Dubai Golden Visa: A Pathway and Long-Term Residency
What is a Dubai Golden Visa?
The Dubai Golden Visa is a long-term residency visa introduced by the UAE, catering to specific categories of individuals. These renewable visas are valid for 5 or 10 years, depending on the type of golden visa chosen. Notably, this system allows both UAE residents and foreigners to obtain long-term residence visas without the need for a local sponsor. The golden visa is granted to investors, entrepreneurs, specialized talents, and other distinguished individuals, with the aim of attracting and retaining exceptional individuals to bolster the country’s economy.
Eligibility for a Dubai Golden Visa
The following categories must be met in order for someone to be granted a Dubai Golden Visa:
Investors: Individuals who wish to apply for a Dubai Golden Visa under the investor category must fulfill specific investment criteria. The exact requirements may vary, but some common investment options include:
- Real Estate Investment: Investing in Dubai’s real estate sector is a popular route to qualify for a Golden Visa. The minimum investment threshold for real estate may vary, but it typically involves purchasing property or properties with a certain minimum value.
- Business Investment: Establishing a business or investing in an existing business in Dubai can also make individuals eligible for a Golden Visa. The investment should meet certain criteria, such as minimum capital requirements or job creation targets.
Entrepreneurs: Dubai encourages entrepreneurs who are interested in setting up or expanding their businesses in the city. To qualify for a Golden Visa as an entrepreneur, individuals need to fulfill specific requirements, which may include:
- Business Plan: Entrepreneurs must present a comprehensive business plan that outlines their proposed venture, its potential for growth, and its contribution to Dubai’s economy.
- Financial Viability: Applicants need to demonstrate the financial viability of their business idea by showcasing the availability of sufficient funds for the investment, operational expenses, and anticipated growth.
- Track Record: Having a successful track record as an entrepreneur, which may involve prior experience in starting and managing businesses, can strengthen the application for a Golden Visa.
UAE Golden Visa Costs
The approximate cost for a Dubai Golden Visa is AED 5,000 for an investor visa. It is important to note that additional PRO charges may apply, and the visa validity period may vary depending on the type of visa applied for.
Benefits of Dubai Golden Visa
The Dubai Golden Visa provides numerous advantages to its holders, including:
Multiple Entry Permits: Golden visa holders are exempt from the requirement of being physically present in the UAE every six months, unlike other visa types.
Security: Long-term residence visas offer individuals the assurance and security of being residents in the UAE for an extended period. Visa renewal options are available under certain conditions.
Extended to Dependents: Golden visa holders can extend their visas to include their spouses and children, allowing the whole family to benefit from long-term residency.
Affordable Pricing: The cost of obtaining a golden visa in the UAE is comparatively affordable when compared to visa costs in other countries.
Special Services: The UAE provides special services to golden visa holders, including the “You are special service” offered by the General Directorate of Residency and Foreign Affairs (GDRFA) in Dubai, which operates 24/7 to assist golden visa holders and others.
How can you be qualified for a Golden Visa?
Eligibility for a golden visa:
For a 10 year eligibility, the candidate must meet at least one of the conditions listed below:
- Up to AED 10 million must be deposited by investors in a UAE investment fund.
- Requires having a minimum capital investment of AED 10 million and a maximum share value of AED 10 million as a partner or owner in a company.
This visa is open to business partners, spouses, kids, one executive director, and one advisor.
For someone to be qualified to apply for a Dubai golden visa the applicant must fulfill at least one of the requirements listed below.
- All investment funds should be wholly held by the individual. Loan-based investments are not permitted, and sufficient justification must be shown.
- The applicant must possess insurance documents for themselves and any dependents, and they must have held the investment for at least three years.
- The applicant must have kept the investment for at least three years and must have proof of insurance for both themselves and any dependents.
Also eligible for the visa are highly qualified professionals in the fields of science, medicine, coding, and the arts.
For a 5 year eligibility, the candidate must meet at least one of the conditions listed below:
- You ought to have purchased a property for at least AED 5 million.
- The invested sum cannot be repaid using borrowed funds.
- The owner must have owned the property for at least three years.
What steps are involved in applying for a golden visa in the UAE?
The processes listed below must be completed in order for you to receive your golden visa in the UAE:
- Request nomination for a golden visa. You must send a resume outlining your accomplishments.
- Submission of the necessary paperwork. These records consist of:
- Passport copy
- Visa copy
- Emirates ID
- Passport photo
- Trade license
- Memorandum of Association (MOA)
- Audit report
- Auditor license and certificate
- Bank statement
- Title deed (AED 2 million)
- Health Insurance
These are the steps required for a golden visa in Dubai.
Obtain Your Dubai Golden Visa Today
The Dubai Golden Visa presents an exceptional opportunity for individuals seeking long-term residency in the UAE. By understanding the eligibility criteria, costs, and application process, you can take advantage of the benefits and pave the way for a prosperous future for you and your family in Dubai. Embrace the possibilities offered by the Dubai Golden Visa and become part of the thriving community.
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