UAE Golden Visa: Benefits, Requirements, and How to Apply
The United Arab Emirates offers various visa programs, with the Golden Visa being the most attractive option for foreigners. This program allows individuals to obtain residency for up to 10 years with the possibility of further extensions. Here’s what you need to know if you’re considering applying for a Golden Visa.
Who Can Get a Golden Visa:
The eligibility for obtaining a Golden Visa is quite broad. It’s not limited to scholars, businesspeople, or talented individuals. Even if you don’t have an established business or significant achievements in academia, you can qualify by making substantial investments in UAE real estate.
Starting from 2022, Golden Visa holders are no longer required to stay continuously in the UAE. Residents are free to live anywhere, even abroad, periodically returning to the United Arab Emirates.
Opportunities for Golden Visa Holders:
Let’s explore why so many foreigners aspire to hold a Golden Visa and the opportunities it provides will be further discussed. Here are the advantages that a resident can enjoy:
You can pay for medical insurance and take the driving license test.
There is no need to pay personal income taxes, for example when renting apartments or earning profits from business activities.
You can officially be employed or enrol in a prestigious university.
You can sponsor your spouse, children, and other family members.
You can grant your relatives the right to live in the UAE after the Golden Visa holder’s demise.
The validity period of the golden visa
A Golden Visa in the UAE can be obtained for 5 or 10 years. Every visa holder has the opportunity to renew their visa when it approaches expiration, and this can be done an unlimited number of times.
If the Golden Visa was initially granted to an investor in real estate, they must still own the investment property when they wish to renew their visa. After three consecutive renewals of the 10-year visa, the resident becomes eligible to apply for UAE citizenship.
How to get a golden visa in the UAE
The conditions and procedure of registration depend on who will apply for a resident visa. Let’s explore the main ways to secure a 5 to 10-year visa in the UAE:
Business Owners: To obtain a 5 to 10-year visa, you need to be a full owner or an equal partner in a business. Business owners with a minimum capital of $136,000 can apply for a 5-year visa. If the capital exceeds $545,000, you may qualify for a 10-year visa.
Scientists: Foreign scientists aiming for a 10-year visa should hold a doctoral or master’s degree from a prestigious university, have recommendations from the United Arab Emirates Council of Scientists, and demonstrate outstanding achievements in their field of research.
Professionals: Experienced professionals in fields like medicine, business, or education can qualify for a Golden Visa if they have the required qualifications, a monthly income exceeding $8,000, and a signed employment contract in the UAE.
Talented Individuals: Individuals with exceptional talent, such as high school graduates with a score above 95% or university graduates with an average score of at least 3.75, are eligible for long-term visas. Priority is given to gifted individuals in sports, culture, and digital technologies.
Investors: Those who invest in real estate in the United Arab Emirates can also qualify for a Golden Visa. To secure a 10-year visa, you need to purchase property with a value of at least $545,000. This could be a single property or multiple properties, as long as the total value meets the specified minimum. Additionally, you can choose off-plan projects from specific developers.
By selecting the last option, foreign citizens not only become residents with a 10-year visa but can also generate a stable income by renting out their property, all without the need to pay taxes.
For more information on investing in Dubai properties to generate income and applying for a Golden Visa, you can contact the experts at Mayak Real Estate. Experienced agents will help you find the most profitable investment projects and assist with the documentation required to apply for a 5 to 10-year resident visa.
