The Golden Visa is essentially a long-term residence visa for the UAE. It is offered to investors, entrepreneurs, people with specialized talents and researchers in the fields of science, culture, and art as well as students with promising scientific capabilities. The Golden Visa in UAE was introduced in 2019 and allows foreigners to live, work and study in the UAE without a national sponsor and with 100% ownership of their business in the UAE. The visas can be issued for 5 or 10 years and will renew automatically so long as all the requirements are met.
Who are eligible for the Golden Visa in The UAE?
The criteria for eligibility differs based on the duration of the visa:
1. Investors
If you would like to apply for the 10-year visa need to have public investments worth at least AED 10 million through investment funds in the country, capital in a company in UAE, or partnerships with a new or existing company. For investors applying for a 5-year visa, the minimum investment amount is AED 5 million.
2. People with specialized talents
The doctors, scientists, inventors, or creative individuals in the fields of art and culture, need to have been accredited by authorities like the Emirates Scientists Council or the Ministry of Culture and Youth, have their talents documented in world-class journals, or be owners of internationally recognized companies.
3. Entrepreneurs
Entrepreneurs need to have an existing project with a minimum capital of AED 500,000 or have the approval of an accredited business incubator in the country.
4. Students
Students need to have a minimum grade of 95% and a grade point average of at least 3.75 upon graduation.
Requirements for Golden Visa In UAE
People in the specialized talent group mentioned above must fulfill certain criteria to be eligible to apply for residency.
- The scientists must be accredited by the Emirates Scientists Council
- The creative individuals in culture and art must be accredited by the Ministry of Culture and Knowledge Development
- Doctors and specialists must meet at least two of the following conditions:
- A Ph.D. degree from one of the top 500 universities in the world,
- an award or certificates of appreciation in the field of the applicant’s work
- contribution to major scientific research in the respective field of work published articles or scientific books in distinguished publications in the respective field of work
- membership in an organization related to the field
- 10 years of professional experience in his field of specialization in areas of priority to the UAE.
Procedure to Apply for a Golden Visa In UAE
Applicants need to register their interest on the UAE's Federal Authority for Identity and Citizenship (ICA) website.
There is a special area for golden services.
If the applicant is from one of the eligible categories but has not yet been nominated, then he/she should apply via the box labeled "Visa - Golden Visa - Nomination Request For Golden Residence - New Request". There is an online form that requests their details, plus the category under which they believe they can be nominated.
The person will also need his/her Unified Identification Number (UID) - a six-digit number automatically assigned to anyone who enters the UAE.
Dubai's immigration service, the General Directorate of Residency and Foreigners Affairs, has also set up a new team to handle applications for golden visas and other important individuals.
How Long Does The Nomination Process Take?
- Starting by applying for a nomination. The application will be reviewed by an authorized government authority within 30 days. The person will then receive an email notifying them about the outcome.
- Once the nomination is approved, the person will be emailed a link through which he/she will have to upload the required documents for the visa.
- The application will be verified by the Federal Authority for Identity and Citizenship. Then the person will be issued with the Golden visa.
Golden Visa- Thrive in Abu Dhabi
The “Thrive in Abu Dhabi” program promotes long-term Golden Visas and a pathway to citizenship for international talent working, creating, studying, excelling, and investing in key sectors and specialties in Abu Dhabi. The UAE’s Golden Visa is available in Abu Dhabi for international investors providing them with visas for up to 10 years.
Abu Dhabi boasts a number of high-growth areas that are creating opportunities for talented individuals to grow, achieve and succeed. These include creative industries, R&D, healthcare, agriculture, financial services, and a thriving start-up ecosystem.
Does the Golden Visa Qualify to work in UAE?
To start a business in UAE the person needs to have a valid employment contract, work permit, or license. However, the UAE's Ministry of Human Resources and Emiratisation issues work permits for golden residency holders.
These are required by those who were unemployed when they received their golden visa and wish to start working for a specific employer, and those who plan to start a new job with a new employer.
Need More Help?
To resolve any of your queries you can connect with the business setup consultants at Danburite Corporate. We will answer all your issues related to Dubai visas, and assist you throughout the whole process and help you acquire them at a low cost. For more information do contact us. We will be happy to help you!
