The UAE Golden Visa system, which was put into place in 2019, has caused quite a stir among some expatriate groups with aspirations of obtaining permanent residency in the United Arab Emirates.
Foreign nationals can live, work, conduct business, and study in the UAE without needing a local sponsor thanks to the Golden Visa system. Additionally, the UAE allows foreign investors and business owners to hold 100% of their company. These visas will be issued for periods of five or ten years and will renew on their own.
You can find all the information you need about the UAE Golden Visa below, including the requirements, advantages, application process, and more.
What is a UAE Golden Visa?
A long-term resident visa known as the “Golden Visa” allows foreign nationals to dwell, work, or study in the United Arab Emirates for up to ten years. This renewable golden residence program is only available to a select group of people, including investors and those with remarkable talents.
Advantages and Benefits of UAE Golden Visa
The following are a few advantages of the UAE Golden Visa:
- a multiple-entry entrance visa valid for six months, followed by the issuing of residency permits
- a 10-year renewable long-term residency permit
- the self-sponsored visa
- the ability to leave the UAE for as long as they choose without having their visa revoked
- sponsoring their family members including spouses and children regardless of their ages
- sponsoring as many domestic helpers
- If the primary holder of the Golden Visa passes away in that case family members can stay in the UAE until the end of their permit duration
The following are additional Golden Visa advantages that are particular to certain emirates.
- Holders of a Golden Visa in Abu Dhabi will be eligible for special discounts and deals on things like real estate, healthcare, lodging, banking services, and automobiles. To provide the incentives, the Resident’s office has partnered with businesses from a variety of industries.
- Holders of Abu Dhabi golden visas will be eligible for discounts on a selection of properties from developer Imkan Properties under the commercial partnerships with the Abu Dhabi Residents Office.
- Real estate golden visa investors will receive discounted mortgage fixed-interest rates from institutions, such as Abu Dhabi Commercial Bank and First Abu Dhabi Bank, while non-real estate investors would receive favorable rates on savings accounts.
- The holders will also be eligible for discounted rates on annual family and individual health insurance plans with a variety of network coverage and a package of features both inside and outside the UAE.
- In addition to special payment options, maintenance discounts, and licensing services, holders of golden visas will also be entitled to lower automobile prices and priority booking for future releases.
- they will be given exclusive discounts for dining, spa services, workouts, and lodging at particular hotels.
According to the authorities, foreigners who reside in Dubai and hold a golden visa, as well as a valid driver’s license from their home country, are now eligible to take the UAE driver’s exam without taking additional lessons.
Additionally, individuals with golden visas will immediately qualify for a UAE driver’s license if they already possess a license from one of the 32 nations recognized, including the US, UK, Australia, Italy, Saudi Arabia, South Africa, Spain, New Zealand, Qatar, Kuwait, and Ireland.
Outstanding international students and their families will be granted a 10-year permanent Golden Visa in Dubai, according to Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. Additionally, they will receive discounts to continue their study at higher levels at foreign university branches in Dubai.
The Esaad privilege card
The coveted Esaad privilege card will be given to Golden Visa holders in Dubai, according to a statement from the Dubai Media Office. In Dubai, owners of 5-year and 10-year Golden Visas will receive the card at no cost.
The Esaad card will be given to a subset of Dubai’s Golden Visa cardholders. These groups consist of
- Public investment fund investors
- Investors in real estate
- People with specialized skills and expert researchers, including scientists, doctors, specialists, and inventors
- Creatives in culture and the arts
- Executive managers
- Specific academic fields
- Professional athletes
- Ph.D. degrees with a focus in science or engineering, humanitarian aid employees
- outstanding grads from college and high school
Please read the article devoted to the Esaad Card Benefits for more information.
Insurance for Golden Visa
Golden Visa holders have the option to apply for complete insurance coverage, which may cost anywhere from AED 2,000 to AED 50,000, depending on their age, health, the hospitals, and clinics covered, and other considerations. For holders of Golden Visas, the National Health Insurance Company (Daman) has introduced health insurance packages that are available for one year and can be renewed annually. Depending on your age and the plan type you choose, premiums for all insurance plans may change.
Application and qualifications for Golden Visa UAE
Anyone who is interested in applying for the Golden Visa may do so by submitting an online application using the ICA smart services platform. Candidates must submit the relevant paperwork and be prepared to relocate to the UAE in order to pursue their business venture, which is a very simple process.
Qualifying for a UAE Golden Visa
According to general guidelines, those who are qualified to apply for the Golden Visa include investors, business owners, persons with specialized skills, researchers in many sectors of science and knowledge, and exceptional students who exhibit promising scientific potential.
Other categories include those who apply online and those recommended for Golden Visas by notable Emiratis or official organizations. Those who invest AED 2 million in real estate may also qualify.
According to the UAE government’s official website, the following individuals qualify for the Golden Visa:
A. UAE Golden Visa for real estate investors
The Golden Visa is available to real estate investors who meet one of the requirements listed below:
- Either buy a home for at least AED 2 million, or
- Acquire a house using a loan from one of the listed neighborhood banks,
- Purchase one or more completed or off-plan properties from a list of authorized regional real estate firms for no less than AED 2 million.
B. UAE Golden Visa for Entrepreneurs
If an entrepreneur satisfies one of the following requirements, they may be granted a Golden Visa:
- Owner or partner of a startup business registered in the UAE as a small or medium-sized business (SME) with annual sales of at least AED 1 million, or
- Get the Ministry of Economy, other appropriate municipal agencies, or an official business incubator to approve your startup idea, or
- Have started an entrepreneurial venture that was sold for at least AED 7 million in total.
C. UAE Golden Visa for remarkable talent
No of their degree of schooling, employment status, a monthly wage, level of expertise, or extraordinary talents in critical disciplines including culture, art, sports, and digital technology are eligible for a Golden visa. A federal or local government agency must recommend or approve the visa.
D. UAE Golden visa for professionals, scientists, and engineers
On the basis of a recommendation from the Emirates Scientists Council, scientists and researchers with significant achievements and impact in their field may be eligible for the Golden visa. A candidate should have a Ph.D. or a Master’s degree from one of the top universities in the world in engineering, technology, the biological sciences, or the natural sciences, as well as significant research accomplishments.
The following engineering degrees must come from a reputable university and be approved by the UAE Ministry of Education in order to qualify for the Golden Visa in Abu Dhabi.
- Virology and epidemiology
- Artificial intelligence (AI)
- Big data
- Electronics or Electrical Engineering
- Software engineering
- Genetic engineering
- Biological engineering
Spouses and kids may be sponsored under the Golden Visa program for specialists in science and engineering.
Professionals and highly skilled workers in all fields—including medicine, science, engineering, information technology, business and administration, education, law, culture, and social sciences—who possess high academic credentials and professional experience may qualify for the Golden Visa if they:
- Have a valid contract of employment in the UAE
- Are categorized in the first or second occupational level according to the Ministry of Human Resources and Emiratization’s classification system.
- Have earned a bachelor’s degree or its equivalent
- Own a monthly income of at least AED 30,000.
E. UAE Golden Visa For Students
The Golden Visa is open to outstanding graduates from the top 100 colleges in the globe as well as high-achieving secondary school students in the UAE. Academic achievement and cumulative average, graduation year, and university classification are also considered.
F. UAE Golden Visa for pioneers in humanitarian work
The Golden visa is available to pioneers in humanitarian work such as the following:
- eminent members of regional and international organizations
- Prominent participants in public benefit organizations
- winners of distinction awards in the humanitarian sciences
- Prominent donors and volunteers who support humanitarian causes
G. UAE Golden Visas for Medical Professionals – Doctors and Nurses
In “honor of their efforts and sacrifices,” the UAE has started giving long-term residency to medical professionals who serve as the first line of defense.
Through the ICA’s golden residency services for doctors, any physicians licensed by the UAE’s health regulatory organizations are eligible to apply for the Golden Visa between July 2021 and September 2022.
Nurses and medical professionals, the unsung heroes of the UAE’s COVID-19 battle, are currently also qualified for the prestigious Golden Visa.
For doctors and nurses who want to apply for visas in person, seven centers linked with the Federal Authority for Identity and Citizenship have been set up around the Emirates.
Validity of Golden Visa in the UAE
As previously stated, those who possess a UAE Golden Visa are free to remain outside the country for as long as necessary without fear of losing their status. Prior to this change, they could leave the UAE for no more than six months without losing their residency.
No of their age, Golden Visa holders are able to sponsor their spouses, children, and other relatives. They have the capacity to fund an infinite number of assistance programs (domestic help).
Other benefits for family members include the right to stay in the UAE until the expiration of the resident’s visa if the person with the Golden Visa dies.
Please read the article on UAE Golden Visa Changes for more information and what its benefits actually comprise.
For more details on UAE Golden Visa kindly Contact Us.