UAE’s golden visa rules: Things YOU should know
The Golden Visa system offers long-term residency to investors, entrepreneurs, individuals with outstanding talents, researchers, medical professionals and those within the scientific and knowledge fields, and remarkable students.
How to apply for UAE Golden Visa?
Interested individuals may apply for it through an online platform (https://business.goldenvisa.ae/). The candidates are required to submit necessary documents and be willing to relocate to the UAE in accordance with their business venture.
10-year visa eligibility requirements for investors
* A deposit of at least AED (United Arab Emirates Dirham) 10 million worth of public investment, either in the form of an investment fund or a company
* 60% of the total investment must not be in the form of real estate.
* The invested amount must not be loaned, or in case of assets, investors must assume full ownership.
* The investor must be able to retain the investment for a minimum of three years.
This 10-year long visa may be extended to include business partners, providing that each partner contributes AED 10 million. The long-term visa can also include the holder’s spouse and children, as well as one executive director and one advisor. This visa may also be renewed.
For individuals with specialized talents
The category includes doctors, researchers, scientists, investors and artists. These individuals may be granted a 10-year visa following accreditations granted by their respective departments and fields. The visa also extends to their spouses and children.
Eligibility for a 5-year visa
* The investor must invest in a property of a gross value of not less than AED 5 million.
* The amount invested in real estate must not be on loan basis.
* The property must be retained for at least three years.
Entrepreneurs
This category includes those having an existing project with a minimum capital of AED 500,000, 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.
Outstanding students
* Outstanding students with a minimum grade of 95% in public and private secondary schools.
* University students within and outside the country having a distinction GPA of at least 3.75 upon graduation.
SOURCE Times of India
