Golden Visa And Silver Visa In Uae

The ‘Golden Visa’ or ‘Investor’s visa’ and the ‘Silver Visa’ are types of long term residence visas issued to investors by the United Arab Emirates (UAE). These visas enable investors to enjoy full residency rights in the UAE, including unlimited residency durations up to 10 years, can apply for UAE citizenship after 5 years of being granted a Golden Visa or Silver Visa, and can work with no restrictions on UAE employers and firms.

UAE has grown as one of the fastest and famous tourist destinations in the world. Apart from the pristine locations such as deserts, beaches and bustling cities, it has also gained a status for being a home to the Golden Visa (GV) and Silver Visa programs. Many countries in Asia, Europe, Africa, South America and North America have opened their doors to investors from all over the world by granting citizenship in exchange for capital investment in their country. These VIP Stamps have resulted in boosting tourism and business boom for these countries.

Golden Visa And Silver Visa In Uae

Available visa options

Industry experts said there are several options available to secure residency permits in the UAE, but the top three categories include golden, silver and retirement visas.

In addition, a Dubai investor visa or a partner visa is available to those who are keen to invest Dh1 million or more in a single residential property with the condition that a maximum of 50 per cent of the property value should be under mortgage with the bank.

Moreover, investors who have invested in the UAE or have started a business in Dubai’s mainland or free zone can also be eligible to apply for the investor visa.

“The minimum capital requirement as an investor in a company would be buying shares in an existing company worth at least Dh72,000 or establishing a company with a capital investment worth the same amount,” according to an industry expert.

Golden and silver visas are top choices

Pratik Rawal, managing partner, Ascent Partners, said golden visa is more popular among the investors who are keen to make long-term investments in Dubai.

“Golden visa with 10-year validity is in demand as it gives expatriates freedom to enter Dubai without any conditions, and they can stay outside the country for more than six months. Investors prefer to secure long-term visa against their investment and golden visa serves this purpose,” Rawal told Khaleej Times on Friday.

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Reforms generate interest

Fadi Rizkallah, general manager at Freedom2Work.com, said the recent visa reforms have generated much interest among investors, entrepreneurs and HNWIs.

He said millionaires and HNWIs prefer to avail long-term validity of golden visa with its other key features such as no requirement for an employment sponsor, ability to sponsor family members, including spouse and children, and sponsoring domestic helpers.

“The silver visa, with five-year validity and minimum Dh2 million investments, is also in demand by small business owners and entrepreneurs,” Rizkallah said.

“Investors, who are keen to be part of booming Dubai market, have shown interest in silver visa as it just requires Dh2 million investment in the residential sector to secure 5-year residency permit in the emirate,” he said.

In reply to a question, he said there are several enquiries about green visa, but its eligibility criteria and other details are yet to come.

“As the green visa has not yet started so, we are unable to answer the enquiries, but it has generated interest among the investors,” he said.

Freelancing work

Under the recent visa and business reforms, the government has offered multiple options to those individuals who are keen to start freelance work in Dubai.

Advertisement”Many freelancers, including photographers, bloggers, social media influencers and tutors, are given the ability to secure a freelancer visa. Dubai Creative Cluster took the initiative followed by Dubai Design District, Dubai Airport Free Zone Authority and Dubai Culture have given freelancers many options to choose a right visa to start freelance work in the emirate,” Pratik said.