The UAE Golden Visa was implemented in 2019. Since then, the system has generated quite a buzz among expats who wish to get permanent residency in the Emirates. The UAE Golden Visa permits foreign nationals to reside, work, start businesses, and study in the UAE without needing a local sponsor. It allows the foreign investors and business owners to have 100% ownership of their businesses within the UAE. The Golden Visa is valid for 5 to 10 years and is automatically renewable.
This article will teach you about the UAE Golden Visa requirements and Golden Visa UAE price. First, let’s know what the Golden Visa offers.
What is the UAE Golden Visa?
A UAE golden visa helps foreign citizens live in the UAE for a long time. Considering your needs you can apply for different types of visas which are mentioned below:
With the UAE Golden Visa, you can get a residence permit for 5-10 years. This is great for people who want to make the UAE their home without having to renew their visa often. To get the Golden Visa, you need to meet the requirements set by the UAE authorities. But remember Only those who qualify can apply.
What Does the UAE Golden Visa Offer?
The UAE Golden Visa offers long-term residency to people with a high net worth. They must be investors, entrepreneurs, researchers, medical professionals, educators, or outstanding students.
The motive is to get talented people in the country. The main benefit is security. The government is committed to providing some extra benefits to UAE Golden Visa holders who are willing to permanently reside in the UAE or Dubai.
What is The UAE Golden Visa Requirements?
Five categories of non-residents can apply for UAE golden residency: chief executives, entrepreneurs, investors, eminent students, and scientists. Below 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 in 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. Investors can have full ownership of their assets. Providing adequate proof is a must.
- The investor must retain the investment for at least 3 years.
You can extend the Golden Visa to include any business partners. Each partner must contribute up to 10 million AED. The long-term visa can 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 recognised business start-up centre in the country.
- A multi-entry visa, renewable for another six months, is allowed for entrepreneurs.
- The entrepreneur must provide health insurance for all family members.
Requirements for Specialists and Students
- The Applicant can be an educator from the top 500 international universities. The Ministry must approve them of education.
- Scientists who have contributed significantly to an area of study are also eligible to apply for a UAE or Dubai Golden Visa.
- If the applicant has 20 years of practical experience in their medical expertise, he/she can apply for a Golden visa for doctors in the UAE.
Requirements for Chief Executives
- The Applicant must have a bachelor’s degree.
- Having at least five years of experience is a must.
- You should earn a salary of 30,000 AED or more in the UAE under a licit job contract.
- The applicant must have health insurance, including family members.
How to apply for a UAE Golden Visa?
For applying for UAE golden visa, you must follow the steps mentioned below:
- Start by applying for a nomination. Your application will be reviewed by an authorised government authority within 30 days. After it you will receive an email notifying you of the outcome.
- Once the nomination is approved. Then after it you will get a link via email which you will have to upload the required documents for the visa.
- The Federal Authority for Identity and Citizenship will verify your application before issuing your Golden Visa.
What is the Golden Visa UAE Price?
A ten-year UAE Golden Visa will cost you AED 11,000 once you have real estate investment in the UAE of 2 million AED or more.
What is UAE Golden Visa Restrictions?
It is not as easy to get a golden visa in Dubai. It is offered only to investors, entrepreneurs, individuals with prominent talents, medical professionals and students with outstanding academic rank.
Apart from this, there are other legal requirements and paperwork. Interested people can apply through an online platform. It is not guaranteed that the government will approve the application. A few prominent restrictions to get a UAE Golden Visa are:
- You need an investment worth AED 10 million
- As 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 organisation.
How to Overcome UAE Golden Visa Restrictions?
The easy way to get a Dubai visa is through company formation in the UAE. Registering a company in Dubai allows you to 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 promptly complete all the legal formalities. Company formation costs in Dubai will be approximately AED 18,500.
Top 10 UAE Golden Visa Benefits
1. Long-Term Residency
Golden Visa holders in the UAE can avail themselves of up to 10 years of residency, allowing them to form a strong foundation for long-term personal and professional development.
2. Property Ownership Rights
Golden Visa holders can enjoy the privilege of owning a property in the country, enhanced by 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 fully control their business operations and residency decisions.
3. Family Inclusion
The UAE's Golden Visa allows holders to sponsor their family members, including spouses, children, domestic helpers, etc., without applying for separate visas for each member.
4. 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.
5. 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.
6. 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.
7. Access to Healthcare
Families with a Golden Visa can access an exceptional healthcare system, numerous treatment options, and a sense of security regarding their health and well-being.
8. 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.
9. Esaad Privilege Card
This exclusive card is issued to selected Golden Visa holders, granting them access to various benefits and concessions on cars, property, healthcare, hospitality, and banking services.
Connect With Shuraa
Mohanty and 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 of 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 fulfil 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 in applying for the golden visa. All you have to do is contact us, schedule a consultancy session and we will take care of the rest.
