How to Apply for Golden Visa in UAE: Eligibility & Procedure

Everyone’s been following the latest fad in town: how Bollywood actor Sanjay Dutt was recently conferred UAE’s lesser-known Golden Visa and became one of the first mainstream Bollywood actors to hold the special status.

But what really is the Golden Visa in UAE, and how did it gain the limelight?

Despite the recent buzz revolving around UAE’s Golden Visa, it was introduced in 2019 as part of a new system for long-term residence visas.

The Cabinet Resolution No. 56 of 2018 regarding the Organization of Residence Permits for Investors, Entrepreneurs and Professional Talent provisions golden visas to

• Entrepreneurs
• Investors
• Researchers and savants in various disciplines of science and knowledge
• Specialized Talents (artists)
• Students with extraordinary portfolios

The Business Visa was introduced as part of the Golden Visa system in a bid to provide foreigners and permanent residents with a long-term visa for themselves and their dependents. The determinants may include both your parents, based on the conditions set forth by the Federal Authority for Identity and Citizenship.

So, if you’re determined to apply for the Golden Visa in UAE, call us at + 971 4321 6631 today! We will carry out the complete procedure of applying for a Golden Visa for you.

Eligibility for a 5-year Golden Visa

You can apply for a 5-year Golden Visa if you fall under any of the following categories.

1. Property Investors

In order to qualify for the Golden Visa, you must:

• Invest in a property of gross value of not less than AED 5 million.
• Retain the property for at least three years.
• Invest in real estate that bears no loans.

Ensure that you satisfy the above criteria before applying.

2. Entrepreneurs

An entrepreneur can apply under two conditions:

• If their ongoing/extant project marks a minimum capital of no less than AED 500,000.
• If they gain the approval of an accredited business incubator in the country.

Entrepreneurs are granted a multi-visit 6-month visa that remains renewable for an additional 6 months. The long-term visa will also accommodate the visa holder’s spouse, children, a partner and three executives.

3. Extraordinary Students

Students that pass the following criteria can apply for the Golden Visa:

• University students from and outside the UAE holding a minimum GPA of 3.75 upon graduation.
• Students with a minimum of 95% in public and private schools.

The visa includes the student’s family.

Eligibility for 10-year Visa

You can apply for a 5-year Golden Visa if you fall under any of the following categories.

1. Property Investor

This base criterion for this category is that the investor must have made a public investment of at least AED 10 million. The investment may be in the form of:

• A company establishment (seek Dubai business setup help here) in UAE with a capital of at least AED 10 million.
• A deposit of no less than AED 10 million in an investment fund within the country.
• Becoming a partner to an existing or a new company with a share value of at least AED 10 million.
• Make a total investment of at least 10 million in all the aforementioned areas on the condition that investment in areas other than real estate remains no less than 60% of the total investment.

Conditions

The following conditions have to be met before a visa can be granted:

• The invested amount should not be loaned.
• Financial solvency of up to AED 10 million is a must.
• The investment must be for at least 3 years.

The visa can be extended to include business partners, provided that each of the partners invests AED 10 million.

A long-term visa can also be extended to the applicant’s spouse and children, one advisor and one executive director.

Investors from outside the UAE may apply for a multiple-entry six-month visa.

2. Specialized Talent

This category includes researchers and scientists in the field of science such as specialists, doctors, inventors, and creative individuals from the fields of art and culture. The visa here includes the spouse and children at no additional cost. However, the applicant must exhibit a valid employment contract in their respective field in the UAE.

Conditions

• Scientists applying for the Golden Visa must be accredited either by the Emirates Scientists Council or the holders of the Mohammed Bin Rashid Medal for Scientific Excellence.
• Inventors must hold a patent that would add value to the UAE’s economy. Patents must be approved by the Ministry of Economy.
• Creative individuals in the fields of culture and art must be accredited by the Ministry of Culture & Knowledge Development.
• People exhibiting exceptional talent must have published a scientific paper in a world-class journal or must be documented by patents.
• Executives must be the owners of a leading, international company or front-runners of a high academic position.

Specialists and doctors must satisfy at least two of the following criteria:

• Member of an organization related to the field.
• Must have contributed to a major scientific research in their field of work.
• Must hold a Ph. D. from any of the top 500 universities in the world.
• In addition to holding a Ph. D., must have at least 10 years of professional experience.
• Must specialize in areas of priority in UAE.
• Must be an awardee or hold certificates of appreciation in their respective field.
• Must have articles published or scientific books to their name in a renowned publication.

Need Help?

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Cross Link International is one of the best business setup consultants in Dubai and will assist you in company formation, PRO Services, Visa Services, Business License renewal, Trade Licenses, free zone company formation, LLC company formation and many more services that entail business formation. Reach out to us through + 971 4321 6631 / + 971 55 744 6445 or fill-in this form to get a free consultation from us.