- What is a Golden Visa?
The golden visas were implemented by the government in 2019. They are aimed at attracting and retaining talent into the UAE and have been focused on specific target sectors. There are two types of Golden Visa – one that has a validity for 5 years and another for 10 years
- Who is eligible to get the Golden Visa?
There are different requirements for the 10 year golden visa and the 5 year golden visa.
For the ten year visa there are two key areas of focus:
- Investors in public investments of a minimum of AED 10m. The investment can be a deposit in an investment fund in the country, having a company with share capital of at least 10m, partnering with a company with share value of 10m or having a combination of all of these (not including real estate).
- Persons with specialize talents. This is aimed at bringing intellectual talent into the UAE. This includes specialised talents and researchers in the fields of science and knowledge such as doctors, specialists, scientists, inventors, as well as creative individuals in the field of culture and art. All categories are required to have a valid employment contract in a specialised field of a priority in the UAE. The prerequisites for this visa are:
- Scientists must be accredited by the Emirates Scientists council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence.
- Creative individuals in culture and art must be accredited by the Ministry of Culture
- Inventors must obtain a patent of value, which adds to the UAE’s economy. Patents must be approved by the Ministry of Economy
- Exceptional talents must be documented by patents or a scientific research published in a world-class journal.
- Executives must be owners of a leading and internationally recognized company or holders of a high academic achievement and position.
- Doctors and specialists must meet at least two of the following conditions:
- a Ph. D. degree from one of the top 500 universities in the world (refer to ICA for information)
- an award or certificates of appreciation in the field of the applicant’s work
- contribution to a major scientific research in the respective field of work
- published articles or scientific books in distinguished publications in the respective field of work
- membership in an organisation related to the field
- a Ph. D. degree, in addition to 10-year professional experience in his field
- specialisation in areas of priority to the UAE.
For the 5 year visa the three areas of focus are:
- Investors in a property in the UAE
Granting a visa is subject to the following conditions:
- The investor must invest in a property of a gross value of not less than AED 5 million.
- The amount invested in real estate must not be on loan basis.
- The property must be retained for at least three years.
This category includes those having an existing project with a minimum capital of AED 500,000, or those who have the approval of an accredited business incubator in the country.
3. Outstanding Students
- outstanding students with a minimum grade of 95 per cent in public and private secondary schools
- university students within and outside the country having a distinction GPA of at least 3.75 upon graduation.
- What benefits can you get from the Golden Visa?
The Golden visa’s allow the holder to stay in the UAE for a prolonged period of time and renew their visa every 5 or 10 years as opposed to every 3 years
- Is the Golden Visa applicable for entrepreneurs?
Yes, both the 10 year Visa and the 5 year visa are aimed at attracting business talent and entrepreneurs. For the five year visa the entrepreneur is allowed a multi entry visa for six months in order to come and launch their business
- Can you add your family to the Golden Visa?
Yes – Golden Visa’s extend to both the Spouse and the Children allowing the holders to truly build a long-term life in the UAE