What does a golden visa mean? What are the requirements and procedures to obtain long term visa in Dubai?
The UAE implemented the Golden visa in 2019. The Golden Visa UAE enables foreigners to live, work and study in the UAE without the need of a national sponsor and with 100% ownership of their business on the UAE’s mainland. These visas will be issued for 5 or 10 years and will be renewed automatically.
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.
What does the Golden Visa offer?
The Golden Visa offers a long-term residency for around 5-10 years to people belonging to the group of investors, entrepreneurs, individuals with outstanding talents the likes of researchers, medical professionals and those within the scientific and knowledge fields, and remarkable students.
How does one apply for the visa?
The main benefit of the visa is the high security as through the issuance of the Golden Visa, the UAE government has made it clear that they are committed to providing expatriates, investors, and essentially everyone looking to make the UAE their home an extra reason to feel secure about their future.
How does one apply for the visa?
The person who is interested to apply for Golden in UAE has to go to the website of the Federal Authority for Identity and Citizenship (ICA) or the General Directorate of Residency and Foreigners Affairs (GDRFA) which works under the ministry.
ICA offers only online channels and GDRFA offers both online and offline channels. The process is very smooth with candidates who are willing to relocate to the UAE according to their business ventures. They have to submit the necessary documents in order to get dubai residency visa.
Requirements for the Golden Visa UAE
The requirement of a visa depends on the organization but they are all subject to the persons adhering to the terms and conditions of the Golden Visa. The Golden Visa system offers long-term residency to people referring to specific groups.
A. 10-year visa eligibility requirements
Below are the 10-year golden visa eligibility requirements.
A deposit of at least AED (United Arab Emirates Dirham) 10 million worth of public investment, either in the form of an investment fund or a company. 60% of the total investment must not be in the form of real estate. The invested amount must not be loaned, or in the case of assets, investors must assume full ownership. The investor must be able to retain the investment for a minimum of three years.This 10-year long visa may be extended to include business partners, providing that each partner contributes AED 10 million. The long-term visa can also include the holder’s spouse and children, as well as one executive director and one advisor. This visa may also be renewed
B. Eligibility for a 5-year Golden visa
Here are the 3 things that need to keep in mind before applying for the UAE Golden Visa.
The investor must invest in a property of a gross value of not less than AED 5million. The amount that is invested in real estate should not be on a loan basis The property must be retained for at least 3 years.C. What are the conditions for people with specialized talents?
To be eligible for residency, members of the specialized talent category must meet specific requirements
While scientists must be recipients of the Mohammed Bin Rashid Medal for Scientific Excellence or members of the Emirates Scientists Council, creative professionals in the arts and culture must become a member of the Ministry of Culture and Knowledge Development of UAE. The extraordinary abilities must be proved by patents or scientific studies published in peer-reviewed publications.D. Doctors and Specialists
Has to be a Ph.D. from one of the world’s top 500 universities, an award or certificate of appreciation in the respective field of work. Published articles or scientific books in prestigious publications in the respective field of work. contribution to a major scientific research project in the respective field of work. membership in a field-related organization A Ph.D. and 10 years of professional experience in his field of specialization in areas of priority to the UAE.E. Entrepreneurs
Those having an existing project with minimum capital. Those who have the approval of an accredited business incubator in the country. Entrepreneurs are granted a six-month multi-entry visa that can be renewed for another six months. The spouse and children, partner, and three executives are included in the long-term visa.F. Outstanding Students
Outstanding students with a minimum grade of 95% in public and private secondary schools. University students within and outside the country having a distinction GPA of at least 3.75 upon graduation.G. Chief Executives
The Applicant must have a bachelor’s degree. To have experience of at least five years and above is a must. Should be earning a salary of 30,000 AED or more in the UAE under a licit job contract. The applicant must have health insurance which includes family members.How to Overcome UAE Golden Visa Requirements?
The easy way to get a Dubai Golden Visa is through company formation in UAE. By registering a company in Dubai, a person can easily get a 3-year residency visa. The visa has to be renewed after every 3 years. The process for opening a company in Dubai is simple. The person must apply for a general trade license and complete all the legal formalities on time.
Conclusion
From company formation to Golden visa application, Danburite Corporate can help you at every step. You can register your company in Dubai with DED. Due to the above-mentioned restrictions for UAE Golden Visa, you may want to apply for other available Dubai visas. To resolve any of your queries, you can connect with the business setup consultants at Danburite Corporate. We will answer all your queries related to Dubai visas and assist you in every possible way.