How To Get a Golden Visa in The UAE?

The UAE Golden Visa has become a highly sought-after document in the city, offering individuals the opportunity for long-term residency in Dubai, and surprisingly, it’s more accessible than you might imagine. Initially, the visa was reserved for those making exceptional contributions to the country, possessing high skill sets in specific fields, or working in specific industries. However, as of 2023, the eligibility criteria have expanded, potentially opening doors for a wider range of applicants.

What Is The Golden Visa In The UAE?

The UAE Golden Visa program is a prestigious residency initiative introduced by the United Arab Emirates government to attract high-net-worth individuals, investors, entrepreneurs, and talented professionals to the country. Under this program, eligible individuals and their families can obtain long-term residency visas, providing them with the opportunity to live, work, study, and conduct business in the UAE without the need for a local sponsor. 

This initiative supports the UAE’s commitment to maintaining a competitive business environment and positioning itself as a global center for talent, innovation, and investment. With its numerous benefits and flexible eligibility criteria, the Golden Visa has attracted significant interest from individuals seeking to establish a long-term presence in this promising region.

Owning a UAE Golden Visa grants you a significant advantage: five to ten years long residency, detachment from the constraints of specific employers and exclusion from the tiresome task of frequent renewal. This freedom extends to expatriates, encouraging them to reside, labor, and pursue education within the UAE without the requirement of a national sponsor, while also enjoying full ownership of their business ventures within the UAE mainland.

What Are The Golden Visa Benefits?

The UAE Golden Visa offers a lot of benefits besides just long-term residency, providing perks unavailable to standard UAE residency visa holders. These advantages include:

1. Prolonged residency rights: Golden Visa holders and their dependents enjoy residency for up to ten years, unlike standard visas that have to be renewed every two years.
2. No need for sponsorship: Golden Visa holders can live, work, and study in the UAE without needing local employment or sponsorship. They are self-sponsored and can live and work independently or for any company without the need for their sponsorship, unlike standard residency visas that strictly connect residency to employment.
3. Options to sponsor members of the family and unlimited domestic staff: Golden Visa holders can sponsor their spouses and children, regardless of age. If the main visa holder passes away, their family can stay in the UAE until the visa’s expiration. Additionally, holders can employ an unlimited number of domestic helpers.
4. Premium medical packages: As of late July, Golden Visa holders are eligible for special health care and insurance packages starting from under Dhs2,400, covering claims up to Dhs20,000,000. These plans, available in three levels—Core Silver, Enhanced Gold, and Premier—can be renewed annually.
5. Prolonged time outside the UAE: Golden Visa holders can spend extended periods outside the UAE without any impact on their visa’s validity, unlike standard residents’ visas which become nullified after six months abroad.
6. Dubai Police Esaad privilege card: Golden Visa holders can enjoy the benefits of the Esaad privilege card. This brings them discounts on various services including education, health, housing, dining, theme parks, and hospitality from more than 7,000 brands in the UAE and even 92 countries globally. Cost reductions extend to school fees, Burj Khalifa tickets, and hotel stays.

These comprehensive benefits make the UAE Golden Visa a highly attractive option for those seeking to establish a secure and prosperous life in the UAE.

What Are The Golden Visa Requirements?

After the recent changes to the UAE Residence and Entry Scheme, a wider range of individuals is encouraged to apply for a Golden Visa. To be able to obtain the UAE Golden Visa, you must first determine do you meet the requirements. Foreign nationals can apply for a Golden Visa if they fit inside one of the following categories: 

Real Estate Investors 

Real estate investors can qualify for the five-year UAE Golden Visa by purchasing property worth at least AED 2 million, and it is renewable under the same conditions. Recent updates as of January 24 state that the equity in the property is no longer a factor. Properties can be off-plan, completed, or mortgaged, and there is no minimum down payment required.

Investors in Public Investments

Investors can qualify for a ten-year Golden Visa if they make significant public investments, such as depositing at least AED 2 million in a company’s capital, partnering in a company with at least AED 2 million, or having a letter from the Federal Tax Authority confirming an annual tax payment of AED 250,000 or being a partner in a business that pays this amount. It’s important to highlight that your investment must be wholly owned by you, not borrowed.

Entrepreneurs

Entrepreneurs in the UAE are eligible for a five-year Golden Visa if they own an innovative economic project with a technical or futuristic nature, involving risk and innovation. The project’s value has to be at least 500,000 dirhams and an official business incubator in the UAE must support the establishment.

Outstanding specialized talents

Outstanding specialized talents include doctors of medicine, scientists, creative minds in culture and art, inventors, executives, specialists in scientific fields, athletes, holders of doctoral degrees, and experts in engineering and science-related disciplines like epidemiology, artificial intelligence, and genetics.

If you’re among these exceptional individuals, you could obtain a ten-year Golden Visa by meeting specific criteria. For example, for doctors, it’s all about securing an approval letter from the Ministry of Health and Prevention in the UAE to practice medicine. Meanwhile, scientists need a recommendation letter from the Emirates Council of Scientists or acknowledgment from the Mohammed bin Rashid Medal for Scientific Excellence.

Other talented individuals included: 

• Inventors
• Creative people in the fields of culture and art 
• Related services
• Executive Directors
• Athletes
• Specialists in engineering and science
• Outstanding Students
• Pioneers of humanitarian work
• Frontline heroes

How To Apply For A Golden Visa In UAE?

The ‘One Touch’ Golden Visa service is designed to simplify both the application and renewal process for the Golden Residence Visa, saving applicants time and effort. This comprehensive service assists with visa applications, issuance of other necessary visas, status regularization, issuance of residency and identity documents, and the renewal of all these documents in a single step. You can apply through the ICP website or the ICP App, available on Google Play and the App Store.

If you’re eligible for a UAE Golden Visa, you’ll need the following documents for your application:

• Original passport (valid for at least six months)
• Clear copy of the UAE resident visa cancellation document (if applicable)
• Original Emirates ID (if applicable)
• Clear copy of your UAE tourist visa with entry stamp (if you do not hold a UAE resident visa)
• Clear, color digital passport-size photograph with a white background
• Clear digital copy of personal bank statements from the last six months
• IBAN (International Bank Account Number)
• UAE mobile number

Check out Top 10 Reasons to Invest in Dubai

How long does the UAE golden visa last and can it be renewed?

The UAE Golden Visa has a duration of five to 10 years. And yes, it’s renewable, as long as the residence holder continues to meet the initial visa requirements.