How to Get a UAE Golden Visa? An Ultimate Guide
In 2021, the UAE announced citizenship through an investment program. It is quite a shift from the GCC tradition of not granting citizenship but offering residence permits and visas to foreign nationals. Since its introduction, many investors and talented individuals have been excited about the scheme and are curious about how to obtain Dubai citizenship.
The United Arab Emirates wants to bring in unique talents and investors who can help boost the UAE economy. The authorities responsible for nominating eligibility for UAE citizenship will be the UAE cabinet, executive councils, and local courts.
Sheikh Mohammed bin Rashid Al Maktoum, our Vice-President and Prime Minister, mentioned that the law has been updated to “aim to attract talents that contribute to their development journey.
What Is a UAE Golden Visa?
The UAE Golden Visa, often called the Dubai Golden Visa, is a long-term residency option that lets investors and skilled individuals from abroad live, work, and study in the country.
- There are quite a few benefits to the Golden Visa in the UAE, such as:
- The Dubai Golden Visa is cool because you don’t need an employer to sponsor you; it’s self-sponsored!
If you have a Golden Visa in the UAE, you can stay outside the country for longer than six months. It helps you keep your residence visa valid. - You can include your spouse and kids, regardless of age.
Who Can Get a Golden Visa UAE?
The UAE Golden Visas are aimed at different kinds of people looking to secure residency in the UAE, such as:
- Investors
- Entrepreneurs
- Teachers
- Exceptional talents
- Scientists and professionals
- Outstanding students and graduates
- Humanitarian pioneers
- Frontline heroes
Dubai Golden Visa Requirements
- The requirements for the UAE Golden Visa can differ based on the type of residency you’re looking for, like if you’re an investor, talent, entrepreneur, and so on.
- If you’re looking to invest in the UAE, you’ll need to put in at least AED 2 million, which is about USD 550,000.
- Entrepreneurs should show they have a history of successful business ventures and be ready to invest at least AED 550,000.
- Talented individuals must show they have a solid history in their expertise, the proper academic background, and support from well-known international organisations.
- Executives, highly skilled professionals, and specialised talents can apply for the Golden Visa.
- So, applicants need to clear background checks and meet basic requirements, like having a valid passport and no criminal record.
- The criteria might change over time since the Golden Visa program aims to bring in exceptional individuals who can help the country grow and develop.
- The Golden Visa requirements ensure qualified applicants can contribute meaningfully to the UAE while encouraging diversity and innovation in various areas.
10-Year UAE Residence Visa for Investors
If you’re considering applying as an investor, you must be prepared to make a public investment of at least AED2 million.
Ways to Invest
- You can buy real estate starting with an investment of AED 2,000,000, around $545,000.
- An investor can get a mortgage from a bank in the UAE by making a 20% down payment.
Extra Expenses
- The registration fee is $21,800 or more, which is about AED 160,000.
- The state fees for getting visas and identity cards are $1,043, about AED 3,860 for each person.
- A medical checkup will set you back about $220 or more for each person.
- Health insurance costs around $400 or more for each person.
- Translating documents, getting them notarized, and handling consular legalisation will cost you over $1,000 for each person.
- You need to show that you have enough funds for the investment, and you can’t rely on loans, except for UAE bank mortgages that require a 20% down payment.
- You’ve got to stick with the investment for at least three years.
- You can extend your visa to cover business partners if each partner puts in AED 2,000,000.
Family Members
Family members, including your spouse and kids, are on the long-term visa in the UAE. You can also add an executive director and an advisor to your visa extension. International investors can also apply for a multiple-entry permit that lasts for six months.
How To Apply for Golden Visa UAE
Step 1: Grab your entry visa for the UAE
If you need a visa to enter the UAE, you can apply for an entry visa before you send in your official application. The authority will review your application, and if everything checks out, you’ll receive a multiple-entry visa valid for six months.
Step 2. Complete Your Investment
Ensure you finish your investment before sending your application and supporting documents.
Step 3. Start Your Application
After you finish your investment, you can start your application. You can submit it in Abu Dhabi or Dubai or begin to do it online using the designated portal.
Once you finish this process, you’ll get a text, and you will receive an email about the status of your application documents missing from your application; you’ll have 30 days to submit them. If not, your application will be cancelled.
If everything is in order with your application, you’ll receive a notification about its approval, and we’ll email you the approved application.
Fees of Golden Visa UAE
The fees for UAE Golden Visas can vary based on the type of service and the visa category you select.
- If you’re applying from the UAE, expect the costs to be between AED2,800 and AED3,800.
- If you’re applying from outside the UAE, the fee will be between AED3,800 and AED4,800.
Validity of the Golden Visa in the UAE
If you have a UAE Golden Visa, you can stay outside the country for as long as you need without worrying about losing your residency. You don’t need to live in the UAE to keep your residence permit active.
Tax Implications of UAE Citizenship
One of the big reasons many expats decide to call the United Arab Emirates home is its tax system, or more accurately, the absence of taxes. Employees don’t have to worry about paying income tax, and there’s no system for corporation or inheritance taxes, just to name a few.
The UAE doesn’t have an income tax. So, since there’s no individual tax in the UAE, you don’t need to worry about filing an income tax return. UAE residents who are independent contractors and self-employed must follow the same rules.
Over 130 countries have entered double tax treaties with the United Arab Emirates.
Eligibility Conditions for the UAE Citizenship by Investment or Talent
All dedicated categories for UAE citizenship are listed below:
- If you’re into investing, having a property in the UAE is necessary.
- Focusing on a scientific field in high demand in the UAE is essential if you’re a doctor or specialist. You must have notable scientific achievements and at least 10 years of hands-on experience. You also need to be part of a well-respected organisation in your expertise.
- If you’re a scientist, you’re involved in research, whether that’s at a university, a research facility, or a private company. You’ll need at least 10 years of relevant experience in the field and have made some contributions along the way. You’ll also need to get a letter of recommendation from a scientific organisation based in the UAE.
- If you’re an investor, you need to have a patent approved by the UAE Ministry of Economy (MoE) or another reputable international organisation, and you should hold one or more of these patents. Also, you’ll need a letter of recommendation from the MoE.
- If you consider yourself an intellectual, you should have made noteworthy contributions to art and culture. Plus, it’s a must to snag at least one major international award.
If you qualify, you must also take the UAE oath of allegiance and agree to follow the country’s laws.
Final Verdict
The golden visa for the UAE grants permanent residency to investors and talented people. These include businessmen and employees. However, investment is mandatory and must invest at least AED 2 million, usually through the purchase of property. The talent and student categories include entrepreneurs, talented professionals, and outstanding students. You must follow simple steps, including getting an entry visa, investing, and filing the necessary documents.
