As per the new government scheme announced by UAE Ministry of Sheikhs, anyone who invests a minimum $1 million in UAE property will get permanent residence. It is one of the most lucrative programs of its kind with many parties dubbing it “the golden visa” program. Dubbed as the Golden Visa In Uae Benefits, more than 10 European and American countries are offering similar residence and citizenship schemes to attract foreign direct investment from wealthy investors to their economies.Many people who are not very familiar with UAE, mostly the expats and foreign residents in UAE don’t know much about Dubai visa, which is why we provide you some great information about Golden Visa rules to follow and how to get it with the help of our expert guidance.
Golden Visa In Uae Benefits
The UAE Golden Visa offers the highest investment but also comes with a very long bureaucratic process for obtaining residence. It is the best immigration program for those who have millions to invest as it offers excellent perks and benefits for getting visas to both Dubai and the entire United Arab Emirates.The ultimate goal of an aspiring investor is to enjoy a life of freedom and the most notable way to do so is with the help of a second passport. Just like the name, golden visa entitles its owner with a golden chance to live and travel across the globe without restrictions.
What is the UAE’s Golden visa?
The UAE’s ‘Golden visa’ is a long- term residency visa which enables foreign talents to live and work or study in the UAE while enjoying exclusive benefits which include:
- an entry visa for six months with multiple entries to proceed with residence issuance
- a long term, renewable residence visa valid for 10 years
- a self-sponsored visa, as there is no need for an employment sponsor
- ability to stay outside the UAE for more than the usual restriction of six months in order to keep their residence visa valid
- sponsoring their family members, including spouse and children regardless of their ages
- sponsoring unlimited number of domestic helpers
- allowing family members to stay in the UAE until the end of their permit duration, if the primary holder of the Golden visa passes away.
Who is the Golden visa for?
The Golden visa is for:
Real estate investors can obtain a Golden visa in the UAE if they fulfil one of the following conditions:
- purchase a property worth no less than AED two million or
- purchase a property with a loan from specific local banks or
- buy one or more off-plan properties of no less than AED two million from approved local real estate companies.
Entrepreneurs can obtain a Golden visa if they fulfil one of the following conditions:
- ·own or partner in a start-up registered as a small and medium enterprises (SMEs) in the UAE, and the company generates annual revenues of not less than AED one million
- ·obtain an approval for a start-up idea from an official business incubator or from Ministry of Economy or other competent local authorities
- must have founded an entrepreneurial project that was sold for a total amount of not less than AED seven million.
3. 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.
4. Scientists and professionals
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.
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 Ministry of Human Resources and Emiratisation
- hold a Bachelor’s degree or equivalent
- have a monthly salary of not be less than AED 30,000.
5. Outstanding students and graduates
High performing students in the UAE’s secondary schools and outstanding graduates from the UAE’s universities and the best 100 universities worldwide can get the Golden visa. Criteria includes academic performance/cumulative average, year of graduation and the university classification.
6. Humanitarian pioneers
Humanitarian pioneers such as the following can get the Golden visa:
- distinguished members of international and regional organisations
- ·outstanding members of associations of public benefit
- recipients of recognition awards in humanitarian fields
- distinguished volunteers and sponsors of humanitarian efforts.
Frontline workers with extraordinary efforts in crises, such as the COVID-19 pandemic can also get the Golden visa.
Aiming at attracting and retaining talents, the UAE updates the Golden Residence rules as a part of the new Entry and Residence Scheme. The scope of beneficiaries is expanded offering more benefits including 10 years renewable residence pic.twitter.com/WwWWBWh9jY