Golden Visa For UAE Means

Those looking to participate in the Dubai Golden Visa are at the right place. You can buy or lease properties here with all the information you need about the program.The golden residence visa (also known as the “investment visa”) was introduced by the Abu Dhabi Global Market (ADGM) in October 2015 and offers a new way of attracting high-net-worth individuals to invest in the emirate.

The UAE Golden Visa program has been around for a year now. It provides UAE residents and citizens a fast track visa program to obtain residence permits/visas from different home countries in the world. The program has attracted almost 100,000 people in just a year and this number continues to grow.

Touriangle affords you unrestricted access to tons of valuable information on advantages and disadvantages of UAE golden visa, UAE golden visa processing time, golden visa UAE for doctors, and so much more. You don’t want to miss this!

Golden Visa For UAE Means

Dubai’s property sector crashed in 2009 after the Dubai World debacle and since then, new launches have been few and far between. Now however, the government has launched a new project called the Golden Visa which will help bring back buyers to this market. For people who reside in other countries like India or the UK, buying a property in Dubai would not have been possible. However, with the introduction of this new visa programme, there is a growing interest as well as confusion among buyers and investors. Let’s get you up to speed with everything you need to know about this!

What Does Golden Visa For UAE Means

What is the UAE’s Golden visa?

The UAE’s ‘Golden visa’ is a long- term residency visa which enables foreign talents to live and work or study in the UAE while enjoying exclusive benefits which include:

• an entry visa for six months with multiple entries to proceed with residence issuance
• a long term, renewable residence visa valid for 10 years
• a self-sponsored visa, as there is no need for an employment sponsor
• ability to stay outside the UAE for more than the usual restriction of six months in order to keep their residence visa valid
• sponsoring their family members, including spouse and children regardless of their ages
• sponsoring unlimited number of domestic helpers
• allowing family members to stay in the UAE until the end of their permit duration, if the primary holder of the Golden visa passes away.

Who is the Golden visa for?

The Golden visa is for:

1. Investors

Real estate investors can obtain a Golden visa in the UAE if they fulfil one of the following conditions: 

• purchase a property worth no less than AED two million or
• purchase a property with a loan from specific local banks or
• buy one or more off-plan properties of no less than AED two million from approved local real estate companies.

     2. Entrepreneurs

Entrepreneurs can obtain a Golden visa if they fulfil one of the following conditions:

• ·own or partner in a start-up registered as a small and medium enterprises (SMEs) in the UAE, and the company generates annual revenues of not less than AED one million
• ·obtain an approval for a start-up idea from an official business incubator or from Ministry of Economy or other competent local authorities
• must have founded an entrepreneurial project that was sold for a total amount of not less than AED seven million.

3. Exceptional talents

Inventors, innovators, and exceptional talents in vital fields such as culture, art, sports and digital technology can obtain a Golden visa regardless of their educational qualification, employment status, monthly salary or professional level. The visa requires a recommendation or approval from a federal or local government entity.

4. Scientists and professionals

Scientists

Scientists and researchers with high achievements and influence in their field can get the Golden visa based on a recommendation from the Emirates Scientists Council. A candidate should have a PhD or a Master’s degree in one of the disciplines of engineering, technology, life sciences and natural sciences from the best universities in the world, as well as substantial research achievements.

Professionals

Professionals or highly-skilled workers with high educational qualifications and professional experience in all disciplines, including medicine, sciences and engineering, information technology, business and administration, education, law, culture and social sciences can get the Golden visa if they:

• have a valid employment contract in the UAE
• are classified in the first or second occupational level as per the classification of Ministry of Human Resources and Emiratisation
• hold a Bachelor’s degree or equivalent
• have a monthly salary of not be less than AED 30,000.

5. Outstanding students and graduates

High performing students in the UAE’s secondary schools and outstanding graduates from the UAE’s universities and the best 100 universities worldwide can get the Golden visa. Criteria includes academic performance/cumulative average, year of graduation and the university classification.

6. Humanitarian pioneers

Humanitarian pioneers such as the following can get the Golden visa:

• distinguished members of international and regional organisations
• ·outstanding members of associations of public benefit
• recipients of recognition awards in humanitarian fields
• distinguished volunteers and sponsors of humanitarian efforts.

7.Frontline heroes

Frontline workers with extraordinary efforts in crises, such as the COVID-19 pandemic can also get the Golden visa.

Aiming at attracting and retaining talents, the UAE updates the Golden Residence rules as a part of the new Entry and Residence Scheme. The scope of beneficiaries is expanded offering more benefits including 10 years renewable residence.

UAE Golden Visa New Rules

Golden Visa UAE latest news and rules 

As of now, Golden Visa holders may apply to sponsor their parents for a 10-year residency. Previously, Golden Visa holders may only sponsor a parent for a one-year stay as was the case with normal residency holders.

Additionally, Golden Visa holders are exempt from paying the deposit required to sponsor parents. They only need to present a certification from their respective consulates attesting to the fact that they are the parents’ sole caregivers.

Changes to the Golden Visa system will allow for even more accessibility for foreign nationals to live, work, conduct business and study in the UAE without requiring a national sponsor.

UAE Golden Visa Benefits

Golden Visa UAE benefits and advantages

Some of the benefits of the Golden Visa in the UAE are as follows:

• an entry visa for six months with multiple entries followed by the issuance of residency permits
• a long-term, renewable residence visa valid for 10 years
• a self-sponsored visa
• ability to stay outside of the UAE for any amount of time without having their visa nullified 
• sponsoring their family members, including spouses and children regardless of their ages
• sponsoring an unlimited number of domestic helpers
• allowing family members to stay in the UAE until the end of their permit duration in the event the primary holder of the Golden Visa passes away

Additionally, there are Golden Visa benefits specific to individual emirates as follows.

Abu Dhabi

• Golden Visa holders in Abu Dhabi will be entitled to discounts and offers on cars, property, health care, hospitality, health insurance and banking services. The Resident’s office has teamed up with companies across a range of industries to offer the incentives.
• under the Abu Dhabi Residents Office’s commercial partnerships, Abu Dhabi golden visa holders will be entitled to discounts on selected properties from developer Imkan Properties.
• banks, including Abu Dhabi Commercial Bank and First Abu Dhabi Bank, will offer real estate golden visa investors reduced mortgage fixed-interest rates and non-real estate investors attractive rates on savings accounts.
• the holders will also be entitled to reduced premiums on annual health insurance plans for families and individuals, with diverse network coverage and a bundle of benefits both inside and outside the UAE.
• Golden visa holders will also be eligible for price reductions on cars and will receive priority booking for new releases, in addition to special payment facilities, maintenance offers and licensing services.
• they will receive special offers for dining, spa treatments, gyms and stays at selected hospitality

Dubai

As stated by the authorities, foreign residents in Dubai who have a golden visa and a driving license from their home country can now take a UAE driver’s test without needing extra lessons.

Additionally, if the golden visa holders have a license from one of 32 approved countries, including the US, the UK, Australia, Italy, Saudi Arabia, South Africa, Spain, New Zealand, Qatar, Kuwait and Ireland, they will automatically be eligible for a UAE driver’s license.

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has announced that a 10-year residency Golden Visa will be granted to outstanding expatriate students and their families in Dubai. They will also be given discounts to pursue their higher education in international university branches in Dubai.

Esaad privilege card

The Dubai Media Office has announced that Golden Visa holders in Dubai will be gifted the coveted Esaad privilege card. The card will be provided free of charge to holders of 5-year and 10-year Golden Visas in Dubai.

Select categories of Golden Visa holders in Dubai will receive the Esaad card. These categories include

• Investors in public investment funds
• Real estate investors
• Entrepreneurs
• People with specialised talents and researchers in science and knowledge, such as scientists, doctors, specialists, inventors
• Creative people in culture and art
• Executive directors
• Specialised academics
• Professional sportspeople
• PhD degree holders specialising in engineering or science, humanitarian aid workers
• Outstanding university and high-school graduates

For details on what the benefits of the Esaad Card actually entail, please refer to our dedicated article below.

Golden Visa insurance

Golden Visa holders can apply for comprehensive insurance coverage that could range between AED 2,000 – 50,000 depending on several factors such as age, health, hospitals/clinics covered etc. The National Health Insurance Company (Daman) has introduced health insurance packages for Golden Visa holders which are valid for 1 year and can be renewed on a yearly basis. Premiums for all insurance plans will vary according to age and the plan option chosen.

Golden Visa UAE Eligibility

Golden visa requirements

Requirements for the Golden visa depend on the type of residence, whether investor, talent, entrepreneur, etc.

Investors in public investments

If you invest in an investment fund, you may be granted a Golden Visa for a period of 10 years without a sponsor, subject to the:

1. submission of a letter from an investment fund accredited in the UAE stating that the investor has a deposit of AED two million, or
2. submission of a valid commercial licence or industrial licence and a memorandum of association stating that the investor’s capital is not less than AED two million
3. submission of a letter from Federal Tax Authority stating that the investor pays the government no less than AED 250,000 (two hundred and fifty thousand) annually. Additionally, you must:
4. own the invested capital completely; it must not be a loan and
5. provide proof of medical insurance for himself and his family (if any).

Real estate investors

If you own a property or a group of properties, you may be granted a Golden visa for a period of 5 years, renewable on the same conditions and without a sponsor subject to the:

1. provision of a letter from the land department of the respective emirate stating that he owns one or more properties whose value is not less than 2 million dirhams
2. purchase of a property with a loan from specific local banks approved by the competent local entity.

Entrepreneurs

If you are an entrepreneur, you may get a Golden visa for a period of 5 years, if you own an economic project of a technical or future nature based on risk & innovation. In addition, you must have an approval letter from each of the following:

1. an auditor in the UAE stating that the project value is not less than 500,000 dirhams
2. the authorities in the emirate stating that the project is of a technical or future nature
3. an accredited business incubator in the UAE to establish the proposed activity in the country.

Outstanding specialised talents

Outstanding specialised talents include:

• doctors
• scientists
• creative people of culture and art
• inventors
• executives
• specialists in scientific fields
• athletes
• doctoral degree holders and
• specialists in the fields of engineering and science.

Subjects relating to engineering and science include:

• epidemiology and viruses
• artificial intelligence
• big data
• computer engineering
• electronic engineering
• software engineering
• electrical engineering
• genetics and biotechnology engineering.

If you have an outstanding specialised talent, you may get a Golden visa for 10 years after meeting the requirements mentioned below for each category:

Doctors and scientists

• an approval Letter from Ministry of Health and Prevention in the UAE to practice the profession of medicine (for doctors)
• a letter of recommendation from Emirates Council of Scientists or a letter from Secretariat of the Mohammed bin Rashid Medal for Scientific Excellence stating that the applicant has been awarded the Medal of Scientific Excellence (for scientists).

Inventors

• a recommendation letter from Ministry of Economy stating that your patent has an added value to the country’s economy

Creative people in the fields of culture and art

• an approval letter from the department of culture and arts in the respective emirate.

Executive Directors

• a copy of a university degree accredited by Ministry of Education with educational attainment not less than a bachelor’s degree
• a letter of experience of no less than 5 years holding the same position
• a salary certificate with a salary of AED 50,000 at least
• a valid work contract. 

Athletes

• a recommendation letter from General Sports Authority or one of the sports councils

Specialists in engineering and science

• a copy of a Bachelor’s or a Master’s degree certified by Ministry of Education and a work contract.

Outstanding Students

High school students

If you are a high school student and a national-level topper, (with a minimum grade of 95 per cent in public or private secondary school) you may be granted a Golden visa for 5 years without a sponsor, subject to submission of a recommendation letter from Ministry of Education (Emirates Schools Establishment).Duration of the Golden visa for students is 5 years and may be extended if he/she is enrolled in one of the majors/colleges in the country that requires a study period of more than five years.

University students

If you are an outstanding university student, you may be granted a Golden visa for a period of 10 years without a sponsor, provided that:

• the university must be rated either A or B class by Ministry of Education
• a recommendation letter from the university or an accredited graduation certificate or an accredited academic record stating that the student’s cumulative GPA is not less than 3.5 for A class universities and 3.8 for B class universities is submitted.

it has not been more than 2 years since you graduated.

Outstanding students of foreign universities may be granted a Golden visa for a period of 10 years without a sponsor, provided that:

1. The university is rated among the best 100 universities global according to the rating system recognized by Ministry of Education
2. The student’s cumulative GPA is not less than 3.5
3. It has not been more than 2 years since you graduated
4. Graduation certificate is accredited by the Ministry of Education

Pioneers of humanitarian work

If you are a pioneer of humanitarian work, you may get a Golden visa for 10 years. You must be one amongst the following categories to qualify as a pioneer of humanitarian work:

1. members and outstanding employees who have worked for international and regional organisations for a minimum of five years
2. members and outstanding employees who have worked for civil associations and institutions of public interest for a minimum of five years
3. individuals who have received an appreciation award from a local, regional or international organisation that focuses on humanitarian work
4. funders of humanitarian work provided that the value of the support does not fall below two million UAE dirhams or its equivalent.

Frontline heroes

Frontline heroes who displayed extraordinary effort in crises, such as the COVID-19 pandemic also may get the Golden visa with a recommendation from a competent authority. Frontline heroes include nurses, medical assistants, lab technicians, pharmacologists and other cadres approved by the Frontline Heroes Office.