Golden visa is an initiative taken by the UAE government to attract foreign residents and boost the economy. This visa is for the highly trained and educated people from around the world. With a golden visa, the resident can live, study and work in UAE without having a UAE national sponsor. Also, having a golden visa enables the resident to enjoy 100% ownership rights of their business.
The Golden Visa offers residency convenience to the people belonging to certain groups, including investors, entrepreneurs, and individuals having different talents, including medical professionals, researchers, scientists, and bright students.
Interested individuals can apply for Golden Visas through ICA, i.e., Federal Authority for Identity and Citizenship or GDRFA i.e., General Directorate of Residency and Foreigners Affairs. Both the channels demand the interested individual to submit their documents and show their will to relocate their business ventures to Dubai.
Under this program, the aspirants can have 10 years or 5 years residency visa that can be extended automatically. For the 10 year visa, investors must have 10 Million AED worth of investment, and for 5 years, the amount decreases to AED 5 Million. The investment should not be loaned and about 60% of the investment should not be in real estate. Also, the investors are required to have full ownership in case of assets.
10 years residency visas can include business partners if each of the partners brings AED 10 Million. Also, the spouse and children of the investors are included in the visa along with one advisor and one executive director.
Aspirants with specialized talent can also apply for the 10 year Visa by having accreditations from their respective fields or departments.
For students, the 5-year residency Visas require 96% grade for high school students and a 3.75 GPA from specific universities.
Here are some conditions that the aspirants need to fulfil to be eligible for a Golden Visa.
The scientist applying for the Golden Visa must hold Muhammad Bin Rashid Medal for Scientific Excellence or be accredited by Emirates Scientists Council. Similarly, people related to art and culture must be accredited by the Ministry of Culture and Knowledge Development.
Golden Visa Government of Dubai offers all the expatriates to live and enjoy life in Dubai, providing the conditions mentioned above are me