Latest Updates and Policies on the UAE Golden Visa
The United Arab Emirates (UAE) has introduced a game-changing initiative, the Golden Visa, offering long-term residency to qualified individuals and their families. This program has undergone recent updates and expansions, making it even more attractive for foreign investors, entrepreneurs, and talented professionals. In this blog, we will explore the latest rules of the UAE Golden Visa and how it opens up new opportunities for those seeking to establish their lives and careers in this dynamic nation.
What is the UAE Golden Visa?
The UAE Golden Visa is a comprehensive long-term residency program designed to provide qualified individuals and their families with an array of benefits. With a validity of up to 10 years, this visa enables recipients to enjoy the privileges of living, working, owning property, and conducting business in the UAE. In addition, compared to traditional visas, the Golden Visa offers numerous advantages, such as relaxed residency criteria, attractive tax incentives, access to top-notch healthcare and education services, and a host of other opportunities that contribute to an enhanced quality of life.
Updated Requirements As Per the Latest UAE Golden Visa Rules
The requirements for obtaining a Golden visa vary depending on the type of residence, such as an investor, talent, entrepreneur, etc.
Investors in public investments
Investing in an investment fund can lead to obtaining a Golden Visa for 10 years without requiring a sponsor. However, certain conditions apply.The investor needs to provide a letter from a UAE-accredited investment fund stating that they have deposited AED 2 million, or:
Provide a valid commercial or industrial license and a memorandum of association confirming your capital is over AED 2 million.
Submit a letter from the Federal Tax Authority stating that the investor pays a minimum of AED 250,000 to the government every year.
Real estate investors
If you own one or multiple properties, you may qualify for a Golden visa that is valid for 5 years and can be renewed under the same conditions without a sponsor. The conditions include:
Submission of a letter from the land department of the emirate confirming your ownership of one or more properties valued at a minimum of 2 million dirhams.
Provision of documentation demonstrating that the property was purchased using a loan from one of the local banks approved by the relevant local authority.
Entrepreneurs
Entrepreneurs have the opportunity to apply for and acquire a UAE Golden Visa by fulfilling one or more of the following conditions:
A UAE-based auditor stated that the value of the project stands at a minimum of 500,000 dirhams
The authorities in the emirate verify that the project is either technically advanced or has a futuristic aspect to it.
An officially recognized business incubator in the UAE that can help set up the proposed business activity in the country.
Outstanding specialized talents
Individuals possessing exceptional talents, including inventors, innovators, and individuals excelling in critical domains such as culture, art, sports, and digital technology, can apply for and acquire a UAE Golden Visa.To obtain the visa, a recommendation or approval from a federal or local government entity is required, highlighting the exceptional talent and contributions of the applicant. This visa category recognizes and welcomes individuals who bring significant value to the UAE through their extraordinary abilities, promoting a diverse and vibrant society.
Doctors and scientists
Doctors who have obtained an approval letter from the Ministry of Health and Prevention in the UAE, permitting them to practice the medical profession.
Scientists present either a letter of recommendation from the Emirates Council of Scientists or a letter from the Secretariat of the Mohammed bin Rashid Medal for Scientific Excellence. The letter should verify that they have been honoured with the Medal of Scientific Excellence.
Executive Directors
A salary certificate that states a minimum salary of AED 30,000.
A copy of the applicant’s bachelor’s degree (minimum) that the Ministry of Education has accredited.
A valid work contract.
A letter of experience that confirms the applicant held the same position for at least 5 years.
Outstanding Students
Outstanding students and high achievers within the UAE’s secondary school system, as well as exceptional graduates from local universities, have the opportunity to apply for the Golden Visa. Additionally, this eligibility extends to high achievers graduating from the top 100 universities worldwide.However, certain stipulations must be met, including considerations of academic performance, cumulative grade average, year of graduation, and university classification.Students with a GPA of 3.8 or higher from renowned universities worldwide are eligible to apply for the Golden Visa. Similarly, high school students who have attained an average rate of at least 95 percent in their high school certificate from public or private schools are also eligible.
Specialists in Engineering and Science
Under this category, the applicant must provide a certified copy of a Bachelor’s or Master’s degree issued by the Ministry of Education and a copy of a work contract.
Pioneers of humanitarian work
Humanitarian pioneers are eligible to apply for the prestigious UAE Golden Visa. These pioneers are considered distinguished members of international or regional charitable organizations and valued members of associations dedicated to public benefit.Furthermore, recipients of awards in the humanitarian and charitable sectors are recognized as eligible for the Golden Visa. Additionally, acknowledged volunteers who actively contribute to humanitarian, crisis, and charitable efforts are also eligible for this special visa.
Frontline heroes
Frontline healthcare workers, including nurses, medical assistants, lab technicians, and pharmacologists, who have exhibited exceptional dedication and contributions during challenging times such as the COVID-19 pandemic, may qualify for a Golden Visa. The eligibility criteria include obtaining a recommendation from a competent authority acknowledging their commendable efforts.
About Smart Zone
At Smart Zone, we understand the complexities of each immigration matter and are here to help you with your Golden Visa application. Contact us today, and our team of experienced professionals will gladly assist you with all your visa needs.
