals to apply for this valuable residency option.
You might also like: A comprehensive guide to UAE residence and tourist visas. Read on for your essential guide to the Golden Visa, including application procedures and a full list of benefits. For those interested in taking it a step further, discover how to obtain UAE citizenship.
What is a UAE Golden Visa?
Holding a UAE Golden Visa grants you residency for a duration of five to ten years. This residency status is not linked to a specific employer, meaning you won’t have to renew it every two to three years, which is a significant advantage. With a Golden Visa, expatriates can live, work, and study in the UAE without the need for a national sponsor and can enjoy 100% ownership of their business on the UAE’s mainland.
Who is Eligible to Apply for the Golden Visa?
Following updates announced in 2022 under the UAE Residence and Entry Scheme, a wider range of individuals can now apply for a Golden Residence Visa. The following categories of people are eligible:
- Investors
- Entrepreneurs
- Exceptional Talents
- Scientists and Professionals
- Outstanding Students and Graduates
- Humanitarian Pioneers
- Frontline Heroes
- Teachers
1. Investors
If you own property in the UAE, you may qualify for the Golden Visa by purchasing real estate worth at least Dhs2 million. Property investors can apply for the Golden Visa regardless of whether the property is off-plan, completed, or mortgaged. The application process has become even more streamlined, with no minimum down payment requirement for the visa. Moreover, significant public investments, such as a capital deposit of Dhs2 million in a company or tax contributions of Dhs250,000 annually, can also qualify you.
Several banks in the UAE offer the Golden Visa as an incentive for those who deposit Dhs2 million with them, including Abu Dhabi Commercial Bank, Ajman Bank, Al Maryah Community Bank, First Abu Dhabi Bank, and RAKBank.
2. Entrepreneurs
Entrepreneurs can apply for the Golden Visa if they meet one of the following criteria:
- Ownership or partnership in a start-up company registered as a small and medium enterprise (SME) in the UAE, generating annual revenues of at least Dhs1 million.
- Founding an entrepreneurial project sold for over Dhs7 million.
- Approval for a start-up from an official business incubator.
3. Exceptional Talents
Individuals with exceptional talents, including inventors, innovators, and skilled professionals in fields such as culture, art, sports, and digital technology, can apply for the Golden Visa regardless of their educational background or employment status. The application requires a recommendation or approval from a federal or local government entity. Notably, the newly established Creators HQ aims to assist influencers and content creators in obtaining a Golden Visa.
4. Scientists
Scientists and researchers with notable achievements can apply for the Golden Visa, provided they receive a recommendation from the Emirates Scientists Council. Eligible candidates typically hold a PhD or Master’s Degree in engineering, technology, life sciences, or natural sciences from prestigious institutions, along with significant research accomplishments.
Professionals at CEO level or classified as skilled labor by the Ministry of Human Resources and Emiratisation, with a minimum salary of Dhs30,000 per month, are also eligible. Recent changes require that only the basic salary counts toward this threshold.
5. Professionals
Highly skilled professionals with advanced qualifications can also pursue the Golden Visa. This category covers various fields, including medicine, science, engineering, IT, business, education, law, and social sciences. Applicants must have an employment contract in the UAE, be classified in the first or second occupational level by the Ministry of Human Resources and Emiratisation, and earn at least Dhs30,000 per month.
6. Outstanding Students and Graduates
Outstanding students from the UAE’s secondary schools and top universities worldwide are eligible for the Golden Visa. This includes those with a GPA of at least 3.5 from globally recognized institutions or a GPA of 3.8 from accredited UAE universities. High school students with an average of at least 95% are also included, with their families eligible for sponsorship.
7. Humanitarian Pioneers
Individuals who have made significant contributions to humanitarian efforts may qualify for the Golden Visa. Criteria include having worked with international or regional organizations for a minimum of five years or receiving accolades from recognized humanitarian organizations. Other pathways include volunteer service or funding humanitarian initiatives worth at least Dhs2 million.
8. Frontline Heroes
Healthcare professionals and other frontline workers who provided exceptional service during crises such as the COVID-19 pandemic are also eligible for the Golden Visa.
9. Teachers
A new category for educators allows teachers in private early childhood centers, schools, and higher education institutions in Dubai to apply. Eligibility involves demonstrating exceptional academic achievements and contributions to education quality.
How to Apply for a UAE Golden Visa
If you belong to one of the aforementioned categories, you could soon be on your path to obtaining a UAE Golden Visa. To check your eligibility, you can use the UAE government’s eligibility tool. After determining your eligibility, proceed to request a nomination through the Golden Services section of the official website.
Benefits of the Golden Visa
The advantages of holding a Golden Visa extend beyond long-term residency. Here are some key benefits:
1. Extended Residency Rights
The Golden Visa grants up to ten years of residency for you and your dependents, contrasting with the standard residency visa that requires renewal every two to three years.
2. Self-Sponsored Work or Stay
Golden Visa holders can live, work, and study in the UAE without needing to secure local employment, allowing for greater freedom and flexibility.
3. Family Sponsorship
Holders can sponsor family members, including spouses and children, regardless of their age. If the main visa holder passes away, their family can remain in the country until the visa’s natural conclusion.
4. Extended Time Outside the UAE
Golden Visa holders can spend extended periods outside the UAE without affecting their visa validity, unlike standard residency visas that become void after six months abroad.
5. Exclusive Healthcare Packages
In a recent announcement, Golden Visa holders became eligible for special health care and insurance packages starting from just under Dhs2,400, covering claims up to Dhs20 million. These plans offer different levels of coverage and are available for both the visa holders and their dependents.
Duration and Renewal of the UAE Golden Visa
The Golden Visa is valid for five to ten years and is renewable as long as the resident continues to meet the initial eligibility criteria.
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