The Golden Visa program was introduced in the UAE in 2019. The program was initially aimed at attracting investors from around the world, but recent changes have expanded the scheme, and have now made it possible for individuals from varied backgrounds to obtain extended residency and receive multiple benefits if they fulfill certain criteria.
If you are looking to get a golden visa of the UAE, then you will need to know the latest process and requirements. In this post, we will provide an up-to-date overview of what is required for a golden visa in UAE. So, if you are interested in getting a UAE golden visa, be sure to read this post!
Information about the Golden Visa of UAE
The Golden Visa of UAE is a residency permit that allows foreign nationals to live and work in the country. It is basically a renewable residence visa with a 10 year validity. There are many benefits to having a golden visa, including access to quality healthcare and education, as well as the ability to own property and start a business in UAE.
To be eligible for a golden visa of the UAE, you must meet the following requirements:
- You must be at least 21 years old
- You must have a valid passport from your country of citizenship
- You must have proof of financial stability, such as bank statements or income tax returns
- You must have health insurance that covers you in UAE
- You must have a clean criminal record
If you meet all the above requirements, then you can begin the application process for a golden visa in UAE.
Who can apply for a UAE Golden Visa?
The following foreign nationals can apply for a UAE golden visa:
- Investors
- Entrepreneurs
- Professionals such as doctors, engineers, and scientists
- Students
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Investors
The United Arab Emirates offers several options for foreign nationals who wish to invest in property. If you meet any of the following requirements, you may qualify for a Golden visa:
- If you choose to buy a property for at least AED two million
- If you acquire a loan from approved local banks and purchase a property
- Buy at least one off-plan properties from authorized local real estate firms in the UAE worth a minimum of AED 2 million.
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Entrepreneurs
It is possible for entrepreneurs to apply for a Golden Visa by fulfilling at least one of the conditions mentioned below:
- Having a business that generates annual revenues of at least AED one million and is registered as a small or medium-sized enterprise in the UAE
- Obtaining approval for a new business concept from an official business incubator, such as the Ministry of Economy or other competent local authorities.
- Establishing an entrepreneurial project that has been sold for a minimum of AED 7 million.
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Scientists
The Golden visa is available to researchers and scientists with outstanding achievements in their field. The Emirates Scientists Council must offer a recommendation for this visa. A Master’s degree or PhD in a range of fields including engineering, technology, life science, or natural science from the world’s best institutions, as well as significant research accomplishments, is mandatory.
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Exceptional talents
Golden visas are available to innovators, inventors and those who hold exceptional talents in vital disciplines such as art, culture, digital technology or sports regardless of their qualification or job status. A letter of recommendation or permission from a federal or local government department is required for this visa.
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Outstanding students and graduates
The Golden visa is available to high-performing children in secondary schools in the UAE, as well as outstanding graduates from UAE universities and the finest 100 institutions worldwide. The most important criteria are academic performance/cumulative average, year of graduation, and classification of the university degree.
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Professionals
Professionals or highly trained specialists in a wide range of fields, including medicine, science and engineering, information technology, business and administration, education, law, culture and social sciences may apply for the Golden Visa if they:
- Currently employed in the United Arab Emirates
- Hold a first or second occupational level as classified by the Ministry of Human Resources and Emiratisation
- Possess at least a bachelor’s degree or equivalent
- Earn a minimum salary AED 30,000 per month
If you need help with the Golden Visa process or requirements in UAE, please contact us at Smart Zone and we will be happy to assist you.
