Who Can Apply for UAE Golden Visa ?
In 2019, the UAE Government introduced a new system for long term resident visas. With this system, foreigners can now live, study or work in UAE without a sponsor and can also have 100% ownership of businesses in the country. These visas named Golden visas will be issued for 5 years or 10 years and are set up in such a way that they will be renewed automatically. So, who all can apply for Golden Visa and avail long term residency in the UAE? Let’s find out.
Firstly, an individual who has at least AED 10 million in the UAE is eligible to apply for a 10-year resident visa, without a sponsor. The investments however should not be attached to any loans and should be retained for a minimum of three years. This category usually will have investors who can also include their spouse, dependents and one executive director and an advisor of their business while applying for the golden visa.
An individual who owns properties in the UAE worth AED 10 million or more is eligible to apply for a 5-year golden visa. The property should be retained for at least three years and should not have any loan attached to them. Entrepreneurs who have investments in existing projects in the UAE with a minimum capital of AED 5 million can also apply for the five-year residency visa. These entrepreneurs can include their spouse, dependents, a business partner and three executives while applying for the visa.
Along with investors and entrepreneurs in the UAE, individuals who possess specialised professional talents may also apply for the golden visa. Researchers in the field of science and knowledge including scientists, doctors, specialists, inventors and creative individuals in the culture and art field may also apply for the long-term residency visa. In this category, the specialised professional talents could be granted with a 10-year visa.
The following must be noted:
- Scientists applying for the visa must be accredited by Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence
- Creative individuals in the field of culture and art must get accreditation from Ministry of Culture and Knowledge Development
- Inventors must obtain a patent of value which must be approved by the Ministry of Economy. These patents must add value to the economy of UAE
- Exceptional talents must have patents or scientific research published in a top-class journal.
- Doctors and specialists must satisfy at least two of the following conditions:
- A Ph.D. degree from any of the world’s top 500 universities
- An award or certificate of appreciation in the applicant’s respective field of work
- Contribution to a major scientific research in their field of work
- Membership in any organisation related to their field
- Scientific books or published articles in significant publications in their field of work.
- In addition to 10 years of professional experience, the applicant must have a Ph. D. degree in their field of work
- Specialisation in areas prioritised by the UAE
- Executives must own a leading and internationally recognised company or hold a high academic achievement and position
For 5-year residency visa, outstanding students studying in recognised universities and schools anywhere can also apply. The long-term visa includes families of these students as well.
To apply for the Golden Visa, you can do it through the Federal Authority for Identity and Citizenship’s (ICA) website. The Al Nahda Centre, Dubai also has ICA’s office where you could get all the clarification from. Al Nahda Centre serves as a one-stop destination for all government document processing services and ICA is one among them. If you fall under the aforesaid categories, you can apply for Golden Visa and Al Nahda Centre can be of great help.
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