Introduction
In a strategic move to bolster economic growth and attract foreign investments, the UAE introduced the 10-year Golden Visa residency for foreign investors in 2019.
This visa, extendable based on certain conditions, is available to investors who make significant contributions to various sectors. Let’s delve into the different pathways to obtain this coveted Golden Visa.
Related: The Dubai Digital Nomad Visa – How To Apply
Investor Categories
1. Investor/Partner
- Passport copy
- Trade license with partners’ appendix
- Financial report of the establishment for the last year
- Certificate from the free zone containing the investor’s financial data
- Bank statement of the establishment for the last six months
- Federal Tax Authority registration document
- Ownership proof of property (if any)
Related: Investing in Dubai: A Growing Trend Among Kenyans
2. Deposit Investor
- Passport copy
- Proof of ownership of a financial deposit of at least AED 2,000,000
- Proof of residence in the Emirate of Dubai
3. Real Estate Investor
- Passport copy
- Ownership of one or more properties valued at a minimum of AED 2,000,000
4. Tax Collection Investor
- Passport copy
- Letter from the Federal Tax Authority confirming annual tax contribution of at least AED 250,000
- Trade license with partners’ appendix
Application Channels
Digital Channels:
- Log in to the smart services system (UAE Pass or username)
- Fill in application data
- Pay the service fee (if any)
Customer Happiness Centre:
- Visit the nearest center
- Get an automated turn ticket
- Submit the application and required documents
- Pay the service fee (if any)
Amer Service Centre:
- Visit the nearest Amer Service Centre
- Get an automated turn ticket
- Submit the application and required documents
- Pay the service fee (if any)
Fees
- Residence permit fee: AED 1,100
- Knowledge Dirham: AED 10
- Innovation Dirham: AED 10
- Fee inside the country: AED 500
- Delivery: AED 20
Terms and Conditions
Investment Fund Investor
- Confirmation of a deposit of AED 2 million by a UAE-accredited investment fund
- Valid commercial or industrial license with a capital of at least AED 2 million
- Letter from the Federal Tax Authority confirming tax contribution
Senior Employees of Public Investments
- Confirmation letter from the investor in public investments
- Family members eligible for a 10-year Golden Visa
Real Estate Investor
- Letter from the Real Estate Registration Department in Dubai
- Family members eligible for a 5-year Golden Visa
Recent Changes and Updates to The UAE Golden Visa
In response to the surging demand for Golden Visas, the UAE government has introduced some notable changes, especially in the real estate category.
Property Investment Route
- No minimum down payment required
- Property value must be AED 2 million or more
- Spouses can jointly own a property
- Family members eligible for a 10-year Golden Visa
Golden Visa through Property Investment
Real estate remains a popular route for securing a Golden Visa. The Dubai Land Department facilitates the process through the following steps:
- Visit DLD’s Service Centres
- Submit required documents and pay fees
- Undergo a medical examination
- Visa stamping on the passport
Key Eligibility Requirements
- Total property investment of AED 2 million or more
- Property value can be financed through a loan
- No restriction on the number of domestic workers
UAE Golden Visa Program Overview
Since its launch in 2019, the Golden Visa program has witnessed significant growth, with over 100,000 visas issued by November 2022. The program encompasses various categories, catering to investors, professionals, students, and entrepreneurs.
Golden Visa for Salaried Professionals
For skilled professionals, meeting specific criteria opens the door to a Golden Residency Visa, offering stability and opportunities. The key conditions include a valid work contract, a minimum monthly salary of Dh30,000, and comprehensive health insurance coverage.
For Business Owners
Entrepreneurs have the option to establish companies in Free Zones or other areas within the UAE. Founders can obtain residence visas for three years, extendable up to 10 years by investing a minimum of $136,000 in their business or obtaining approval from a recognized business incubator.
Benefits of the UAE Golden Visa
The UAE Golden Visa program boasts a range of advantages, making it a highly sought-after long-term residence visa globally. Some key benefits include:
- No need for a local sponsor
- 100% business ownership
- Inclusive family and business partner sponsorship
- Unrestricted travel
- Healthcare and education opportunities
- Seamless application process
- Visas for the entire family
Related: What is The Best Time to Visit Dubai if You Are on a Budget?
Conclusion
The UAE Golden Visa stands as a testament to the country’s commitment to attracting global talent and fostering economic growth. With its flexible eligibility criteria and diverse investment routes, it continues to be a beacon for investors, professionals, and entrepreneurs seeking long-term residency in this vibrant and dynamic nation.