The Untied Arab Emirates is a dynamic location for business, with Dubai as its most significant international city and financial hub. The Untied Arab Emirates (UAE) attracts a diverse range of individuals, including wealthy foreigners, talented researchers, outstanding students, doctors, specialists, innovators, athletes, entrepreneurs, and top investors.
The UAE Golden Visa is what allows these foreigners to settle in the United Arab Emirates. The UAE Golden Residency Program is valid for ten years and does not require a local guarantor.
The first step is to find one’s eligibility to apply for the UAE Golden Visa. Qualified individuals currently outside the United Arab Emirates are granted a 180-day visa on applying for Golden Visa from the date of arrival in the UAE. This allows the issuance of a visa for 6 months to complete the procedures for obtaining a golden residency for 10 years.
The requirements for the UAE Golden visa depend on the type of residence, whether investor, talent, entrepreneur, etc.
In public investments
If you invest in an investment fund, you may be granted a Golden Visa for 10 years without a sponsor, subject to the:
Submission of a letter from an investment fund accredited in the UAE stating that the investor has a deposit of AED two million, or
Submission of a valid commercial licence or industrial licence and a memorandum of association stating that the investor’s capital is not less than AED two million
Submission of a letter from Federal Tax Authority stating that the investor pays the government no less than AED 250,000 (two hundred and fifty thousand) annually.
Additionally, you must:
Own the invested capital completely; it must not be a loan and
Provide proof of medical insurance for himself and his family
Real estate investors
If you own a property or a group of properties, you may be granted a Golden visa for a period of 5 years, renewable on the same conditions and without a sponsor subject to the:
Provision of a letter from the land department of the respective emirate stating that he owns one or more properties whose value is not less than 2 million dirhams
Purchase of a property with a loan from specific local banks approved by the competent local entity.
Entrepreneurs
If you are an entrepreneur, you may get a Golden visa for 5 years if you own an economic project of a technical or future nature based on risk and innovation. In addition, you must have an approval letter from each of the following:
An auditor in the UAE who authorises that the project value is not less than 500,000 dirhams
The authorities in the emirate who authorises that the project is of a technical or future nature
An accredited business incubator in the UAE to establish the proposed activity in the country.
If you have an outstanding specialised talent, you may get a Golden visa for 10 years after meeting the requirements for each category. The list of outstanding specialised talent includes doctors, scientists, creative people of culture and art, inventors, executives, nurses, teachers, specialists in scientific fields, athletes, doctoral degree holders and specialists in the fields of engineering and science.
For doctors and scientists, there are additional requirements. They need an approval Letter from Ministry of Health and Prevention in the UAE to practice the profession of medicine (for doctors) and a letter of recommendation from Emirates Council of Scientists or a letter from Secretariat of the Mohammed bin Rashid Medal for Scientific Excellence stating that the applicant has been awarded the Medal of Scientific Excellence (for scientists).