The UAE Golden Visa

The United Arab Emirates, UAE is set to launch Long-term visas for interested applicants. Come October 3, 2022, the UAE will open the application portals for the 10-year Golden Residence Visa, the UAE golden visa, and the 5-year Green Residence Visa as well as additional long-term permits to enter and stay in the country. These will all become more accessible for residents and visitors contrary to pre-existing visas. The information was shared on Twitter by the country’s Identity, Citizenship, Customs & Port Security.

UAE Golden Visa

The UAE Cabinet led by the Vice President, Prime Minister and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum revealed on Monday, April 18, 2022, a sweeping set of executive regulations. This was done in order to attract top talents from different countries and also retain them in the country. With this new set of regulations, the UAE will be able to kill two birds with a stone by widening the eligibility criteria for the application of long-term visas and also increasing the population of individuals working professionally in different categories and roles. As such, the long-term visas are targeted at investors, entrepreneurs, startup owners, exceptional talents, scientists, professionals in various fields as well as outstanding students and graduates, humanitarian pioneers, and frontline heroes.

One of the most attractive benefits of these long-term visas is that they will extend to immediate family members. By implication, children, even up to 25 years can be sponsored by a Golden Visa or Green Residence visa holder. There has been a major and relevant increase from the previously set limit of 18 years. What’s more? There is no age limit for unmarried daughters. This means that as a Golden Visa or Green Residence Visa holder, you can have your daughters join you in the UAE irrespective of their ages, provided they are not married yet. Children of determination, that is with one disability or the other, are also granted a residence permit, irrespective of their ages.

The UAE Golden Visa residency programme was first implemented in 2019. However, it was only designed to enable expats to live, work, and study in the UAE without making the need for a national sponsor mandatory. Also, having complete, that is, 100 percent ownership of their businesses even on the UAE’s mainland was a compulsory necessity. Following the launch of the new UAE Golden Visa, things have been made way easier with the new rules. The eligibility criteria to apply for the 10-year visa have now been eased and more people across a diverse set of professions now have the opportunity of taking advantage of the Golden offer and can apply for the Golden Visa.

The five-year UAE Green Residence visa, on the other hand, targets exceptional talent, skilled professionals, freelancers, self-employed residents, investors, and entrepreneurs and this is an upgrade from the previous one which had a validity period of two years. Apart from the two visas being discussed so far, quite a reasonable number of new entry permits and visas which do not need a host or national sponsor have been announced by the UAE cabinet in a bid to benefit visitors, tourists and especially, job seekers. This is the first of its kind and we can only hope for more amazing opportunities to come in the nearest future.

What are the Eligibility Criteria for the UAE Golden Visa?

If you are familiar with the previously set rules guiding the application for the UAE Golden Visa, then you would probably notice the significant change in the eligibility criteria for the newly improved Golden Visa. The UAE Golden Residence Scheme has been simplified and there has been an expansion in the categories of people eligible to apply for the long-term 10-year visa under a new set of executive regulations.

Under the new executive regulations, the UAE Golden Visa will grant 10-year residence to investors, entrepreneurs, exceptional talents, scientists and professionals, outstanding students and graduates, humanitarian pioneers, and frontline heroes, provided they meet certain eligibility parameters.

UAE Golden Visa for Scientists

Scientists and Researchers with high achievements will be beneficiaries of The UAE Golden Visa. They will be granted the visa provided they have influence in their chosen fields with respect to the recommendation from the Emirates Scientists Council. The eligibility criteria for this category of people include:

  •  An advanced degree, that is, PhD or a Master’s degree in the disciplines of engineering, technology, life sciences, or natural sciences from the best universities in the world, as well as substantial research achievements.
UAE Golden Visa

UAE Golden Visa for Professionals

An expansion in this category was also put in place by The UAE Cabinet. This was done to attract highly skilled workers with adequate educational qualifications and professional experience in all disciplines, including;

  • medicine
  • sciences 
  • engineering
  • information technology
  • business and administration
  • education
  • law
  • culture and
  •  social sciences.

Applicants under this category must:

  • have a valid employment contract in the UAE.
  • be classified in the first or second occupational level according to 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.
  • have a minimum educational level and must have a bachelor’s degree or equivalent.
  • have a monthly salary of not be less than $8,167 (AED 30,000)

UAE Golden Visa for Exceptional Talents

The UAE Golden Residence visa will also be granted to top talents in vital fields. Here, talent has an important role to play as it is going to form the basis by which the visa will be awarded. By implication, it will be awarded based on talent only irrespective of the educational qualification, employment status, monthly salary, or professional level. Candidates applying under this category must:

  • obtain recommendation or approval of a federal or local government entity
  • be talented individuals in culture, art, sports, digital technology, inventors, and innovators in other vital fields.
UAE Golden Visa

UAE Golden Visa for Real Estate Investors

Well, there is a twist here. For Real Estate Investors who wish to participate in the 10-year residency program, they can only do so by purchasing a property worth no less than $544,500 (AED 2 million).

As per the new amendments which were made to ease the application process, investors have the opportunity and are entitled to obtain a loan from specific local banks to purchase the property.

Investors can also apply for and obtain Golden Residence Visa when buying one or more off-plan properties of no less than $544,500 (AED 2 million), strictly from approved local real estate companies.

UAE Golden Visa
Source: redanonline.rg

Golden Visa for Outstanding Students and Graduates

Even students aren’t left out of this amazing scheme. The long-term, 10-year Golden Visa also targets high-performing, outstanding students in UAE secondary schools as well as outstanding graduates from UAE universities, and from 100 of the best universities worldwide. The visa will be granted according to specific criteria which include:

  •  their academic performance (cumulative average)
  • the year of graduation
  • and the university classification.

UAE Golden Visa for Humanitarian Pioneers

As per the rules put in place by the UAE cabinet, humanitarian pioneers are also eligible and can benefit from the long term residence permit under the new Golden Visa rules. Such pioneers include distinguished members of both international and regional organisations, outstanding members of associations which offer public benefits, recipients of recognition awards in humanitarian fields as well as distinguished volunteers and sponsors of humanitarian efforts.

UAE Golden Visa for Frontline Heroes

Frontline Heroes refer to workers who play an important role in crises with extraordinary efforts such as the COVID-19 pandemic are also entitled to benefit from the Golden offer under the new rules issued by the UAE government.

UAE Golden Visa

UAE Golden Visa for Entrepreneurs and Startup Owners

The new executive regulations put in place by the UAE cabinet for entrepreneurs and business owners to obtain the Golden Residence Visa are totally flexible and realistic. In order to obtain the Golden visa, entrepreneurs should:

  • own or be a partner in a startup registered in the UAE under the small and medium enterprises (SMEs) category
  • have a registered startup which must generate annual revenues of not less than $272,250 (AED 1 million).

Please note that; 

  • applying as an Entrepreneur or startup owner in this category means you must obtain approval for a startup idea from an official business incubator, from the Ministry of Economy, or from a competent local authority will be deemed eligible to obtain the Golden Residence in this category.
  • Entrepreneurs who are founders or one of the founders of a previously sold entrepreneurial project(s) will also be eligible provided that the project was sold for a total of not less than $1.9 million (AED 7 million). For this category, the approval of the Ministry of Economy or competent local authorities will be required for projects or ideas.
UAE Golden Visa

What are the Benefits of the UAE Golden Residence Visa?

An obvious benefit of the UAE Golden Residence Visa to its beneficiaries is a secured stay in the UAE for a period of 10 years. However, in addition to this, the new rules will allow the Golden Visa holder to: 

  • sponsor his/ her family members. These include spouses and children regardless of their age, and sponsoring support services (domestic) labourers without limiting their number.
  • transfer the ownership of the Golden visa to family members to allow them to stay in the UAE in the event of the death of the original holder of the Golden Residence until the end of their permit duration.

Furthermore, another noteworthy benefit is the removal of the restriction related to the maximum duration of stay outside the UAE in order to keep the Golden Residence valid.

With all these put in place by the UAE cabinet, it is obvious that every Tom, Dick and Harry has been considered and involved in the UAE Golden Visa Residence Scheme. You sure don’t want to miss this.

Also, check out the UAE Green Residence visa which targets talented and skilled workers all over the world to gain entry and reside in the UAE for a period of 5 years. The 5-year Green Residence visa is meant to boost the flexibility of the job market and foster a high sense of stability among UAE residents and families. The new 5-year Green Residence visa will be aimed at exceptional talents, skilled professionals, freelancers, investors, and entrepreneurs.

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