Travelers and expat communities worldwide view the UAE Golden Visa as the buzzword. Are you figuring out what the term means, the benefits of having one, how to apply for the Golden Visa, and the specific requirements? Worry notโwe are skillfully breaking down the details to help you understand the process of the UAE Golden Visa. Follow our guide below.
UAE Golden Visa: The Term
The visa was launched for foreigners to live, work, conduct business, and seek education in the United Arab Emirates. Those aiming for an extended stay in the UAE will have access to a straightforward process flow with the help of the Golden Visa Program, a new system for long-term visa holders in the Emirates. This long-term renewable residence visa stays valid for 5 or 10 years.
Benefits of the UAE Golden Visa
The Golden Visa UAE holds multiple benefits. Here are the key ones:
- Applicants have access to complete ownership of their businesses with the UAE Golden Visa.
- No sponsors are required to qualify for this visa.
- It offers the flexibility of varied entries and insurance of residency permits besides serving as a six-month entry visa.
- Residents can sponsor spouses, family members, and children of all ages besides sponsoring unlimited domestic help.
- Family members can reside in the UAE until the end of the permit if the primary visa holder dies before the end of the visa duration.
Eligibility and Requirements for UAE Golden Visa
Various requirements are involved in the visa process, depending on whether the applicant is an entrepreneur, investor, or talent and the type of residence. The breakdown is as follows:
Investors in Real Estate
You qualify for a Golden Visa valid for five years without needing a sponsor. This visa is renewable under the same conditions upon submission.
- The relevant emirate of the land department confirms through a letter the ownership of one or more properties valued at a minimum of 2 million dirhams.
- Further, the decision to purchase a property is made through a loan obtained from specific local banks approved by the competent local authority.
Entrepreneurs
Entrepreneurs owning a technical or future economic project based on risk and innovation may receive a five-year visa. An approval letter from each of these is what an applicant will need:
- An auditor in the UAE stated that the project value is at least 500,000 dirhams.
- An auditor noted that the project value is at least 500,000 dirhams.
- The Emirate’s authorities recognize the project as being of a technical or future nature.
- An accredited business incubator in the UAE will be established to promote the proposed activity in the country.
Outstanding Special Talent
A Golden Visa is eligible for professionals such as scientists, doctors, creative cultural artists, executive directors, inventors, doctoral degree holders, athletes, and more.
It also comprises those relating to science and engineering fields, including artificial intelligence, big data, computer/software/electronic/electrical engineering, biotech engineering, genetics, and so on, in addition to COVID frontline heroes. Certain approvals, documents, and more are needed for each of the above eligibility criteria, and the competent authorities can sort out their details.
Application Process for Dubai Golden Visa
Suppose you want a Golden Visa for the UAE. You have two avenues for application: either online through the Federal Authority for Identity and Citizenship (ICA) or through the General Directorate of Residency and Foreigners Affairs (GDRFA), which can be done online or offline.
When applying online, make sure to use the official website. It’s essential to be careful to avoid any scams.
Currently, a 5-year Golden Visa costs about AED 650, and a 10-year Golden Visa costs about AED 1,150.
The Dubai Golden Visa allows individuals to obtain residency for extended periods through the Federal Authority for Identity and Citizenship (ICA) or the General Directorate of Residency and Foreigners Affairs (GDRFA). Online applications are available, but caution should be exercised to use only authorized websites. The cost varies depending on the duration of the visa, with prices around AED 650 for five years and AED 1,150 for ten years. For more on eb5 visa, visit our official page today.
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