All About UAE Golden Visa
- Created Date 2024-09-30 12:43:59
Looking for a long-term residency option in the UAE? The UAE’s Golden Visa has become a hot topic among expats and global professionals seeking stability and growth in the region. Introduced to attract top talent and investors, the Golden Visa offers a unique opportunity to live, work and study in the UAE without the need for a national sponsor. Let’s find out all you need to know about the UAE Golden Visa.
- What Is the UAE Golden Visa?
- Who Can Apply for a UAE Golden Visa?
- Application Procedure
- Abu Dhabi’s Golden Visa Nomination
- Benefits of UAE Golden Visa
- FAQs
What Is the UAE Golden Visa?
It is one of the types of UAE residence visas that allows foreign nationals to settle in the UAE and contribute to its thriving economy. It was introduced to promote the UAE as a hub for talent, investment, and innovation. That said, the Golden Visa is available for a select group of individuals, including investors, entrepreneurs, talented professionals, and students, among others.Under this program, visa holders can stay in the UAE for 5 or 10 years, depending on the type of eligibility and the visa is renewable.
Who Can Apply for a UAE Golden Visa?
The UAE Golden Visa caters to a wide group, and the requirements vary depending on the category of skilled and talented individuals. Let’s find out who can apply for the UAE Golden Visa.1. Investors
Investors who meet the financial criteria set for the Golden Visa can apply for it under different criteria:Public Investment Must have a business plan or idea and meet the following conditions:
A deposit of AED 2 million with an approved UAE investment fund. A valid commercial or industrial license with an investor capital of at least AED 2 million. Must not finance investments through loans. A letter from the Federal Tax Authority stating and confirming annual tax payments of no less than AED 250,000. Real Estate Investment You can apply for a Golden Visa for real estate investors if you own property worth at least AED 2 million, which is not financed by a loan.
Required Documents
Proof of investment (e.g., commercial licences, property ownership documents). A letter from the Federal Tax Authority. Proof of housing (ownership or rental contract).2. Entrepreneurs
Entrepreneurs must have a technical or innovative project and demonstrate financial backing. Eligible projects must be of a technical or future-oriented nature and:Project valuation should be AED 500,000 or more. Approval from a UAE-based business incubator or authority is required. Required Documents
Approval letters from an accredited auditor, business incubator or local authority. A valid passport, health insurance and proof of housing. Submission must be made through the approved business platform (AREA 2071 in Dubai or HUB71 in Abu Dhabi).
3. Outstanding Students and Graduates
Top students and graduates from UAE and foreign universities are eligible if:High school students have a GPA of 95% or more. University graduates maintain a GPA of 3.8 or above. Golden visa holder Required Documents Graduation certificates. Letters of recommendation from accredited educational institutions.
4. Professionals and Talented Individuals
Doctors, scientists, engineers, researchers, artists and professionals in fields like AI, biotechnology and computer engineering are eligible.Doctors and Scientists: Approval from the Ministry of Health and a recommendation letter from the Emirates Council of Scientists. Creative Individuals: An approved letter from the Department of Culture and Arts. Executives: Must have a degree, at least five years of experience and a salary of AED 50,000 or more.
Required Documents
Approval from the Ministry of Health or relevant authority. Letters of recommendation from recognised UAE bodies, such as the Emirates Council of Scientists Procedure to Apply for UAE Golden Visa The application process for the UAE Golden Visa is straightforward and can be done via online platforms provided by the Federal Authority for Identity, Citizenship, Customs & Ports Security (ICP) or through the General Directorate of Residency and Foreigners Affairs (GDRFA) in Dubai.Steps to Apply
Applicants can begin by registering on the ICP website or the ICP App (available on Google Play and App Store). Once logged in, fill in personal and professional details on the online form. Ensure that all required documents are uploaded in the specified format. Depending on the visa category, applicants must submit proof of eligibility, such as investment documents, academic records or letters of recommendation.Once the application is complete, pay the necessary fees through a secure online payment system. The relevant authorities will review the application, after which the visa will either be issued or further clarifications will be requested. Applicants can also check the visa status and after approval, they receive a multiple-entry visa to enter the UAE and complete any additional procedures. Receiving visa after approval
Service Fees
The service fees for this visa vary depending on the category and length of residency requested. For investors and professionals, fees can range from AED 2,800 to AED 4,000.Additional costs may include knowledge and innovation fees, medical exams and Emirates ID processing fees. Also, please note that the issuance fee increases by AED 100 every year.
On the other hand, the service fees can range from AED 3,800 to 4,800 when applying from outside the UAE.
Applicants are advised to check the ICP or GDRFA websites for the most up-to-date fee structures.
Abu Dhabi’s Golden Visa Nomination Service via TAMM
The Golden Visa nomination service via TAMM in Abu Dhabi is designed for talented and skilled professionals, investors and students who meet specific criteria. However, it should be noted that the applicant’s presence in the UAE is mandatory when applying for a Golden Visa nomination via TAMM.Once the nomination is granted, the applicant is directed to the ICP for application finalisation.
Required Documents
Applicants need to submit the following documents with their application:A passport copy
Residence visa
Medical insurance
Other required documents and terms of service, based on the individual’s category, are similar to those discussed above. However, for detailed terms and required documents, head over to the TAMM’s official website.
Process
Follow these steps to apply for an Abu Dhabi Golden Visa nomination:Visit the TAMM platform.
Fill out the Visa nomination form.
Submit the required documents.
Pay the application fee.
Upon review and approval, you can get the Golden Visa Nomination
Benefits of the UAE Golden Visa
This visa offers many exclusive benefits to entrepreneurs, investors and highly skilled professionals. This sets the stage for innovation, economic growth and talent retention. Here are some of the many benefits of the Golden Visa.1. No Sponsor Required
The Golden Visa does not require a UAE national sponsor. This results in more freedom and independence for the visa holder.2. Multiple Entries
Golden Visa holders receive a six-month multiple-entry visa to facilitate their stay in the UAE before the issuance of their residency visa.3. Long-Term Residency
Depending on the applicant’s category, the visa is issued for either 5 or 10 years, with an automatic renewal option.4. Family Sponsorship
Holders can sponsor their family members, including spouses and children, regardless of age. Additionally, the visa allows sponsoring a maid in Dubai, Abu Dhabi or other Emirates.5. Residence Outside UAE
Golden Visa holders can remain outside the UAE for more than six months without the risk of losing their residency status.6. Family Retention
In the unfortunate event of the primary visa holder’s death, family members can stay in the UAE until the end of their visa term.7. Business Advantages
For investors and entrepreneurs, the Golden Visa simplifies the process of establishing businesses and projects in the UAE, offering multiple incentives for economic growth.FAQs
1. Can I Apply for a Golden Visa Without Visiting the UAE? Yes, applicants can start the process online from their home country. They get a multiple-entry visa upon approval to facilitate travel to the UAE.2. Is Health Insurance Essential for Golden Visa Holders? Yes, applicants must have valid health insurance to cover themselves and any family members.
3. How Long Does the Golden Visa Application Process Take? The process typically takes 1-3 months, depending on the applicant’s category and the provided submitted documents.
With its long-term benefits and flexibility, the Golden Visa is an ideal gateway to make the UAE your home. With simple application processes and clear eligibility criteria, securing your future in the UAE couldn’t have been easier.
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Published Date
2024-09-30 12:43:59