Picture for illustrative purposes only.
PHOTO BY ARCHIVE
With the UAE expanding the list of people qualified to apply for the Golden Visa, some residents are asking: Is it still worth it?
The answer to this question lies on the person’s need for a long-term residence visa, and the circumstances surrounding his or her residence in the UAE.
Here’s what you need to know about the UAE Golden Visa that may help you decide whether getting the UAE Golden Visa is the best option for you.
The UAE Golden Visa allows foreign nationals to live, work or study in the country without a local sponsor.
Unlike a regular residence visa, the UAE Golden Visa is issued without a local sponsor, such as an employer. It is also valid for 10 years and is renewable. The visa will remain valid even if the holder stays outside the UAE for more than six months, whereas a regular residence visa becomes automatically void if the holder stays outside the country for more than six months.
Golden Visa holders can sponsor their family members, regardless of their age, and an unlimited number of household workers. The original visa holder’s family members are also allowed to stay in the UAE until the end of their permit validity, in the event of the death of the original holder of the Golden Visa.
Investors, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers and frontline heroes can apply for UAE Golden Visa.
The cost of the 10-year visa for candidates who are already in the UAE ranges from Dh3,800 and Dh4,800. The exact cost is dependent on the category in which the applicant is applying. The applicant will also need to spend approximately Dh1,000 for a medical exam and a processing charge for an Emirates ID. Additionally, they will need to purchase UAE health insurance, which starts at Dh800 and varies in cost.
In Dubai, applicants can register through the General Directorate of Residency and Foreigners Affairs (GDRFA) app, website, or any approved typing centre. Applicants from other emirates can apply through the Federal Authority for Identity, Citizenship, Customs and Port Security (ICA) or ICA-approved typing centre.
Documents you need to apply for a Golden Visa
– Copy of passport
– Copy of visa
– Copy of Emirates ID
– Passport-sized photo
– Tenancy contract
– IBAN number
– Medical insurance card
– Medical fitness certificate
– Supporting documents (employment contract, salary certificate, bank statement, copy of diploma etc)
If you are a skilled professional with a valid employment contract in the UAE, you can apply for a Golden Visa as long as you meet the salary requirement.
Skilled professionals who want to apply for a UAE Golden Visa must have a bachelor’s degree with a minimum monthly salary of Dh30,00. A health insurance is also required upon applying for the visa. If you are applying for a Golden Visa under the category of executive director, you need to have a salary of at least Dh50,000.
Yes. Here are 16 questions to know if you qualify in other categories.
Scientists and researchers with high achievements and influence in their field based on recommendation from the Emirates Scientists Council can get the UAE Golden Visa. The candidate should have a PhD or master’s degree in the disciplines of engineering, technology, life sciences and natural sciences from the best universities in the world, as well as substantial research achievements.
The UAE Golden Visa is also given to highly skilled workers with educational qualifications and professional experience in all disciplines, including medicine, sciences and engineering, information technology, business and administration, education, law, culture and social sciences.
The applicants should have a valid employment contract in the UAE, and should be classified in the first or second occupational level as per the Ministry of Human Resources and Emiratisation classification, which is aligned with the International Standard of Classification of Occupations ISCO by the International Labour Organisation.
The minimum educational level must be a bachelor’s degree or equivalent, and the monthly salary should not be less than Dh30,000.
This residence is granted to top talents in vital fields. It is awarded based on talent only regardless of the educational qualification, employment status, monthly salary or professional level. It requires the recommendation or approval of a federal or local government entity, and includes talented individuals in culture, art, sports, digital technology, inventors and innovators and other vital fields.
Real estate investors can get Golden Visa when purchasing a property worth no less than Dh2 million. Investors are also entitled to obtain the Golden Residence when purchasing a property with a loan from specific local banks. Investors can also obtain Golden Visa when buying one or more off-plan properties of no less than Dh2 million from approved local real estate companies.
Entrepreneurs are eligible to obtain the Golden Visa. An entrepreneur should own or be a partner in a startup registered in the country in the small and medium enterprises (SMEs) category and generates annual revenues of not less than Dh1 million.
In addition, obtaining approval for a startup idea from an official business incubator or from the Ministry of Economy or the competent local authorities is sufficient to obtain the Golden Residence in this category.
If the person is a founder (one of the founders) of a previous entrepreneurial project(s) that was sold for a total of not less than Dh7 million, he or she will be entitled to the Golden Visa. The approval of the Ministry of Economy or the competent local authorities is required for projects or ideas.
This residence targets high performing students in UAE secondary schools, and outstanding graduates from UAE universities and the best 100 universities worldwide, according to specific criteria that includes their academic performance (cumulative average), the year of graduation, and the university classification. ICA/Expat Media
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