UAE Golden Visa For Business Investors and Entrepreneurs

If you want to start a business and buy property in Dubai, you can get long-term visas to live there. These visas such as UAE Golden Visa, are for five years or ten years. You can also bring your family and business partners if you have a five- or ten-year residency visa in the UAE.

Introduction to UAE Golden Visa

The UAE Golden visa is a long-term residence visa that allows talented people from other countries to stay in the UAE. With this golden visa in UAE, you can live, you can work, or study in UAE, and get exclusive benefits. Business investors, entrepreneurs, scientists, outstanding students, humanitarian pioneers, and frontline heroes are all eligible for a Golden visa in UAE.

Benefits of UAE Golden Visas

The UAE introduced a special visa called the Golden Visa. It is for those people who want to make their future and stay in the UAE for a long time. This visa has many benefits, including:

• Long-term Residency: You can live in UAE for 5 or 10 years with the UAE Golden Visa residency. You can also work or study there during this time.
• 100% Business Ownership: You can own all of your business. You don’t need to find someone from the UAE to be your partner for most types of work.
• Employment: You can get a job with any company in the UAE.
• UAE driving license: If you are from one of 32 approved countries, you can easily get a UAE driving license.

New Rules for UAE Golden Visa in 2024

1. Minium Down Payment: Before, you had to pay at least 1 million AED ($272,000) to start buying a house and get a Golden Visa in UAE. Now, you do not need to pay this big amount first.
2. Updated Qualification Standards: Now, if you own a house worth 2 million AED ($545,000) or more, you can get a Golden Visa UAE. It does not matter how much you paid at first time or if the house is finished being built.
3. Diverse Property Choices: You can pick any kind of house, as long as it costs 2 million AED ($545,000) or more, to get the chance to live in the UAE for a long time with the Golden Visa UAE.
4. Residency for 10 Years: The 10-year Golden Visa UAE allows you to live in the UAE for 10 years. When it is over, you can renew it again for the next 10 years. 

Documents Required For UAE Golden Visa

The documents you need for a UAE Golden Visa can be different for each person. It depends on the applicant’s unique case and specific application category. Basic documents for the UAE Golden Visa application everyone Needs:

• Copy of passport, make sure it does not expire for at least 6 months.
• Recent passport-sized photo with a white background.
• Health insurance of the applicant and all family members who apply for a golden visa in UAE.
• Documents that show family relationships. For example, birth certificates for children or marriage certificates if you are married.
• A copy of a current UAE residence visa, if you have one.
• Copy of your Emirates ID, if you have one.

Eligibility Criteria For UAE Golden Visa

People Investing in UAE Public Opportunities

To get a Golden Residency UAE through public investments in the UAE, you need to use your own money. This applies whether you are investing in public funds, buying a UAE company, or purchasing shares in a UAE company. You must prove that all the money you are using belongs to you completely. This means you can not use borrowed money or money put up as collateral for a loan. The government wants to ensure that you are investing with your own funds, not with money you owe to someone else.

Entrepreneurs

If you are an entrepreneur and want to get a Golden Visa Dubai, you need to get your business idea approved first. You can do this approval process in two ways. One option is to get approval from a UAE business incubator, which is a place that helps new businesses get started. The other option is to get approval from a special government department. These departments could be the Federal Authority for Identity and Citizenship, Customs and Ports Security, or the Ministry of Economy. You need official approval for your business plan before applying for Golden Residency as an entrepreneur.

Real Estate Business Investors

• If you want Golden Visa residency as a property investor, you need to show you have a place to live in UAE. This can be a home you own or rent.
• If you bought the property, it should be paid for in full. The only exception is if you have a loan from a UAE bank.
• For Golden Residency in Abu Dhabi:
  • You must show you have enough money.
  • You need to earn at least 10,000 AED per month (or the same amount in another currency).
  • Your property must be finished and ready to live in.
• For Golden Residency in Dubai:
  • You can buy properties that are still being built.
  • You can also buy properties before construction starts (“off-plan”).
  • But you must buy from a developer that the government approves.

Scientists and Specialists

• If you’re a scientist or specialist, you need to show proof of your education to apply for a UAE Golden Visa. This usually means showing your degree or diploma.
• You might also need a letter saying you are good at what you do. This letter could come from a government office or a professional group. For example, if you are a doctor, you might need a letter from the UAE health department.
• Some jobs, like skilled workers or managers, might need to show they earn at least 30,000 AED per month.

Students and Graduates

• If you just finished high school, you need a letter saying you did well. This letter comes from the education department or a similar office for Golden Visa UAE for students.
• If you finish university, you can apply within two years after graduating. Your degree needs to be approved by the UAE education department.

Humanitarian Workers

• If you work in charity or volunteer jobs, you need at least a bachelor’s degree.
• You also need to meet the basic rules for applying, just like everyone else.

Talented Peoples

• If you’re good at something, you can apply for a Golden Visa UAE. But you need to prove you’re special.
• You can do this in the following ways:
  • Get a letter saying you’re excellent at what you do
  • Be nominated by an important group
  • Win a big international award (or be nominated for one)
  • Do something else that is impressive
• The group that says you’re great depends on what you do. For example:
  • If you’re a business or property investor, you need approval from the group that deals with the economy
  • If you’re amazing with computers and AI, you need approval from the AI experts

Frontline Heroes

• If you’re a frontline worker (like a doctor or nurse during a crisis), you can also apply for the UAE Golden Visa for doctors.
• You need either:
  • A recommendation from the right government group, or
  • To be nominated by the UAE Frontline Heroes Office
• The Frontline Heroes Office does more than just nominate people. They also run programs to help frontline workers.

Also Read: UAE Golden Visa – Are You Eligible for Residency Visa

Get The UAE Golden Visa with Intellect Chartered Accountants

Need Help Getting Your UAE Golden Visa? Don’t worry! Intellect Chartered Accountants is here to help you. We are experts in helping people get their Golden Visa in Dubai and the UAE.

But that is not all we do. We are your one-stop shop for all things business and finance in Dubai:

• We can help set up your business in Dubai, even in free zones
• We will take care of your accounting & bookkeeping
• We provide auditing services
• We will help you with VAT and other tax matters
• We offer banking services to make your life easier
• Our business services can help your company grow

Whether you are just starting or you are looking to expand your business, Intellect Chartered Accountants has the knowledge and experience to guide you. We understand all your needs in Dubai’s business world and can help make your journey smoother.

Want to learn more about getting a UAE Golden Visa or need help with your finances in Dubai? Reach out to Intellect Chartered Accountants.