The UAE Golden Visa offers long-term residency for individuals looking to establish themselves in one of the most dynamic regions in the world. Designed for high-net-worth individuals, entrepreneurs, and skilled professionals, this visa streamlines the path to living and working in the UAE. With its business-friendly environment, tax advantages, and world-class infrastructure, the UAE has become an attractive destination for investors and residents alike.
Brittany Collins, Head of Legal Department at My Golden Visa explains the essentials about Golden Visas, its benefits, and how to apply for it.
What is UAE Golden Visa Program
The UAE Golden Visa is a residency program launched in 2019 that allows foreigners to live, work, and study in the UAE for up to 10 years. Unlike other types of visas, this one does not require a local sponsor, making it appealing for investors, entrepreneurs, and skilled workers. The visa is aimed at retaining talent and investment, offering long-term security to residents who contribute significantly to the UAE’s economy and growth.
The UAE Golden Visa caters to various groups, including:
- investors;
- entrepreneurs;
- scientists;
- engineers;
- medical professionals;
- creative talents.
Each category has specific criteria, but all applicants benefit from the flexibility and ease of living and working in the UAE.
The process of obtaining a UAE Golden Visa takes 2 months.
9 benefits of living in UAE with Golden Visa
1. Long-term stability. The Golden Visa offers a 5- or 10-year residency, renewable indefinitely. This provides long-term security without the need for constant renewals, allowing residents to focus on building their businesses or careers.
2. No need for a local sponsor. Unlike standard residency visas, the Golden Visa does not require a local sponsor, simplifying the application process and allowing greater independence for residents.
3. Business-friendly environment. The UAE is known for its favourable business climate, with low taxes, minimal bureaucracy, and a highly developed financial system. Golden Visa holders can take full advantage of these benefits.
4. Tax advantages. There is no personal income tax in the UAE, making it an attractive destination for those looking to protect their wealth. Business taxes are also low, adding to the financial appeal.
5. Access to world-class infrastructure. Residents enjoy access to state-of-the-art healthcare, education, transportation, and entertainment facilities. The UAE continues to invest heavily in infrastructure, ensuring a high quality of life.
6. Easy travel access. The UAE has strong international connections with direct flights to almost every major city worldwide. It is also centrally located, making it an ideal hub for global business operations.
7. Family inclusion. Golden Visa holders can sponsor their spouses, children, and even domestic staff, allowing their entire family to benefit from living in the UAE. There is no need to worry about separate visas for dependents, which adds peace of mind.
8. Real estate investment opportunities. Golden Visa holders have the freedom to invest in property across the UAE, including high-end developments in Dubai and Abu Dhabi. These investments often lead to strong returns due to the growing demand in the real estate market.
Some of the best areas for high-net-worth individuals include Dubai Marina, Palm Jumeirah, and Business Bay.
9. Educational and career prospects. The UAE’s education system is highly regarded, and Golden Visa holders can enrol their children in top-tier international schools and universities. Furthermore, the booming job market offers numerous career opportunities for residents, especially in tech, finance, and healthcare industries.
UAE Golden Visa Requirements for Different Groups of Applicants
The UAE Golden Visa program tailors its requirements to different applicant categories. Below are the key requirements for each.
Investors. Investors must commit a minimum of AED 2 million ($545,000) in real estate. The investment must be held for a minimum period of three years to qualify for the visa. There is also a new option for retirees with investments in property, adding more flexibility for older applicants.
Entrepreneurs. Entrepreneurs need to own a business that is valued at a minimum of AED 500,000 or be approved by an accredited business incubator in the UAE. Start-up founders and business owners can leverage the UAE’s numerous free zones to start and expand their ventures.
Skilled professionals. Individuals working in fields such as science, engineering, healthcare, education, or information technology need to have a recognised degree or professional qualification. They must also have a contract in the UAE with a salary of at least AED 30,000 per month.
Creative talents. Artists, musicians, and performers can apply if they are endorsed by local or international cultural bodies. Their work must have a significant impact on the cultural landscape of the UAE. In recent years, the UAE has focused on attracting more talents in the creative industries, especially in Dubai, which is positioning itself as a global cultural hub.
Researchers and specialists. Individuals with significant contributions in science and research fields are also eligible, provided they hold a PhD or similar qualification and have extensive experience in their field.
How to Get UAE Residence Visa through Investment
Obtaining the UAE Golden Visa by investment requires meeting specific financial thresholds and following a straightforward process.
1. Invest in real estate. Purchase a property worth at least AED 2 million in the UAE. The investment must be in a freehold area approved by the UAE government. Once purchased, the property must be retained for at least three years.
2. Submit the application. Once the investment is made, applicants must gather the required documentation, including proof of investment, identification, and financial statements. The application is then submitted to the UAE’s immigration authorities for approval.
The visa application takes two months to process. Once approved, the applicant will receive their UAE Golden Visa, which grants them long-term residency.
Conclusion
UAE residence visa by investment offers a fast and efficient way to secure long-term residency in one of the world’s most prosperous regions. By investing in real estate or by demonstrating expertise in key professional fields, applicants can enjoy the numerous benefits of living in the UAE. With no personal income tax, a thriving business environment, and exceptional infrastructure, the UAE is a prime destination for high-net-worth individuals.
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