Everything You Need to know About UAE Golden Visa in 2024

It is known to all how sophisticated and beautiful the Emirates is. With tons of beautiful places to visit, the nation is a heartthrob for travellers worldwide. Every year, so many people visit the country to unravel the beauty of its beaches and whatnot. Progressing tremendously in the field of tourism, the Emirates has also progressed hugely in providing opportunities for both foreigners as well as natives. To make the economy even stronger, the government announced the new UAE golden visa that would allow the delegates to stay in the country for 10 years if they meet the requirements.

Read this article till the end to know about the new addition to the UAE work visa. 

What is the UAE Golden Visa?

 The UAE golden visa offers residency in the country for a period of 5 or 10 years as opposed to the 2 years work visa. This is a plan to obtain a long-term business settlement in the country for the people and their dependents too. The dependents can be your mother or father based on the specified conditions by the federal authority.

The new golden visa has three categories namely, for investors, entrepreneurs, and special talents by the council of ministers.

Who Can Apply For It?

Professionals with experience in entrepreneurship or business activities from around the world can apply for it by filling out the UAE visa application form. An eligible entrepreneur can be defined as a person who has set up a business of their own in some other country and wishes to expand that to the Emirates. To obtain this, you must follow these:

•         Be able to express your experiences as an entrepreneur.
•         You have been a major shareholder in a startup or even a member of its senior leadership.
•         You are willing to relocate to the country and establish a business there.
•         You have a business plan or idea that you are willing to bring to life in the UAE.

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10-YEAR VISA ELIGIBILITY

People belonging to the following categories can apply for a 10-year residence Golden visa in the country:

1. INVESTOR IN THE PUBLISHED INVESTMENTS.

The investment should be at least AED 10 million. This can take many forms:

• Deposit of at least AED 10 million as an investment inside the country.
• To establish a company in the country with a capital that should not be less than AED 10 million.
• To be a partner in an existing company or a new one that should have a share value of not less than AED 10 million.
• To have a total investment of at least AED 10 million in all the areas that have been mentioned.

Conditions:

It will be granted with the UAE 10-year visa cost only under these conditions:

• The amount that is to be invested should not be loaned.
• The investment is needed to be retained for at least three years.
• There should also be a financial solvency of at least AED 10 million.

The 10-year UAE golden visa can also be extended to include an extra business partner. However, this would be accepted only under the condition that they also contribute AED 10 million.

It can include spouses and children and one executive director and one advisor.

Investors from foreign nations can also apply for multiple entry permits for a period of six months.

It is evident that to obtain this, you need to meet various UAE residence visa requirements.

2. PERSONS WITH SPECIALIZED TALENTS

This category includes special talents in the field of knowledge and science such as doctors, scientists, specialists, creative individuals in the field of art, and investors. The advantage also applies to the applicant’s spouse and children. The categories are also requested to obtain a valid employment contract in the specialized category in UAE.

Conditions:

The UAE visa will be granted on the following conditions:

1. The scientists must be accredited by the emirates scientists council. Or they should hold the Mohammed Bin Rashid Medal for scientific excellence.

2. The creative people in the field of art and culture must be accredited by the ministry of culture and knowledge development.

3. The investors should obtain a patent value which should add to the economy of the country. The patent must be approved by the ministry of economy.

4. The executives should be the owners of a leading and internationally recognized company or should hold high academic achievement regarding the same.

5. The specialists and doctors have to meet these criteria.

•         A degree of Ph.D. from any of the top 500 universities in the world.
•         Certificates or awards of excellence in the area of expertise.
•         Any contribution to some major scientific research in the field.
•         Any published books or articles in the respective fields of work.
•         A membership in an organization that is related to the field.
•         A 10-year professional experience in the field along with a Ph.D. degree.

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5-YEAR VISA UAE REQUIREMENTS

The following people are entitled to a five-year golden visa in the country:

1. Investors in a Property

• The investor has to invest in a property in the country that is worth AED 5 million.
• The amount invested must not be loaned.
• The property has to be retained for a period of three years.

2. Entrepreneurs

This includes the people who have an existing project worth AED 500000, or also those who have the approval to accredit a business incubator situated in the country.

3. Outstanding Students

• The outstanding students who have a minimum grade of 95 percent in public or private secondary schools.
• University students who have a distinction or a GPA of at least 3.75 for graduation.

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How to Apply?

The FAIC (Federal Authority of Identification and Citizenship) has launched an electronic platform where you can fill out the UAE visa application online for business visas, which is a part of the golden visa.

• The applicants can start by applying for nomination. Your application will be reviewed by a professional within 30 days after you have successfully submitted it. You will be notified of the result over an email.
• You have to then upload the documents that are needed for the residency visas.
• After successful verification by the FAIC, you will receive the UAE golden visa. And this way you can easily go for emirates online visa booking. 

You have to follow the general UAE residence visa rules and regulations, and meet the criteria, and you would be the lucky one to expand your boundaries with this amazing opportunity of the UAE golden visa.

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