The United Arab Emirates’s Golden Visa will officially be enforced in September 2022, according to UAE’s Federal Authority for Identity, Citizenship, Customs, and Ports Security (ICA).
Are you planning for big things in Dubai and other Middle Eastern areas? Here is a complete overview of everything you need to know about UAE’s Golden Visa.
What is UAE’s Golden Visa?
The United Arab Emirates’s Golden Visa is a long-term residency visa which enables foreign talents to live, work or study in the UAE while enjoying exclusive benefits such as:
- an entry visa for 6 months with multiple entries
- a long-term, renewable residence visa valid for 10 years
- a self-sponsored visa, as there is no need for an employment sponsor
- ability to stay outside the UAE for more than six months to keep their residence visa valid
- sponsoring their family members, including spouses and children, regardless of age
- supporting an unlimited number of domestic helpers
- allowing family members to stay in the UAE until the end of their permit duration – if the primary holder of the Golden Visa passes away
Who is Eligible for the Golden Visa?
1. Investors
Investors can obtain a Golden visa through the following:
- purchase a property worth no less than AED two million OR
- purchase a property with a loan from specific local banks OR
- buy one or more off-plan properties of less than AED two million from approved local real estate companies
2. Entrepreneurs
Entrepreneurs can obtain a Golden visa through:
- own or partner in a start-up registered as a small and medium enterprise (SME) in the UAE, and the company generates annual revenues of not less than AED one million
- obtain approval for a start-up idea from an official business incubator or the Ministry of Economy
- must have founded an entrepreneurial project that was sold for a total amount of not less than AED seven million
3. Exceptional Talents
- inventors, innovators, and exceptional talents in vital fields such as culture, art, sports and digital technology
- can be obtained regardless of their educational qualification, employment status, monthly salary or professional level.
- the visa requires a recommendation or approval from a federal or local government entity
4. Scientists
- scientists and researchers with high achievements and influence in their field can get the Golden visa based on a recommendation from the Emirates Scientists Council
- a candidate should have a Ph.D. or a Master’s degree in one of the disciplines (engineering, technology, life sciences and natural sciences) from the best universities in the world, as well as substantial research achievements.
5. Professionals
- professionals or highly-skilled workers with high educational qualifications and professional experience in all disciplines, including medicine, sciences and engineering, information technology, business and administration, education, law, culture and social sciences
- have a valid employment contract in the UAE
- are classified in the first or second occupational level as per the classification of the Ministry of Human Resources and Emiratisation
- hold a Bachelor’s degree or equivalent
- have a monthly salary of not less than AED 30,000
6. Students and Graduates
- high-performing students in the UAE’s secondary schools and outstanding graduates from the UAE’s universities and the best 100 universities worldwide
- criteria include academic performance/cumulative average, year of graduation and the university classification
7. Humanitarian Pioneers
Humanitarians can obtain a Golden visa through:
- distinguished members of international and regional organizations
- outstanding members of associations of public benefit
- recipients of recognition awards in humanitarian fields
- distinguished volunteers and sponsors of humanitarian efforts
8. Frontliners
- frontline workers with extraordinary efforts in crises, such as the COVID-19 pandemic, can also get the Golden visa
- aiming at attracting and retaining talents, the UAE updates the Golden Residence rules as a part of the new Entry and Residence Scheme
- the scope of beneficiaries is expanded, offering more benefits, including 10 years of renewable
If you are a fellow investor looking to apply for the Golden Visa, have a chat with our esteemed team from IQI Dubai, and they will be in touch with you soon.
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