Golden Visa in Dubai: How to Get One

With the introduction of the Golden Visa Dubai in 2019, the UAE government took an unusual step in its immigration regulations. As glamorous as its name may sound, the privileges associated with the UAE or Dubai golden visa are intended to draw highly valuable foreigners.

Due of the attractive 10-year residency allowance for foreigners, the Dubai golden visa is popular. Additionally, its advantages include, among others, the opportunity to live, work, and study in the UAE without the need for a national sponsor, complete business ownership, and multiple entry visas.

What is Dubai’s Golden Visa?

The “Golden visa” of the UAE is a long-term resident visa that allows talented foreigners to live, work, or study there while also enjoying the benefits such as:

• An entry visa for six months with multiple entries to proceed with residence issuance

• 10-year renewable long-term residency permit

• A self-sponsored visa since an employer is not required.

• Ability to extend their stay outside the UAE beyond the typical six-month limit in order to maintain the validity of their residence visa

• Regardless of the ages of their spouse and children, sponsoring their family

• Sponsoring unlimited number of domestic workers

• Case the primary bearer of the Golden visa passes away, family members may continue in the UAE until the end of their permit period.

Who is qualified for the Golden Visa?

The UAE government has established prerequisites for Dubai Golden Visas application eligibility. For instance, the following individuals are eligible for the UAE Golden Visa:

• Investors

Real estate investors can obtain a Golden visa in the UAE if they fulfil one of the following conditions:

> Purchase a property for at least AED 2 million or

> Buy a property using a loan from particular local banks or

> Purchase one or more off-plan homes from recognized local real estate developers for no less than AED two million.

• Businesspersons

If an entrepreneur satisfies one of the following requirements, they may be granted a Golden visa:

> Own or are a partner in a startup that is registered as a small and medium-sized business (SMEs) in the United Arab Emirates and that brings in at least AED 1 million in annual sales

> Get the Ministry of Economy, an official business incubator, or other appropriate local authorities to approve your startup proposal.

> Must have started an entrepreneurial venture that was sold for at least AED 7 million in total.

• Special abilities

No of their degree of schooling, employment status, monthly wage, or level of expertise, extraordinary talents in critical disciplines including culture, art, sports, and digital technology are eligible for a Golden visa. A federal or local government agency must recommend or approve the visa.

• Scientists and professionals

Scientists

On the basis of a recommendation from the Emirates Scientists Council, scientists and researchers with significant achievements and impact in their field may be eligible for the Golden visa. A candidate should have a PhD or a Master’s degree from one of the top universities in the world in engineering, technology, the biological sciences, or the natural sciences, as well as significant research accomplishments.

Professionals

Professionals and highly talented employees in all fields including health, science, engineering, information technology, business and administration, education, law, culture, and social sciences, who have advanced degrees and professional experience are eligible for the golden visa in Dubai if they:

> Possess a current contract of employment in the UAE

> According to the Ministry of Human Resources and Emiratization‘s classification, fall under the first or second occupational level.

> Have earned a bachelor’s degree or its equivalent

> Have a minimum monthly income of AED 30,000.

• Outstanding students and graduates

The Golden visa is available to excellent graduates from the top 100 universities worldwide and the UAE’s top-performing secondary school students. The criteria include graduation year, university classification, and academic performance/cumulative average.

• Pioneering humanitarians

The Golden visa is available to pioneers in humanitarian work such as the following:

> Eminent members of regional and international organizations

> Prominent participants in public-benefit organizations

> Winners of distinction awards in the humanitarian sciences

> Notable supporters and volunteers for charitable causes.

• Front line fighters

The Golden visa is also available to frontline personnel who put out great effort in times of crisis, such as the COVID-19 pandemic.

What documents required to apply for the 10-year golden visa for investors?

When applying for the Dubai Golden Visa, investors must have specific documentation prepared depending on the type of investment they are considering.

For investors having a business or industrial trade license to qualify for the golden visa, the following documents are required:

> Copy of Emirates ID

 > Original passport

> Medical insurance

> Self-photo with a white background

> Individuals must invest at least AED 2 million or more in a trade license or licenses.

> Complete audit report for the most recent two years

> Copy of the auditor’s company’s trade license

> Certificate from an auditor

> 6 month personal bank statement

> 6 month bank statement for the business

Golden Visa for Investors in Dubai for 5 years

By making real estate investments, investors can also attempt to obtain a 5-year golden visa in the UAE. The criteria for the 5-year “golden visa” are as follows:

Real estate investment

> Purchasing real estate with a minimum gross value of 2 million AED.

> Loans with invested money are not advised.

> The property needs to be maintained for at least a period of 3 years.

How can I apply for a golden visa in Dubai?

Investors can now move on with the application procedure after meeting the eligibility requirements. The following actions must be taken to apply for a golden visa:

 > Decide which category the investor wants to submit an application for

 > Compile all necessary papers for the government

 > Next, pay the necessary fees.

 > Aim for a maximum of two weeks to wait for approval.

> Revocate present residency permit

 > Submit an application for a golden visa

> Get UAE golden visa stamped on your passport

Obtain Your Golden Visa Today With EagleWings

EagleWings is the one of the top business setup in the UAE. We have been assisting business owners to start and run their enterprises for more than 10 years. Our knowledgeable experts will walk you through every step of the procedure, including applying for your visa, comprehending everything you need to know about the visa, and receiving official approvals.

To discover more about the Dubai Golden Visa, get in touch with us. You can reach us by phone at +971 4 824 9940 or via WhatsApp at +971 52 420 0436. You can also send an email to info@eaglewingsuae.com and quickly receive answers to your questions.