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Know Everything About UAE Golden Visa 2023: FAQs Answered  

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Anything that has gold in it is worth the chase, whether bling or visa. And we can help you with your pursuit, whether you are looking to obtain a Gold Trading Licence in Dubai or a UAE Golden Visa. For the former, you may go to our page talking about a Gold Trading business setup and for the latter stay here and keep reading. 

The demand for the UAE’s Golden Visa and second passports is set to surge among high net-worth individuals (HNWIs), according to a report by Gulf News. The UAE is expected to attract the second-highest net inflow of HNWIs in 2023, with an estimated 4,500 new millionaires arriving this year. This is due to the country’s attractive investment climate and the benefits offered by the Golden Visa, such as long-term residence and access to global markets.

The UAE Golden Visa remains an attractive option for investors, with a starting price of Dh2 million, compared to the Portuguese citizenship by investment program, which costs $280,000. The US program requires a higher investment of $800,000, which must be held for five years.

The top nationalities currently driving demand for second passports and Golden Visas are Indians and Americans, with Britons and South Africans also in the top 10. Wealthy individuals from countries such as Nigeria, Syria, Iraq, Lebanon, Yemen, and Egypt are increasingly exploring Residency and Citizenship by Investment programs to secure their family’s future.

The demand for the UAE Golden Visa and second passports is set to surge among high net-worth individuals. This trend is driven by the attractive investment climate in the UAE, the benefits of the Golden Visa, and the desire of investors to safeguard their access to global markets.

Table of Contents

What is Golden Visa UAE? 

Launched in 2019 to attract, retain and reward exceptional talent across the world, the UAE Golden visa is the most-desired long-term residency visa in the UAE that is designed for a specific group of foreigners wanting to reside, work or study in any of the emirates of the country without the need for any sponsor while relishing the exclusive perks. The maximum validity period for the UAE Golden Visa can be either 5 years or 10 years which is extended automatically subject to meeting the specific criteria again. The eligible applicants for the UAE Golden Visa can be wealthy investors and businesspersons, outstanding students, super-talented individuals in particular fields and deserving candidates falling in a specific category such as humanitarian pioneers and frontline heroes. 

Why UAE Golden visa? 

The United Arab Emirates offers a long-term residence visa, known as the Golden Visa, to investors, entrepreneurs, scientists, qualified professionals, and exceptional talents. This program, initiated in 2019, has recently updated its conditions, making it more accessible and advantageous for potential applicants.

The Golden Visa can be obtained by investing in real estate within the UAE. The minimum investment for a 10-year Golden Visa is AED 2 million ($545,000), while a 2-year residence visa can be secured with an investment of AED 750,000 ($204,000).

The benefits of the UAE residency visa are numerous. It allows investors and their families to move to one of the wealthiest and most developed countries worldwide, without any obligation to reside in the UAE. It offers tax optimization, with exemptions from income, capital gains, inheritance, gifts, and property taxes. It also allows investors to open bank accounts in the UAE, obtain a driver’s license, access the UAE healthcare and educational systems, and even apply for UAE citizenship under certain conditions.

The UAE Golden Visa is a unique opportunity for foreign investors to establish a strong foothold in a thriving economy, offering both financial benefits and a high standard of living.

If not citizenship, you want at least long-term residency in advanced countries like the United Arab Emirates. Probably this is one of the reasons why UAE’s Golden Visa is one of the most-coveted visas in the UAE. In addition to long-term residency, there are myriad other benefits that the UAE Golden Visa holder can relish throughout their stay in the country. For starters, the applicant of a Golden Visa gets multiple-entry six months visa to complete the residence issuance process. Once they are awarded a Golden Visa UAE, they can enjoy renewable residency of up to 10 years. 

What are the advantages of Golden visa UAE?

The world is your oyster when you have a UAE Golden Visa. Holding a UAE Golden Visa means you: 

  • will be granted a multiple-entry visa for a period of 6 months to complete the residency issuance process if you are from outside the UAE  
  • you don’t have to worry about the renewal of the visa. After 5 years or 10 years (whichever is applicable), the validity of the UAE Golden Visa automatically gets extended 
  • are authorised to enter UAE for a period of 6 months with a multiple-entry visa to assess the business projects in one of the emirates. The same visa will be changed into a Golden Visa of 10 Years upon project completion provided the requirements of the Federal Authority for Identity and Citizenship are met.  
  • will receive a temporary visa for a period of one month so can switch to Golden Visa UAE  
  • may sponsor your family (wife, children and parents) as per the regulations and the conditions  
  • own investment projects such as real estate, trade and industry  
  • can enjoy a multitude of discounts depending on the type of Golden Visa UAE  
  • can nominate 3 employees or partners in the project to obtain the Golden Visa within the capacity of your entrepreneurship  
  • can sponsor your families whenever you have the financial capabilities if you are a student golden visa holder  
  • can apply for the Esaad card and privileged 
  • can have comprehensive insurance coverage ranging between AED 2,000 – AED 50,000 depending on several factors such as age, health, hospitals/clinics covered etc.  
  • are in for discounts and offers on cars, property (for instance, properties from developer Imkan Properties), health care, hospitality, health insurance, and banking services 
  • qualify for special deals on dining, spa treatments, gyms, and stays at selected hospitality destinations in Abu Dhabi 
  • will receive reduced mortgage fixed-interest rates, if it’s a Real Estate golden visa 
  • can enjoy reduced premiums on annual health insurance plans for families and individuals 

What are the documentation requirements to apply for the Golden Visa UAE? 

All that glitters is gold indeed! The glittering emirates of the UAE present golden visas to wealthy or talented foreigners around the world who meet certain benchmarks. There are various channels to get a Golden Visa if you meet the eligibility requirements and furnish the supporting documents mentioned below.  

Golden Visa UAE Requirements to Meet 

For Investors 

1) Investor must have AED 2 million or above as a deposit  

2) NOC and Memorandum (in case of company licence)  

3) Company and Personal Bank Statement  

4) Passport Copy  

5) Visa Copy  

6) Personal Photo 

7) Valid Medical Insurance  

8) Medical Test  

9) Emirates ID  

10) The latest 1-year Audit Report  

Investors seeking to obtain the UAE’s Golden Visa can do so by investing in real estate. The minimum investment amount for a 10-year Golden Visa is AED 2 million (approximately $545,000). Alternatively, a 2-year residence visa can be obtained by purchasing real estate for AED 750,000 (around $204,000).

The step-by-step process to obtain the Golden Visa is as follows:

  1. u003cstrongu003ePreliminary Due Diligence (1 day):u003c/strongu003e

    u003cstrongu003ePreliminary Due Diligence (1 day):u003c/strongu003e Immigrant Invest conducts a preliminary check to prepare for the program’s primary Due Diligence. This initial check allows them to find possible issues and raise the chances of getting a visa.

  2. u003cstrongu003ePreparation of Documents and Getting a 6-months Visa (5-7 weeks):u003c/strongu003e

    You get a list of documents for an application from Immigrant Invest lawyers. Then you submit the original documents, and the lawyers translate them, notarise and conduct consular legalisation. To have an opportunity to see the properties to buy, pass a medical checkup and apply for a golden visa in the UAE, you’ll receive a 6-months visa.

  3. u003cstrongu003ePurchase of Real Estate (5-6 weeks, at the same time with the preparation of documents):u003c/strongu003e

    You can buy a property without visiting the UAE. Immigrant Invest’s real estate professionals will offer you some options that might suit your goals and wishes. Their lawyers help to conclude the purchase and sale agreement and register ownership.

  4. u003cstrongu003eMedical Checkup (1-5 days):u003c/strongu003e

    The investor and their family members over 18 years old undergo a medical checkup in a UAE clinic. They are tested for dangerous infectious diseases and pass fluorography to obtain a certificate of health status.

  5. u003cstrongu003eDue Diligence and Getting the UAE Residence Visa (Up to 30 days):u003c/strongu003e

    The inventors and their family members come to the UAE to apply for the visa and give biometrics to the General Directorate of Residency and Foreigners Affairs. Immigrant Invest lawyers accompany them. Usually, the application consideration takes five to seven days. If additional questions occur, the investor and their lawyers have 30 days to answer. After the application’s approval, the investor and their family get visas.

Please note that the costs associated with obtaining the visa include the purchase of real estate, registration fee, state fees for issuing visas and identity cards, medical checkup, health insurance, and translation of documents, notarisation and consular legalisation.

For Professionals (Doctors)  

1) Valid DHA Doctor Licence for full-time practice  

2) Labour Contract copy & labour card copy if 2 years visa under MOHRE  

3) Passport Copy  

4) Visa Copy + Labour Contract  

5) Personal Photo  

6) Valid Medical Insurance  

7) Medical Test  

8) Emirates ID  

9) No Objection Certificate (NOC)  

For Executive Directors (Managers)  

Senior employees such as executive directors or an advisor appointed by an investor in public investments may be entitled to apply for a Golden Visa without a sponsor. 

1) Holding a certificate degree from a university (attested by MOFA)  

2) Minimum 5 Years of experience.  

3) Salary not less than AED 50,000  

4) Valid Work Contract  

5) Passport Copy + Last 5 Visas copy  

6) Personal Photo 

7) Valid Medical Insurance  

8) Medical Test  

9) Emirates ID  

10) Equivalency certificate from the Ministry of Education 

11) NOC from Company  

For Creative Talent (Field: Culture & Arts)

1) Having an approval letter from the Department of Culture and Arts in the relevant Emirates  

2) Passport Copy  

3) Visa Copy  

4) Personal Photo 

5) Valid Medical Insurance  

6) Medical Test  

7) Emirates ID  

For Special Talent (Fields: Science & Athletes)  

1) An approval letter from the Department of Culture & Arts in the relevant emirates  

2) Passport Copy  

3) Visa + Labour Contract  

4) Personal Photo 

5) Valid Medical Insurance  

6) Medical Test  

7) Emirates ID  

For Special Talent (PhD Holders) 

1) A certificate copy of the PhD from the Ministry of Education in one of the priority disciplines (PhD Degree)  

2) Passport Copy  

3) Visa + Labour Contract  

4) Personal Photo 

5) Valid Medical Insurance  

6) Medical Test  

7) Emirates ID  

Special Talent (Field: Engineering & Science) 

1) Certificate copy of the University degree from the Ministry of Education in one of the mentioned majors (Engineering and science Fields)  

2) Work Contract for a profession of the mentioned specializations (Engineering and Science Fields)  

3) Passport Copy  

4) Visa + Labour Contract  

5) Personal Photo 

6) Valid Medical Insurance  

7) Medical Test  

8) Emirates ID  

9) NOC from the company  

For Bright Students (High School Pass-outs)  

1) A recommendation letter from the Ministry of Education  

2) Passport Copy  

3) Visa + Labour Contract  

4) Personal Photo 

5) Valid Medical Insurance  

6) Medical Test  

7) Emirates ID  

For Outstanding Students (University Pass-outs)

1) An approval letter from a university stating GPA not less than 3.8  

2) Passport copy  

3) Visa + Labour Contract  

4) Personal Photo 

5) Valid Medical Insurance  

6) Medical Test  

7) Emirates ID 

What is the UAE Golden Visa Application Process? 

You may apply for the UAE Golden visa either online using the smart GDRFA app or through an authorised service provider, who can be your business setup consultant as well if not Amer. The procedure is easy and quick, provided you have all the supporting documents handy. The UAE Golden visa application process involves the below-mentioned steps if you take the DIY route. 

  • Download the free GDRFA-Dubai Smart Application in your smart gadget through the applicable App Store. Apple store/Play store 
  • Sign up for the user account 
  • Choose the required service 
  • Upload the documents supporting your eligibility for the Golden visa 
  • Pay the application fees applicable in your case 
  • Submit the application 

On the other hand, if you choose the latter route to obtain your Golden visa, then follow these steps. 

  • And leave the rest to us 
  • We will help you prepare all your documents proving your Golden visa eligibility 
  • Pay the fees at the time of application submission 

What are the categories under the UAE Golden Visa Scheme? 

If you think that the UAE Golden visa is available to wealthy people only then allow us to enlighten you that outstanding students, super-talented individuals in particular fields and deserving candidates who belong to the category namely humanitarian pioneers & frontline heroes. Thanks to the new categories of individuals eligible to apply for the long-term 10-year visa added to the UAE Golden Residence Scheme, under a new set of executive regulations. On meeting specific criteria, Golden visa UAE can be applied by: 

  • Athletes 
  • Creative specialists in Culture and Art 
  • Executive Directors 
  • Entrepreneurs 
  • Retired Foreigners 
  • Visa for Investors 
  • Specialists in Engineering and Science 
  • Inventors 
  • Scientists 
  • Outstanding Students 
  • Doctors 

In order to qualify for the UAE Golden visa, each afore-mentioned category of applicants must ensure that they are able to meet the following candidacy conditions

Real Estate Investors

  • own property worth at least AED 2 million,  
  • own a property with a loan from specified local banks, or 
  • own one or more completed or off-plan properties of no less than AED 2 million from a list of approved local real estate companies 

Entrepreneurs & Start-up Owners

Start-up Investors are eligible for the UAE Golden Visa if their company is registered within the UAE, and it should fall under the small and medium enterprises (SME) category with annual revenues of AED 1 million or above. 

Entrepreneurs are eligible for the UAE Golden Visa if:

  • the person is a founder or one of the founders of a previous entrepreneurial project that was sold with a total value of not less than AED 7 million (USD 19,05,850.80) 
  • the approval of the Ministry of Economy or the competent local authorities is required for projects or ideas 

Exceptionally Talented People

  • The applicant must be from the field of art, culture, digital technology, sports, innovation, medicine and law 
  • They must present the recommendation or approval of a federal or local government entity 

Note: The decision to grant the 10-year Golden visa under this category solely depends on the talent of the applicant and has nothing to do with their educational qualification, employment status, monthly salary or professional status. 

Scientists/Inventors/Researchers

The Golden Visa is granted to those scientists and researchers who have: 

  • a PhD or Master’s degree in engineering, technology, life sciences and natural sciences from the world’s best universities. 
  • a recommendation from the Emirates Scientists Council to avail of this Visa. 

Skilled Professionals

Skilled Professionals can be from any field and discipline, including but not limited to education, law, science and engineering, information technology and social sciences amongst myriad others. To qualify for Golden visa UAE, Skilled professionals are required to fulfil the following conditions: 

  • Must possess a bachelor’s degree 
  • They must hold a valid contract of employment in the UAE 
  • Their job must fall under the occupational level one or two as defined by the Ministry of Human Resources Emiratisation (MoHRE). 
  • their minimum monthly salary should not be less than AED 30,000

Note: Skilled professionals (classified in the first or second occupational level as per MOFA classification) are eligible for an extended 6 months’ grace period. 

Bright Students

Bright Students with exceptional academic excellence, having acquired high scores either in UAE secondary schools or universities are also eligible to apply for the 10-year Visa or the Golden Visa scheme provided they: 

  • have studied at the world’s 100 best universities. Criteria include academic performance/cumulative average, year of graduation and university classification 

Note: Students who have finished their studies qualify for the extended 6 months grace period. 

The Humanitarian Pioneers

The humanitarian Pioneers category contains those people who are either one of the following: 

  • Distinguished members of international and regional organizations 
  • Outstanding members of associations of public benefit 
  • Recipients of recognition awards in humanitarian fields 
  • Distinguished volunteers and sponsors of humanitarian efforts 

Doctors and Nurses, the first line of defence, are awarded UAE Golden visa in “recognition of their efforts and sacrifices”. The approved candidacy for this Golden visa UAE category involves: 

  • All doctors licenced by the UAE health regulations between July 2021 and September 2022 through the ICA’s golden residency services for doctors.  
  • Nurses and medical staff, the unsung heroes of the UAE’s COVID-19 fight 

FYI, 7 centers affiliated with the FAIC (Federal Authority for Identity & Citizenship) have been inaugurated across the Emirates for doctors and nurses who wish to apply for visas in person. 

Athletes

Athletes are now also eligible for receiving the prestigious Golden visa. The requirements for obtaining the UAE Golden visa under this category are: 

  • A recommendation letter issued by the General Authority of Sports in Dubai OR the Dubai Sports Council 
  • A copy of the sponsored passport 

FAQs 

u003cstrongu003eWhat are the eligibility criteria for a 5- and 10-year UAE Investor Golden Visa?u003c/strongu003e 

u003cstrongu003e5-year UAE Investor Golden Visau003c/strongu003e u003cbru003eIndividuals who own properties worth AED 2 million or more in the UAE are eligible to apply for a five-year Golden Visa, provided the properties are not loaned. Even if it is on loan, they must own equity no less than AED 2 million of the value of the properties to still remain eligible for the visa. u003cbru003eu003cstrongu003e10-year UAE Investor Golden Visau003c/strongu003e u003cbru003eAn individual qualifies for a 10-year Golden Visa basis their investment made in the UAE without a sponsor if: u003cbru003eTheir investments in the UAE must be at least AED 2 million either in the form of investment funds accredited in the UAE or a u003ca href=u0022https://www.dubaibusinessadvisors.com/blog/trade-license/the-commercial-licence-in-dubai-explained/u0022 target=u0022_blanku0022 rel=u0022noreferrer noopeneru0022u003ecommercialu003c/au003e or u003ca href=u0022https://www.dubaibusinessadvisors.com/blog/trade-license/dubai-industrial-licence/u0022 target=u0022_blanku0022 rel=u0022noreferrer noopeneru0022u003eindustrial licenceu003c/au003e, where the memorandum of association (MoA) of their legal entity states the paid-up capital of the said company is at least AED 2 million. u003cbru003eShe/he is the owner of a company in the UAE and pays tax of not less than Dh250,000 annually to the Federal Tax Authority. u003cbru003eu003cstrongu003eNote: : u003c/strongu003eA UAE investor Golden Visa holder can also include his or her spouse and dependents while applying for the Golden Visa.

u003cstrongu003eCan a retired foreigner apply for the UAE Golden Visa?u003c/strongu003e 

Any retired foreigner who is at least 55 years old and has invested AED 1 million or a monthly income of Dh15,000 is also eligible for the UAE Golden Visa. 

u003cstrongu003eWhy so many people are applying for UAE Golden Visa? How can it benefit me?u003c/strongu003e 

There are a host of reasons why so many people want to hold a UAE Golden visa. However, adequate stability of residency, freedom of choosing a career path and its valuable features are the major ones. Plus, the visa is a self-sponsored residence permit issued for up to 10 years. Which is all the more reason why so many people hanker after the Golden visa. 

u003cstrongu003eHow can I find out if I am eligible for the Golden visa in UAE?u003c/strongu003e 

The Federal Authority for Identity and Citizenship has made it easy for prospective Golden visa UAE applicants to test their eligibility by publishing a new online quiz of about 16 simple yes/no questions about property investment, university degree, job role, creative achievements, businesses, humanitarian work, and more. And the best part? The assessment also tells at the end which category you should apply for. u003ca href=u0022https://smartservices.icp.gov.ae/echannels/web/client/guest/index.html#/checkEligibilityu0022 target=u0022_blanku0022 rel=u0022noreferrer noopeneru0022u003eClick hereu003c/au003e to check your Golden visa candidacy right away.

u003cstrongu003eWhat are the next steps after passing the UAE Golden visa eligibility test?u003c/strongu003e 

First off, congratulations! Next up, prepare the paperwork and apply online through the website of the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) or simply ping us u003ca href=u0022https://www.dubaibusinessadvisors.com/contact-us/u0022 target=u0022_blanku0022 rel=u0022noreferrer noopeneru0022u003ehereu003c/au003e, your Golden Visa specialist in Dubai, UAE. You will be contacted in no time. We will do all the spadework including the paperwork involved in obtaining the UAE Golden Visa from the beginning till the end, so you don’t have to. 

u003cstrongu003eWhat is the cost of the Golden visa UAE?u003c/strongu003e 

The cost of the 10-year Golden visa in UAE is between AED 2,800 and AED 3,800 for candidates who are applying from the UAE and between AED 3,800 and AED 4,800 for those who are applying from outside the UAE. 

u003cstrongu003eHow can I apply for UAE Golden Visa?u003c/strongu003e  

Well, the process is quite straightforward and the cherry on top is you can apply it from the comfort of your couch. All you need is your laptop or smartphone, the required documents and a bank card to make the application fee payments. The process starts with finding out if you are an eligible candidate for the Golden visa UAE. After your candidacy is confirmed, follow the below-listed steps:  u003cbru003eu003cstrongu003e1. Create a user account on ICA smart services platform  u003cbru003e2. Fill up the Golden visa application Form  u003cbru003e3. Attach the supporting documents to your application u003cbru003e4. Recheck the information provided for any errors u003cbru003e5. Pay the visa fee and  u003cbru003e6. Lastly, submit the application  u003c/strongu003e

How can I apply for UAE Golden Visa?  

Or simply get in touch with Adam Global Golden visa experts in Dubai. Book your free consultation today. When you work with one of the best Golden visa service providers in Dubai, UAE, the process is an easy breeze. 

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