Over the years, Dubai has established itself as a city of possibilities for business and leisure travellers. In reality, with the introduction of the Dubai Golden Visa, the city has transformed into the perfect place for people to prosper and prosper.
The United Arab Emirates (UAE) is well-known for its world-class technology and the creative techniques it uses to advance its economy. Because of the inclusion of this newly issued visa, there is no question that the economy will only continue to grow in a positive manner in the future.
You can learn all you need to know about golden visas and how to get one for yourself and your family by continuing reading this article.
What exactly is the Dubai Golden Visa?
In order to accommodate specific groups of people, the UAE has issued long-term residence permits. Depending on the kind of golden visa you choose, the visas are valid for 5 or 10 years and may be renewed. Aside from that, the system makes it possible for UAE citizens and foreigners to get long-term residency permits without the requirement for a local sponsor. A visa may be extended, but only on the condition that the applicant meets certain requirements. People who fall under this category include investors, entrepreneurs, specialised skills, and other individuals.
The golden visa was established in order to encourage and keep “talented individuals and brilliant minds” in the nation by providing them with chances and providing them with incentives. Consequently, the economy will reach new heights as a consequence of this. Furthermore, since the program’s inception in 2019, over 400 investors, entrepreneurs, and some of their family members have been given a golden visa in the United Arab Emirates.
Who is eligible to apply for a golden visa in Dubai?
Individuals may acquire the UAE golden visa if they fall under one of the criteria listed below. These categories are as follows:
UAE golden visa fees for investors and entrepreneurs:
If you are qualified, the cost of an investor visa in the UAE would be about AED 5,000 if you get a golden visa. In addition, PRO fees will be applied to the total payment due. It is possible that the fees and number of years of visa validity will differ based on the kind of visa requested.
The advantages of possessing a UAE golden visa
The ability to enter the UAE more than once: Unlike other kinds of visas, which require people to be physically present in the country every six months, holders of golden visas are free from this need.
Long-term residency permits provide individuals with the security and confidence that comes with being a resident in the United Arab Emirates for a prolonged length of time. They also have the option of renewing their visas on the proviso that they meet certain requirements.
A golden visa in Dubai may be extended to dependents: Those who get a golden visa in Dubai have the option of having their visas extended to their dependents, such as their spouse and children.
Pricing is competitive: When compared to the cost of getting a visa in other countries, golden visas in the United Arab Emirates are very cheap.
Individuals with golden visas are entitled to a wide range of perks and services, which the UAE has developed specifically to meet their needs. Among these services is the installation of a 24×7 “You are special service” by the General Directorate of Residency and Foreign Affairs (GDRFA) in Dubai, which operates under the slogan “You are unique.” Among those who will benefit from this service are holders of golden visas.
You must meet certain requirements in order to be eligible for a golden visa.
Eligibility for a 10-year golden visa:
The candidate must meet at least one of the criteria listed below in order to be considered.
Investors:
It is necessary to make a deposit of up to AED 10 million into an investment fund in the United Arab Emirates..
It is necessary to be an owner of a business with a minimum capital investment of AED 10 million, or a partner in a company with a stake of up to AED 10 million, in order to be eligible.
This visa may be extended to business partners, spouses, and children, as well as to one executive director and one adviser at the discretion of the immigration officer.
Conditions:
In order to be eligible for a golden visa, the applicant would need to fulfil at least one of the requirements listed below.
Individuals should be able to fully own the investment money they have produced. Investments made with the assistance of loans will not be accepted, and appropriate documentation must be provided.
The applicant must have kept the investment for a minimum of three years before applying.
The applicant must provide proof of insurance for themselves and any dependents they may have.
The visa may also be acquired by highly specialised skills such as scientists, experts, physicians, programmers, and people with a creative flair in the fields of culture and the arts, among others.
Eligibility for a 5-year golden visa:
The candidate must meet at least one of the criteria listed below in order to be considered.
Investors:
Should have invested in a home worth at least AED 5 million, but not less.
The amount of money invested cannot be repaid on a loan basis.
The property must have been in the ownership of the owner for a minimum of three years.
Entrepreneurs:
It is necessary to have an existing project of AED 500,000.
It is necessary to get recognised as a business incubator in the nation in which it operates.
The following are the conditions: (applicable only to investors)
In order to be eligible for a golden visa, the applicant would need to fulfil at least one of the requirements listed below.
The applicant’s current project must be in a field that has been certified in the United Arab Emirates.
The applicant must be acknowledged as one of the project’s founders.
The applicant’s business incubator must provide appropriate resources and services to other businesses and startups in order to be considered for funding. In addition, the business must have the appropriate certifications to operate.
It is required that the applicant have health insurance coverage for themselves and their family members.
This visa may also be acquired by students who have achieved a minimum grade point average of 95 percent. In addition, the golden visa is extended to the student’s immediate family members.
What is the procedure for applying for a golden visa in the United Arab Emirates?
You will be needed to complete the following procedures in order to acquire your golden visa in the United Arab Emirates:
Fill out an application for a golden visa nomination. You will be required to provide a profile of your professional achievements.
Submission of all of the necessary paperwork. These are some of the documents:
a photocopy of your passport
a copy of your visa
Photo of the Emirates ID Passport
Obtaining a business licence
Association’s Memorandum of Understanding Audit report
Licensing and certification for auditors
a statement from the bank
Deed of conveyance (AED 2 million)
Ejari Health Insurance is a health insurance company.
Depending on the category you fall into, changes may be made to the papers that are needed. Additionally, the candidate must be willing to move to the United Arab Emirates.Once the application has been accepted, the person will be given a golden visa.