The UAE Golden Visa is a long-term residency programme designed to attract investors, skilled professionals, and talented individuals from around the world. It offers numerous advantages beyond traditional visa options, making it a highly sought-after option for expatriates looking to make the UAE their home.
UAE Golden Visa Benefits and Requirements
This comprehensive guide explores the the top 20 UAE Golden Visa benefits and also give detailed information about the Dubai Golden Visa requirements and why it might be the perfect choice for you.
Extended Residency Rights
Golden Visa holders enjoy residency for up to ten years, providing long-term stability and reducing the need for frequent renewals. This benefit is ideal for those looking to establish a permanent presence in the UAE.
Self-Sponsored Residency
Unlike standard residency visas, Dubai Golden Visa allows holders to live, work, and study in the UAE without needing a local sponsor. This flexibility enables individuals to operate independently or work for any company, both locally and internationally.
Family and Domestic Worker Sponsorship
Holders can sponsor their family members, including spouses, children, and, in some cases, parents and siblings. Additionally, there is no limit on the number of domestic helpers they can employ.
Extended Time Outside the UAE
Golden Visa holders can spend extended periods outside the UAE without jeopardizing their residency status, unlike standard visas which require renewal if the holder is absent for more than six months.
Exclusive Healthcare Packages
Special health insurance plans are available for Golden Visa holders and their dependents, offering extensive coverage with claims up to Dhs 20 million. These plans provide peace of mind regarding healthcare costs.
Dubai Police Esaad Privilege Card
The Esaad Card offers substantial discounts across various sectors, including shopping, education, and healthcare. This card enhances the living experience in Dubai by providing numerous benefits.
Tax Benefits
The UAE offers a favorable tax environment with no personal income tax and a competitive corporate tax rate of 12.5%. This makes the UAE an attractive destination for business professionals and investors.
Access to Premier Education and Healthcare
Golden Visa holders and their families benefit from access to world-class educational institutions and healthcare facilities, ensuring a high quality of life.
Multiple Entry Visa
The visa allows for multiple entries into the UAE without the need for re-application, simplifying travel and maintaining global connections.
No Employment Restrictions
Golden Visa holders are exempt from traditional employment restrictions, allowing them to change jobs or pursue multiple opportunities without affecting their visa status.
Business Investment Opportunities
The visa provides access to a range of investment opportunities and business-friendly policies, particularly beneficial for entrepreneurs and investors.
Safe and Secure Environment
The UAE is known for its high safety standards and low crime rates, offering a secure living environment for Golden Visa holders.
Access to Premier Leisure and Entertainment
Enjoy access to Dubai’s luxury shopping, dining, and cultural experiences, enhancing the overall lifestyle for residents.
Enhanced Property Ownership Rights
Golden Visa holders can buy and own real estate in the UAE with more flexibility compared to other visa types. This benefit is particularly advantageous for investors looking to purchase high-value properties or those seeking a permanent home in the UAE.
Simplified Business Setup
The Golden Visa streamlines the process of establishing a business or investing in the UAE. It allows holders to access various business incentives and support mechanisms, including reduced bureaucratic hurdles and enhanced investor protection.
Residency for Partners and Investors
In addition to immediate family members, the Golden Visa can extend to business partners and key investors in some cases. This provision helps strengthen business relationships and supports collaborative ventures.
Cultural and Community Integration
Golden Visa holders often gain access to exclusive community events and cultural activities, enhancing their integration into the UAE’s vibrant social scene and promoting a richer living experience.
Access to Business Networking Opportunities
The visa opens doors to high-profile business networking events and industry-specific forums, providing valuable opportunities for professional growth and collaboration with influential figures in various sectors.
Priority in Government Services
Golden Visa holders may receive priority in various government services, including expedited processing for permits and approvals, which can streamline interactions with official institutions and reduce waiting times.
Enhanced Mobility and Travel
In addition to the multiple entry feature, Golden Visa holders often benefit from streamlined immigration procedures at UAE airports, making travel more convenient and efficient.
What is a UAE Golden Visa?
The UAE Golden Visa is a residency permit that grants individuals the right to live, work, and study in the UAE for an extended period, ranging from five to ten years.
Unlike standard visas, which require renewal every two to three years, the Golden Visa provides long-term stability. Additionally, it allows holders to live and work without a national sponsor and offers full ownership of businesses on the UAE’s mainland.
Who Can Apply for the UAE Golden Visa?
The UAE Golden Visa programme is open to various categories of individuals. Here’s a closer look at who can apply:
Investors
Investors who purchase real estate worth at least Dhs 2 million or make significant public investments are eligible. Banks in the UAE also offer Golden Visa incentives for depositing Dhs 2 million.
Entrepreneurs
Entrepreneurs who own a start-up registered as an SME, have founded a project sold for over Dhs 7 million, or have approval from a business incubator can qualify.
Exceptional Talents
Individuals with exceptional talents in fields like art, culture, sports, and technology can apply, provided they have a recommendation from a federal or local government entity. Religious scholars can also get the long-term UAE residency.
Scientists and Researchers
Scientists with advanced degrees and significant achievements, or those holding a senior position, can apply with a recommendation from the Emirates Scientists Council.
Highly Skilled Professionals
UAE-based professionals who are eligible for the Golden Visa need to have a basic monthly salary of Dhs30,000 to apply for the long-term residency.
Outstanding Students and Graduates
High-achieving students from top universities or those with exceptional high school performance are eligible.
Humanitarian Pioneers
Individuals with significant contributions to humanitarian efforts can apply if they meet specific criteria related to their service.
Frontline Heroes
Frontline workers who have demonstrated exceptional service during crises, such as the COVID-19 pandemic, are eligible for this visa.
How to Apply for the UAE Golden Visa
To apply for a UAE Golden Visa, you need to:
- Determine Eligibility: Check if you fall into one of the eligible categories.
- Use the UAE Government Eligibility Tool: Verify your eligibility online.
- Submit an Application: Request a nomination through the UAE government’s golden services section.
UAE Golden Visa Through Bank Deposits
To qualify for a Golden Visa through bank deposits, UAE banks require a minimum investment of Dhs 2 million in deposits for at least two years. Following this investment, the banks issue a confirmation letter to support the long-term residency application.
- UAE banks offering Golden Visas in exchange for Dhs 2 million deposits include:
- Abu Dhabi Commercial Bank (ADCB)
- Ajman Bank (Wakala Deposit)
- Al Maryah Community Bank
- First Abu Dhabi Bank (FAB)
- RAKBank
Frequently Asked Questions (FAQs)
Frequently Asked Questions (FAQs)
What is a UAE Golden Visa?
The UAE Golden Visa is a long-term residency visa that allows individuals to live, work, and study in the UAE with full business ownership rights on the mainland.
How does the Golden Visa benefit family members?
Golden Visa holders can sponsor their family members, including spouses and children, allowing them to live together in the UAE.
Can Golden Visa holders travel outside the UAE?
Yes, holders can travel in and out of the UAE without losing their residency status, as long as they return at least once every six months.
How long does it take to process a Golden Visa application?
The processing time generally takes a few weeks, depending on the completeness of the application and documentation provided.
What is the difference between a 5-year and 10-year Golden Visa?
The 10-year visa typically requires a higher investment or more significant contributions compared to the 5-year visa, which is more accessible for entrepreneurs and professionals.
Can you switch from a regular visa to a Golden Visa?
Yes, individuals meeting the eligibility criteria can apply to switch from a regular residency visa to a Golden Visa.
Does holding a Golden Visa lead to UAE citizenship?
No, the Golden Visa provides long-term residency but does not directly lead to UAE citizenship. Citizenship requires additional contributions and approvals.
What are the tax benefits of holding a Golden Visa?
Golden Visa holders benefit from the UAE’s no personal income tax policy and a competitive corporate tax rate of 12.5%.
What healthcare benefits are available to Golden Visa holders?
Golden Visa holders have access to exclusive health insurance plans with high coverage limits, providing comprehensive healthcare benefits.
What is the Esaad Privilege Card?
The Esaad Privilege Card offers discounts and benefits across various sectors, including shopping, education, and healthcare, enhancing the living experience in Dubai.
Conclusion
The UAE Golden Visa is a transformative opportunity for investors, entrepreneurs, professionals, and their families, offering numerous benefits that extend beyond typical residency options. With its long-term residency, tax advantages, and access to world-class amenities, it represents a significant opportunity for those looking to establish a strong presence in the United Arab Emirates.
However for further latest updates, always check the official sources here before applying of the long-term UAE visa.
tanvir@dubainewsweek.com
