How To Get Golden Visa In UAE Quora
Over the years, Dubai has become a country where Golden Visa is a must. From the people who want to provide for their family and for those who want to enjoy a different kind of lifestyle in UAE. So, if you are looking forward to invest in a property in Dubai, then it is important that you answer this question as “How To get Golden Visa In UAE Quora”.
Would you like to live , study or work in UAE? If yes, you should apply for golden visa. You do this by investing in a real estate property over 1 million AED.
Launched in 2014, the U.A.E. Golden Visa, also known as the Emirates Visa, is an investment visa that enables non-U.A.E. investors to live in, work, study and travel in the U.A.E.. In 2017, over 2,300 foreign investors purchased an Emirates Visa with a total of AED14.3 billion invested into the country’s economy from 17 nationalities with India leading in investment volume at AED1 billion.
How To Get Golden Visa In UAE Quora
There are lots of people out there that want to obtain a residency in Europe, even though it’s notoriously difficult. But it is possible. And there are a number of different residence-by-investment programs currently available. In this article we look at one such offering from the United Arab Emirates (UAE).
The point of this is that people don’t need to know what you do and can get motivated by a personal story about how you got where you are now. The second point is that the same paragraph is used for everyone.
What Is Golden Visa For UAE
The United Arab Emirates has been known to introduce investor-friendly policies from time to time. The visionary leadership of the regime knows the value of talent and expertise. And they promote the arrival of well-qualified expatriates to the country. The UAE golden visa program is one such initiative to retain experienced brains and proficient professionals in the country.
What is the UAE Golden Visa Program?
The Golden Visa System introduced in 2019 offers long-term residency of 5 and 10 years for expats from certain professions and fields, their spouse, children, and up to three executives. The qualifications for the individuals should be from UAE accredited universities. A grading of 3.8 GPA and above is mandatory for applying for a visa under this program.
Professionals including doctors, researchers, medical experts, Ph.D. holders, entrepreneurs, talented persons, and investors can make use of this program. It is estimated that about 450 expatriates have received visas under the Golden Visa system since it was initially announced by Sheikh Mohammed bin Rashid, the ruler of Dubai.
How To Get Golden Visa Of UAE
Who can Apply for a Golden Visa in the UAE?
The authority has stipulated five categories for a golden visa. The expats belonging to this category can apply for the visa. Given that they meet the eligibility criteria laid down by the government. Accordingly, investors, Chief Executives of renowned entities, entrepreneurs, students with excellent grades, and scientists/ researchers can opt for the Dubai Golden Visa.
Eligibility Criteria for 10-year Golden Visa in UAE
The 10-year long golden visa program is limited to a couple of categories only. The individuals falling in this category can go for the visa if they fulfill the eligibility requirements.
Investors
Investors, depositing money through different methods can apply. It could be:
- A public investment of AED 10 million or more
- Company formation with a capital of AED 10 million or above
- Investment of 10 million in a fund in the country
- Whether he or she is a partner of an existing company with AED 10 million or more as investment
- In case the total investment adding all the above segments is AED 10 million or more, then also the ex-pat is eligible. However, the investment in business verticals excluding real estate should not be less than 60 percent of the total investment.
You will find that AED 10 million is the benchmark for obtaining a golden visa in UAE as an investor.
The investor will not be allowed to withdraw the money for three years and the money should be of the individual and not on loan. In addition, there would be financial insolvency up to AED 10 million.
Talented Expatriates
Those individuals with knowledge and experience can also seek Dubai visas under the Golden Visa system. The researchers, doctors, scientists, creative talents, and famed personalities from the cultural world can gain a long-term visa for 10-years. The facility is extended to their spouse and kids as well.
The conditions they must meet to obtain a Dubai golden visa include:
- They should have a valid contract with eminent firms or entities in the country
- Talents from the area of art and culture must have been recognized by the Ministry of Culture and Youth
- Scientists should have accreditation from the Emirates Scientists’ Council or winners of prestigious Mohammad bin Rashid Medal
- Those with the tag investors should have approved patents in their name. The patent approval is issued by the Ministry of Economy
- Executives applying for the UAE Golden Visa should helm a multinational company or a renowned organization. Alternatively, they could be holding excellent academic achievements and positions earned through that
- Scientists should have well-documented research papers, Ph.D. from a top, famed, university, or Ph.D. and professional experience not less than 10 years
- Doctors should be experts, specialists, in their field with adequate experience.
- Engineers with proven skill and experience in computers, electronics, and other technical fields including electrical, Artificial Intelligence and Big Data can also apply.
How Can I Get Golden Visa In UAE
Eligibility Criteria for 5-year Long Golden Visa
Investors, entrepreneurs, and meritorious students can apply for a 5-year UAE Golden Visa. They must have the stipulated qualifications to get the visa issued.
Investors
Investors can apply for 5-year residency visa if they have:
- Investment of AED 5 million or more
- Investments should not be on loan
- Investments should not be withdrawn before 03 years
Entrepreneurs
Entrepreneurs must:
- Have a company or project with a capital of AED 5 million or above
- Have obtained approval to commence a project with AED 5 million or more
The entrepreneur, who meets the above criteria, can apply under the 5 year UAE Golden Visa program. S/he can gain six months of multi-entry visas and visas for spouses, children, and three executives in the company.
Students
The government has extended the facility to the students with an excellent academic or extracurricular record and his or her parents. The inclusion of meritorious students helps the country to reduce brain drain and maintain a progressive track.
- Students with a minimum score of 95% in secondary can apply for 5-year long residency status
- The students from college/ university, with a distinctive GPA of 3.75 or above in graduation can also apply
Golden Visa for Coders
Under the initiative of HH Sheikh Mohammed bin Rashid, the Vice President and Prime Minister of UAE and the ruler of Dubai, a new criterion has been introduced in the Golden Visa program. This program is intended for computer programmers and coders with exemplary excellence in Artificial Intelligence and digital technologies.
Both residents and non-residents with specialized computer programming knowledge, helming established entities and start-ups can apply for 10-year long residence status with this new program. The emirates aim to attract 100,000 efficient coders with this new policy and expect the setting up of 1,000 credible and major digital companies in the country five years down the lane. It is considered a brilliant move to vitalize UAE’s digital sphere and fortify digital space in the country to compete with the rapidly progressing global digital innovations.
Benefits of a UAE Golden Visa
Golden visa has been helpful for personalities from different sectors to get residency for a long period of 5 and 10 years. The benefits are:
- Expats can live and work in UAE without the need of a local Emirati sponsor
- The expatriates with the Golden Visa can own 100% of shares in the entity
- Automatic visa renewal after the specified visa period
- Brilliant students can continue the education and explore the advanced career options in the country
How To Apply For Dubai Golden Visa
REASONS FOR INTRODUCING THE UAE GOLDEN VISA
The reason for introducing the golden visa was to project the UAE as a destination for business investment and encourage business development in the region. The visa was introduced to recognize residents who have been here for the long-term and their contribution to their country’s development.
The golden visa is a means to recognize their contribution and to thank them with a log-term visa that is valid for ten years and can be renewed.
WHO CAN APPLY FOR THE GOLDEN CARD?
Five categories of non-residents can apply for the golden card, these include entrepreneurs, chief executives, investors, meritorious students and scientists.
REQUIREMENTS FOR FOREIGN INVESTORS
They must fulfil at least one of the following conditions:
- Must make a deposit of up to 10 million dirhams in an investment fund in the UAE.
- Must be an owner of a company with 10 million dirhams as capital investment or must be a partner in a company with a share of up to 10 million dirhams.
Apart from this, the following conditions must be fulfilled:
- Investment funds should be fully owned rather than be funded through a loan and adequate proof must be given
- The applicant must have held the investment for at least three years
- The applicant must have an insurance document for themselves and their family members
REQUIREMENTS FOR ENTREPRENEURS:
- Applicants must be owners of a project that has a value of 500,000 dirhams or above in a field certified in the UAE
- Applicant must be approved as a certified business incubator and a founder of the project
- Applicant must have health insurance coverage for himself and his family members
ELIGIBILITY CONDITIONS FOR SPECIALISTS
- Applicant can be a professor from any one of the top 500 international universities that is approved by the ministry of education
- Applicant with an award or certificate of appreciation for his area of specialization can also apply
- Scientists who have made major contributions to an area of study
- Ds. with 20 years of practical experience in their field of expertise
- Applicants who are specialists in fields significant to the UAE
ELIGIBILITY CONDITIONS FOR CHIEF EXECUTIVES:
- Must have a bachelor’s degree or its equivalent
- Must have experience of five years and above
- Must be earning a salary of 30,000 dirhams or more in the UAE and have a valid job contract
- Must be covered by health insurance which includes family members
ELIGIBILITY CRITERIA FOR OTHERS
As for the criteria for inventors, they must have a patent that should be of value to UAE’s economy and should have the approval of the patent from the ministry of economy.
Apart from this, the program includes art and culture specialists who must be approved by the Ministry of Culture and Knowledge Development in the UAE.
What Is The Cost Of UAE Golden Visa
For applicants currently in the UAE, the Golden Visa will cost between AED 2,800 and AED 3,800.
For applicants outside of the UAE, the Golden Visa will cost between AED 3,800 and AED 4,800.
Cost will depend on visa category and type of service.
