The UAE Golden Visa scheme provides long-standing residency for those who belong to some particular groups, for instance: investors, entrepreneurs, individuals with exceptional talents like researchers, medical professionals and those within the scientific fields, and excellent students.

WHAT IS A GOLDEN VISA FOR UAE?

The golden visa is a scheme which was instigated by the United Arab Emirates in the year 2019 where they declared that permanent residency will be provided to the foreigners which further allows them to work in different occupations, reside and study in the United Arab Emirates (UAE) by owning 100 per cent of their business. The golden visa holders in UAE are exempted from necessitating a national sponsor.

AIM OF THE GOLDEN VISA

The main aim of the golden visa is to attract and bring foreign ventures to the mainland and advance the nation towards paramount. During the time of corona, there was a huge turmoil caused in UAE which further incited them to launch the golden visa scheme not only for their own benefit but would benefit the foreigners as well.

MERITS BESTOWED BY UAE GOLDEN VISA

• For those who belong to certain groups for instance: stockholders, entrepreneurs, individuals with exceptional talents like researchers, professionals in the medical field and those within the scientific fields, and excellent students, a long-term residency for up to 5-10 years is granted by the UAE.
• After expiry, the visa is automatically renewed. The UAE government made it very clear that their priority for those who issue golden visas will be security as they are dedicated to offering emigrants, investors and almost everyone looking forward to making UAE their home an additional reason to feel safe about their future.

REQUIREMENTS FOR THE APPLICATION OF GOLDEN VISA UAE

ELIGIBILITY CRITERIA FOR 5 YEAR GOLDEN VISA

CATEGORIES	CONDITIONS REQUIRED FOR PERMITTING A VISA
Investors in a property	1. The invested amount on a property must not be less than AED 5 million. 2. The amount invested should not be loaned, investors must take full ownership 3. Should be able to hold their investment for at least up to 3 years
Entrepreneurs	1. This class comprises those having a prevailing project with a minimum capital of AED 500,000 or those who have the agreement of a certified business incubator in the country. 2. A multi-entry visa facility for six months is allowed for the entrepreneur and can be renewed for another six months. The visa takes into account the spouse and children, a partner and three executives.
Outstanding Students	1. The excellent students should have a minimum of 95 per cent in public and private secondary schools 2. The GPA of University students within the nation and outside the nation must be at least 3.75 upon graduation. The visa incorporates the families of these students as well.

ELIGIBILITY CRITERIA FOR 10 YEAR GOLDEN VISA IN UAE

A 10-year UAE golden visa is applicable for the following categories:

1. Investors in public investments

• A credit of at least AED 10 million is necessary for an investment fund inside the country. A capital of less than AED 10 million is not acceptable.
• If an individual is interested in collaborating with a newly developed company or with a well-known already established company then it is obligatory for them to have a value of 10 million AED.
• 60 per cent of the amount that the individual is investing should not be in the form of a loan or property.
• The venture capital must be retained for at least 3 years and there should be solvency of up to 10 million AED.
• The partners from the firm can be counted in only if they are able to weigh in 10 million AED. The visa also covers children and companions in addition to the executive director and one advisor.

2. Persons with specialised mastery

The people with specialised talents and researchers in the fields of science and knowledge including doctors, experts, scientists, inventors, and individuals with creative minds. It is required to have a valid employment contract by all categories, in a specialised field of priority in the UAE.

• Scientists must be certified by the Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence.
• People who are innovative in art and culture are obliged to be acknowledged by the Ministry of Culture and Youth.
• The creators must acquire a copyright of specified worth which is sanctioned by the Ministry of Economy and helps in enriching the economy of the country.
• The talents of irreplaceable value must be recorded by patents or issued in a world-class journal.
• Administrators must hold a prestigious academic accomplishment or position and must be the titleholders of a foremost and internationally recognized company.
• At least two of the given conditions must be fulfilled by Doctors and specialists
  • He or she must obtain a doctorate from any university lying in the top 500.
  • The candidate must have obtained a credential of appreciation or honour in the arena of his work.
  • The aspirant should play a part in a major scientific study in their corresponding field of work.
  • The applicant should have a scientific book written under his name in well-known journals in their own field of work.
  • He or she must be an envoy of their association in relation to their field of work.
  • 10 years of specialized experience along with a doctoral degree.
  • The candidate must be aware of the areas of significance in UAE and should be expertise in the same.

HOW TO APPLY FOR UAE GOLDEN VISA?

The official website of the Federal Authority for Identity and Citizenship – ICA (the e Channel for Residence and Citizenship), or the General Directorate of Residency and Foreigners Affairs (GDRFA), which works under the supervision of the Ministry can be visited by interested people who want to apply for golden-visa.

ICA only offers online channels whereas, GDRFA offers both online and offline channels.

The price required for the UAE Golden Visa would be AED 650 for 5 years and AED 1,150 for 10 years (Note: The price may be varied time to time).

BONUS PLANS INSTIGATED BY UAE TO BRING IN FOREIGN RESIDENTS

UAE golden visa allows the students to bring in families as long as they can afford it. Dubai commenced an exceptional residency program in October 2020 that allows the non-nationals to continue to aid their staff in their home country while working from home.

A five-year renewable retirement plan was also launched by the UAE in the same year in September

For the non-nationals aged 55 or above living in the UAE. It is applicable to all those who have a monthly income of at least $5,500 and saving $275,000 or own a property in Dubai worth $550,000.

SOME BENEFITS OF THE GOLDEN VISA-UAE

• Incentives will be set up by the resident’s office with the help of companies across a range of industries in Abu Dhabi and visa holders will be authorized discounts on cars, property, health care, hospitality, health insurance and banking services.
• Discounts on selected properties from developer Imkan Properties under the Abu Dhabi Residents Office’s commercial partnerships.
• Special offers for dining, spa treatments, gyms and stays at selected hospitality destinations in Abu Dhabi will be arranged.
• They will be qualified to receive priority booking for new releases, in addition to special payment facilities, maintenance offers and licensing services.
• In Dubai, foreign residents who have a golden visa and a driving licence from their home country can now take a UAE driver’s test without needing extra lessons. In order to be eligible for a UAE driver’s licence, they need to hold a licence from some of the prominent countries that are approved by the UAE government. This list has 32 countries, including the US, the UK, Australia, Italy, Qatar, Saudi Arabia, South Africa, Spain, New Zealand, Kuwait and Ireland.

You may like:

• Canada Visitor Visa Requirements for Indian Nationals
• Singapore Visa Requirements for Indian Citizens
• France Visa Application Requirements for Indian Nationals