Did you know that more than 38% of the overall population of the United Arab Emirates consists of Indians? Even before the UAE became the super-luxurious and super-rich city of today, Indians began to migrate to this country looking for work. Indians looking for work in the UAE needed to get a sponsor (in the form of an employer) to get a residential visa, which had to be renewed every few years. While this condition remains for the regular residential visa, there is a new type of UAE Visa/Dubai visa available which gives Indians the opportunity to stay in the UAE without renewing their visa for a long time. Yes, we are talking about the golden visa, which was introduced by the UAE government in 2019. Here you will find all the details about the UAE golden visa.
What is UAE Golden Visa?
The UAE golden visa is a long-term visa that is provided to people who fulfill certain conditions. This visa is available for 10 years and 5 years. The UAE government introduced this visa with the aim to retain ‘talented people and great minds’ in the country. The government also wants to encourage people to invest and contribute in the business development of the country. It is available to 5 groups of people:
- Specialized talents
- Researchers in various fields of science and knowledge
- Bright students with promising scientific capabilities
UAE Golden Visa Requirements
Entrepreneurs and Investors: If you want to get the UAE golden visa as an investor or entrepreneur, you need to fulfill the following requirements:
- You need to make an investment of minimum AED 10/AED 5 million in the UAE.
- You can establish a company in the country that has a net capital of not less than AED 10/AED 5 million.
- You can become a partner of a new company or an existing company in the UAE with a share value that is not less than AED 10/AED 5 million.
- The golden visa can be extended to business partners as well if they invest AED 10/AED 5 million, each.
*Important Conditions: While investing your money in the UAE, there are certain conditions that you need to fulfill.
- One of the conditions that you need to fulfill in all the above cases is that your investment in other sectors apart from real estate should not be less than 60%.
- You cannot loan the money that you use for investment, and you need to provide adequate proof for the same.
- The investment has to be retained for at least 3 years.
Specialized Talents and Researchers: Specialized talents include professionals like doctors, scientists, specialists, inventors, creative individuals working in the field of art and culture, etc. If you want to apply for a UAE golden visa as a specialized talent or researcher in the various fields of science and knowledge, you need to fulfill the following requirements:
- Creative individuals should be recognized by the UAE Ministry of Culture and Youth.
- Scientists should either be holders of the Mohammed Bin Rashid Medal for Scientific Excellence or should be accredited by Emirates Scientists Council.
- Inventors should have a patent of value under the name; a patent that would add to the country’s economy. Only people with patents approved by the Ministry of Economy would be accepted.
- Exceptionally talented researchers should have their scientific research papers published in a world-class journal or at least be documented by patents.
- Doctors and specialists with a Ph.D. degree from one of the top 500 universities in the world, contribution to major scientific research (in own field), published scientific books or articles, etc. would be chosen for this special visa.
- Holders of high academic achievement or position as well as owners of internationally-renowned company are eligible for the UAE golden visa.
Students: The UAE golden visa for students is given to those students who have exemplary academic achievements. This visa would be given to those students from private and public secondary schools, who have achieved a minimum 95% in their exams. Apart from this, university students with a distinction GPA of minimum 3.75 at the time of graduation are also eligible for this visa.
UAE Golden Visa Benefits
Apart from giving you the chance to live, work, or study in Dubai for 5 or 10 years, depending on your investment, there are several other benefits of the UAE golden visa:
- The UAE golden visa for entrepreneurs and investors can be extended to their spouse, children, 1 executive director, and 1 advisor as well.
- The UAE golden visa for specialized talents, researchers and students can also be extended to their families.
- Golden visa owners do not need a local sponsor.
- You can be 100% owners of your business
- You do not have to renew this visa every 2-3 years. Moreover, the golden visa is renewed automatically at the end of its validity.
The UAE golden visa is a visionary move by the rulers of the United Arab Emirates. This would not only attract exceptionally talented as well as wealthy people to country but would also provide them with the security to live and invest in the UAE for a long time.