Since it was put into place, the UAE Golden Visa program has caused quite a stir among some expatriate groups with aspirations of obtaining permanent residency in the United Arab Emirates.
The Golden Visa is anticipated to significantly strengthen the UAE’s position as one of the top centers for international business and investment thanks to its enlarged categories and eligibility.
Everything you need to know about Golden Visa UAE, including the requirements, advantages, application process, and more, is provided here.
What is a UAE Golden Visa?
Foreign talent can live, work, and study in the UAE for up to ten years with the Golden Visa, a long-term resident visa. This renewable golden residence program is only available to a select group of people, including investors and those with remarkable abilities.
The Golden Visa initiative aims to entice capital and talent from abroad to the UAE. The ability to live and work in the nation, accessibility to top-notch healthcare and education, and the capacity to sponsor family members for residence visas are just a few advantages it grants bearers. The Golden Visa is valid for 10 years after which it may be extended.
News and regulations about Golden Visa UAE
The entrance permit costs for persons requesting the UAE 10-year Golden Visa have recently been updated by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP).
The cost of the six-month entrance permit has now been revised to AED 1,250, according to the authorities. The AED 1,250 price consists of an issuance fee of AED 1,000, an application fee of AED 100, a smart services fee of AED 100, an electronic services fee of AED 28 and an ICP fee of AED 22.
Advantages and benefits of Golden Visa UAE
The following are a few advantages of the Golden Visa in the UAE:
an entry visa that allows for multiple entries and is valid for six months, followed by the issuance of residency permits; a long-term, renewable residence visa that is valid for ten years; a self-sponsored visa that allows the holder to leave the UAE for any length of time without risking the cancellation of their visa; and the ability to sponsor members of their family, including spouses and children, regardless of their ages, for ten years of residency without having to make additional deposits.
Allowing family members to stay in the UAE until the end of their visa period in the event that the principal bearer of the Golden Visa passes away by sponsoring an unlimited number of domestic helpers.
Holders of a Golden Visa in Abu Dhabi will be eligible for special discounts and deals on things like real estate, healthcare, lodging, financial services, and automobiles. To provide the incentives, the resident’s office has partnered with businesses from several industries.
Holders of Abu Dhabi golden visas will be eligible for discounts on a selection of properties from developer Imkan Properties under the commercial agreements with the Abu Dhabi Residents Office.
Real estate golden visa investors will receive discounted mortgage fixed-interest rates from institutions, such as Abu Dhabi Commercial Bank and First Abu Dhabi Bank, while non-real estate investors would receive favorable rates on savings accounts.
The holders will also be eligible for discounted rates on yearly health insurance policies for families and individuals with a variety of network coverage and a slew of advantages both inside and outside the country.
According to the authorities, foreigners who reside in Dubai and possess a golden visa as well as a valid driver’s license from their home country are now eligible to take the UAE driver’s test without taking additional driving lessons.
The owners of golden visas will also be immediately qualified for a UAE driver’s license if they already possess a license from one of the 32 nations that have been authorized, including the US, UK, Australia, Italy, Saudi Arabia, South Africa, Spain, New Zealand, Qatar, Kuwait, and Ireland.
Outstanding international students and their families will be awarded a 10-year permanent Golden Visa in Dubai, according to Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. Additionally, they will receive discounts to continue their education in higher levels at international university branches in Dubai.
Golden Visa insurance
Golden Visa holders have the option to apply for complete insurance coverage, which may cost anywhere from AED 2,000 to AED 50,000, depending on their age, health, the hospitals and clinics covered, and other considerations. For holders of Golden Visas, the National Health Insurance Company (Daman) has offered health insurance plans that are available for a year and can be renewed annually. Depending on your age and the plan type you choose, premiums for all insurance plans may change.
Golden visa requirements:
Requirements for the Golden visa depend on the type of residence, whether investor, talent, entrepreneur, etc.
Investors in public investments
If you invest in an investment fund, you may be granted a Golden Visa for a period of 10 years without a sponsor, subject to the:
- submission of a letter from an investment fund accredited in the UAE stating that the investor has a deposit of AED two million, or
- submission of a valid commercial licence or industrial licence and a memorandum of association stating that the investor’s capital is not less than AED two million
- submission of a letter from Federal Tax Authority stating that the investor pays the government no less than AED 250,000 (two hundred and fifty thousand) annually. Additionally, you must:
- own the invested capital completely; it must not be a loan and
- provide proof of medical insurance for himself and his family (if any).
Real estate investors
If you own a property or a group of properties, you may be granted a Golden visa for a period of 5 years, renewable on the same conditions and without a sponsor subject to the:
- provision of a letter from the land department of the respective emirate stating that he owns one or more properties whose value is not less than 2 million dirhams
- purchase of a property with a loan from specific local banks approved by the competent local entity.
If you are an entrepreneur, you may get a Golden visa for a period of 5 years, if you own an economic project of a technical or future nature based on risk & innovation. In addition, you must have an approval letter from each of the following:
- an auditor in the UAE stating that the project value is not less than 500,000 dirhams
- the authorities in the emirate stating that the project is of a technical or future nature
- an accredited business incubator in the UAE to establish the proposed activity in the country.
Outstanding specialised talents
Outstanding specialised talents include:
- creative people of culture and art
- specialists in scientific fields
- doctoral degree holders and
- specialists in the fields of engineering and science.
Subjects relating to engineering and science include:
- epidemiology and viruses
- artificial intelligence
- big data
- computer engineering
- electronic engineering
- software engineering
- electrical engineering
- genetics and biotechnology engineering.
If you have an outstanding specialised talent, you may get a Golden visa for 10 years after meeting the requirements mentioned below for each category:
Doctors and scientists
- an approval Letter from Ministry of Health and Prevention in the UAE to practice the profession of medicine (for doctors)
- a letter of recommendation from Emirates Council of Scientists or a letter from Secretariat of the Mohammed bin Rashid Medal for Scientific Excellence stating that the applicant has been awarded the Medal of Scientific Excellence (for scientists).
- a recommendation letter from Ministry of Economy stating that your patent has an added value to the country’s economy
Creative people in the fields of culture and art
- an approval letter from the department of culture and arts in the respective emirate.
- Apply for a creative talented accreditation (cultural visa) – Dubai Culture
- Get an endorsement certificate for creative people – Abu Dhabi Department of Culture and Tourism
- Get a recommendation letter for golden visa request – Ministry of Culture and Youth
- a copy of a university degree accredited by Ministry of Education with educational attainment not less than a bachelor’s degree
- a letter of experience of no less than 5 years holding the same position
- a salary certificate with a salary of AED 50,000 at least
- a valid work contract.
- a recommendation letter from General Sports Authority or one of the sports councils
Specialists in engineering and science
- a copy of a Bachelor’s or a Master’s degree certified by Ministry of Education and a work contract.
High school students
If you are a high school student and a national-level topper, (with a minimum grade of 95 per cent in public or private secondary school) you may be granted a Golden visa for 5 years without a sponsor, subject to submission of a recommendation letter from Ministry of Education (Emirates Schools Establishment).Duration of the Golden visa for students is 5 years and may be extended if he/she is enrolled in one of the majors/colleges in the country that requires a study period of more than five years.
If you are an outstanding university student, you may be granted a Golden visa for a period of 10 years without a sponsor, provided that:
- the university must be rated either A or B class by Ministry of Education
- a recommendation letter from the university or an accredited graduation certificate or an accredited academic record stating that the student’s cumulative GPA is not less than 3.5 for A class universities and 3.8 for B class universities is submitted.
it has not been more than 2 years since you graduated.
Outstanding students of foreign universities may be granted a Golden visa for a period of 10 years without a sponsor, provided that:
- The university is rated among the best 100 universities global according to the rating system recognized by Ministry of Education
- The student’s cumulative GPA is not less than 3.5
- It has not been more than 2 years since you graduated
- Graduation certificate is accredited by the Ministry of Education
Pioneers of humanitarian work
If you are a pioneer of humanitarian work, you may get a Golden visa for 10 years. You must be one amongst the following categories to qualify as a pioneer of humanitarian work:
- members and outstanding employees who have worked for international and regional organisations for a minimum of five years
- members and outstanding employees who have worked for civil associations and institutions of public interest for a minimum of five years
- individuals who have received an appreciation award from a local, regional or international organisation that focuses on humanitarian work
- funders of humanitarian work provided that the value of the support does not fall below two million UAE dirhams or its equivalent.