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Since its introduction, the UAE Golden visa has significantly been sought after by many expats globally. However, not everyone qualifies to apply due to the unique nature and the highly stringent eligibility requirements.
This article will provide everything you need to know about the UAE Golden visa, including what it is, how it works, and the requirements to get one. We will cover the following topics:
• What is the Golden visa in the UAE?
• Benefits of the UAE Golden visa
• Who can apply for a UAE Golden visa
• UAE Golden visa application requirements
What is the Golden visa in the UAE?
In 2019, the United Arab Emirates introduced a new program for long-term residency visas known as the Golden visa. Unlike other countries, the UAE Golden visa does not require the applicant to invest in real estate. The visa allows the holder to live, work, and study in the UAE without a national sponsor. It is valid for five or ten years and is renewed automatically.
Benefits of the UAE Golden visa
The Golden visa program effectively grants long-term residency to a select group of individuals. By issuing the Golden visa, the UAE government has demonstrated its commitment to providing expats interested in making the UAE their permanent residence with a sense of security. The UAE Golden visa provides the holder with the following benefits:
- No need for local sponsors: The visa enables expatriates to live, study, and work in Dubai without the requirement for local sponsors. Additionally, it allows for 100% ownership of enterprises on the mainland.
- Long-term residency: These visas are valid for five or ten years and are automatically renewed. Hence, you will not have to re-apply for a visa at the time of expiry.
- Travel convenience: Since the visa permits multiple entries, you may enter and exit the country as often as you choose, hence making traveling to and from the UAE convenient.
- Family visas: As a Golden Visa holder, your family members, including your wife, children, and parents, also get residency.
- Gain employment: You can apply for jobs and accept employment with any company. The procedure for recruiting and acquiring a work permit is identical for golden visa holders and other visa holders.
Who can apply for a UAE Golden visa and their requirements?
To take advantage of these Golden visa benefits, you must first determine if you are eligible for them. A foreign national can apply for a golden visa in one of five categories, including investors, chief executives, special talents (doctors, scientists, and coders), entrepreneurs, and outstanding students.
Investors
A foreign investor may apply for a ten-year golden visa if they meet the following criteria:
• At least AED ten million in public investment (investment fund or a company).
• At the very least, 60% of overall investment should not be in real estate.
• The investment should not be financed with a loan. The investor must possess complete ownership of the assets.
• The investor must hold the investment for three years.
• The foreign investor has the option of extending this visa to business partners, but only if they contribute AED 10 million to the venture.
Chief Executives
Executives may also apply for a ten year golden visa if they meet the following criteria:
• Have at least a bachelor’s degree
• Have a minimum of five years of experience in their field
• Earn a salary of at least AED 30,000 in the UAE and have a legal job contract
Doctors
Doctors are eligible for a ten-year visa and must meet at least two of the following criteria:
• A doctoral degree from one of the world’s top 500 colleges.
• Ten years of professional experience in the applicant’s specialty, as well as a Ph.D.
• An honorific in the applicant’s field of endeavour.
• Contribution to a significant body of scientific research.
• Published articles or books in prestigious journals.
• Membership in a field-related organization.
• Specialisation in key sectors for the UAE.
Scientists
Scientists may be given a ten-year visa after their departments and fields have given them accreditations. To be eligible, they need to:
• Demonstrate that they have made a significant contribution to their field of study.
• Receive an award or certificate of praise in their area of expertise.
Coders
Coders must meet the following criteria to be eligible for a golden visa:
• Exceptional professionals and abilities who have excelled in a variety of areas of coding.
• Those who work for cutting-edge international technology companies.
• Graduates of software engineering, computer science, hardware engineering, information technology, artificial intelligence, data science, and big data.
Entrepreneurs
Entrepreneurs may apply for a five-year resident visa. The following requirements apply:
• Have an existing project with a minimum capital investment of AED 500,000 or obtain clearance from an approved business incubator.
• Approval of a government recognised business incubator.
• Documents relating to health insurance for them and their family.
Students
When it comes to exceptional pupils, they must meet one of the following criteria:
• Come from one of the world’s top 500 universities.
• Students in high school with a minimum grade point average of 95 percent and university students with exceptional grades (3.8 GPA or higher).
UAE Golden visa application requirements
If you are eligible for a UAE golden visa, the following documents are needed for its application:
• Original Passport (valid for six months).
• Clear copy of the UAE resident visa cancellation document (if applicable).
• Original Emirates ID (if applicable).
• Clear copy of UAE Tourist visa with entry stamp (if not holding any UAE resident visa).
• Clear coloured digital passport size photograph with white background.
• Clear digital copy of 6 months personal bank statements.
• IBAN (International Bank Account Number).
• UAE Mobile Number.
