UAE Golden Residence Visa is one of the long-term residence programs for foreign nationals who either invest in or own projects, establish or own a company, are specialized talents and researchers, or represent outstanding students.
So, this article will explore some of the ways one can get a residence visa for Dubai via investment, employment, and talent-based options while shedding some light on some of the benefits associated with having a residence permit in the UAE.
Investment-Based Golden Residence Permit in UAE
Through the investment route, a person can attain a UAE Golden Residence Permit by making a significant financial contribution to the economy. These can done through any of the following ways:
- Real Estate Investing. Real estate investment is critical for a Golden Residence Permit in the UAE. In this regard, the investors will own property or a group of properties exclusively in the UAE, with a value of at least AED 2 million. Such investment shall be either self-paid or through local banks in the list approved by the UAE government via a loan. Therefore, the visa is usually valid for five years and can be renewable upon expiration under the same conditions.
- Public investment. Another pathway is in sizeable public investment. Candidates can apply for a UAE Golden Visa by investing AED 2 million in an approved investment fund. This route requires a residency of 10 years, renewable under the same conditions.
- Entrepreneurial Ventures. An entrepreneur may also qualify for a Golden Residence Visa if he has an economic project worth at least AED 500,000 and is recommended by an accredited business incubator in the UAE. Return entrepreneurs must present an approval letter from a certified auditor in the UAE and respective local authorities as proof of a project’s value and potential in the future.
The investment route is the most common process for getting a golden UAE residence visa.
Employment-Based Pathway to UAE Residence
The employment-based route to getting the UAE residence permit offers the Golden Visa to professionals and specialists who are highly influential in developing the UAE economy. The professionals that can file the employment-based pathway to UAE residence permit application include:
- Doctors and scientists. These professionals require an approval letter from the Ministry of Health and Prevention and the Emirates Council of Scientists.
- Executive directors. The applicant must have a university degree, at least five years of experience in a similar position, a salary certification of not less than AED 5,000,000, and a valid employment contract.
- Teachers/educators. An applicant must have a recommendation from the Ministry of Education, besides proof that one has contributed significantly to academia.
The Immigrant Invest specialists state that employment-based Golden Visas are granted for ten years and renewable upon expiry.
Special Talent and Innovation-Based Residence
The UAE recognizes the importance of attracting individuals with talent who can contribute to the country’s innovation and development in various fields. These special talents include:
- Patent applicants. They require an introductory letter from the Ministry of Economy, United Arab Emirates, confirming the economic value of such a patent.
- Artists and cultural creatives. Each applicant must get an endorsement from the relevant cultural authority in the UAE.
- Outstanding students. The ones studying in High School will have to have at least 95% marks; University students will include only those studying in highly rated universities with a GPA of 3.8 or more.
This program offers a renewable 10-year Golden Visa to talents in the fields of culture, art, science, and technology so that they can excel in an encouraging and innovative environment.
Benefits of Holding a UAE Residence Permit
A residence permit in UAE confers many advantages for its holders and their families, including the following:
- Tax advantages. The UAE has no form of personal taxation. Residents never pay any tax on their income, gains, and other financial activities.
- Improved standard of living. UAE Golden Visa holders can travel in and out of the country as needed; this will not affect or undermine their residency status. This makes it highly suitable for internationally engaged businesspeople. Moreover, the UAE enjoys extreme safety with awesome infrastructure and a high standard of living.
- Financial and business benefits. Golden Visa holders have multi-currency bank accounts, preferential interest rates on mortgage arrangements, and many other first-class financial services. They enjoy exclusive discounts and privileges in government services, healthcare, education, and retail sectors.
- Long-term residency and citizenship prospects. In the UAE, a local sponsor is not required for the principal investor, which is something very few countries allow. This also further opens up an avenue toward gaining UAE citizenship.
Through these diversified benefits, the Golden Visa provides a gateway into making the United Arab Emirates the best destination to invest in, work, innovate, and reside in an atmosphere steeped in prosperity and vibrancy.
