The UAE’s Golden Visa it’s benefits and requirements
The UAE’s Golden Visa it’s benefits and requirements
The UAE Golden Visa is your path to a long-term residency visa in the United Arab Emirates. Until now the government, has awarded those residents who has made outstanding contributions the UAE, or are highly skilled in certain areas or who work in certain industries with the Golden Visa.
Now, the process is more open and if you find yourself within certain categories you would be able to apply for one too. In this article, I will be walking you through what exactly is the Golden Visa, the benefits it comes with and who could be eligible for the Golden Visa.
What is the UAE Golden Visa?
Residency for 5 to 10 years. You will be a resident on your own Visa, without any ties to any employers and you would not have the need to renew the visa every two to three years unlike the normal residence visa, that requires you to do so.
The Golden Visa allows expats to live, work and or study in the UAE without a need for a local sponsor. Furthermore, the Golden Visa, also allows residents to fully own and operate a business on the UAE’s mainland, without a need for a local sponsor.
Who can be eligible for the Golden Visa?
The recent changes to the UAE’s Residence and Entry Scheme, allows for a broader range of individuals to be able to apply for a Golden Visa. People who fall into categories such as entrepreneurs, frontline heroes, investors, entrepreneurs, exceptional talents, scientists, professionals, students and graduates can apply.
1. Entrepreneurs
Entrepreneurs, who satisfy one or more of the below three criteria’s would be eligible for a UAE Golden Visa.
• Applicant is a partner or owns a start- up company that is registered as a small and medium enterprise within the UAE (SME). The company should also generate an annual revenue of no less than 1 million Dirhams.
• The entrepreneur must have founded a project that was sold for more than 7 million Dirhams.
• The applicant has approval from an official business incubator within the country for their start-up.
2. Investors
If you own a property or purchase one in the UAE that amounts to at least 2 million Dirhams, you are eligible for a Golden Visa.
3. Exceptional Talents
For those who possesses exceptional talents, such as inventors, innovators, in various vital fields such as art, culture, sports and digital technology can also apply and obtain a Golden Visa, regardless of their work experience, salary, educational qualifications or professional qualifications.
However, this requires a recommendation or approval from a federal or local government entity.
4. Scientists
Scientists and Researchers who have achieved success in their careers can apply for a Golden Visa if they receive a recommendation from the Emirates Scientists Council.
This category requires the applicant to have a PHD or Master’s Degree in the required field such as engineering, technology and natural sciences from one of the best universities in the world as well as significant research achievements.
5. Professionals
Highly Skilled employees, or Professionals who possess exceptional educational qualifications and professional work experience can apply for a Golden Visa. This applies accorss various fields such as medicine, science and engineering, technology, digital technology, business and administration, education, law, culture, and social sciences.
This category requires the applicant to be in possession of an employment contract in the UAE and be classified as a first or second occupational level under the Ministry of Human Resources and Emiratization category. Further, the applicant also should be holding a minimum of a bachelor’s degree and must be earning a salary of minimum 30,000 Dirhams or more per month.
6. Students and Graduates
High achieving students and in the UAE’s secondary school system as well as those who are outstanding graduates from any of the UAE’s universities are eligible to apply for a Golden Visa. This also applies to high achievers’ graduation from any of the best 100 universities in the world.
The criteria’s include, academic performances, cumulative grade average, year of graduation and the university classification.
Students that performed well form top universities worldwide with a GPA of 3.8 and above are also eligible to apply for the visa. Students from secondary school who have obtained an average of at least 95% in their high school certificate from public or private schools are also eligible to apply. The Visa will be granted for their family members as well.
7. Frontline Heroes
The one’s who helped us fight the battle of the pandemic (COVID-19), being a frontline worker such as healthcare staff, and any other frontline workers may also apply for the UAE Golden Visa.
8. Humanitarian Pioneers
Humanitarian Pioneers are counted as distinguished members of international charitable organizations or those who are members of associations of public benefit.
The recipients of awards in the humanitarian and charitable sectors are also eligible and their recognized volunteers who help and helped with humanitarian, crises and charitable efforts are also eligible to apply for the Golden Visa.
How can I apply?
If you consider yourself to amongst any of those mentioned above, you might be able to acquire a Golden Visa!
You need to head onto the Abu Dhabi Residents Office Site, click on the golden services section on the same website and fill in the details to request for a nomination. It is that simple.
What benefits do I get with the Golden Visa?
Apart from the long-term residency there are more benefits, such as the ability to for you and your family to be self sponsored instead of relying on the sponsorship of an employer. This allows the Golden Visa holders to remain in the country, working and or studying in the country for the entire duration of the Visa on their own terms without having the need to be locally employed. They can work for themselves or another company.
The Golden Visa allows the individual to sponsor their family members regardless of the dependents age.
If the main holder of the Golden Visa passes away during the term of the visa, their family members are allowed to reside in the country regardless until the conclusion of the visa.
The holders of the visa may also employ and support an unlimited number of domestic helpers. The UAE golden visa does not limit the number of employed and sponsored support that is needed.
In July 2022. It was announced that UAE Golden Visa holders would be eligible for special healthcare and health insurance packages. Plans will cover claims of up to Dirhams 20,000,000.
Dubai Police launched a privilege card in 2017, known as the Essad Card with discounts to various stores, universities, restaurants, theme parks and more. Golden Visa holders would be able to apply for an Essad card as well.
How long does the UAE Golden Visa last for and can it be renewed?
The Visa lasts for up to 10 years, it can be renewed if the residence holder still meets the original initial requirements that first made them eligible for it.
– Mohamed Shaamil Shakeer
The content of this article should not be taken as legal consultation. In case you are involved in any problems related to the following subject or have any queries, Hassan Al Reyami Advocates and legal consultants would be delighted to address your concerns during a 30-minute free legal consultation session offered to you.
