As is commonly understood, a Golden Visa is a residency permit valid for 5 or 10 years, that confers various advantages, such as the ability to reside and work in the UAE for a prolonged period, without the requirement of a local sponsor or employer. A Golden Visa presents investment prospects, elevates one's standing, and signifies financial stability and accomplishment. Furthermore, the dependents of the Golden Visa sponsor also benefit, as they qualify for a 5 or 10-year residence visa, regardless of their age, and may remain in the UAE until the conclusion of their permit's validity, even if the primary Golden Visa holder passes away.
How can a salaried person be eligible for 10 years Residence Visa?
Foreigners working in the UAE are subject to regulations related to their entry and residency. Individuals who meet the following criteria may be eligible for a Golden Visa based on employment:
- Holding a legitimate work contract in the UAE is a must: A legitimate employee contract in the UAE is a written agreement between an employer and an employee that includes information such as job title, duties, salary, working hours, leave entitlements, termination notice, and other terms.
- Being a skilled worker according to approved occupational classifications: The UAE's Ministry of Human Resources and Emiratisation (MOHRE) has established the National Classification of Occupations (NCO), which categorizes all occupations in the country based on their educational requirements and skill level. It's worth noting that eligibility for the Golden Visa isn't limited to the first or second professional level. The eligibility criteria for this visa differ based on the profession, with some requiring higher skill levels or more qualifications. To determine if one is eligible for the Golden Visa, it's critical to review the specific criteria for each profession.
- Holding a bachelor's degree or equivalent:The eligibility criteria for the Golden Visa program are intended to attract skilled and talented individuals to reside and work in the UAE.
- Earning a minimum monthly salary of Dh30, 000 (or equivalent in foreign currencies): In addition to payroll account statements, various other legal documents can serve as proof of earning a minimum monthly salary of Dh30, 000 (or its equivalent in foreign currencies) for the Golden Visa application.
- Employment contract: The employment contract between the applicant and their employer should specify the salary and benefits that the employee will receive.
- Bank statements: The applicant can submit their bank statements to show regular incoming deposits and the balance in their account.
It's worth mentioning that the documentation needed to prove income for a Golden Visa application may vary based on the applicant's situation and the UAE government's regulations. Seeking advice from a knowledgeable financial or legal consultant is advisable to determine the necessary paperwork for a successful Golden Visa application.
- Possessing a license to practice in approved professions,
The UAE Golden Visa program requires a license to practice for certain approved professions, which include doctors, pharmacists, engineers, accountants, teachers, scientists, artists, investors, executives, and specialists in science, engineering, and computer science.
- And having comprehensive health insurance for the applicant and their family members.
To be eligible for the Golden Visa in the UAE, it is a requirement to have comprehensive health insurance coverage for both the applicant and their family members. This obligation is set in place to ensure that the visa holder and their dependents have access to top-quality healthcare services while residing in the country. UAE law mandates that all residents must have health insurance to cover medical treatment and services. By requiring Golden Visa applicants to obtain health insurance, the government is ensuring that they possess the financial resources to pay for any healthcare expenses for themselves and their families during their stay in the UAE. This policy protects the health and well-being of the visa holder and their family members and reduces the burden on the UAE's healthcare system.
What is the cost of this Golden Visa Category?
For as low as AED 2,900/- you can apply for the Golden Visa in the UAE! But it’s still important to note that this is only the cost of the application and does not include any additional fees that may be required for document attestation, translation, or other related expenses. Additionally, the cost of maintaining the Golden Visa may vary depending on the individual's circumstances and requirements, such as the cost of health insurance and the minimum salary requirement. It's recommended to consult with a qualified legal or financial advisor to fully understand the costs associated with obtaining and maintaining the Golden Visa in the UAE.
What are the other requirements that you need to prepare for the application?
You need to furnish the General Directorate of Residency and Foreigners Affairs (GDRFA) with several documents, including copies of your passport and Emirates ID, a salary certificate, a bank statement for the previous six months, an employment contract, a NOC from your employer, a qualification certificate that is notarized and legalized in your home country or the country where you obtained the qualification, and finally attested by the UAE Ministry of Foreign Affairs & International Co-operation in the UAE.
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FAQs
1. What is the UAE Golden Visa?
The UAE Golden Visa is a long-term residence visa (5 or 10 years) that allows individuals to live, work, and study in the UAE without the need for a local sponsor.
2. Can salaried employees apply for a 10-year Golden Visa?
Yes, salaried employees can apply if they meet specific criteria, including having a valid employment contract, being classified as a skilled worker, and earning a minimum monthly salary of AED 30,000.
3. What is the minimum salary required for a 10-year Golden Visa?
Applicants must earn at least AED 30,000 per month to qualify under the skilled employee category.
