Everything you need to know about UAE Golden Visa
The United Arab Emirates is a developed country, with a strong economy, in addition to providing an ideal commercial and economic environment for investors and entrepreneurs, and is characterized by its advanced infrastructure, which many international reports describe as among the best in the world, enhanced by professional expertise and a diversified economic base. Which gives this country a competitive advantage over other countries.
In addition, to people interested in starting a business or creating a new life, the UAE is one of the best regions in the world that has the best residency systems in the region.
In 2019, the UAE opened a new framework for long-term residence visas. The new framework allows foreigners to live, work, and study in the UAE without the need for a sponsor or spouse's support or with any other requirement and always have 100% responsibility over their business on the mainland of UAE. These golden visas are given for 5 or 10 years and are auto-renewed.
What is UAE Golden Visa?
The golden visa program initiated by the government of UAE is one of the most attractive residency programs offered. The golden visa program is available to investors and allows their holders to stay in the country and enjoy exclusive benefits, UAE golden visa aims to give long-term residence to a list of people. The government of Dubai gives golden visas to investors, professionals (engineers or doctors), property owners, students with promising capacities, and specific skillsets and expertise in different fields of science and information.
What are the perks of the Golden Visa?
Multiple-entry visa for a period of 6 months, subject to renewal, to start the procedures for this type of residency if the person is not inside the country.
Renewable residence for 10 years.
Golden residency does not require the presence of a guarantor or guarantor in the country.
It provides the possibility to issue residence visas for family members and support workers for similar periods.
The possibility of benefiting the children and family members sponsored by the holder of the golden residence in Dubai after his death and until the expiry of its validity.
It does not require attendance to the state every 6 months as was the case in the past, but its holder cannot come to the UAE for periods exceeding 6 months.
Eligibility Requirements to obtain the UAE Golden Visa
Property Investors
Real estate investors can apply for a 10-year Golden Visa in UAE if they have an investment into properties with a minimum of 2 million Dirham, regardless of property's value.
Brilliant and talented
They are a category of people who have exceptional talents or abilities, but they must first obtain the recommendation and approval of a federal or local authority to obtain golden residency in the country, in various fields, namely: the culture, Arts, Sports, digital technology, inventors, and workers in strategic areas important to the state.
Entrepreneurs
They are the category of investors in fields that are classified as small and medium-sized companies and businesses. There are conditions for this category.
Owning a company or a share in a pilot project registered in the country in the category of small and medium enterprises, with annual revenues of not less than one million dirhams.
As well as establishing and selling a company with a value of not less than 7 million dirhams, subject to the approval of the Ministry of Economy or other relevant authorities.
An approval of a business incubator and entrepreneurial projects on the idea of an entrepreneurial work.
Scientists and specialists
They are skilled workers with scientific training and expertise in all professions in the domains of medical, engineering, technology, science, education, law, culture, social, and other disciplines. They are scientists and researchers with accomplishments and impact in their fields of work and of course there are conditions.
Acquiring a license or work permit domestically.
Being included in the Ministry of Human Resources' classification of skilled workers at the first and second levels.
A bachelor's degree at the very least, and a remuneration of at least 30,000 UAE dirhams per month, or its equivalent.
The top-performing students
They are either recent graduates from prominent colleges in the UAE or universities that are among the top 100 worldwide according to well-known rankings.
Humanitarian entrepreneurs
They include people who hold leadership positions in public associations, work for international or regional organizations, have won awards for their work in the industry, and are volunteers in the humanitarian and charitable sectors.
First line of the defense (medical professionals)
They are people who work in the medical field to deal with crisis situations like the Corona pandemic.
The Other types of The UAE visas and Entry Permit
The UAE Government issues several types of visas and entry permits based on the purpose of your visit. Learn below about business, work, tourist, transit, student and retirement visas and eVisas for GCC residents.
Employment Visa
The organizations sponsor it for their employees. If a foreign national obtains employment in the UAE, they need a resident visa in order to live and work there legally. Any corporation from a UAE government body, the UAE mainland, or a Freezone jurisdiction may be the employer who sponsors the visa.
But processing the employment visa should be the first thing employers do before recruiting a foreign worker. In this manner, the visa will grant them entry to the UAE. They must complete the ID card biometrics upon entry in order to receive the resident visa and Emirate ID card. They must also submit to obligatory health checkups.
On the other hand, if the worker is already a resident of the country, the country application can be used to change the employee's visa status. For the issuing of the visa and Emirate ID card, the medical test required and completion of the ID card biometrics will not change.
The employment visa, which is sponsored by a mainland or LLC company, is only good for two years. A visa sponsored by a government agency or a free zone, however, is typically good for three years. After this time, renewals are possible.
Business Visas
For foreign nationals to apply for long-term residency for themselves and their dependents, they must have a business visa. Entrepreneurs from any other nation who have expertise in cutting-edge industries like new technology or business are eligible to apply for a business residency visa.
The Golden visa system includes business visas. With this form of visa, foreigners can get a long-term visa for both themselves and their dependents. This type of visa is open to prospective entrepreneurs from any foreign country who have expertise in cutting-edge fields or new technologies.
Visa for investors and partners
The Investors in UAE and Partner Visa, as its name suggests, is given to foreign nationals who buy stock in an existing company. These foreigners might own stock in expatriates who want to start their own company in the UAE. This visa's 3-year maximum validity period is extendable at the holder's discretion. Legally, the beneficiary is entitled to the advantages of residing and working in the UAE. Additionally, it will give them the power to sponsor their family members' visas.
When a foreign national opens their own company in Dubai or makes an investment in an existing company, the UAE issues them with an investor or partner visa.
The investor visa falls under 4 main categories as follows:
Real Estate Investor Visa
This category falls under the real estate investment section, in which a residential real estate unit must be owned with a value of not less than one million dirhams, provided that the value of the mortgage in it does not exceed 50% of its value, and if the property is owned by more than one person, then the share of each One million dirhams from the partners. This visa is issued for single residential properties only, which are completed and ready to move in, and does not apply to other commercial properties or that are under development or construction. The duration of the visa varies based on a number of requirements, ranging from 3 to 5 years, and even 10 years in some cases when the conditions required for this purpose are met, and it is automatically renewed, provided that the investor retains his ownership of the property. If the value of the property is more than 2 million dirhams, the investor can obtain a golden residence visa in Dubai for a period of 10 years.
Those wishing to obtain golden residency in Dubai, or in any of the emirates of the country, can invest in the growing real estate sector by owning properties in Dubai, apartments or villas, through mortgage calculator or mortgage loan services in the UAE and the best banks Financing, for example:
- Villas for sale in Dubai
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- Studio for sale in UAE
- Houses For Sale In Santorini DAMAC Lagoons
In general, we can say that the United Arab Emirates is a safe country for living and conducting business. It's a liberal country for all immigrants. The UAE provides benefits for immigrants, including all rights that other national residents are given to foreigners.
