Golden Visa UAE-The United Arab Emirates (UAE) recently decided to issue a 10-year golden visa to professionals in the field of of engineering, physicians, Ph.Ds. These professionals must come from UAE accredited universities who have scored not below the average mark of 3.8 GPA.
What is Golden Visa UAE?
The Golden Visa grants long-term residency to foreigners. The UAE has several visa schemes, golden visa is one them. Individuals wishing to travel to Dubai or any city in the UAE can apply for the visa that is convenient for them.
The most common Visa in the UAE is the UAE employment visa, where an employee gets sponsored by an employer and receives a residency that’s valid for two or 3 years.
There’s also the UAE freelancer visa, where the individual gets a residency for 1 year.
However, the most interesting aspect about the UAE golden visa is that, the holders are offered residency permit for five to ten years. This can be highly appealing for foreigners that want to live in the UAE and don’t want to go through the stress frequent visa renewals.
The UAE Authorities have established strict regulations regarding who can receive this document. So, it’s important to understand if you’re eligible and the way or procedures to apply.
Benefits of the golden visa
With the UAE Golden Visa, you can get the following benefits:
- Residency in the UAE ( 5 or 10 years)
- Social Security in the country
- Live, work and study in the UAE
- You will be 100% in control of your businesse(s) in the UAE’s mainland
If you want to get all of these golden visa UAE advantages, you need to know first if you’re eligible.
According to United Arab Emirate Government, the main purpose of the golden Visa is bring talented and skilled professionals in the country.
The golden visa UAE was introduced in 2019 as a long-term residency program by Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai. After the launch, the visa attracted over 400 investors and businessmen from almost every sector.
Reason for Introducing Golden Visa UAE
The reason for introducing the golden visa was to project the United Arab Emirate as a destination for business investment and encourage business development within the region. The visa was introduced strictly for the country’s development.
The golden visa a log-term visa that’s valid for ten years and may be renewed.
Who can apply for the golden visa?
The categories of people who can apply for the golden visa UAE are: Entrepreneurs, chief executives, investors, meritorious or praiseworthy students and scientists.
The Cost of UAE Golden Visa ?
The price of the UAE golden Visa varies, depending on the validity of the visa. The fee you should pay depends on the numbers of years you wish to stay in the UAE.
Here are the breakdown of the golden visa application fees:
- 10-year golden visa will cost you about 1,150 dirhams . Plus, extra 150 dirhams fee for application costs and 1000 dirhams for issuance. In total, you’ll have to pay 2,300 dirhams.
- 5-year golden visa costs, 650 dirhams . About 150 dirhams for application costs and 500 dirhams for issuance. So, in total you’ll have to pay 1,300 dirhams .
Foreign Investors Requirements
- Must have up to 10 million dirhams in your investment account within the UAE.
- Must be a business owner with 10 million dirhams as capital investment or must be a partner of a business with a share of up to 10 million dirhams.
- The applicant must show proof of ownership of the investment for a minimum of three years
- The applicant must have an insurance document for themselves and their family
Requirements for Entrepreneurs
- As an applicant, the value of your project must be up to 500,000 dirhams or above.
- Applicant must be a licensed business owner
- Applicant must have insurance coverage for himself and his family members who he may want live in the UAE with.
- Applicant must be a professor in his chosen field from one or two of the top 500 international universities that’s approved by the ministry of education.
- Applicant with a reward or certificate of appreciation for his area of specialization also can apply
- Scientists who have made major contributions in his field of study
- Specialists with 20 years of practical experience in their chosen field
- Applicants who are specialists in the fields significant to the UAE like Doctors, Health workers, scientists and Engineers
Requirements For Chief Executives
Must have a bachelor’s degree or its equivalent
Must have experience of 5 years and above
Must be earning a salary of 30,000 dirhams or more within the UAE and have a legitimate job contract
Must be covered by insurance.
Investors must have a lay down business plan that will be useful to UAE’s economy which must be approved by the UAE ministry of economy.
Procedures to obtain the Golden Visa
The procedures to obtain the UAE Golden Visa is a straightforward process. It’s very easy, but you need to make sure that you have your documents ready since you have to submit them too. There is also need to comply with the requirements terms and conditions.
Below are the step- by- step process you must follow to apply:
- Visit:- https://business.goldenvisa.ae
- Apply to be nominated.
- Your application will take 30 days to be reviewed by the UAE Authorities.
- After the review, You’ll receive an email informing you about the outcome of your application
- If your nomination was approved, a link will be sent to your email where you have to upload the documents
- The UAE Federal Authority for Identity and Citizenship Verification will further verify your application.
- After the verification, the Authorities will issue you the Golden Visa.
Once your the golden visa is issued to you, and you arrive the UAE, you will start living your life as a resident and start receiving the UAE golden visa benefits.
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