Almost all news channels and publications are talking about Malayalam actors Mohanlal and Mammootty receiving Golden Visas from the United Arab Emirates Government. Yusuffali was the person behind this quote-unquote achievement. But, what the hell is Golden Visa? We bet you’ve asked this yourself. Fret not, we did some digging. So, here’s everything you need to know about UAE’s Golden Visa.
In simple words, the Golden Visa offers long-term residency – 5 -to 10 years – to certain people who fall under a certain category. The Golden Visa will give you a second home to live in and rejoice. The United Arab Emirates Government issued the Golden Visa in 2019 that allowed foreign nationals to work, study, and reside in the UAE for a long period of time. They can do so without a sponsor or 100% ownership of a national business.
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You need to be an investor, a business pioneer, a person of professional talent in any field, or a brilliant student of great scientific ability, a real estate investor to be eligible for the visa.
10-year Golden Visa Condition
For Investors and Real Estate Owners
- A minimum public investment of AED 10 million is mandatory. The investment can be in the form of an investment fund in the UAE, a company, partnership in an existing or new company, or all of the previously mentioned factors provided that the investment in sectors other than real estate is not less than 60 per cent of the total investment.
- The AED 10 million should not be a loan, should be retained for a minimum of three years, and hsould have financial solvency.
- The visa can include the spouse, children, one executive director, one advisor, and a business partner (as long as each invests AED 10 million).
For Persons with Specialised Talents
- Scientists: Must have an accredition by Emirates Scientists Council or have the Mohammed Bin Rashid Medal for Scientific Excellence.
- Creative individuals in culture and art: Must be accredition by Ministry of Culture and Youth.
- Inventors: Must have a patent of value approved by Ministry of Economy and that benefits UAE’s economy.
- Exceptional talents: Must be documented by patents or a scientific research published in a renowned journal.
- Business Executives: Must be owners of a leading and internationally recognized company or holders of a high academic achievement and position.
- Doctors and specialists: Should have two of the below:
- Ph. D. degree from one of the top 500 universities in the world (refer to ICA for information)
- An award or certificates of appreciation in the field of the applicant’s work
- Contribution to a major scientific research in the respective field of work
- Published articles or scientific books in distinguished publications in the respective field of work
- Membership in an organisation related to the field
- Ph. D. degree, in addition to 10-year professional experience in his field
- Specialisation in areas of priority to the UAE
5-year Golden Visa Condition
For Investors and Real Estate Owners
- A property investment of not less than AED 5 million.
- The AED 5 million should not be a loan, and should be retained for a minimum of three years
- An existing project with a minimum capital of AED 5 million, or those who have the approval of an accredited business incubator in the country.
- The entrepreneur is allowed a multi-entry visa for six months, renewable for another six months.
- The long-term visa includes the spouse and children, a partner and three executives.
- A grade of at least 95 per cent in public and private secondary schools
- University students within and outside the country having a distinction GPA of at least 3.75 upon graduation.
- Long-term visa includes families of the outstanding students.
Note: All of the information has been taken from here.