UAE Golden Visa Requirements Updates

In a bid to maintain its status as a global financial hub, the United Arab Emirates (UAE) has introduced updates to its Golden Visa program as of November 2023. This long-term residence visa aims to attract foreign investors, entrepreneurs, scientists, outstanding students, and other talented individuals, offering exclusive benefits and opportunities.

Exclusive Benefits of the Golden Visa:

1. Flexible Entry and Residence Options:

• Six-month entry visa with multiple entries for residence issuance.
• Long-term, renewable residence visa valid for 5 or 10 years.

1. No Sponsorship Requirement:

• Privilege of not needing a sponsor.

1. Extended Stay Flexibility:

• Ability to stay outside the UAE for more than the usual six-month period while keeping the residence visa valid.

1. Family Sponsorship:

• Ability to sponsor family members, including spouses and children of all ages.
• Ability to sponsor an unlimited number of domestic helpers.

1. Family Continuation in Case of Demise:

• Permit for family members to stay in the UAE until the end of their permit duration in case the primary visa holder passes away.

Golden Visa Requirements Based on Residence Type:

1. Investors in Public Investments:

• Investment Fund:
  • Letter from an accredited UAE investment fund confirming a deposit of AED two million.
  • Valid commercial or industrial license with a memorandum of association indicating an investor’s capital of at least AED two million.
  • Letter from the Federal Tax Authority confirming an annual payment of no less than AED 250,000 to the government.

2. Real Estate Investors:

• Property Ownership:
  • Letter from the land department stating ownership of properties valued at no less than AED 2 million.
  • Property purchase with a loan from specific local banks approved by the competent local entity.

3. Entrepreneurs:

• Economic Project:
  • Ownership of a risk and innovation-based economic project.
  • Approval letters from a UAE auditor, emirate authorities, and an accredited business incubator.

4. Outstanding Specialized Talents (10-year Visa):

• Professions Include:
  • Doctors, scientists, artists, inventors, executives, athletes, doctoral degree holders, specialists in scientific fields, and those in engineering and science-related domains.
• Requirements:
  • Meeting specific criteria related to expertise in designated fields.

Conclusion:

The UAE Golden Visa program, with its diverse eligibility criteria and extended benefits, stands as an attractive option for those seeking long-term residence in a country known for its economic opportunities and modern infrastructure. Whether you are an investor, entrepreneur, or a specialized talent, the Golden Visa offers a pathway to a prosperous and fulfilling life in the United Arab Emirates.