Get UAE Golden Visa by Investment in UAE
The United Arab Emirates has always been welcoming to immigrants and new talents. It often advertises new opportunities for highly skilled employees and talented individuals. And therefore, as a part of this scheme, it has implemented a new immigration opportunity for foreigners by allowing them residency for five to ten years in the UAE.
Implemented in the year 2019, by Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, The UAE golden visa for investors offers exclusive benefits to the applicants while residing, working, as well as studying in the UAE. Other than investors, the applicants’ list may include entrepreneurs, professors, talented students and graduates, scientists, etc. Nevertheless, these eligible candidates have to meet certain requirements in their field of work to apply for this visa.
Moreover, the government also introduced new conditions for getting a golden visa in the UAE by investment, but with a reduced investment. The new reform thus included opportunity to buy off-plan properties, take loans and also freedom to stay in other countries irrespective of the duration.
The main motive to behind this grand scheme was to attract as well as retain ‘talented people and great minds’ in the country. Hence, this article will share all the necessary information regarding the long-term UAE golden visa for investors, the eligibility criteria, its requirements and conditions, and other requisite details.
Qualification for UAE golden visa for investors
There are basically two types of long-term UAE golden visa for investors, which possess their own requirements and eligibility criteria. For instance,
10-year long-term UAE golden visa for investors
Individuals who fall under one of the following categories can apply for a 10-year residency visa: –
- Invest an amount of no less than AED 10 million in the public sector
- An individual with specialized talent, either from a medical field (such as a doctor, scientist, inventor, specialist) or from the art & culture field
- Engineers in computer programming, electronics, electrical, and biotechnology
5-year long-term UAE golden visa for investors
An investor is eligible for a 5-year long-term UAE golden visa for investors if he fulfills one of the following conditions: –
- Investing an amount of no less than AED 5 million in a property in the UAE
- Partner with an existing project with a minimum capital of AED 500,000
- A brilliant student with a minimum score of 95% in a public or private secondary school
- A graduate with a GPA of at least 3.75 in a university in or outside the country
Requirements for long-term investor visa Dubai
While applying for a long-term investor visa Dubai, you must submit a few supporting documents to authenticate your application.
If you want to apply for an entry permit in the UAE, you must provide the following documents –
- A valid copy of your passport
- Passport-sized photographs
- Six-month bank statement
- A copy of the trade license of any existing company
- Partnership contract, if applicable
- The ID of partners, if any
- Memorandum of Association
- Proof of approval by the relevant UAE authority, in case of specialized talents
- Proof of patent
On the other hand, if you are already in UAE and want to apply for a long-term residence visa, then you need to present the following documents to the authorities –
- Entry permit
- Medical test certificate
- Passport copy
- Passport-sized photo
- Establishment card
- Documents relevant to the purpose of travel
This is just a list of basic documents. Nonetheless, the requirement may differ depending upon the situation or purpose you are applying for. Moreover, since the visa is more of a sensitive nature, you might need some external approvals from an authorized legal entity to proceed with the visa processing.
Benefits of UAE golden visa for investors
UAE is one of the wealthiest and most developed countries worldwide. It creates a safe haven for the investors as well as their families moving to the UAE. So, by obtaining a UAE golden visa, an investor gets to enjoy many benefits, such as –
- A self-sponsored long-term resident visa
- Renewable after 5 or 10 years
- No need for UAE national sponsors or employers
- Free to stay outside the UAE for over 6 months without getting the UAE Golden residence visa canceled
- Freedom to work, study and live in the UAE
- Full ownership of the UAE business
- Permits to sponsor family members such as spouses, kids, etc. and domestic helpers
- Sponsor kids with no age limits
- Entitled to discounts and offers on certain products and services. For example, cars, property, healthcare, insurance, banking, hospitality, dining, spa treatments, gyms, etc.
- Exempted from taxation
- Access to open accounts in the UAE banks in any foreign currency
- Ability to apply for a driver’s license without having to take any lessons
- Can seek admissions for children in schools and universities in the UAE
- An opportunity to acquire UAE citizenship
- Liberty to visit many countries that too visa-free
- Exemption from taxes, such as income, capital gains, inheritance, gifts and properties
How to apply for an investor visa Dubai, UAE?
Applying for a 10-year residency visa includes an investment of AED 10 million in the public sector. However, while making an investment you must meet any of the below criteria:
- Invest in an investment fund
- Establish a company in the UAE with a minimum capital of AED 10 million
- Partner with an existing company, holding shares worth AED 10 million or more.
- In addition, while investing the money, make sure –
- The money is not mortgaged from any individual or institution
- You retain the investment for at least three years
Similarly, for a 5-year residency visa, you need to invest in a property that has a gross value of at least AED 5 million. Also, make sure that your investment is not via loan or credit and that you retain the investment for at least three years.
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Eligibility criteria for UAE long-term residence visa
People with specialized talent such as doctors, specialists, scientists, etc. are eligible to apply for a 10-year long-term residence visa in UAE. However, they are subject to the following conditions:
Scientists –
- Must be officially recognized by the Emirates Scientists Council.
- Possess a Mohammed Bin Rashid Medal for Scientific Excellence
Artists –
- Officially recognized by the Ministry of Culture and Knowledge Development
Inventors –
- Hold a patent of value, credited by the Ministry of Economy
Doctors/Specialists –
- A Ph.D. degree from one of the top 500 universities in the world
- 10-year professional experience in the respective field, along with the Ph.D. degree
- A certificate of appreciation or recognition in the field of interest
- Member of any organization related to the field
- Have any articles or scientific books published in a renowned publication
- Expert in a field that’s of priority to the UAE
Executives –
- The official head of a top internationally recognized company
Other talents –
- Have scientific research published in a world-class journal
- Hold a patent
Steps to apply for a Golden Visa for Investors in UAE
- Visit the Dubai General Directorate of Residency and Foreigners Affairs (GDRFA) or the Federal Authority for Identity and Citizenship (ICA), either online or in-office
- Choose the required service
- Provide the requested documents
- Pay the fee for the application
- Submit the request application
The documentation and fee might vary accordingly, depending on the type of long-term residency visa you are applying for.
Wrap up
One can start with their Golden Visa application process soon as they are in the UAE. if not, then they have to apply for a UAE entry permit first. Though doable, it is highly recommended to use the assistance of a professional who can guide you throughout the visa application process as well as take charge of its requirements.
Shuraa Business Setup provides you with unbiased immigration advice and services. Additionally, we help you to select the best overseas option for yourself, as per your educational background, qualifications, requirements, and other preferences. Further, we will analyze the situation, calculate the cost and help you find a solution based on your goals.
So, book a session with us at www.shuraa.com or via email at info@shuraa.com. You can also connect with us over a call at +971 44081900 or WhatsApp at +971 507775554.
