Over the years the city of Dubai (and all the UAE) has become an ideal place to live: work opportunities, foreign investment, and a perfect location for tourism. Moreover, with the introduction of the Dubai Golden Visa and other programs adopted by the government; without doubt, Dubai is a top place to live in.
The UAE government has adopted advanced technology and innovative methods to push the economy forward. There is no doubt, that Dubai will keep developing economically in the years to come.
In this article, you will learn the process of obtaining a Dubai Golden Visa and why it is so important. In addition, make sure to understand the advantages and eligibility for this type of visa. On the other hand, here you will understand the procedure step by step, and we will make sure that you get one for yourself or your family. Let’s observe:
1. What is a Golden Visa in Dubai?
The UAE government introduced the Dubai Golden Visa to motivate, provide opportunities to “talented people and great minds”. Therefore, they introduced this long-term residency visas for certain categories of persons. Depending on the golden visa service you select, you can renew them and are valid for 5 to 10 years.
However, this process will allow all individuals who apply for this type of visa long-term residence without needing a local sponsor. This visa can be renewed, but only on a conditional basis. be done so on a conditional basis. The main goal with this visa is to inspire, provide opportunities and retain highly skilled individuals in the country.
After its launch in 2019, 400 investors, entrepreneurs, and their family members have been given a golden visa. Consequently, this measure will boost the economy’s growth.
2. How can you get a Golden Visa in Dubai?
Researchers in the fields of science and knowledge, bright students with scientific abilities can apply for this visa. In addition, individuals with specific talents, entrepreneurs, and investors can also apply for the process. However, on some occasions, individuals get nominated for golden visas by senior Emiratis or government bodies.
Above all, the applicant can process the Dubai Golden Visa online. If an individual gets awarded a golden visa, their spouse or family can also apply.
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3. Who is eligible for a golden visa in Dubai?
Certain individuals can obtain the Dubai Golden Visa. These categories include:
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- Entrepreneurs
- Investors
4. Advantages of a UAE Golden Visa
- Multiple entries: unlike other types of visas, the individual is not required to be physically in the UAE every six months, that is to say, golden visas grant the applicant multiple entries within 5- or 10- years, depending on your Dubai Golden visa.
- Security: this visa grants the holder the assurance and safety of being a resident for an extended period of time (from 5 to 10 years). Similarly, this type of visa is renewable.
Extended to relatives: this visa grants the applicants the chance to extend the visa to their relatives, for instance, spouses and children. - Affordable: in comparison to the price of visas in other countries, the Dubai Golden Visa is really affordable.
- Special services: The UAE grants a lot of benefits and services to the holders of this visa, for example, the “You are special service” by the General Directorate of Residency and Foreign Affairs (GDRFA) in Dubai. This service will allow the proper assistance of golden visa holders.
5. What are the requirements to obtain a Golden Visa?
10-year golden visa:
Individuals must meet at least on the requirements mentioned below:
Investors:
- A 10 million AED deposit in an investment fund in the UAE.
- Owner of an organization with 10 million AED minimum as capital investment, or partnered with a company with a share of 10 million AED minimum.
- In addition, spouses, children, and business partners can obtain an extension of this type of visa, as well as one advisor and an executive director.
Conditions:
Applicants must meet at least one of the following requirements to apply for a Dubai Golden Visa.
- The applicant must completely own all the invested funds. In addition, investments made through the use of loans are not acceptable, therefore, the applicant must present adequate proof.
- The investment funds must have been retained for at least 3 years.
- Insurance documents of the applicant and their dependents are also required.
Individuals with specialized talents such as doctors, programmers, creative individuals, scientists, and individuals in the field of culture and art can also obtain this type of visa.
Eligibility for a 5-year Golden Visa
All applicants must meet at least on the requirements mentioned below:
Investors:
- Individuals must have invested in property of at least 5 million AED.
- Loans do not count as invested money.
- The individuals must own the property for at least three years.
Entrepreneurs:
- Must have a project of at least 500,000 AED minimum.
- Must be an accredited business incubator in the country.
Conditions: (applicable only to investors)
All applicants must meet at least on the requirements mentioned below for an application to a Golden Visa:
- The applicant must have a project in a certified field in the UAE.
- Must be the recognized founder of the project.
- The business incubator must support other start-ups by providing them with appropriate information and resources. In addition, the company needs to have all the relevant certifications.
- The applicants must have valid health insurance for themselves and their family members.
Outstanding students:
with a minimum grade of 95% can also obtain this type of visa. In addition, the golden visa is extended to the family of the student.
7. What are the steps for applying for a golden visa in the United Arab Emirates?
The process to obtain the Dubai Golden Visa is relatively simple, the steps are mentioned below:
- Apply online for the golden visa nomination. Therefore, you must submit a profile with your accomplishments.
- Submit all the necessary documents. The documents include:
- Passport copy.
- Visa copy.
- Emirates ID.
- Auditor license and certificate.
- Passport photo.
- Memorandum of Association.
- Trading license.
- Audit report.
- Bank statement and Banking Services.
- Title deed (AED 2 million).
- Tenancy contract.
- Health Insurance.
On the other hand, depending on the category of visa you fall under. In addition, the applicant must be willing to relocate to the country.
- When the approval is ready, the GDRFA issues the Dubai Golden Visa.
8. How long does the nomination process take?
Within one month of your submission, the applicant will receive an email with a notification of your nomination.
If your nomination process was approved, you will receive an email with the link to upload the required documents.
After that, the Federal Authority for Identity and Citizenship will verify your application process, and therefore, you will receive the Golden Visa.
If you are residing in the UAE, the government will grant you a temporary one-month visa, therefore, you will need to convert your temporary visa to a residency permit during this period of time.
9. What if the applicant is outside the UAE?
If the applicant is currently outside the UAE, the government will grant a six-month visa to enter the country to explore the opportunities and settle.
However, to apply for this visa, the applicant must fill an online form, after that, the applicant must convert the temporary visa into a residency permit.
10. Can I work in the UAE with a Golden Visa?
In order to work in Dubai or other territories in the UAE, the applicant must have a valid employment contract, a license or a work permit.
11. What are the other programs that help foreign residents to live in the UAE?
The UAE government approved a modification to its residency laws, consequently, this law will allow foreign university students to bring their families to the UAE while they are finding jobs in dubai, that is to say, as long as they have the financial means to support themselves and can afford their proper accommodation.
However, last year, in October 2020, the government launched a revolutionary program that permitted overseas professionals who were working from home, to live in the UAE while they still work for their employers from their country.
In September of that year, the Dubai government launched a 5-year retirement visa program called “Retire in Dubai” for foreigners aged 55 and over to emigrate to the UAE. In addition, the program is open to all retirees who:
- Earn a monthly income or at least $6,000.
- Have savings of $280,000.
- Own a property in the UAE worth $560,000.
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