As the UAE consolidates its position as one of the prime global business hubs, it continues to draw top talent with its strategically designed visa programs. In this edition, we are going to discuss the powerful UAE Golden Visa program, which has emerged as a transformative initiative.
The UAE government has come up with this visa to offer long-term residency to global tenants. While attracting top international talent, the country strives to foster an environment of innovation and inclusivity. This visa has been designed to attract professionals and entrepreneurs from various verticals, demonstrating the country’s commitment to build a world-class talent hub.
Overview of the Golden Visa Program
Introduced as a part of the vision of the UAE to enhance its global appeal, the UAE Golden Visa provides a long-term residency option for those looking to live, work, or study in the country. This program eliminates the need for an in-country sponsor and extends its benefits to family members. This makes it a highly attractive option for expatriates.
Key features of the Golden Visa of the UAE include:
- Multi-year renewable residence permits for 5 or 10 years
- The option to remain outside the UAE for more than 6 months while retaining residency
- Sponsoring spouses and children with no restriction on age
- Exclusive privileges like the option to sponsor unlimited domestic workers
- The assurance for family members to continue residing in the UAE if the primary visa holder expires
A Strategic Vision for the UAE
Under the leadership of Sheikh Mohammed bin Rashid Al Maktoum, the UAE Cabinet has strategically aligned the Golden Visa with the social and economic goals of the country. The program streamlines regulations and expands eligibility categories to strengthen the position of the UAE as a global destination for talent. It also aims to make its market flexible and competitive. Recently, the eligibility criteria for this visa have been simplified, ensuring that applicants from various professional and academic backgrounds can seamlessly process the permit.
Who Can Qualify for the UAE Golden Visa?
The government has tailored the UAE Golden Visa for a wide range of applicants. Each category needs to meet specific needs in terms of professions or qualifications to be eligible for the permit. These include:
1. Investors
Investors can qualify for a 10-year Golden Visa by fulfilling one of the following criteria:
- Depositing at least AED 2 million and confirming it through a letter from a recognized UAE investment fund
- Having a valid industrial or commercial license, along with a memorandum of association with a capital of at least AED 2 million
- An FTA letter stating that the investor contributed at least AED 250,000 annually in taxes
Additional requirements include ownership of the capital without having any loans and the proof of health insurance of the investors and their families.
2. Real Estate Investors (5-year renewable Golden Visa)
- A valuation certificate from the land department of the Emirate to confirm the ownership of property worth at least AED 2 million or above 2-year visa for real estate investment of min 750k AED
- The property must be purchased with a loan from an authorized local bank
3. Entrepreneurs (5-year golden visa)
- A verification letter from an auditor in the UAE confirming that the project is valued at least AED 500,000
- A letter from local authorities to validate the relevance of the project to technology or future sectors
- Endorsement from a recognized business incubator for establishing the project in the UAE
4. Outstanding Specialized Talents
This category includes exceptional professionals like doctors, scientists, inventors, artists, athletes, and those specializing in engineering and science. Based on the field, the requirements vary.
5. Executive directors
- A bachelor’s degree certified by the Ministry of Education
- A minimum of five years of experience in the same role
- A salary of at least AED 50,000 and a valid employment contract
6. Athletes
- A recommendation from the relevant sports authority or council
7. Engineering and Science Specialists
- A Bachelor’s or Master’s degree in a relevant field, approved by the Ministry of Education
- A valid work contract in fields like AI, biotechnology, data science, etc.
8. Humanitarian Workers
Those dedicated to humanitarian causes can qualify for a 10-year Golden Visa. This category includes:
- Members or employees of global or regional organizations with at least five years of service
- Individuals honored with humanitarian awards
- Those who have donated a minimum of AED 2 million to charitable organizations
9. Frontline Workers
Individuals working in essential services, including healthcare workers like nurses, lab technicians, and others who showed exceptional effort during emergencies like the COVID-19 pandemic, may be eligible for a Golden Visa. Their application must be supported by recommendations from relevant authorities.
Application Process Simplified
The UAE authorities have come up with the ‘One Touch’ Golden Visa service, which is a user-friendly platform to streamline the visa application and renewal processes. Applicants can use the ICP website or download the mobile app to access this service. Professional advisory experts can help you with a complete guide to ICP Smart Services in UAE.
Get Professional Assistance to Apply for the UAE Golden Visa
For skilled professionals and visionary entrepreneurs, the UAE Golden Visa opens the doors to a world of opportunities in the dynamic business hub. The country has introduced this forward-thinking approach to residency and global talent acquisition to attract prime talent from across the world.
Investors, entrepreneurs, or even students can apply for the Golden Visa. It is advisable to consult experienced visa advisory teams like the IMC Group to ensure a hassle-free path while obtaining this visa. Check out this guide to ICP Smart Services in UAE to gain further clarity on the Golden Visa application.
