These days UAE is getting a great deal of global attention. The reason is the Golden Visa UAE is issuing to expats, especially those who are looking to invest in the UAE.
The Golden visa UAE came up with in 2019 is a new long-term residence visa system. It enables foreigners to live, study, work, and run a business in the UAE. The best part is that you need no sponsors for a Golden Visa. You will also have complete ownership of your business in the UAE.
The Golden Visa UAE offers have 2 durations of validity: 10 years and 5 years. Of course, both categories of this visa can be automatically renewed.
eServices under Golden Visa system
The granting of Golden Visa to the following parties is regulated by the UAE:
- specialized talents & researchers in the fields of science and knowledge
- bright students with scientific capabilities that look promising
Eligibility for Golden Visa with 10-year validity
Individuals under 2 categories are eligible for the 10-year Golden Visa.
Investors who make a minimum public investment of AED 10 million
The investment these candidates make could be:
- An AED 10 million or more as deposit inside the UAE in an investment fund
- Taking partnership in a new or existing company with a share value of not less than AED 10 million
- Setting up a company in the UAE with a capital of not less than AED 10 million
- An investment of AED 10 million or more in total in all afore-mentioned areas, provided the investment in any sector other than real estate isn’t under 60% of the total investment.
This category of visa will be issued if the candidate meets the following conditions:
- The invested amount mustn’t be obtained from a loan
- Financial solvency of up to AED 10 million must be there
- The investment has to be retained for a minimum of 3 years
This visa can be extended to include business partners. This is possible if each partner contributes AED 10 million.
The visa holder can include spouse and children as well as one advisor and an executive director. Investors from abroad may apply for a multi-entry permit. The validity of this permit will be 6 months.
Persons with specialized talents
These are people with specialized talents and researchers in the fields of science and knowledge. These include inventors, scientists, specialists, doctors, and creative people in the fields of art and culture. The advantage of the visa extends to spouse and children. A valid employment contract in a specialized field in the UAE is necessary.
Eligibility for Golden Visa with 5-year validity
Individuals under the following categories are eligible for the 5-year Golden Visa.
Investors in a property existing in the UAE
These investors will be granted the visa upon meeting the following conditions:
- The amount invested in real estate mustn’t be on the basis of a loan.
- The property’s gross value should be AED 5 million or more.
- The property must be retained for a minimum of 3 years.
These people are
- Those with an existing project with a minimum capital of AED 500,000, or
- Those with the approval of an accredited business incubator in the UAE.
Entrepreneurs are allowed a multi-entry visa of 6 months. It can be renewed for another 6 months. The long-term visa includes a partner, spouse and children, and 3 executives.
These individuals include:
- university students inside and outside the country with a minimum distinction GPA of 3.75 upon graduation
- outstanding students with a grade of at least 95% in public and private secondary schools
The long-term visa includes families and outstanding students.
If you have more queries or services requirements about migrating to the UAE, contact Y-Axis, the World’s No.1 immigration & visa company. Click here to connect with us.
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