Everything you need to know about Golden Visa UAE

Introduction 

The United Arab Emirates has become a top-rated destination to work, travel and settle down. Many foreigners wish to live and work here because of its ever-growing economy. This increased demand has let the UAE Government take one of the most enticing measures, which is the introduction of The UAE Golden Visa. It has been effective since 2019, intending to provide long-term resident visas for individuals and keep talented people in the nation.

The UAE Golden Visa benefits its people, regardless of whether they want to move to Dubai, Abu Dhabi, or any other region of the Emirates. They can efficiently work, live and study without having to worry about the immigration process. From business people to investors to students to humanitarian trailblazers, all can now stay and operate in the UAE through this visa as long as they meet the eligibility criteria and qualify. We are here to resolve all your queries related to the UAE golden visa. Read further to know. 

What is a Golden Visa?

The UAE Golden Visa, introduced in 2019, is a ticket to enable people from worldwide to live, study and work in the UAE without the need for a local sponsor. Any foreigner who meets the requirement can apply for it and get a long-term resident permit. People like investors, business people, and students are the ones who most benefited from it. 

What is the eligibility criterion and requirements?

UAE Golden Visa possesses specific value, and they all want to obtain it when people learn how precious it is. It was initially made available to professionals with advanced degrees and investors. But it has grown to encompass various occupations and experts in multiple fields. Read about the eligibility and requirements below.

Investors

The detailed requirements for investors are mentioned below:

• An authorized letter confirming the deposit of 2 million dirhams
• Capital less than 2 million dirham- An industrial or commercial license 
• The personal investment of AED 2 million in the new or existing business
• Owner of a company that pays the government at least 250,000 dirhams a year.

Real Estate Investors

The people who invest in properties have the following requirements:

• Letter of assurance from the Emirate’s Real Estate Registration Department attesting to the owner’s ownership of unmortgaged property
• Property investment- minimum value of 2 million dirhams.
• Off Plan Properties Dubai
• Property for Sale in Dubai

Entrepreneurs

A technical or future project with a capital of at least AED 500,000 is required for entrepreneurs to qualify for the Golden Visa. They can also receive approval from an incubator for startups in the United Arab Emirates to start a business there.

Bright Students

The Golden Visa is also available to exceptional students with promising scientific abilities. To qualify for the UAE Golden Visa, 

• Must graduate from university with at least a 95% grade point average
• Must graduate from high school at an average GPA of 3.8
• Letter of recommendation from the Ministry of Education.

Doctors

A doctor must possess a letter of permission from the nation’s Ministry of Health to practice medicine.

Scholars

Every scholar must possess a letter of recommendation confirming that they receive the Academic Excellence Medal from the Emirates Council of Scientists or the Secretariat of the Sheikh Mohammed bin Rashid Al Maktoum Award for Academic Excellence.

People of culture and art

They require a letter of approval from the department of culture and the arts in the concerned emirate.

Executive Directors

The executive directors must have

• Diploma from one of the world’s top 500 colleges. 
• Valid job contract, at least five years of experience, and a salary of at least 50,000 dirhams.

Holders of doctoral degrees and specialists

Majors like artificial intelligence, big data, computer engineering, electronics, genetics, and biotechnology keep a special place in society. There are special requirements for the ones who have them. 

• A Ph.D., awards or certificates of appreciation in their field of expertise 
• Published articles or scientific books related to that field 
• Being a member of a relevant organization
• Job contract for a career 

The benefits of Golden Visa UAE

Golden visas essentially provide long-term residency, which is a significant advantage for those who regard the UAE as their final destination. This is why it has attracted the interest of many expats with aspirations to get permanent residency in the UAE. Many golden visa UAE benefits that can be gained by it are mentioned below.

• Outstanding students are eligible for both a student visa and a family visa (parents and siblings)
• The applicant’s close family can also acquire it
• Returns on investments are possible
• No stress about the renewal
• Saved time and effort that could have been spent on the immigration process
• Security and assurance of long-term residence 
• Long-term residency in the UAE for 5 or 10 years
• Rapid processing from application to receiving it

What is the application process?

The application process entirely depends on the category and whether you meet the eligibility criteria or not. Let’s watch the application process about the requirements people must meet for golden visas.

Registration

The first step that needs to be done is to register on the UAE’s Federal Authority for Identity and Citizenship website.

• Nomination

The next step is to apply for nomination. It will take 30 days for the request to be considered by the appropriate authorities. You will receive an email about the outcome.

• Publish your files

Once you receive an email about the confirmation of your nomination, you need to upload the required paperwork on the link provided in the mail.

• Get your visa 

After uploading the files, you will be able to get your visa once the ICA approves your application.

A temporary one-month visa will be issued to people who are already residing in the UAE. This is because they will need to change their quick access into the residency period, and they only have this period.

Queries related to the Golden Visa UAE

If there is still any query left, continue reading to resolve them. Here are some of the frequently asked questions related to the gold visa UAE. 

• Is the golden visa application procedure the same as a regular resident visa?

The application process for the golden visa in UAE is different from that of a regular resident visa.

• Can I work in the UAE with a golden visa?

Usually, a person requires a work permit or a business license for anyone who wants to work in the UAE. But with a golden visa, you can be granted a work license by the government. 

• Am I able to apply from abroad?

You can apply for the golden visa even though you are currently outside of the UAE. However, you must first fill out an online application and submit payment for a multi-entry visa. After that, you can settle in the UAE.

• What is the cost that I have to bear?

The type of service and visa category have a big impact on how much the UAE Golden Visa costs. The Golden Visa UAE price for those submitting applications from the UAE ranges from AED 2,800 to AED 3,800.