Golden Visa
The Golden visa for Dubai is a distinct provision by the UAE government. Eligible individuals are permitted to live and work in Dubai on a long–term basis. Applicatiants may be an investor, business owner, talented employee, student, retiree etc. This program is like a golden ticket. You have the independence of not needing a sponsor in Dubai, which is a great plus for anyone looking to enjoy their time living in this modern cosmopolitan city.
What is Golden visa?
The UAE Golden Visa is a residency program to provide opportunities for eligible people to live, work and invest in the UAE without the need for a job or a sponsored visa. The golden visa is generally for a term of 10 years and may be renewed as long as the Golden Visa holder abides by the relevant conditions.
Benefits of the UAE Golden visa
The Golden visa provides a means for individuals to live in the UAE for a longer term usually for 5 or 10 years.
Golden visa holders have the right to work in the UAE without the need for a separate work permit or employment contract. This flexibility is particularly attractive to professionals and entrepreneurs.
Unlike the conventional UAE residency visas. The Golden visa provides you autonomy and independence as you do not need an Emirati sponsor or employer as required by a UAE residency visa.
Holders of golden visas and their dependents can avail of government services, such as health care, education, and public utilities, with services equal to UAE nationals.
For investors and entrepreneurs, the Golden visa offers unique opportunities to set up a company and expand their business in the UAE, while promoting entrepreneurship and innovation in the UAE.
The UAE is known for its favorable tax environment. There is no personal income tax or capital gains tax in the UAE. Golden visa holders can benefit from these advantages, potentially resulting in significant financial savings.
The Golden visa has created an interest for real estate investors because it allows them to invest in Dubai’s real estate scene and in other sectors, enabling features for capital appreciation and rental income.
Holders of a golden visa are able to register their children in schools and universities in the UAE, thus giving them both access to a high-quality institution for education.
Residents in the UAE, including Golden visa holders, benefit from incredible international flight connections that pass through major airports in the UAE, making travelling and business networking more efficient.
Who can apply for the UAE Golden Visa?
The UAE Golden visa provides unique benefits to individuals looking to live, work, and study in the UAE. Additionally, the business visa comes under the Golden visa system for business owners. By successfully getting the visa you can enter Dubai for an approved period of 6 months on a multiple entry basis or a long term renewable residence visa for 5 or 10 years. Further to the above, an individual can sponsor their family members.
Those who are eligible for the Golden visa UAE include the following:
Investors
1. If you choose to invest in an investment fund, you will be eligible for a 10–year Golden visa without the need for a sponsor.
2. A letter from the investment fund (licensed in the UAE) confirming that the investor has deposited AED two million is required. Alternatively, you can submit a valid industrial/commercial licence and a memorandum of association, stating that the investor‘s capital is not less than AED two million.
3. In addition to these things, an individual must also have totally free ownership of the invested capital (not loan) and they must provide proof of medical coverage.
Entrepreneurs
1. If you present an economic project based on technical or future ideas, you will get a Golden visa for 5 years.
2. The auditor in the UAE must confirm that the project’s value is at least AED 500,000.
3. Your project is of a technical or future nature, based on risk and innovation, according to the relevant authorities.
Skilled professionals
1. Includes in the case of specialists with key contributions or skills that support development within Dubai.
2. Extremely skilled and talented individuals in multiple domains, whether it be science, technology, art, and culture.
Outstanding students:
1. Outstanding students accepted into accredited institutions of higher learning in Dubai.
Retirees
1. Retirees who possess a certain degree of financial security.
2. To qualify for the Golden Visa, retirees need to fulfill certain financial requirements.
Real estate investors
1. Golden visa for real estate investors will be granted for 5 years
2. You will be required to submit a letter from the land department confirming your ownership of one or more properties. The total value must not fall below AED 2 million.
3. You can Purchase the property with a loan from a bank, approved by a competent local entity.
Outstanding specialized talent
You will receive the Golden visa for 10 years if you meet the following requirements:
1. An approval letter from the Ministry of Health and Prevention in the UAE.
2. A recommendation letter from Emirates Council of Scientists, which must state that the applicant is awarded the Medal of Scientific Excellence.
