In the year 2019, the UAE implemented the new residency system known as a Golden visa or long-term residence visa. This new system permits expatriates to live, work and study in the UAE without a local sponsor. This visa is valid for 5 or 10 years and will be renewed routinely. This flexible system becomes more comfortable for the ex-pats to gain long-term residency in UAE.
The UAE government provides Golden Visas to entrepreneurs, investors, bright students with promising scientific capabilities and specialized talents, and researchers in various fields of science and knowledge like researchers, medical professionals, etc. Let us examine who all are eligible for UAE Golden Visa.
Eligibility Requirements for a 10-year visa
Investors (Business Investors)
Investors in public investments of at least AED 10 million.
The investment may be:
- An investment of at least AED 10 million either in an investment fund or in a company inside the country.
Having a total investment of not less than AED 10 million in all areas mentioned, on condition that the investment in sectors other than real estate is not less than 60 percent of the total investment.
Offering a visa is subject to the below terms:
- The investment must not be loaned.
- The investment should be maintained for at least three years.
- There should be financial solvency up to AED 10 million.
Visas can include business partners, on the condition that each partner contributes AED 10 million, family, as well as one executive director and one advisor.
Investors from abroad may apply for a multiple-entry permit for a six-month period.
Individuals with Specialised Talents
Under this category, specialized talents and researchers in science and knowledge such as doctors, specialists, scientists, inventors, and creative individuals in the field of culture and art can obtain a 10-year visa. The visa can be extended to the partner and children. All categories are required to have a valid employment contract in a specialized field of priority in the UAE.
Scientists/ Researchers: Scientists must be accredited by Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence.
Artists: Creative individuals in the field of culture, fine arts, performing arts, heritage, literature, history, and knowledge-related sectors as well as intellectual and creative industries. This 10-year visa is also known as a cultural visa. And to get the visa, the individual must be accredited by the Ministry of Culture and Knowledge Development.
Inventors: Inventors with a patent of value that adds to the UAE’s economy and the patents must be approved by the Ministry of Economy.
Executives: Executives must be owners of a leading and internationally recognized company or high academic achievement and position holders.
Doctors and Specialists: must meet a minimum of two of the following conditions:
a Ph. D. degree from one of the top 500 universities in the world (refer to ICA for information)
- an award or certificates of appreciation in the field of the applicant’s work
- contribution to major scientific research in the respective field of work
- published articles or scientific books in distinguished publications in the respective field of work
- membership in an organization related to the field
- a Ph. D. degree, in addition to 10-year professional experience in his field
- specialization in areas of priority to the UAE.
For eg: to overcome the shortfall of medical professionals in the country during the pandemic, the authorities have decided to offer a 10-year long-term visa for doctors who are specialized in viral epidemiology.
Eligibility Requirements for a 5-year visa
Investors in a property in the UAE (Real Estate Investors)
Offering a visa is subject to the below terms:
- The investor must invest in a property of a gross value of not less than AED 5 million.
- The amount invested in real estate must not be on a loan basis.
- The property must be retained for at least three years.
From the time of its formation, UAE has embraced entrepreneurs pursuing their ambitions. Individuals having an ongoing project with a minimum capital of Dh 500,000 or having the approval of an accredited business incubator in the country. The entrepreneur is permitted a multi-entry visa for six months, renewable for another six months to complete long-term residency procedures. The long-term visa includes the partner and children, a partner, and three executives.
This includes exceptional high school and university students.
High school students with a minimum grade of 95 percent in public and private secondary schools
University students within and outside the country having a distinction GPA of at least 3.75 upon graduation.
The long-term visa includes families of outstanding students.
How much for Golden Visa?
The cost for 10 year and 5-year golden visas are AED 1,150 and AED 650 respectively.
How to apply for a Golden Visa?
To apply for a golden visa card is quite straightforward but it will be better if you consult an agent like Bytes to get your golden visa. Our consultants experienced in this field will guide you to the right program and help you to obtain your golden visa with minimum time.
For more information, contact us now!