UAE Golden Visa

In UAE, the first golden visa program was implemented in the year 2019. Ever since the country has granted this visa to 100,000 entrepreneurs, medical professionals, and individuals with special talents. Here, we will explain in detail about the golden visa, its perks and eligibility criteria.

What is UAE Golden Visa Program?

UAE is one of the promising countries that offers the best career opportunities for skilled professionals and growing investment opportunities for investors. However, many talented and competent expats in the UAE often face a major inconvenience, ie. the short validity of visas. Due to this reason, they are supposed to repeatedly perform the same procedure wasting time and efforts.

To combat this issue, the UAE government has introduced the Golden Visa, a long-term residency visa scheme that ensures that the eligible candidates can live in the country without worrying about the validity of their visas. This long-term residence visa allows residency for five or ten years instead of the standard two-year residence visa. The 10-year visa is provided to investors, doctors, programmers, and individuals with unique talents, whereas the 5-year visa is offered to entrepreneurs, real estate investors and outstanding students.

Perks of having a UAE Golden Visa

• A visa holder can work or study in the UAE.
• This visa does not require a sponsor.
• The visa holder can stay outside the UAE for more than six months and the visa will be still valid.
• A visa holder can sponsor his or her family member.
• The visa will be renewed automatically if all necessary conditions are met.

Golden Visa for Investors

Eligibility Requirements

• Must have investments with a minimum value of AED 2 million in the form of a company, a business partnership or a fund.
• Purchased a property with a loan from a specified national bank
• The investor must have full ownership of the invested amount.
• Must maintain the investment for at least three years.

There are two ways by which you can obtain an investor visa in Dubai, they are:

A) Investment in Property worth 2 million AED

If you have an AED 2 million worth property in the UAE, you are qualified for a 10-year investment visa. Also, if you own multiple properties worth AED 2 million which are approved by local real estate companies, you are eligible for 10-year investment visa.

B) Investor in an Investment Fund

If you have a two-year fixed deposit of AED 2 million at a local bank, then you are eligible for a 10-year investor visa.

Advantages of having an Investor Visa

• Extended Stay outside the UAE: There is no time limit regarding how long you can be outside the UAE for keeping this visa active. One can stay abroad for more than six months.
• Visa holders can sponsor family members including parents for 10 years

UAE Golden Visa for Professionals

Professionals who have advanced degrees and professional experience are eligible for the UAE Golden Visa as the need for expert professionals with knowledge in various fields is rising in Emirates. The UAE government offers golden visa for salaried employees with a monthly salary of AED 30,000. Applicants should be classified in the first or second occupational level as per the Ministry of Human Resources and Emiratisation Classification.

Individuals with Special Talents

This category includes specialized talents including inventors and innovators in science and technology, such as scientists, doctors, etc. and creative individuals in art, culture and sports.

• Inventors must obtain a patent of value that is approved by the UAE’S Ministry of Economy.
• Researchers scientific research should be published in a world-class journal.
• Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence must approve the Scientists.
• The Ministry of Culture and Knowledge Development must approve the creative individuals in art and culture.
• Doctors and specialists should have a Ph. D. degree from one of the best 500 universities in the world along with a 10-year professional experience. They should also have a certificate or an award of appreciation in their fields. Contributed to significant scientific research in their respective field of work. Should have membership in an association related to the field.

If you think, you meet the eligibility criteria for UAE Golden Visa or would like to know more about it, feel free to contact us at info@corpinconsultants.com or +971 55 843 2911. Our experts can educate and assist you in every step of the process.