In recent years, the United Arab Emirates (UAE) has introduced a game-changing initiative known as the Golden Visa. The UAE Golden Visa is a prestigious residency permit that offers long-term residence to individuals who meet certain criteria. This visa is highly sought after due to its numerous benefits, including the ability to live, work, and study in the UAE without the need for a sponsor.
But how do you secure your own UAE Golden Visa and unlock this world of opportunity?
If you are considering applying for a UAE Golden Visa, we’ve got you covered. Here we will explain everything including the application process, eligibility requirements, benefits, Golden Visa price, and much more. But first let’s understand what exactly a golden visa is.
What is a Golden Visa?
Launched in 2019, UAE Golden Visa is a long-term residency program offered by UAE government. It essentially allows foreigners to live, work and study in the UAE for a long duration, without the need for a traditional employment-based or sponsorship-based visa.
The Golden Visa offers residence permits valid for 10 years, a significant advantage compared to standard visas. The visa also allows holders to sponsor their spouse, children, and even domestic helpers for residency.
Eligibility for UAE Golden Visa
There are several categories of people who can be eligible for the UAE Golden Visa, each with its own set of requirements.
1. Investors
- Invest at least AED 2 million (around $545,000) in an UAE-based investment fund or national bank.
- Set up a company in the UAE with a minimum capital of AED 2 million.
- Be a partner in an existing company with a minimum investment of AED 2 million.
- Own a company that generates annual tax contributions of at least AED 250,000 to the UAE government.
2. Entrepreneurs
- Own an innovative business project with a value of at least AED 500,000.
- Secure approval letters from a UAE auditor, relevant authorities, and a qualified business incubator.
3. Other Eligible Individuals
- Doctors, specialists, and researchers in critical fields can apply based on their qualifications and experience.
- Students who excel academically in UAE universities or globally recognized institutions may be eligible.
Required Documents to Apply for UAE Golden Visa
The required documents for a UAE Golden Visa application depend on the specific eligibility category you fall under. However, here are the general requirements:
- Copies of your passport
- Recent passport-sized color photographs
- Proof of health insurance
- Documents proving investment in UAE, such as property ownership, company shares, or investment funds
- Copy of a valid trade license (if applicable)
- Bank statements
How to Obtain a Golden Visa in UAE?
Here’s a step-by-step guide on applying for a UAE Golden Visa:
1. Determine Your Eligibility
Before beginning the application process, confirm that you meet the eligibility criteria.
2. Gather Required Documents
Prepare the necessary documents based on your eligibility category. Ensure documents are valid, translated into Arabic if needed, and attested by relevant authorities.
3. Apply for a Golden Visa
You can apply online through the Federal Authority for Identity and Citizenship (ICA) portal or the General Directorate of Residency and Foreigners Affairs (GDRFA) depending on your location in the UAE.
- Register an account if you don’t already have one.
- Complete the Golden Visa application form with accurate details.
- Upload all the required documents in the specified format.
- Pay the applicable fees using the available payment methods.
4. Await Approval and Communication
The authorities will review your application. You can track the application status online through the chosen platform (ICA or GDRFA).
5. Receive Approval
If your application is approved, you will receive a notification. This approval is usually granted in principle, meaning you are eligible for the Golden Visa, subject to the completion of further formalities.
6. Complete Medical Tests and Emirates ID (if approved)
If your application is approved, you’ll likely need to undergo medical tests as mandated by the UAE. You’ll also need to visit the relevant authorities to get your Emirates ID processed.
7. Enjoy the Benefits of Your Golden Visa
Once everything is finalized, you’ll be able to enjoy the benefits of your UAE Golden Visa, including long-term residency, work opportunities, and the ability to sponsor family members.
Consider consulting with immigration experts or legal advisors like Shuraa who specialize in UAE residency to help navigate the process.
How Much Does It Cost to Obtain UAE Golden Visa?
The 10-year golden visa in UAE cost typically ranges from AED 2,800 to AED 4,800 depending on whether you apply inside or outside the UAE. Besides the golden visa cost, other costs should also be taken into consideration, including:
- Cost of medical test: AED 700 approx.
- Emirates ID fees: AED 1,150
These are estimated figures, and the actual cost may vary depending on specific circumstances. Additional fees might apply depending on your chosen category and emirate.
Golden Visa Dubai Benefits
The UAE Golden Visa offers a variety of attractive benefits for those who qualify, this includes:
1. Long-Term Residency
Unlike standard UAE visas that require frequent renewals, the Golden Visa grants residency for a significant period, typically 10 years. This allows you to establish yourself in the UAE with greater stability and peace of mind.
2. Greater Freedom of Movement
Compared to standard visas that often require you to stay in the UAE to maintain validity, the Golden Visa offers more flexibility. You can travel outside the UAE for extended periods without jeopardizing your residency status.
3. Tax Advantages
The UAE has no federal income tax on individuals. While some emirates levy specific taxes, Golden Visa holders may enjoy potential benefits depending on the chosen emirate and their business activities.
4. Exciting Business Opportunities
The Golden Visa opens doors to exciting business opportunities in the UAE’s thriving economy. You can invest in property, establish a business on the mainland with full ownership rights, or network with potential investors and partners.
5. Family Sponsorship
Golden Visa holders can sponsor their spouse and children (including dependents exceeding the usual age limit) for residency in the UAE. This allows you to have your family join you and enjoy the benefits of living in the UAE together.
6. Safe and Secure Environment
The UAE is known for its safety and security which makes it an ideal place to live, work, and raise a family. Golden Visa holders can benefit from this secure environment.
Shuraa Makes Golden Visa Simple
That’s all there is to it! Getting a UAE Golden Visa is a fantastic opportunity that brings many benefits, especially for investors and entrepreneurs. With long-term residency, business ownership options, and many other perks, the Golden Visa can help you thrive in Dubai’s booming economy.
If you qualify, don’t miss out! Dubai offers a dynamic and growing business environment that’s perfect for personal and professional growth. To make the application process easier, consider getting professional help.
At Shuraa Business Setup, we have a team of experts ready to assist you. From setting up your company and handling paperwork to providing PRO services and visa assistance, we’re here to make the process smooth and hassle-free. Let us be your trusted partner in achieving your business and residency goals in the UAE.