UAE Golden Visa: From A to Z
A few years ago, the United Arab Emirates implemented a new type of residence permits called the Golden Visa, which is a long-term residency to investors, entrepreneurs, individuals with outstanding talents like that of researchers, professionals and those within the scientific and knowledge fields, and outstanding students. The Golden Visa allows you to live, work and study in the UAE without the need of a national sponsor. Here’s A to Z information about the UAE’s Golden Visa and how to get it.
What are the benefits of the UAE Golden Visa?
Briefly, the UAE Golden Visa enables foreigners to live, work and study in the UAE without the need of a national sponsor. These Golden Visas may be issued for 5 or 10 years and can be renewed thereafter.
By becoming a legitimate resident in the UAE, you will be entitled to:
- open a personal current and saving bank accounts in UAE banks
- access financial facilities
- apply for a driving license and buy vehicles
- access government health services and health insurance
- enroll your children in government or in private schools
- work and invest in an absolutely secure environment
- travel visa–free to certain destinations (check with foreign embassies in the UAE).
Apart from the other benefits, the main benefit of the UAE Golden Visa is that it provides assurance and security for you to plan your stay in UAE long-term. By introducing the Golden Visa, the UAE government has made it clear that they are committed to providing expatriates, investors and essentially everyone looking to make the UAE their home an extra reason to feel secure about their future.
Ten-year Golden Visa
What are the requirements for the 10-year Golden Visa?
The requirements vary for each category, i.e., investors, researchers and people with specialized talents.
10-year Golden Visa eligibility requirements for Investors:
- Having no less than AED 10 million worth of public investment, either in the form of an investment fund or a company.
- At least 60 percent of the total investment must not be in the form of real estate.
- The invested amount must not be loaned, or in case of assets, investors must assume full ownership.
- The investor must be able to retain the investment for a minimum of three years.
Conditions of 10 years Golden Visa in UAE for Investors:
- The amount must be fully owned by the investor and must not be loaned.
- The invested amount should be retained for at least three years.
- The person should be financial solvent up to AED 10 million.
Advantages of 10-year Golden Visa UAE for Investors:
This 10-year long Golden Visa may be extended to include business partners, providing that each partner contributes AED 10 million. The long-term Golden Visa can also include the holder’s spouse and children, as well as one executive director and one advisor. This visa may also be renewed.
For Researchers and People With Specialized Talents:
10-year Golden Visa eligibility requirements for researchers and people with specialized talents:
The individuals listed under the specialized talents category includes doctors, researchers, scientists, inventors, creative people in the field of arts, culture and sports. These individuals may be granted a 10-year Golden Visa following accreditations granted by their respective departments and fields. The visa also extends to their spouses and children.
Conditions of 10 Year Golden Visa for researchers and individuals with specialized talents:
- The individuals are required to have a valid employment contract in the particular specialized field in the UAE.
- The scientist must be approved by Emirates Scientists Councilor accredited by Mohammed Bin Rashid Medal for Scientific Excellence.
- Artists & creative individuals in the field of art & culture must be accredited by the Ministry of Culture and Knowledge Development.
- Inventors must obtain a patent of value. Patents must be approved by the Ministry of Economy.
- Researcher’s work must be documented and published in a world-class journal.
- Doctors & specialists are required to meet at least two of the following conditions:
- must be a Ph. D. degree holder from one of the top 500 universities in the world (refer to ICA for more information)
- an award or certificates of appreciation in the field of the applicant’s work
- contributed to major scientific research in the related field
- published articles or scientific books in distinguished publications in the respective field of work
- must be a member of an organization related to the field
- must have a Ph. D. degree, plus 10 years of professional experience in the related field
- specialist in areas of priority to the UAE.
Five-year Golden Visa
Apart from the 10-year Golden Visa, there is another long-term residence permit called Five-year Golden Visa. The 5-year Golden Visa has reduced requirements comparing to the 10-year Golden Visa.
Eligibility for 5-year Golden Visa in UAE:
The following categories of individuals are eligible to apply for 5-year Property Investor Visa:
- Investors in real estate property
- Outstanding students
Requirements For Property Investors:
- The investment in one or more free-hold properties in Dubai with a total value of the real estate asset not less than AED 5 million.
Conditions of 5-year UAE Golden Visa for Property Investors:
- The amount must be fully owned by the investor and must not be loaned/mortgaged.
- The invested amount should be retained for at least three years.
- The person should be financial solvent up to AED 5 million.
Advantages of 5-year UAE Golden Visa for Property Investors:
- The investor can have the spouse & children to be included in the Golden Visa.
- Foreign investors can apply for a multiple-entry permit of 6 months period.
This category of visa gives a chance to those entrepreneurs who are having existing projects with a minimum capital of AED 5 million.
Conditions of 5-year UAE Golden Visa for Entrepreneurs:
- The amount must be fully owned by the investor and must not be loaned
- The invested amount should be retained for at least three years
- The person should be financial solvent up to AED 5 million
Advantages of 5-year UAE Golden Visa for Entrepreneurs:
- • The skilled individual can have the spouse & children to be included in a long-term visa.
- • Foreign investors can apply for a multiple-entry permit of 6 months period.
- • One partner & 3 executives can also be included.
For Outstanding Students in UAE:
This is the best opportunity for the students who have obtained at least 95% marks in secondary schools. College student will also be entitled to have 5-year Golden Visa if they are having a distinction GPA of at least 3.75 upon graduation.
Advantages of 5 years of Permanent Residency/Student Visa in UAE:
• The students can have their families to be included in a long-term visa of 5 years.
Frequently Asked Questions (FAQs):
• Can the UAE permanent visa holder stay outside the country for more than six months?
Yes, the recipient of Golden Visa is exempted from the rule which states that residents cannot be outside the UAE for more than six consecutive months.
• Who can apply for UAE Golden Visa?
Foreign and UAE based investors, entrepreneurs, high salaried executive managers, and professional talents, researchers in various fields of science and knowledge and outstanding students can apply for a long-term residence visa in UAE.
• What is the Dubai Permanent Residence visa processing time?
The visa issue time is very quick and efficient. The overall process can take 10-15 days.
• Does the Golden Visa need to be renewed?
Yes, it has to be renewed every 5 or 10 years because there are medical check-up and other procedures that need to be done.
• What if the business of the investor fails?
Things will be reviewed by the UAE government on a case-to-case basis after the initial 5 or 10 years.
• Is there any age restrictions for the recipient?
No, the applicant can be of any age.
POA.AE provides full services in getting UAE residency visas. If you wish to get a Golden Visa or any other type of UAE residence permit, please feel free to contact us. We will assess your eligibility and can help you get your UAE Golden Visa with minimum cost and time.