STAY LONG-TERM AND PROSPER IN THE UAE WITH THE GOLDEN VISA
The UAE launched a new system in 2019 for long-term residence visas. With these visas, foreign entrepreneurs can live, study, and work in the UAE with no need for a national sponsor. They can also have complete ownership of their business in the mainland of the UAE.
These visas for the long-term stay will be issued for a period of 5 or 10 years. These visas will get renewed automatically.
EServices for the Golden visa
UAE’s Cabinet Resolution No. 56 of 2018 concerns the organization of residence permits for entrepreneurs, professional talent, and investors. The resolution regulates granting golden visa to:
- bright students with promising scientific capabilities
- specialized talents and researchers in various fields of science and knowledge
- Submit an application for a 6-month, multi-entry visa so that the procedures for an investor’s residency can be completed
- Submit an application for a 6-month, multi-entry visa so that the procedures for long-term residency of entrepreneurs and/or outstanding students can be completed
- Submit an application for a 6-month, single entry visa so that the residency procedures for talented individuals can be completed
Eligibility for a 10-year visa
The following categories of candidates are eligible to apply for a residence visa valid for 10 years in the UAE:
Investors who make a minimum public investment of AED10 million
The investment may take forms like:
- A minimum deposit of AED 10 million in an investment fund within the country
- Establishing a company in the UAE with a minimum capital of AED 10 million
- Becoming a partner in an existing or a new company that has a minimum share value of AED 10 million
- A minimum investment of AED 10 million in total in all mentioned areas subject to the condition that the investment in sectors which isn’t real estate is at least 60% of the total investment.
The following conditions are applicable to granting a visa:
- The invested amount mustn’t be coming from a loan
- There should be a retainment of the investment for at least 3 years
- Financial solvency of up to AED 10 million is required
Extension for the visa can be made to include business partners. The applicant will have to meet the condition that each partner makes a contribution of AED 10 million.
The long-term visa can include the applicant’s spouse and children. I can also include an advisor and an executive director.
Foreign investors may lodge an application for a multiple-entry permit for a 6-month time.
Individuals with specialized talents
This covers specialized talents and researchers in the fields of science and knowledge. These could include specialists, doctors, scientists, creative individuals in the field of culture and art, and inventors. The advantage of the visa extends to the spouse and children. All categories are needed to have a valid contract of employment in a prioritized specialized field in the UAE.
This visa is granted upon meeting the conditions given below:
- The Emirates Scientists Council or the holders of the Mohammed Bin Rashid Medal for Scientific Excellence must accredit the scientists.
- Accreditation by the Ministry of Culture and Knowledge Development is a must for creative people in culture and art.
- Inventors must get a patent of value, which contributes to the economy of the UAE. Patents must get the approval of the Ministry of Economy.
- There must be documentation for exceptional talents by means of patents or scientific research published in a journal considered world-class.
- Executives have to be owners of a leading and globally recognized company or holders of high academic achievement as well as position.
- Doctors and specialists have to meet at least 2 of the following criteria:
- Have a Ph.D. from one of the world’s top 500 universities
- Have a certificate of appreciation or an award in the field in which the applicant works
- Have contributed to major scientific research in the respective field of work
- Have published articles or scientific books in publications considered distinguished in the respective field of work
- Be a member of an organization related to the field
- Have a Ph.D. in addition to a 10-year professional experience in the related field
- Have specialization in the priority areas of UAE
Eligibility for a 5-year visa
The following categories of candidates can apply for a residence visa with a 5-year validity in the UAE.
Investors in a property in the UAE
Granting a visa to this category of applicants will be done subject to the following criteria:
- The investor has to make an investment in a property of a minimum gross value of AED 5 million.
- The amount invested in real estate mustn’t be sourced from a loan.
- The property must be retained for a minimum of 3 years.
This category of candidates includes individuals:
- with an existing project with a capital investment of at least AED 500,000, or
- individuals approved by an accredited business incubator in the UAE.
The entrepreneur can hold a multi-entry visa for 6 months. It’s renewable for 6 months more. This long-term visa covers the applicant’s spouse and children, 1 partner, and 3 executives.
- outstanding students with at least 95% as the grade in private and public secondary schools
- university students inside and outside the UAE with a minimum distinction GPA of 3.75 upon graduation.
This long-term visa includes families of outstanding students.
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