Are you dreaming of a golden retirement in the sun? Maybe you have already worked in your home country and are looking for a way to enjoy your retirement on a more exotic destination. If you are considering buying property abroad, you will want to know about some of the world’s best tax-free and low tax residency visa programs that give you a second residency in exchange for making an investment at home.
The golden visa program is one of the most popular residency programs in the world. Countries like Spain are accepting a large number of applicants every year and making them their lifelong residents. If you have a property worth half a million dollars and you have enough money to prove it, this is what the golden visa program is all about. If you have been thinking about obtaining residency in Spain, there are many facts that can help you choose this option over others. You must keep in mind some very important factors while purchasing or renting your property or just owning a home in Spain as a foreigner.
How Can I Get Golden Visa In Uae
What is the Golden Visa UAE?
The Golden Visa is a long-term residency visa which enables foreign talents to live and work or study in the UAE for up to 10 years. This golden residency scheme is renewable and reserved for certain categories ranging from investors to individuals with exceptional talents.
Golden Visa UAE benefits and advantages
Some of the benefits of the Golden Visa in the UAE are as follows:
- an entry visa for six months with multiple entries followed by the issuance of residency permits
- a long-term, renewable residence visa valid for 10 years
- a self-sponsored visa
- ability to stay outside of the UAE for any amount of time without having their visa nullified
- sponsoring their family members, including spouses and children regardless of their ages
- sponsoring an unlimited number of domestic helpers
- allowing family members to stay in the UAE until the end of their permit duration in the event the primary holder of the Golden Visa passes away
Additionally, there are Golden Visa benefits specific to individual emirates as follows.
Abu Dhabi
- Golden Visa holders in Abu Dhabi will be entitled to discounts and offers on cars, property, health care, hospitality, health insurance and banking services. The Resident’s office has teamed up with companies across a range of industries to offer the incentives.
- under the Abu Dhabi Residents Office’s commercial partnerships, Abu Dhabi golden visa holders will be entitled to discounts on selected properties from developer Imkan Properties.
- banks, including Abu Dhabi Commercial Bank and First Abu Dhabi Bank, will offer real estate golden visa investors reduced mortgage fixed-interest rates and non-real estate investors attractive rates on savings accounts.
- the holders will also be entitled to reduced premiums on annual health insurance plans for families and individuals, with diverse network coverage and a bundle of benefits both inside and outside the UAE.
- Golden visa holders will also be eligible for price reductions on cars and will receive priority booking for new releases, in addition to special payment facilities, maintenance offers and licensing services.
- they will receive special offers for dining, spa treatments, gyms and stays at selected hospitality
Dubai
As stated by the authorities, foreign residents in Dubai who have a golden visa and a driving licence from their home country can now take a UAE driver’s test without needing extra lessons.
Additionally, if the golden visa holders have a licence from one of 32 approved countries, including the US, the UK, Australia, Italy, Saudi Arabia, South Africa, Spain, New Zealand, Qatar, Kuwait and Ireland, they will automatically be eligible for a UAE driver’s licence.
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Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has announced that a 10-year residency Golden Visa will be granted to outstanding expatriate students and their families in Dubai. They will also be given discounts to pursue their higher education in international university branches in Dubai.
Esaad privilege card
The Dubai Media Office has announced that Golden Visa holders in Dubai will be gifted the coveted Esaad privilege card. The card will be provided free of charge to holders of 5-year and 10-year Golden Visas in Dubai.
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Select categories of Golden Visa holders in Dubai will receive the Esaad card. These categories include
- Investors in public investment funds
- Real estate investors
- Entrepreneurs
- People with specialised talents and researchers in science and knowledge, such as scientists, doctors, specialists, inventors
- Creative people in culture and art
- Executive directors
- Specialised academics
- Professional sportspeople
- PhD degree holders specialising in engineering or science, humanitarian aid workers
- Outstanding university and high-school graduates
For details on what the benefits of the Esaad Card actually entail, please do refer to our dedicated article below.
Golden Visa insurance
Golden Visa holders can apply for a comprehensive insurance cover that could range between AED 2,000 – 50,000 depending on several factors such as age, health, hospitals/clinics covered etc. The National Health Insurance Company (Daman) has introduced health insurance packages for Golden Visa holders which is valid for 1 year and can be renewed on a yearly basis. Premiums for all insurance plans will vary according to age and the plan option chosen.
Golden Visa UAE application and eligibility
All interested individuals who would like to apply for the Golden Visa may do so by applying for the visa online at the ICA smart services platform. The process is quite straightforward with candidates required to submit the necessary documents and be willing to relocate to the UAE in accordance with their business venture.
Golden Visa UAE eligibility
As for eligibility, generally speaking, investors, entrepreneurs, people with specialized talents, researchers in various fields of science and knowledge, and outstanding students displaying promising scientific potential are eligible to apply for the Golden Visa.
Other categories include individuals who are nominated for the Golden Visas by distinguished Emiratis or government institutions and those who apply online. Individuals investing AED 2 million in property may also be eligible.
As per the Official Portal of the UAE Government, those eligible for the Golden Visa are as follows:
Golden Visa UAE for property investors
Real estate investors may obtain the Golden Visa if they fulfil one of the following conditions:
- purchase a property worth no less than AED 2 million, or
- purchase a property with a loan from specified local banks, or
- purchase one or more completed or off-plan properties no less than AED 2 million from a list of approved local real estate companies
Golden Visa UAE for entrepreneurs
Entrepreneurs may obtain a Golden Visa if they fulfil one of the following conditions:
- owner or partner in a start-up registered as a small and medium enterprise (SMEs) in the UAE with the company generating annual revenues of not less than AED 1 million, or
- obtain approval for a start-up idea from an official business incubator or from the Ministry of Economy or other competent local authorities, or
- have founded an entrepreneurial project that was sold for a total amount of not less than AED 7 million
Golden Visa UAE for exceptional talents
Inventors, innovators, and exceptional talents in vital fields such as culture, art, sports and digital technology can obtain a Golden visa regardless of their educational qualification, employment status, monthly salary or professional level. The visa requires a recommendation or approval from a federal or local government entity.
Golden visa UAE for Scientists, engineers and professionals
Scientists
Scientists and researchers with high achievements and influence in their field can get the Golden visa based on a recommendation from the Emirates Scientists Council. A candidate should have a PhD or a Master’s degree in one of the disciplines of engineering, technology, life sciences and natural sciences from the best universities in the world, as well as substantial research achievements.
Engineers
Those holding engineering degrees from a leading university, accredited by the UAE Ministry of Education in the field of science as specified below may apply for the Golden Visa in Abu Dhabi.
- Epidemiology and Virology
- Artificial Intelligence (AI)
- Big data
- Computer engineering
- Electronics
- Software engineering
- Electrical engineering
- Genetic engineering
- Biotechnology engineering
The Specialists in Science and Engineering Golden Visa includes the sponsorship of spouses and children.
Professionals
Professionals or highly-skilled workers with high educational qualifications and professional experience in all disciplines, including medicine, sciences and engineering, information technology, business and administration, education, law, culture and social sciences can get the Golden Visa if they:
- have a valid employment contract in the UAE
- are classified in the first or second occupational level as per the classification of the Ministry of Human Resources and Emiratisation
- hold a Bachelor’s degree or equivalent
- have a monthly salary of not less than AED 30,000
Golden visa UAE for students
High-performing students in the UAE’s secondary schools and outstanding graduates from the UAE’s universities and the best 100 universities worldwide are eligible for the Golden Visa. Criteria include academic performance/cumulative average, year of graduation and the university classification.
Golden Visa UAE for humanitarian pioneers
Humanitarian pioneers such as the following can get the Golden visa:
- distinguished members of international and regional organizations
- outstanding members of associations of public benefit
- recipients of recognition awards in humanitarian fields
- distinguished volunteers and sponsors of humanitarian efforts
Golden Visa UAE for doctors and nurses
The UAE has been granting doctors and nurses, the first line of defence, a long-term residency in “recognition of their efforts and sacrifices”.
All doctors licensed by the UAE health regulatory bodies can apply for the Golden Visa between July 2021 and September 2022 through the ICA’s golden residency services for doctors.
As of late, nurses and medical staff, the unsung heroes of the UAE’s COVID-19 fight, are now also eligible for receiving the prestigious Golden Visa.
Seven centres affiliated with the Federal Authority for Identity and Citizenship have been established across the Emirates for doctors and nurses who wish to apply for visas in person.
Golden Visa UAE price
The cost of the UAE Golden Visa largely depends on the type of service and visa category. For individuals applying from the UAE, the Golden Visa will cost between AED 2,800 and AED 3,800. Those applying outside the country will be charged anywhere between AED 3,800 and AED 4,800.
Golden Visa UAE validity
As mentioned, the holders of the UAE Golden Visa can stay outside the UAE for as long as they need without worrying about losing their residency. Previously, they were only allowed to spend 6 months outside the UAE before they lose their residency.
Golden Visa holders can sponsor their family members, including their spouses and children, regardless of age. They have the ability to sponsor an endless number of support services (domestic help).
Other privileges for family members is including the ability to remain in the UAE if the Golden Visa holder passes away till the end of their residence permit.