The UAE is one of the most attractive countries for business development and investment. Many factors contribute to this, one of which is the Golden Visa program. The project provides unique opportunities for businessmen, investors, specialists from various fields, as well as students with outstanding academic achievements. Let’s look at the features of the program – from the history and benefits to the cost and participation.
How Golden Visa appeared
The program was first launched in 2019. Then it was part of a strategy to attract foreign investors, businessmen, talented scientists, outstanding students.
Now the golden visa is long-term and is intended for residents and foreigners who plan to invest in the economy of the Arab Emirates. With it, you can live in the country for 5-10 years, and then extend it. This is what distinguishes a visa from others, which are issued for only 1-3 years.
The holder of a golden visa can become a sponsor for his family members, as well as household staff.
Another advantage for the visa holder is the possibility of free movement in the countries of the State Council of the Persian Gulf (GCC).
Who can apply for a Golden Visa
The main categories of persons who can get a visa:
- Scientists – from doctors of sciences, holders of doctoral degrees from the popular 500 universities of the world to researchers.
- Athletes are holders of Olympic medals and other awards.
- Doctors are holders of doctoral degrees in medical and related fields, specialists who have made significant contributions to medicine.
- Inventors are holders of patents obtained through the UAE and other global patent organizations.
- Executive directors with high annual income, higher education and significant work experience in their field. This category also includes owners of successful brands.
- Specialists in engineering and science – from AI, big data, to virology, epidemiology.
- Creative specialists in the fields of culture and art who are recognized at the national and/or international level.
- Real estate investors are owners of real estate in the Emirates worth 2 million dirhams or more.
- Businessmen are owners of successful projects in the UAE worth 500 thousand dirhams, as well as project managers who have been provided with an accredited confirmation from an authorized body.
- Outstanding students with an average score of at least 95% in school subjects or at least 3.75 when obtaining a bachelor’s degree in the UAE/leading foreign universities.
- Foreign pensioners with a stable annual income of at least 20 thousand dirhams or its equivalent in other currencies. This category also includes individuals who have invested more than 1 million dirhams in the local economy. For example, you deposited funds to a local bank and provided a supporting statement.
- Investors in the public sector are holders of capital investments in the UAE (at least 10 million dirhams).
The process of obtaining a golden visa through investing in real estate
To get a visa through investment, you need:
- Receive a letter from DLD, which confirms the owner’s right to one or more properties. At the same time, the cost should be from 2 million AED and above.
- Take a loan from a local authorized bank and buy a house.
If at the time of purchase you have real estate worth 2 million dirhams and above, you can apply for a 10-year visa with the possibility of extension.
When buying on credit, you need to pay at least 2 million dirhams for the object from personal funds. You can also buy real estate under construction, provided that the construction is completed by 80%.
Documents
You will be required to:
- Passport.
- An electronic copy of the certificate of ownership (Title Deed).
- Photo.
- Current medical insurance.
Cost
If you have collected all the necessary documents, then the total cost of obtaining a visa will be about $ 5,000. This money includes the costs of Title Deed, medical examination, visa and Emirates ID fees, administrative fees and so on.
Conclusion
Golden Visa is a unique option for investors, businessmen, professionals and students who want to get long–term access to the advantages of the country. Due to the expanded sponsorship opportunities, freedom of movement, and long validity period, it is considered the most attractive and flexible type among other visas in the region.
We are well versed in the issues of the visa system of the Emirates, so we are ready to help with the registration of a Golden Visa – from submitting an application, processing documents to interacting with government agencies. Cooperation with us will help save time and effort.
Back