What are the benefits of a UAE golden visa and how to get it?

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Topics Covered

1. What is UAE Golden Visa?

2. What are the benefits of the golden visa?

3. Who can apply for the UAE Golden Visa?

4. UAE Golden Visa requirements for 10 years

5. UAE Golden Visa requirements for 5 years

6. What is the procedure to obtain the UAE Golden Visa?

7. How much does the Golden Visa cost?

8. Final thoughts

The UAE is one of the world's top tourist destinations.
As a result, many international investors, professional people, and business owners are looking for ways to establish themselves in this country.

Furthermore, the UAE government has launched several initiatives aimed at attracting talented people to promote economic growth.
The UAE Golden Visa is one of these initiatives.

This special visa scheme was launched in 2019 to provide individuals with long-term residence visas.

It also allows foreigners to work, live, or study in the UAE.

However, there is a substantial difference between other Visa schemes and the UAE golden visa.
To get a UAE golden visa individuals will not require a sponsor.

As a result, there are numerous UAE golden visa benefits available to people who obtain this document.

As a result, many foreigners want to know how to get it and what steps you must take to hire employees from India.

What exactly is the UAE Golden Visa?

  • The Golden Visa is a legal document that allows foreigners to stay in the country for an extended period.

  • The most intriguing aspect of the UAE golden visa is that it provides residency for 5 to 10 years. This is very appealing to foreigners who want to live in the UAE but do not want to worry about renewing their visas all the time.

  • Nonetheless, the UAE authorities have set strict guidelines for who can receive this document.
    As a result, it is critical to understand whether you are eligible and how to apply.

What are the benefits of the golden visa?

  • The UAE launched the Golden Visa scheme to provide additional security for those seeking to establish a future in the UAE. There are numerous benefits available to Golden Visa holders, including:

  • No national sponsor required

  • The golden visa in the UAE allows foreign people to live, study, or work in Dubai without the need for national sponsors and with full responsibility for running their business in UAE. These visas are valid for 5 or 10 years and are automatically renewed.

  • Several accounts

  • Getting a golden visa makes opening an account in the UAE easier. This means you can have another secure vault for your surplus funds by easing out the financial arrangements of that country for you.

  • No travel restrictions

  • Golden visa holders are treated as if they are UAE nationals. As a result, it makes traveling much easier. As a result, you do not need to apply for a visa again, and you are free to live, study, and work anywhere in the UAE.

  • No corporate and individual income tax

Because the UAE is a tax-free country, investors and foreign nationals can benefit from avoiding tax in their home country by obtaining a tax residence certificate from the UAE.

All income and profits are tax-free in the UAE, so one can reap the benefits by investing in Dubai, whether in real estate, bonds, or a business.

Who is eligible to apply for the UAE Golden Visa?

Once you understand all of the benefits of the UAE Golden Visa, you must determine whether you are eligible to apply.

Individuals who meet the following criteria are eligible to apply:

  • Scientists, Ph.D. holders, and data experts

  • Chief executives of the companies like the CEO

  • Doctors

  • Students who excel (their family can apply to)

  • University graduates with a GPA of 3.8 or higher

  • Investors

  • Investors in real estate

  • Entrepreneurs

If you fall into one of the preceding categories, you are eligible for the golden visa.

However, the eligibility requirements for each category will differ for the 5-year as well as the 10-year golden visa.

UAE Golden Visa requirements for ten years

  • Applicants must meet specific criteria requirements to obtain a 10-year UAE Golden Visa.

  • You must be an investor or a person with the specialized talent to apply for a Golden Visa.

  • Investing in a property in UAE is one of the requirements to get a 10-year UAE Golden Visa.
    The investor should buy a property in the UAE worth AED 2 million or more, to get a 10-year Golden Visa.

  • What is worth noting here is you can buy property in Dubai using Cryptocurrency through platforms like Coin Real Estate.

  • Investors must make a public investment in the form of an investment fund or a company worth more than AED 10 million. A minimum of 60% of the investment must not be in the form of real estate.

  • Applicants with specialized skills include those working in the fields of science and knowledge, such as doctors, specialists, scientists, and creatives.

    Other requirements for a 10-year visa:

  • There are specific requirements for investors seeking a 10-year visa.

  • The investment cannot be loaned, must be held for at least three years, and must have financial solvency of up to AED 10 million.

  • Visas may be granted to business partners if each partner contributes AED 10 million.

  • A spouse and children can also be granted visas.

Individuals with specialized skills must also meet certain requirements to obtain a 10-year visa.

Doctors, coders, artists, scientists, and researchers are examples of specialists.

In their line of work, they must meet at least two of the following requirements:-

Ph.D. from one of the world's top 500 universities, according to the ICA

  • Relevant recognition or certification

  • Contribution to significant scientific research

  • Published articles or books on science

  • Membership in a relevant organization

  • Ph.D. with ten years of relevant experience

  • Specialization in priority areas for the UAE

UAE Golden Visa requirements for 5 years:

Applicants must meet specific criteria requirements to obtain a 5-year UAE Golden Visa.

To be eligible for a Golden Visa, you must be a property investor, entrepreneur, or an outstanding student.

Other requirements for a 5-year visa:

  • Investors, entrepreneurs, and outstanding students must also meet certain requirements to obtain a 5-year Golden Visa.

  • For example, property investors must invest in a property worth more than AED 5 million and keep it for at least three years.

  • Entrepreneurs must have at least AED 500,000 in capital or approval from accredited businesses incubated in the UAE.

  • Outstanding students must have a minimum grade point average of 95 percent or a distinction GPA of at least 3.75 from a public or private secondary school.

The next step is, you should know how to apply for a golden visa.

How do I apply for a Golden Visa to the UAE?

  • Anyone interested in applying for a Golden Visa should visit the websites of the Federal Authority for Identity and Citizenship or the General Directorate of Residency and Foreigners Affairs.

  • The former only has online channels, whereas the latter has both online and offline channels.

If you want to apply for a UAE golden visa, you must first complete the following steps:-

Step 1:
Begin by requesting a nomination. Within 30 days, an authorized government authority will review your application. You will then be notified via email of the outcome.

Step 2: Once your nomination is approved, you will be emailed a link where you can upload the necessary visa documents.

Step 3: The Federal Authority for Identity and Citizenship will verify your application. Then you'll get your Golden visa.

What is the cost of the Golden Visa?

Another important aspect of the Golden Visa is the fee you must pay for this document.
A Dubai Golden Visa cost varies based on the individual and the type of golden visa applied for.

  • The Golden Visa will cost between AED 2,800 and AED 3,800 for applicants who are currently in the UAE.

  • The Golden Visa will cost between AED 3,800 and AED 4,800 for applicants from outside the UAE.

Final Thoughts on the Golden Visa in the UAE

Investors from all over the world choose UAE as a home for their families or their business headquarters.

Obtaining a UAE Golden Visa entitles an investor to reside in the United Arab Emirates for ten years or five years, depending on the type of UAE Golden visa applied for and the Golden Visa Eligibility in Dubai.

As stated previously, buying a property in Dubai is the best way to become eligible to obtain a Golden Visa.

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