How to Obtain Golden Visa: Know everything about it

For the past several years, the UAE has emerged as a top option for entrepreneurs and investors to establish their businesses and homes. Due to a booming market, forward-looking investment objectives, and the possibility to opt for a Golden Visa, many individuals decided to set up in Dubai, Abu Dhabi, and other Emirati jurisdictions.

In this article, you will learn everything you need to know about how to obtain a golden visa in the UAE. Additionally, you will discover the full list of main requirements, types of visas, and conditions to apply. You will also learn more about:

1. What is a Golden Visa?
2. Top Benefits of UAE Golden Visa for investors and entrepreneurs
3. Who can apply for a Golden Visa in the UAE?
4. 5-year Golden Visa: Requirements and profile
5. 10-year Golden Visa: Requirements and profile
6. Step by Step Golden Visa application process
7. How can we help you obtain a Golden Visa in the UAE?\

1. What is a Golden Visa?

The UAE’s exponential economic growth caught the eye of investors and entrepreneurs from all over the world. Thanks to its pro-migration policy, the Emirati authorities created a special long-term residential visa, also known as Golden Visa; to help “talented people and great minds” to settle in the UAE territory.

As a result, the Golden Visa allows foreigners and residents business owners a way to get a resident visa without resorting to a local sponsor. Since its creation in 2019, around 400 professionals moved within UAE borders to work, live, and, most importantly, thrive in all senses.

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However, Golden Visas have some special conditions. Firstly, not everyone is eligible to apply for them. Applicants must be professionals with years of experience in priority areas, researchers, investors, or large entrepreneurs.

Secondly, according to career and profession, a person can opt for a 5 or 10 year Golden visa (it will depend on the individual’s profile). Lastly, it is possible to apply for a renewal. However, to get it, the holder must follow some conditional terms.

2. Top benefits of a Golden Visa

The major benefit of the Golden Visa is allowing investors, entrepreneurs, and professionals the possibility to relocate to the UAE for a long-term period. According to solicited requirements, holders can reside in the country for up 5 to 10 years.

Likewise, holders enjoy:

• Multiple-entry permits: Golden visa holders have greater options to move out of the UAE frequently. Unlike other residential visas, Golden Visas beneficiaries are exempt from remaining physically in the UAE every 6 months.
• Beloved one’s extension: One of the general benefits of the visa is the extension of the visa to immediate family members (spouses and children) and business partners.
• Permanence Security: Thanks to its long extension, foreign Golden Visa holders feel safer to enjoy a long period of stay in the UAE.
• Renewal option: Although some conditions must be fulfilled, there is a possibility to renew the visa
• Aid and special services: Golden Visa also comes with aid and assistance programs to help foreign and resident investors. For instance, the 24/7 “You are special service” program in Dubai.
• Affordability: Contrary to what you may think, Golden Visa is one of the cheapest kinds of visas worldwide, making it more accessible for investors and entrepreneurs.

2.1 Golden visa cost

Cost may vary according to the type of visa you apply for. Each type has its own fees, documents, and requirements. However, it is around AED 5,000 for investors.

This amount excludes PRO services, additional fees, and charges.

3. Who can apply for a Golden Visa in the UAE?

The Golden Visa is intended to attract individuals who can contribute to the local economic growth and promote scientific, technological, and cultural advances.  Therefore, this visa is aimed at a specific type of foreigner.

It is typically given to people specialized in technology, venture, or creative fields. Likewise, other foreign and resident professionals like:

• Investors
• Entrepreneurs
• Researchers
• Large company’s owners
• Promising science students
• Specialized and experienced professionals
• Public and private secondary outstanding students
• Outstanding artists

Although all of these careers and professions are suitable candidates to opt for a Golden Visa, the duration of the Golden Visa will depend on the requirements to apply for the 5-year or the 10-year.

4. 5-year Golden Visa: Requirements and profile

5-years Golden Visas are related to the educational and investment fields. That is to say, they are aimed at investors, entrepreneurs, and outstanding students. The conditions and requirements for each one are:

4.1 Entrepreneurs

Business owners with organizations valued or with a minimum capital of AED 500,000. Moreover, another condition is that they have an incubator business credit approval within any of the UAE Free Zones, Mainland, or Off-Shore companies.

Benefits:

• A six-month multi-entry permit
• Visa renewal for another six months
• Long-term visa including spouse, children, a business partner, and three executives

4.2 Investors

This profile includes entrepreneurs with investments equivalent to AED 5,000. In addition, another condition is that the investments cannot come out of a loan. On the other hand, if they have investments in real estate, these must be restrained for at least three years

Conditions:

• The investor’s property or projects must be in a certified UAE field.
• Applicant must own the supporting organization
• Applicant’s company must provide records of support to startups or smaller enterprises. That is to say, they must provide resources and services to other organizations.
• The applicant shall provide insurance for themselves and their immediate family members at the time of application.

4.3 Outstanding students

In this case, College and secondary students can apply for a Golden Visa if they are cursing scientific studies or possess an outstanding GPA.

Conditions:

• Public or private secondary students with a minimum grade score of 95%
• College students, within and outside the country, with a 3.75 GPA by graduation time.

Benefits:

• Long-term visa for direct family

5. 10-year Golden Visa: Requirements and profile

Likewise, the 10-year Golden Visa profile and requirements are aimed at investors with high purchasing power or specialists with extensive academic and professional backgrounds. It also includes prominent figures in culture and the art world, doctors, high-level executives, and renowned scientists.

Therefore, specific requirements are:

5.1 Investors

In the case of investors, the main requirement is to be the owner of a company that has at least AED 10 million invested in the Emirati market. This amount repeats in the rest of the requirements.

Conditions:

• Applicant must partner with an existing or new company that has a share value of no less than AED 10 million.
• On the other hand, investors should have a 60% investment in real estate valued at no less than AED 10 million
• It is essential that the investment does not come from a loan.
• Applicant’s investment should be retained for at least three years
• Investors should have solvency of AED 10 million before applying

Benefits

• A business partners’ visa extension, on the condition that each partner contributes AED 10 million
• A visa extension for spouses and children’s
• Visa extensions for one executive director and one advisor
• Possibility to apply for a multiple-entry permit for six months.

5.2 Individuals with specialized talents

It covers professionals in science, technological development, scientific fields, and knowledge such as doctors, inventors, scholars, and researchers. In addition, specialized individuals and experts in the arts and culture are also eligible for the Golden Visa.

Conditions:

• Having a valid employment contract in a specialized field of priority in the UAE
• Properly documented and proved exceptional talent skills
• Patents or scientific research published in a high-level journal
• Executives must own a leading and worldwide renowned company
• Executives should present a high academic achievement position
• Scientists must have a Mohammed Bin Rashid recognition for Scientific Excellence and accreditation of the Emirates Scientists Council
• Art and culture researchers or professionals should be accredited by the Ministry of Culture and Youth

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On the other hand, extra requirements doctors and specialists should consider before applying are:

• A Ph. D form of one of the top 500 Universities in the world
• An award or certificates in his/her field of specialty
• Proven contribution to a major scientific research organization in his/her field
• Published articles in major scientific papers or magazines
• Published renowned specialized books in his/her field
• A Ph. D. degree
• A 10-year professional experience career
• Specializations in prior UAE tech, science, and cultural fields

6. Step by Step Golden Visa application process

Now that you know the profile to apply for a Golden Visa in the UAE, it is time to apply. If you meet the requirements and conditions, you must follow the next simple steps to make the process fast, safe and successful. These are:

Step 1: Gather the necessary documentation for its further submission in order to obtain the visa. The requested documents may vary according to the profile you fall in. However, in general terms, you will need the following:

• Applicant’s Passport copy
• Visa copy
• An Emirates ID
• Passport size color photo
• Trade License/Licenses
• Memorandum of Association
• Certificate and license provided by an auditor
• Bank statements
• Company/Organization/Real estate title deed
• Ejari
• Applicant’s health insurance (this also includes direct family)

Step 2: Submit the documents in proper order to the Consulate

Step 3: Once you pay the correspondent fees, submit the documents, and have the authority’s approval, the Golden Visa will be issued. Be willing to relocate to the UAE as soon as possible

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However, getting a Golden Visa does not mean you won’t require some extra licenses and permits to work freely after establishing in the UAE. Before settling or applying for the Golden Visa, remember to choose the area in which you wish to live and obtain or renew the necessary permits to operate freely.

7. How can we help you obtain a Golden Visa in the UAE?

Applying for a Golden Visa is not a complicated process. On the contrary, it is an opportunity to transform your lifestyle and achieve new professional goals in one of the most prone countries in the world. At Connect Zone, we are ready to help you make your Golden Visa application process go smoothly.

With over 20 years of experience, we are experts in successfully advising and introducing companies to the Emirati market. Likewise, once you are fully established in the UAE, we can contribute to your growth with our PRO services, guaranteeing a team of experts available 24/7 at the best price.

We also provide company formation services, staff outsourcing, business center option, document data verification, translation, bookkeeping, and tax consultancy. If your profile does not fit the Golden Visa requirements, you can also consult us to apply for a Freelancer visa. Our cost-effective packages are designed to help you to enter the freelancer Emirati market and exploit your freelance skills.

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Would you like to contact Connect Zone to know more about how to get a Golden Visa in the UAE? In case you have any questions, call us on +971 43 316 688. Moreover, you can email us at contact@connectzone.ae, and you will talk to one of our representatives who will answer your questions.

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