The UAE is a developed country with a strong economy that provides an ideal commercial and economic environment for investors and entrepreneurs. It is distinguished by its advanced infrastructure, which many international reports describe as among the best in the world, complemented by professional expertise and a diverse economic base. As a result, this country has a competitive advantage over other countries.
Furthermore, for those looking to start a business or start a new life, the UAE is one of the best regions in the world with the best residency systems in the region.
The UAE launched a new framework for long-term residence visas in 2019. The new framework allows foreigners to live, work, and study in the UAE without the need for a sponsor or spouse’s support, as well as having complete control over their business on the UAE’s mainland. These golden visas are valid for five or ten years and are automatically renewed.
What exactly is the UAE Golden Visa?
The UAE government’s golden visa program is one of the most appealing residency programs available. The golden visa program is available to investors and allows holders to stay in the country and enjoy exclusive benefits. The UAE golden visa program aims to provide long-term residence to a specific group of people. The Dubai government grants golden visas to investors, professionals (engineers or doctors), property owners, promising students, and specific skill sets and expertise in various fields of science and information.
What are the advantages of the Golden Visa?
Multiple-entry visa for 6 months, renewable, to begin the procedures for this type of residency if the person is not already in the country.Ten-year renewable residency. The presence of a guarantor or guarantor in the country is not required for golden residency.
It allows for the issuance of residence visas for family members and support workers for similar periods.The ability to benefit the children and family members sponsored by the holder of the golden residence in Dubai after his death and until its validity expires.It no longer requires attendance in the state every six months, as it did previously, but its holder cannot stay in the UAE for more than six months.
Property Investors Eligibility Requirements for the UAE Golden Visa
Real estate investors in the UAE can apply for a 10-year Golden Visa if they invest a minimum of 2 million Dirham in properties, regardless of property value.
Talented and Gifted
They are people with exceptional talents or abilities, but they must first obtain the recommendation and approval of a federal or local authority in order to obtain golden residency in the country, in various fields such as culture, arts, sports, digital technology, inventors, and workers in strategic areas important to the state.
They are the category of investors who work in small and medium-sized companies and businesses. This category is subject to certain conditions.
Owning a company or a stake in a pilot project registered in the country as a small or medium enterprise with annual revenues of at least one million dirhams.
Scientists and specialists
They are skilled workers with scientific training and expertise in all medical, engineering, technology, science, education, law, culture, social, and other disciplines. They are scientists and researchers with achievements and impact in their fields of work, but there are constraints. Obtaining a license or work permit on a domestic level. Being classified as a skilled worker at the first and second levels by the Ministry of Human Resources. A bachelor’s degree is required, as well as a monthly salary of at least 30,000 UAE dirhams, or its equivalent.
Students with the highest grades
They are either recent graduates from prestigious UAE colleges or universities ranked among the top 100 in the world by well-known rankings.
Humanitarian business owners
They include people who hold positions of leadership in public associations, work for international or regional organizations, have received industry awards, and volunteer in the humanitarian and charitable sectors.
First line of defense (medical professionals)
They are medical professionals who work in crisis situations such as the Corona pandemic.
It is sponsored by organizations for their employees. If a foreign national obtains employment in the UAE, they will require a resident visa in order to legally live and work there. The employer who sponsors the visa may be any corporation from a UAE government body, the UAE mainland, or a Freezone jurisdiction.
However, employers should process the employment visa as the first step before hiring a foreign worker. In this way, the visa will allow them to enter the UAE. In order to receive the resident visa and Emirate ID card, they must complete the ID card biometrics upon entry. They must also submit to mandatory health examinations.
If the employee is already a resident of the country, however, the country application can be used to change the employee’s visa status. The medical test and completion of the ID card biometrics will remain the same for the issuing of the visa and Emirate ID card.
The employment visa is only valid for two years if it is sponsored by a mainland or LLC company. A visa sponsored by a government agency or a free zone, on the other hand, is usually valid for three years. Renewals are possible after this time.
Foreign nationals must have a business visa in order to apply for long-term residency for themselves and their dependents. Entrepreneurs from any other country with expertise in cutting-edge industries such as new technology or business may apply for a business residency visa.
Business visas are part of the Golden visa system. Foreigners can obtain a long-term visa for themselves as well as their dependents using this type of visa. Prospective entrepreneurs from any foreign country who have expertise in cutting-edge fields or new technologies are eligible for this type of visa.
Visa for investors and partners
As the name implies, the Investors in UAE and Partner Visa is granted to foreign nationals who purchase stock in an existing company. These foreigners may have stock in expats who want to start their own business in the UAE.
The maximum validity period of this visa is three years, which can be extended at the holder’s discretion. The beneficiary is legally entitled to the benefits of residing and working in the UAE. It will also give them the authority to sponsor the visas of their family members. When a foreign national establishes their own company in Dubai or invests in an existing company, the UAE grants them an investor or partner visa. The investor visa is divided into four categories, which are as follows:
Real Estate Investor Visa
This category falls under the real estate investment section, in which a residential real estate unit with a value of not less than one million dirhams must be owned, provided that the value of the mortgage in it does not exceed 50% of its value, and if the property is owned by more than one person, then each partner must contribute one million dirhams.
This visa is only valid for completed and ready-to-move-in single-family homes; it does not apply to other commercial properties or those that are under development or construction. The visa’s duration varies depending on a number of factors, ranging from 3 to 5 years, and even 10 years in some cases when the conditions for this purpose are met.
It is automatically renewed as long as the investor retains ownership of the property. If the property is worth more than 2 million dirhams, the investor can apply for a golden residence visa in Dubai for a period of ten years.
Those seeking golden residency in Dubai or any of the country’s emirates can invest in the growing real estate sector by purchasing properties in Dubai, apartments or villas, through mortgage or mortgage loan services in the UAE, and the best banks Financing.
Talk with Visa Specialist and check your Eligibility with us