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 companies can have 100 per cent ownership of their business in the UAE.
UAE Golden Visa Explained: 10 Things You Should Know
Our team will explain UAE Golden Visa in detail and everything you need to know before applying, like eligibility requirements, procedures and benefits.
1.Duration of the Visa
The UAE golden visa is initially granted for 5 and 10 years, and these two periods are meant for different kinds of applicants. The 10-year Visa is offered to investors, doctors, programmers, and individuals with unique talents, whereas the 5-year Visa is provided to entrepreneurs, real estate investors and outstanding students. However, these visas are renewable, and 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, which means that you do not need a reevaluation when your Visa expires. All you have to do is make sure you meet the described requirements, and your Visa will undoubtedly be renewed.
3.UAE Golden Visa Eligibility for 10-Year Visa
The 10-Year Golden Visa is offered to investors, doctors, programmers, and individuals with unique talents. The eligibility requirements for each of these occupations are different.
*Eligibility Requirements for Investors
UAE is an excellent destination for investors because they offer a non-complicated policy 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 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 via the website between July 2021 and Sept 2022.
*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 use via the Federal Authorities 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 be eligible for a 10-year visa provided they have accreditation’s from registered entities in their field. If you are a creative creator, check with the ministry of culture and youth to know if you are qualified.
4.UAE Golden Visa 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 are mostly the same as that of investors in general. The only difference is 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 Authorities 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 unique talents also includes their dependents, which 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 visit the Federal Authority for Identity and Citizenship website. This application process is pretty straightforward, and you will be asked to submit the necessary details and documents. The candidate must be willing to relocate to the UAE along with their capital.
8.Outstanding Students can Also Apply
The UAE economy is vast and diversified, so it needs a skilled workforce. Students with exceptional performance in high school and university are eligible for the 5-year Golden Visa. High school students who rank above 95% of the students in their country are encouraged to apply. Upon graduation, graduates from the top 500 universities with GPAs above 3.75 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.The procedure may cost you more, depending you apply yourself, with an agency or a lawyer.
10.The Thrive in Abu Dhabi initiative
The Thrive in Abu Dhabi Initiative is a program aimed to encourage international 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 Dhabi vs Dubai for expats to help you be ready to move to UAE with no expected problems.
UAE Golden Visa FAQs
Let’s answer the most questions about this visa program:
What Are the Benefits of UAE Golden Visa?
- Residence permit for five or ten years, renewable automatically.
- Entrepreneurs and programmers with golden residency will enjoy an easy access to a lot of facilities and financing options sponsored by the government.
- It makes it easier for individuals and their families to settle in the country.
- The long-term visa includes: the wife and children, and in the case of outstanding students, it can be extended to their families as well.
- The opportunity to come to work, live, study and invest in the country, and own 100%.
What Are the Disadvantages of UAE golden visa?
The only disadvantage of this system is that it is only intended for entrepreneurs, creators and highly skilled workforce. The world is competing to attract qualified engineers, doctors, and creative creators, so it is expected in the future that the conditions will become less stringent to satisfy the booming economy of the UAE.
Conclusion
The UAE Golden Visa Program is a new system that allows foreigners to live, conduct business, work, and study without 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 specific eligibility criteria.
