UAE Golden Visa: Costs, benefits and rules
In 2019, the UAE introduced the Golden Visa, a new program for long-term residency visas. Since then, it’s enabled expats across the globe to live, work and study in the UAE for up to ten years. But while the Golden Visa makes it easier for foreigners to start and grow a business successfully, not everyone automatically qualifies for one. Applicants need to meet specific requirements and conditions to secure a Golden Visa, and not everyone will be able to apply.
In this article, we will explore everything you need to know about the UAE Golden Visa, including how it works, who qualifies and what the process is for application. We will cover the following topics:
- What a UAE Golden Visa offers
- The benefits of getting a Golden Visa in the UAE
- The price of a UAE Golden Visa
- Conditions and requirements for a 10-year UAE Golden Visa
- Conditions and requirements for a 5-year UAE Golden Visa
- Step-by-step guide to obtaining a 5-year or 10-year UAE Golden Visa
Golden Visa UAE – what is it?
The UAE Golden Visa gives foreigners the opportunity to acquire long-term residency visas in the UAE. With this visa, individuals can live, work and study in the UAE without a national sponsor and maintain 100% ownership of their business.
Golden Visas can be granted to investors, entrepreneurs, outstanding students and scientific or creative specialists. The UAE currently offers a 5-year or 10-year Golden Visa. Both visas are renewed automatically, providing that the applicant meets specific requirements and conditions.
What are the benefits of getting a Golden Visa in the UAE?
The UAE introduced the Golden Visa scheme to offer additional security for those looking to make their future in the UAE. There are numerous advantages for Golden Visa holders, including:
- Long-term residency: Golden Visa holders can live, work or study in the UAE for five or ten years.
- 100% business ownership: Golden Visa holders do not need to find a national sponsor.
- Employment: Golden Visa holders can apply for jobs with any company in the UAE.
- UAE driving licence: Golden Visa holders from one of 32 approved countries are automatically eligible for a UAE driver’s licence.
What is the price of a UAE Golden Visa?
The price of a UAE Golden Visa is AED 650 for the 5-year visa and AED 1,150 for the 10-year visa.
10-year UAE Golden Visa requirements
In order to acquire a 10-year UAE Golden Visa, applicants must meet specific criteria requirements. To apply for a Golden Visa, you must either be an investor or a person with specialised talent.
Investors must make a public investment of over AED 10 million in the form of an investment fund or a company. At least 60% of the investment must not be in the form of real estate.
Specialised talents include applicants working in the fields of science and knowledge, such as doctors, specialists, scientists and creatives.
Other conditions for a 10-year visa
There are specific conditions for investors applying for a 10-year visa. The investment must not be loaned, they must hold the investment for at least three years and there should be financial solvency of up to AED 10 million. Visas can be extended to business partners providing that each partner contributes AED 10 million. Visas can also be extended to a spouse and children.
Individuals with specialised talents need to meet specific conditions to obtain a 10-year visa, too. Specialists might include doctors, coders, artists, scientists and researchers. They must hold at least two of the following requirements in their field of work:
- PhD from one of the ICA’s top 500 universities in the world
- Relevant award or certification of appreciation
- Contribution to major scientific research
- Published articles or scientific books
- Membership to a relevant organisation
- PhD and 10 years’ relevant experience
- Specialisation in the UAE’s priority areas
5-year UAE Golden Visa requirements
In order to acquire a 5-year UAE Golden Visa, applicants must meet specific criteria requirements. To apply for a Golden Visa, you must either be an investor in property, entrepreneur or an outstanding student.
Other conditions for a 5-year visa
Investors, entrepreneurs and outstanding students must meet specific conditions for a 5-year Golden Visa, too.
For instance, investors in property must invest in a property over AED 5 million and retain the property for at least three years. Entrepreneurs must have a minimum capital of AED 500,000 or approval from accredited businesses incubated in the UAE. Outstanding students must have a minimum grade of 95% from a public or private secondary school or a distinction GPA of at least 3.75 from university.
How to get the 5-year or 10-year UAE Golden Visa: Step-by-step guide
Step 1: Apply online for a UAE Golden Visa nomination.
Step 2: Authorities take up to 30 days to review your application. You will receive an email detailing the outcome of your application.
Step 3: If your application is approved, you will need to upload the required documents to your application online.
Step 4: The Federal Authority for Identity and Citizenship will verify your application.
Step 5: Providing you meet all the requirements, the authorities will issue you with your 5-year or 10-year Golden Visa.
Frequently asked questions
How do you apply for a UAE Golden Visa for engineers?
Engineers can apply for the UAE Golden Visa under the category ‘specialised talent’. You will need to meet specific requirements, including holding a BA or MA from an accredited institution. Get in touch to find out more.
How do you apply for a UAE Golden Visa for doctors?
Doctors can apply for the UAE Golden Visa under the category ‘specialised talent’. Applicants will need to meet specific requirements, such as holding a PhD degree. Get in touch to find out more.
Can Pakistanis get a UAE golden visa?
Yes, applicants from Pakistan are eligible to apply for a UAE golden visa. Get in touch to find out more.
Why SPC Free Zone?
SPC Free Zone offers fast and easy business setup in the UAE. As one of the most centrally located and easily accessible free zones in the region, it’s the ideal ecosystem to start and grow your business successfully. Get in touch to find out more.
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