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UAE: Advantages and Eligibility of Golden Visa

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Shabil Shukur K K

Published on December 13, 2023, 08:54:01

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nbsp UAE Golden Visa longterm residence visa granted foreign investors

 

 

A UAE Golden Visa is a long-term residence visa granted to foreign investors, entrepreneurs, scientists, qualified professionals, and exceptional talents. It offers several benefits, including living, working, and studying in the UAE without restrictions.

Advantages of Golden Visa

Some key advantages of holding a Golden Visa are:

  • A multiple-entry visa must be used within six months after the issuance of a residence permit.
  • Living in the UAE, holders of Golden Visas enjoy substantial tax benefits.
  • The validity period of 5-10 years.
  • Access to quality healthcare in the United Arab Emirates.
  • Not requiring a sponsor.
  • Visa-free travel to 15 countries and the right to work and study in the UAE
  • Sponsoring children and parents regardless of their age.
  • Sponsoring any number of domestic workers like cleaners, drivers, and nannies.
  • The United Arab Emirates golden visa holders receive an Esaad privilege card, which provides significant discounts in the UAE and 92 other countries
  • Additional preferences for Dubai and Abu Dhabi residents.

Who’s Eligible for a Golden Visa?

Investors in public investments, Real estate investors, Entrepreneurs, Frontline heroes, Outstanding specialised talents, University students, Outstanding High school students, and Pioneers of humanitarian work are eligible for a golden visa.

Entrepreneurs

Entrepreneurs who own an economic project that is technical or future-oriented based on risk and innovation may be eligible for a Golden visa for five years. To qualify, they must obtain an approval letter from the following entities: an auditor in the UAE confirming that the project value is not less than 500,000 dirhams, the authorities in the emirate confirming that the project is of a technical or future nature, an accredited business incubator in the UAE to establish the proposed activity in the country.

Real Estate Investors

If you own one or more properties in the UAE whose value is not less than 2 million dirhams, you may be eligible for a Golden visa valid for five years. This visa is renewable on the same conditions and does not require a sponsor, provided you can provide a letter from the land department of the respective emirate confirming your property ownership.

Alternatively, you may also be eligible for a Golden visa if you purchase a property using a loan from specific local banks approved by the competent local entity.

Investors in Public Investments

If you choose to invest in an accredited UAE investment fund with a deposit of AED two million, you may be eligible for a Golden Visa valid for 10 years without the need for a sponsor. Alternatively, you can provide valid commercial or industrial licenses and an association memorandum stating that your capital is not less than AED two million. You must also submit a letter from the Federal Tax Authority stating that you pay the government no less than  AED 250,000 annually. It's important to note that you should own the invested capital completely, and it should not be a loan. Lastly, you need to provide proof of medical insurance for yourself and your family (if any).

Outstanding Specialised Talents

  • Doctors and scientists.
  • Inventors
  • Executive Directors
  • Athletes
  • Outstanding High school students
  • University students.
  • Pioneers of humanitarian wor
  • Frontline heroes

For more clarifications regarding the requirements,  visit The United Arab Emirates Government portal.

 

For any enquiries or information, contact ask@tlr.ae or call us on +971 52 644 3004Follow The Law Reporters on WhatsApp Channels.

 

 

 

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