UAE Golden Visa Explained: Who Is Eligible To Apply And What Are The Requirements?
Last updated on September 6th, 2022 at 01:12 pm
In 2019, the UAE implemented a new system for foreigners who wanted to live, work and study in the UAE (United Arab Emirates). The new system provides long term visas to foreigners without the need for a national sponsor.
Why is the Golden Visa important?
- The long term visas or Golden Visa allow foreign citizens to live, work and study in the UAE with 100 per cent business ownership.
- These visas will be issued for 5 or 10 years and will be renewed automatically.
Who is eligible to apply for a Golden Visa?
- Investors, entrepreneurs, and researchers in various fields of science and knowledge can apply for the Visa.
- Bright students with promising scientific capabilities can apply for the Golden Visa too.
What are the terms and conditions to apply for the Visa?
- To apply for a 10-year residence visa in the UAE, people having no less than AED 10 million worth of public investment can apply. A deposit of at least AED 10 million in an investment fund inside the country is mandatory.
- To apply for a 5-year residence visa in the UAE, people must invest in a property of a gross value of not less than AED 5 million.
- The amount invested must not be loaned
- The amount should be retained for at least three years.
What should entrepreneurs know about Golden Visa?
- Visa can be extended to include business partners if each partner contributes AED 10 million.
- The long-term visa can include the family members, as well as one executive director and one advisor.
- Investors from abroad may apply for a multiple-entry permit for a six-month period.
What should students know about Golden Visa?
- A minimum grade of 95 per cent in public and private secondary schools can apply for the Visa
- University students within and outside the country having a distinction GPA of at least 3.75 upon graduation can apply for the Golden Visa.
- Long-term visas od students also cover families
Let us know what you think about Golden Visa?