Navigating the visa landscape in the UAE provides exciting possibilities, especially with the introduction of the UAE Golden Visa. This new Visa initiative since its inception in 2019 has stood out, since it provides long-term residency options in diverse fields which range from investors, entrepreneurs, special talents, and researchers in the field of science and knowledge. The main purpose of a golden visa is to provide a stable and inviting environment for talented individuals and investors to the UAE with their hard work and eventually seek a long-term plan of attaining citizenship in the country.
However, it’s important to understand that attaining the citizenship of UAE or any country requires a lot of commitment and long-term residency. Hence Golden Visa UAE becomes the ideal first choice for professionals looking to improve their way of living and settle in a healthy and progressing environment like Dubai. The city alone boasts numerous attractions and a high-quality way of living like being home to some of the most lavish housing developments in the country like Damac Bay 2 by Cavalli. Talented individuals and investors looking to settle in the UAE, in the long run, can apply for long-term residency through a golden visa to commence their new lives.
Understanding UAE Golden Visa
It is a long-term residence permit design ranging from 5 – 10 years which has been to attract some of the best talents from all over the world by providing them with a lucrative chance to live, work, and stay in UAE with a diverse range of benefits. However, to qualify, the most basic criterion is to invest at least 2 Million AED in UAE which can be easily done by investing or purchasing a housing project like Damac Bay 2 by Cavalli in Dubai. However one of the great advantages of the UAE golden visa is that this visa is also renewable given the holder can maintain their status and assets in the country, leading them to attaining citizenship. So even though the Golden Visa UAE does not provide direct access to citizenship of the country, it certainly comes with additional benefits like subsidized education or housing benefits.
How can Investors and Special Talents apply?
Investors can apply through the following ways
- Real Estate Investors: They must own a housing property worth a minimum of 2 Million AED and a letter will be required from the land department which confirms the ownership and approval from the bank, in case of loan approval. However more importantly it is mandatory to hold on to the property for 2 more years post the visa issuance.
- Investors in public investment: They must maintain a minimum investment of 2 million AED for approved investment funds or portfolios. It has to comply with UAE regulations and a confirmation letter from accredited investment funds in the UAE is required. But more importantly, a tax contribution letter from the federal tax authorities and proof of medical insurance for the family must be required.
Special Talents can obtain a 10-year residency program in the following fields.
- Doctors: They have required an approval letter from the Ministry of Health & preventions in UAE to practice the profession of medicine.
- Scientists: Recommendation letter from Emirates Council of Scientist
- Inventors: If the applicant has certain patents through a recommendation letter from the Ministry of Economy which states that the patent provides additional value in the country’s economy.
- Executive Directors: They would require a copy of a degree from a well-known university with at least a bachelors. Valid works contract. Salary should not be less than 50,000 AED.
- Athletes: They require a recommendation letter from the sports council.
Advantages of attaining UAE Golden Visa over Ordinary Residency Visas
When it comes to the benefits and perks of the Golden Visa, it stands unparalleled by any other residency visa. It is not just a smooth and hassle-free process to obtain the golden visa in a few months, given the candidate can meet the desired criteria in their field but provides a host of other benefits as well which brings them closer to attaining citizenship, especially for investors and special talents.
- Extended Residency: Golden Visa allows holders to live, work, and study in UAE for 10 years which provides much better stability compared to the standard visas.
- Extended Travel Flexibility: One of the benefits that is not discussed often on a Golden Visa is the flexibility of living outside the UAE for more than six months without losing residency status.
- No Sponsorship Required: Applicants can obtain a golden visa without having to rely on sponsors like other residence visas. This process grants them more independence.
- Domestic Help Sponsorship: Golden Visa allows you to sponsor domestic help which allows for easy house management.
- Family Security: Sponsors can include spouses and children which lets them stay in UAE until the end of their permit duration even if the primary visa holder passes away.
- Exclusive Discounts: Golden Visa holders are liable to receive discounts and special deals on real estate purchases, health insurance, and medical treatment which enhances their lifestyle in UAE.
Conclusion
The Golden Visa program by UAE has been specifically designed to mostly bring in investors and exceptional talents to the country who can contribute towards the economic goals of the country and play a vital role in taking the healthcare, education, and other vital sectors of the country to another level with their creativity, intelligence and fresh ideas.