The UAE Golden Visa is a special type of long-term residence visa that offers its holders numerous benefits. It is available for students, entrepreneurs, scientists, and investors, with a validity period of 5 or 10 years. This visa simplifies the process of opening bank accounts, obtaining various services, and enjoying a favorable tax regime.
An alternative to the Golden Visa is the UAE Resident Visa, which requires a real estate investment of at least USD 205,000. However, to renew this visa, one must continually prove ownership of the purchased property. The Golden Visa, in contrast, is issued for 10 years, with the requirement that the property be owned for just 3 years. Even after selling the commercial or residential property, the privileges of the Golden Visa remain intact.
Eligible Foreigners for the Golden Visa
The following categories of foreigners can apply for the Golden Visa:
- Investors who have invested over AED 2 million (approximately USD 545,000) in real estate.
- Founders of companies with a startup capital exceeding AED 500,000 (approximately USD 136,000).
- Business owners approved by authorized local business incubators.
- High-achieving students and scientists who have made significant contributions to their field.
The Golden Visa program has no age or nationality restrictions. Additionally, the privileged residency can be renewed as long as the qualifying conditions remain unchanged
Types of Golden Visas
10-Year Golden Visa for Property Buyers
Applicants can apply for a 10-year privileged residency if they purchase property that:
- Is completed.
- Meets the minimum value requirements.
- Is fully paid by the investor without any borrowed funds.
The property can only be sold after 3 years. Foreign property buyers can also include close relatives in their application: spouse, parents, unmarried daughters, and sons of any age.
The most accessible program today offers a 2-year residency for a real estate investment of AED 750,000 (approximately USD 205,000). There are no restrictions on renewing the residency as long as the property remains in the owner's possession.
5-Year Golden Visa for Entrepreneurs
Entrepreneurs are eligible for a 5-year Golden Visa if they:
- Meet the minimum capital requirements.
- Receive support from an authorized business incubator.
In addition, up to three top managers of the firm can apply for the 5-year Golden Visa.
10-Year Golden Visa for Business Owners
This program is for investors ready to invest AED 2 million (approximately USD 545,000) or more in:
- An accredited fund with up to 40% real estate.
- The statutory capital of a new company.
Business owners can apply for a 10-year Golden Visa along with top managers and business partners, provided each meets the minimum investment requirements.
The Process of Obtaining a Golden Visa
Step 1: Program Selection
Duration: Up to 7 days
The applicant chooses the residency program with the help of a Wt Group consultant who will assist in selecting a property that fits the applicant's budget and goals.
Step 2: Property Purchase
Duration: 14-21 days
The investor confirms their intent by paying a deposit, a standard procedure confirming interest in a specific property. After signing the purchase agreement, the remaining amount is paid to the seller, and the contract is registered with the Land Department. Ownership transfer takes effect upon registration.
Step 3: Document Preparation
Duration: 7-28 days
Translations, apostille, and notarization of copies are required.
Step 4: Medical Examination
Duration: 1 day
The standard procedure includes a blood test and chest X-ray to ensure the applicant does not have any dangerous communicable diseases.
Step 5: Submission to Government Authorities
Duration: 1 day
Documents can be sent via email to the Federal Authority for Identity and Citizenship or the General Directorate of Residency and Foreigners Affairs. The applicant must also visit a local center with their original passport for photographing and fingerprinting.
Step 6: Issuance of a Six-Month Investor Visa
Duration: 5-7 days
This visa allows integration into the UAE while the Golden Visa application is processed.
Step 7: Issuance of the Golden Visa
Duration: Up to 6 months
Approval will be communicated by phone, SMS, or email. The visa can be affixed at the General Directorate of Residency and Foreigners Affairs.
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