The Golden VISA in Dubai is a popular means of obtaining a longer residence permit in Dubai or the United Arab Emirates. But what are the requirements for the VISA, what is the application process and what are the costs?
Everything you need to know about Golden VISA in this comprehensive guide.
What is the Golden VISA for Dubai?
The Golden VISA in Dubai is a special residence permit that is limited to 5-10 years and can be renewed without any problems in many cases. This type of residence permit is much longer than the standard work visa, which only lasts for 2 years and then has to be renewed. However, the requirements and conditions are also considerably higher.
Advantages
The Golden VISA in Dubai offers numerous advantages over a conventional work visa. Below are the most important aspects that speak in favor of a Golden VISA.
5 - 10 years stay
Anyone who has a golden residence permit for themselves and their dependents has a UAE residence visa for up to ten years, whereas a standard residence visa must be renewed every two to three years.
Self-financed work or residence
Holders of a golden visa to the UAE can live, work and study in the country for the entire duration of their visa, with or without taking up local or other employment. The holder can work for themselves or for another company (local or otherwise) without the need for individual sponsorship. Unlike the standard residence visa, the UAE golden visa allows holders to stay in the country long-term without employment.
Sponsors" family
The UAE golden visa allows the holder to sponsor family members, including spouse and children (regardless of the age of the dependents).
If the principal holder of the golden visa for the UAE should pass away during the term of the ten-year visa, his/her family members may remain in the UAE until the natural expiry of the visa.
Holders of this visa category may also employ and support an unlimited number of domestic helpers. The golden visa for the UAE does not limit the number of persons employed and supported.
Prerequisites
Following recent changes to the UAE's residency and entry regulations, more people can apply for a golden residency visa.
Individuals who fall into the following categories are eligible to apply: Investors, Entrepreneurs, Exceptional Talents, Scientists and Professionals, Outstanding Students and Graduates, Humanitarian Pioneers and Heroes on the Frontline.
Below you will find further information on the individual categories:
1. investors (real estate)
The first and best known way to obtain the Golden VISA in Dubai is through investment. The VISA is obtained by investing AED 2,000,000. However, there are several options.
Real estate
The first way is via the investment or purchase of one or more properties. As described above, the value of the property must be AED 2,000,000 million or more. Several properties can also be combined to reach this amount.
In addition, the property does not have to be completed or paid off. This means that off-plan properties or financed properties are also suitable.
Bank deposit
The second, rather unknown but still valid option is to deposit the same amount into a bank account. With a deposit of AED 2,000,000 into the account with around 5% interest p.A., you can also apply for the Golden.
As long as you hold the property or the deposit in the account, the VISA is active and can be renewed without any problems after 10 years.
2. entrepreneurs
Real estate entrepreneurs can apply for and obtain a golden visa for the UAE if one or more of the following three conditions are met:
The applicant must be a partner or owner of a start-up company that is registered as a small and medium-sized enterprise (SME) in the UAE. The company must have an annual turnover of at least AED 1 million.
The entrepreneur must have established an entrepreneurial project that was sold for more than AED 7 million.
The applicant has a business start-up permit from an official business incubator.
3. exceptional talents
Individuals with exceptional talents, such as inventors, innovators and talents in important fields such as culture, arts, sports and digital technology, can apply for and receive a golden visa to the UAE, regardless of their educational qualification, employment status, monthly salary or professional level.
A recommendation or approval from a federal or local government agency is required for the visa.
4. scientists
Scientists and researchers who are highly successful and influential in their field can apply for a golden visa if they receive a recommendation from the Emirates Scientists Council.
In this category, potential candidates for a golden visa should have a PhD or Master's degree in engineering, technology, life sciences and natural sciences from the best universities in the world, as well as significant research achievements.
5. skilled workers
Specialists or highly qualified workers with high educational qualifications and professional experience can also apply for the golden visa. This category applies to many fields such as medicine, science and technology, information technology, business and administration, education, law, culture and social sciences.
The prerequisite for the application is an employment contract in the UAE and a classification in the first or second professional level according to the Ministry of Human Resources and Emiratization. The applicant must also have at least a Bachelor's degree and his salary must be at least AED 30,000 (per month).
6. outstanding students and graduates
Outstanding and high-achieving students from the UAE secondary school system and outstanding graduates from UAE universities are eligible to apply. This also applies to outstanding graduates of the top 100 universities worldwide.
There are several requirements, including academic performance/cumulative grade point average, one year of graduation, and university classification.
Students from top universities worldwide with a grade point average of 3.8 and above are eligible to apply for the golden visa. High school students who have achieved a grade point average of at least 95 percent on their high school transcript from public or private schools are also eligible to apply. The families of these students are also included in the visa.
7. humanitarian pioneers
Humanitarian pioneers can apply for the golden visa for the UAE. Humanitarian pioneers include respected members of international or regional charitable organizations or members of non-profit associations.
Recipients of humanitarian and charitable awards are eligible, as are recognized volunteers who assist in humanitarian, crisis-related and charitable efforts.
Summary
The golden visa in Dubai or the UAE is a great opportunity to obtain a residence permit for up to 10 years. Mostly through investment in real estate, but also through other outstanding activities. The golden visa also has other advantages, such as the independent establishment of a mainland company or the sponsorship of family members.
