The UAE Golden Visa was first implemented in 2019, and since then, it has generated a lot of interest among people who wish for permanent citizenship in the UAE. Since its initialization, UAE has granted the Golden Visa to 100,000 business owners, entrepreneurs, and startups.
This Visa is of great interest to expatriates all over the globe because it allows you to live, work, study, and conduct business in the UAE without the need for a national sponsor. Not only this but expatriate investors and businesses can have 100 per cent ownership of their business in the UAE.
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10 Facts About UAE Golden Visa You Should Know
In the following guide, our team have compiled a list of the facts in details you need to know about before you apply for the UAE Golden Visa.
1.Duration of the Visa
The UAE golden visa is granted initially for the duration of 5 and 10 years. These two categories are meant for different kinds of applicants. The 10-year Visa is offered to investors, doctors, programmers, and individuals with special talents, whereas the 5-year Visa is offered to entrepreneurs, real estate investors and outstanding students. These visas are renewable, however. You can potentially stay for much longer than your initial visa duration.
2.UAE Golden Visa Gets Renewed Automatically
The Golden Visa gets renewed automatically! This means that you do not need a reevaluation when your Visa gets expired. There will be no interview conducted renewal; you have to meet some conditions, and the Visa will be renewed automatically. No reevaluation means you will not have to worry whether you’ll pass the reevaluation; the renewal of the Visa is solely dependent on whether you meet the given conditions. This makes the renewal more determinate and gives you more control over the renewal. All you have to do is make sure you meet the described conditions, and your Visa will certainly be renewed.
3.Eligibility for 10-Year Visa
The 10-Year Golden Visa is offered to investors, doctors, programmers, and individuals with special talents. The eligibility requirements for each of these occupations are different. The different eligibility requirements for these occupations are provided below.
*Eligibility Requirements for Investors
UAE is a great destination for investors because they offer a non complicated policies and smoothy offshore banking, below the requirements:
- An investor must have 10 million Dirham worth of public investment. The amount could be in the form of a company, a business partnership or an investment fund.
- At least 60 per cent of the total investment must not be in the form of real estate.
- The investor must have full ownership of the invested amount. The amount must not be loaned.
- The investment must be retained for at least three years.
*Eligibility Requirements for Doctors
- All doctors registered and licensed by the UAE health regulatory bodies are eligible for long-term residence in the UAE.
- Doctors can apply for a Golden Visa between July 2021 and Sept 2022 via the website.
UAE has established seven subsidiaries of the Federal Authority for Identity and Citizenship all over the UAE for those doctors who wish to visit these centres and apply in person instead of via the website.
*Eligibility Requirements for Programmers
UAE offers the Golden Visa for programmers of all ages and nationalities. Both UAE residents and non-residents can apply for the UAE Golden Visa. Programmers can apply via the Federal Authority for Identity and Citizenship or the Office of Artificial Intelligence.
The programmers with the following characteristics are encouraged to apply for the Visa.
- A programmer who is a distinguished expert in their field with proven success in various aspects of programming.
- A programmer who works for a recognizable international technology company.
- Graduates in computer science, software engineering, information technology, artificial intelligence, big data, data science, hardware engineering, and electrical engineering.
This project is in collaboration with reconvened technological firms such as Google, Microsoft, Facebook, Amazon, Cisco, IBM, HPE, LinkedIn, and Nvidia.
*Individuals with Other Specialized Talents
Other individuals with specialized talents and qualifications that are encouraged to apply are scientists, researchers and artists. These individuals will are eligible for a 10-year visa provided they have accreditations from registered entities in their field.
4.Eligibility for 5-Year Visa
The 5-year Golden Visa is offered to real-estate investors, entrepreneurs and outstanding students. Here are the eligibility requirements for each of these.
*Eligibility Requirements for Real estate investors
The eligibility criteria for real estate investors is mostly the same as that of investors in general, the only difference being that the real estate investor must have at least 5 million Dirham worth of public investments.
*Eligibility Requirements for Entrepreneurs
Entrepreneurs who have either of the following are edible for a 5-year renewable residency visa.
- The entrepreneur has a capital of at least 500,000 in the form of an existing project
- The entrepreneur has the approval of an officially recognized business incubator inside the UAE.
5.The Golden Business Visa
The Golden Business Visa is a program meant for those individuals who wish to set up a business in the UAE. These individuals are encouraged to apply for a 5-year residency via the Golden Business Visa program. You can apply for the Golden Business Visa on the Federal Authority for Identity and Citizenship website.
6.The Long-Term Visa Includes Spouse and Children
The 10-year Visa for investors, doctors, programmers and individuals with special talents also includes their dependents. This means they can live in the UAE with their spouse and children. For investors, the Visa also includes the residence of one executive director and one advisor.
The 5-year Visa for real estate investors and entrepreneurs also includes the residence of their spouse and children.
7.How to Apply for the Golden Visa
Anyone who wishes to apply for the UAE Golden Visa can do so by visiting Federal Authority for Identity and Citizenship website. This process is application is fairly straightforward. You will be asked to submit the necessary details and documents. The candidate is required to be willing to relocate to the UAE along with their capital.
8.Outstanding Students can Also Apply
Students with exceptional performance in high school and university are eligible for the 5-year Golden Visa. High school students who rank above 95% per cent of the students in their country are encouraged to apply. Graduates from the top 500 universities with GPA above 3.75 upon graduation are also eligible.
9.How much does the Golden Visa Cost?
The 5-year UAE Golden Visa costs 650 Dirham, whereas the 10-year Visa costs 1150 Dirham. In USD, the 5-year Visa costs about $175, and the 10-year Visa costs about $310.
10.The Thrive in Abu Dhabi initiative
The Thrive in Abu Dhabi Initiative is a program aimed to encourage foreign students and business personnel to move to Abu Dhabi. It provides long-term visas and paths to citizenship to wishful candidates. Our team posted a guide to compare living in Abu Dhai vs. Dubai for expats in order to help you being ready to move to UAE with no expected problems.
The UAE Golden Visa Program is a new system that allows foreigners to live, conduct business, work and study in the UAE without the need of a national sponsor. The Visa is offered for 5-year and 10-year durations for investors, doctors, programmers, individuals with specialized skills, real estate investors, entrepreneurs and students as long as they meet certain eligibility criteria. The application process is quite straightforward and is done through the Federal Authority for Identity and Citizenship website.