Dubai is a prominent business hub where numerous professionals wish to live and work or set up new businesses. But, to legally stay in the UAE for a long period, it is necessary to get a Dubai Golden Visa.
However, it is essential to learn everything about this particular type of residence visa available across the UAE. For instance, you need to know about the application process and every detail pertaining to it in order to complete the process.
What is the Dubai a Golden Visa?
The Golden Visa for Dubai system enables foreign nationals to live, work, conduct business, and study in Dubai or anywhere in the UAE without the requirement of a national sponsor. Furthermore, foreign business owners and investors are also authorized full ownership of their business within the UAE.
In the UAE, this visa was implemented to successfully draw in highly skilled professionals, workers, and talents. In this way, it is possible to stimulate the investment environment as well as foster business development and success.
Who can apply for a Golden Visa in Dubai and the UAE
The eligibility standards for the Golden Visa differ from person to person, depending on their classification. To complete the application process, it is essential to meet the requirements depending on your chosen category.
In the UAE, you will be able to find Golden Visas for entrepreneurs, investors, professionals, scientists, and several others;
- Investors: Dubai Golden Visa Requirements for investors; the investor should have at least AED 10 million worth of public investment in an investment fund or equivalent in a company. Additionally, at least 60 percent of the total investment must not be in the form of real estate. The invested amount must not be loaned, and the investor must be able to retain the investment for at least three years. You can extend your 10-year-long visa to include business partners, given each partner contributes AED 10 million. The long-term residence visa can also include the holder’s family member, one executive director, and one advisor. Senior employees such as executive directors can also apply for a Golden Visa without a sponsor.
- Doctors: The UAE will give doctors, the first line of defense, a long-term residency in honor of their efforts and sacrifices. All doctors authorized by the UAE health regulatory bodies can apply for the Golden Visa. Doctors and specialists must meet at least two conditions in their respective fields of work;
(1) A Ph.D. degree from one of the top 500 universities globally.
(2) A 10-year professional experience in the applicant’s field.
(3) An award of appreciation in the field of the applicant’s work.
(4) Contribution to crucial scientific research.
(5) Published articles or scientific books in prominent publications.
(6) Membership in an organization related to the field and specialization in primacy areas to the UAE. There are seven centers established that are affiliated with the Federal Authority for Identity and Citizenship across the UAE for doctors who wish to apply for visas in person.
- Coders: Coders of all nationalities, whether they’re UAE residents or not, can apply for the UAE Golden Visa through the Office of Artificial Intelligence in the UAE Government or the Federal Authority for Identity and Citizenship. Application eligibility extends to determined experts and talents who prevailed in various coding areas. Those who work for pioneering global technological firms. And Graduates of software and hardware engineering, information technology, computer sciences artificial intelligence, data science, and electrical engineering
- Professionals: This category has seen a substantial expansion to excite highly skilled workers with educational qualifications and professional experience in numerous fields, including information and technology, business and administration, education, law, culture, and the social sciences. In accordance with the Ministry of Human Resources and Emiratisation’s categorization, the applicants must have a credible UAE employment contract and be in the first or second occupational level. Additionally, you require a bachelor’s degree or equivalent as a minimum educational level, and the monthly income should be at least AED 30,000.
- Scientist: UAE will grant the Golden Visa to all the scientists and researchers with outstanding competency, achievements, and importance in their field based on the Emirates Scientists Council recommendations. You must have a Ph.D. or master’s degree in engineering, technology, life sciences, and natural sciences from the best universities in the world. You must also have considerable research achievement.
- Entrepreneurs: The entrepreneur must own or be a partner in a startup registered in the country in the category of SMEs and generate annual revenues of at least AED 1 million. Additionally, if an entrepreneur is a founder of a previous entrepreneurial project sold with a total value of at least AED 7 million, they will be entitled to Golden Residence. Entrepreneurs are allowed a multi-entry visa for six months and renewable for extra six months.
- Extraordinary students: High school and university students that rank top in the country and university students, from distinct universities, with a GPA of at least 3.75 are eligible to apply for this Visa. A long-term visa also extends to the family of the outstanding student(s).
- Humanitarian pioneers: The following individuals who are considered humanitarian pioneers can get a Golden Visa in the UAE:
(1) Distinguished members of associations related to public advantage.
(2) Exceptional members of international and regional organizations.
(3) Individuals who have earned recognition awards in humanitarian fields.
(4) And distinguished volunteers and sponsors of humanitarian efforts.
- Frontline heroes: Finally, the frontline workers who have made great efforts in disasters are also eligible for this type of visa. For example, in crises like the COVID-19 pandemic, outstanding frontline workers who gave their services can get this visa.
Now that you know about the eligibility criteria, the next step is how to get a Golden Visa in the UAE and its benefits.
The benefits you can get by having a Golden Visa in Dubai
With this type of visa, golden residents are qualified for a number of benefits and bonuses that aren’t presently available to holders of the standard UAE residency visa. Outlined below are some of the benefits of holding a UAE golden visa.
- Extended residency rights: Those who have been granted one can avail of residency for themselves and their dependents for up to ten years, while the standard residency visa requires renewal every two to three years.
- Self-sponsored work, stay, or studying: UAE golden visa holders can stay living, working, and studying in the country for the entirety of their visa, with or without gaining local employment. The holder can independently, or for another company without the need for individual sponsorship.
- Ability to sponsor dependents and endless domestic helpers: The UAE golden visa permits the individual holder to sponsor their family members, including spouse and children, irrespective of dependents’ age. Should the primary holder of the UAE golden visa pass away during the term of the ten-year visa, their family members are permitted to remain on said UAE golden visa residency until the period of the natural conclusion of the visa. Holders of this visa type can also employ and support an unlimited number of domestic helpers.
- Extended time outside the UAE: It’s possible for UAE golden visa holders to spend extended periods of time outside the UAE without affecting the validity of the visa.
- Exclusive health-care packages: It was announced that UAE golden visa holders would be qualified for special health care and health insurance packages.
- Dubai Police Esaad privilege card: In a statement made in late July, it was announced that UAE golden visa holders would now be eligible to receive the Esaad privilege card issued by the Dubai Police. The Esaad Card offer holders discounts in shops, education, health, housing, restaurants, theme parks, hotels, and more.
How to Apply for the Dubai Golden Visa
Enthusiastic individuals, who would like to apply for the Golden Visa, may do so through the website of the Federal Authority for Identity and Citizenship, ICA (the eChannel for residency and citizenship), or the General Directorate of Residency and Foreigners Affairs (GDRFA) which works under the ministry. While ICA offers only online channels, GDRFA offers both online and offline channels.
The process is quite simple with candidates required to submit the essential documents and be willing to relocate to the UAE in accordance with their business venture, and in case you desire to make queries regarding UAE visas, contacting the Federal Authority for Identity, Citizenship, Customs and Port Security is advisable. Alternatively, you can get in touch with a specialized agency, e.g, Damalion, to learn more about the application process.
The UAE Golden Visa requirements
To get this visa, you must meet certain requirements when completing your visa application process. One of the main requirements is having investments of at least AED 2 million in the UAE. Applicants can have their investments in various forms according to the UAE laws and regulations.
For instance, they can have investment funds accredited in the UAE or a commercial license of an investor. In case you have a license, the MOA of the legal entity will mention the paid-up capital of the company. Likewise, keep in mind that this capital shall not be less than AED 2 million. And, besides the visa and Emirates ID, other documents will also be required depending on the selected visa category.
Now that you have all the necessary information you need to make an informed decision, If you are ready to apply for a Golden Visa in the UAE, let’s go ahead together and contact your Damalion expert now.
