The United Arab Emirates (UAE) established a new long-term residency visa system in 2019, allowing foreigners to live, work, and study in the UAE without the requirement for a native sponsor and with full ownership of their firm.
The Dubai golden visa is advantageous since it permits ex-pats to stay in the UAE for up to ten years. Furthermore, its perks include, to mention a few, the opportunity to live, work, and study in the UAE without the requirement for a national sponsor, 100 percent business ownership, and multiple-entry permission to the UAE. Since its inception, nearly 44,000 Dubai residents have acquired the golden visa.
Who is qualified for the UAE Golden Visa?
The UAE government has established pre-defined criteria for qualifying for Dubai golden visa applications. For example, the following individuals are eligible for the UAE golden visa:
1. Entrepreneurs, investors, and business proprietors
2. Individuals with advanced degrees, such as Ph.D. holders, as well as people with specific abilities or researchers in fields of science and knowledge
3. Students who are showing potential in their chosen subject of study.
What exactly does the Golden Visa provide?
The Golden Visa system effectively grants long-term residency (5 to 10 years) to the following groups: investors, entrepreneurs, those with exceptional abilities such as researchers, medical experts, those in the scientific and knowledge industries, and exceptional students.
The main benefit of the visa will be security, as the UAE government has made it clear through the issuance of the Golden Visa that they are committed to providing expatriates, investors, and essentially anyone looking to make the UAE their home with an additional reason to feel secure about their future.
Who are the people who can apply?
10 Year Visa
Investors with no less than AED 10 million in public investment, either in the form of an investment fund or a firm, can apply for the 10-year visa. However, at least 60% of the total investment must not be in the form of real estate, and the money invested must not be borrowed, or in the case of assets, investors must accept full ownership.
The investor must also be able to keep the money for at least three years. This 10-year visa can be extended to include business partners if each partner invests AED 10 million. The long-term visa may also include the holder’s spouse and children, as well as one executive director and one executive assistant.
Individuals with specific talent, in addition to entrepreneurs, can apply for a visa. Doctors, researchers, scientists, investors, and artists are among them. Following accreditation by their respective departments and areas, these persons may be awarded a 10-year visa, with the visa also extending to their wives and children.
5 Year Visa
The standards for the 5-year visa are basically identical for investors, with the only distinction being that the needed investment is set at AED 5 million.
Outstanding high school and university students can apply for a 5-year resident visa in the UAE. Students from top high schools in the country (minimum grade point average of 95%) and students from select institutions with a GPA of 3.75 or above upon graduation.
In addition to the foregoing, international people seeking to establish a business in the UAE may apply for permanent residency (5 years) under the Golden Business Visa scheme.
Begin planning your Visa process with UBL right away!
Prepare your paperwork after you’ve decided to apply for a UAE golden visa. Additionally, investors with a commercial or industrial trade license must begin generating extensive company records. UBL Business setup experts can assist you with all your paperwork requirements to set up business in UAE. From business visa Dubai to residence visa Dubai. Contact us today.