As accountants, you’re on the lookout for offers that can help your clients or employees. As an accountant, you know what it takes to plan your finances. It’s not always easy, but it is something that becomes a routine after a while. If you are looking for a way to improve your financial situation and that of your clients, you may want to invest in a ‘golden visa’ – which is a special permit issued by many countries that allows individuals who don’t have nationality within the country to live there. Italy is one of the most popular international residence and citizenship by investment options. Golden Visa for Investments to Italy is a residence permit which allows investors to obtain an Italian residence permit. The applicant can reside either in Italy or in any other European country (Schengen’s member states).

Golden Visa For Chartered Accountants

But in recent years, as the demand for residency has grown, several European countries have introduced Golden Visa schemes to help kick start their property market. The concept of ‘Golden Visas’ originated in Portugal in 2010, where investors could gain residency by making a minimum investment of 500,000 euros. Now there are 25 countries that offer similar schemes.The Portuguese Golden Visa program has been proclaimed as the most lucrative immigration program for investors in the world. This program awards foreign investors or their descendants a residency permit in Portugal if they meet all requirements which mainly include purchasing real estates of a minimum value, or other types of investments, of at least 500.000 euros in Portugal.

Planning to Apply for a Golden Visa? UAE Auditors Can Help You

October 14, 2021Auditing

With numerous investors, celebrities, doctors and other talented individuals securing the prestigious UAE Golden Visa, a significant number of individuals are enquiring about the process and eligibility to apply. The Golden Visa allows foreigners to live, work or do business in the UAE without a sponsor. However, foreign investors applying for the Golden Visa must submit audit reports to prove the value of their net worth. Auditors in Dubai can help foreign investors secure a Golden visa by providing audit reports and net-worth certificates.

Before proceeding with the application, interested individuals must know what’s a UAE Golden Visa; who is eligible to apply, and how audit firms in Dubai can help you clear the process. This article will share insights on such matters apart from explaining to you why audited financial statements are required to apply for a UAE Golden Visa. Read ahead.

What is a Golden Visa?

The Golden Visas allow eligible candidates long-term residency up to 10 years or 5 years. Foreign investors can apply for a UAE Golden Visa if they meet the requirements set by the government regarding the type and value of the investment. The Golden Visas will be automatically renewed upon expiry, and the visa holders can also sponsor the residency visas of their dependents (spouse, children etc.) as well. Audit firms in Dubai can help the investors to demonstrate evidence for their property investments, which is a mandatory requirement.

Eligibility Criteria for UAE Golden Visa

The following types of Individuals are being granted Golden Visas in the UAE:

• Investors
• Entrepreneurs
• Specialised Talents & Researchers
• Exceptional Students
• Managers & CEOs (as per a new amendment as part of the UAE Project 50 programme)
• Coders

Golden Visa Eligibility Criteria for Investors (10-year Visa)

Individuals who have a significant amount of investments in the UAE can apply for a Golden Visa. The investments can be in the form of,

• A deposit of a minimum of AED 10 million in an investment fund inside the UAE
• Setting up a company in the UAE with a capital of at least AED 10 million
• Being a partner in an existing or a new company holding a share value of at least AED10 million (audit report must be submitted)
• Holding a total investment not less than AED 10 million in all areas mentioned, given that the investment in areas other than real estate shouldn’t be less than 60% of the total investment
• The investment should not be a loan or mortgage
• The applicants should retain the investment for not less than three years
• Financial solvency of up to AED 10 million ought to be there

Golden Visa Eligibility Criteria for Investors (5-year Visa)

The following conditions must be met for a Five-year Golden Visa:

• The applicant must invest in a property of a gross value of not less than AED 5 million
• The property should not be mortgaged.
• The applicants must retain the property for at least three years

Main Requirements for Obtaining a Golden Visa

Foreign investors who wish to apply for a Golden Visa must meet certain requirements for which they can seek the help of audit firms in Dubai. The following are the major requirements for obtaining a UAE Golden Visa.

• Audit reports for the previous two years
• Bank statements for the last six months
• Real estate license if relevant
• Net-worth Certificate issued by auditors in UAE

Why is Audit Mandatory for UAE Golden Visa?

Investors need to submit the audit report to establish that they have met the investment requirements as specified by the UAE government. The need for conducting the audit emerges when the applicant wants to demonstrate their worth of investments in the UAE. The investment can be in a company and the audit report can help the Immigration Authority to validate the eligibility of the investor. The Golden Visa audit report helps the authorities ensure that the documents presented are true and accurate.

Why is Net-worth Certificate Mandatory?

An auditor Certificate or a Net-worth Certificate is mandatory for investors to obtain a Golden Visa in the UAE. Net worth is calculated as the value of assets an individual or a corporate entity owns after deducting the liabilities from the total asset. Immigration authorities demand a Net-worth Certificate from applicants to check if they are financially sound and meet the investment specified. Consult with the best audit firms in Dubai to obtain a Net-worth certificate to clear the Golden Visa requirements.

Consult with Auditors in Dubai to Obtain a Golden Visa

The introduction of the Golden Visa marks a watershed moment in the investment landscape of the UAE as it enables the migration of more wealthy and talented individuals into the country. The UAE Golden Visa is being granted to individuals who meet the requirements specified by the authority. For instance, the investors need to present an audit report and a Net-worth certificate to get hold of a UAE Golden Visa. This is where the leading auditors in Dubai, such as Jitendra Chartered Accountants (JCA), come in handy for the Golden Visa applicants.  JCA is one of the top Chartered Accountant firms in Dubai that offers audit report services for Golden Visa applicants. JCA has a team of highly qualified auditors, accountants, and business consultants who can offer robust advisory on the process of obtaining a Golden Visa in the UAE. Our audit reports and Net-worth Certificate are prepared in line with the required standards to enable a faster visa approval for foreign investors