Dubai Golden Visa – How to Apply, Eligibility and Requirements: Dubai Golden Visa had been one of the very trending issues among Dubai and United Arab Emirates residents because they first announced it in May 2020. The decision has sent waves of aspiration to all people who want to settle and grow in UAE. The golden visa strategy is introduced to embrace the ability and attract investments that may drive the UAE’s future growth.
Dubai govt has offered an upgrade on 15 November 2020 about the golden visa. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, declared on Sunday 15 November 2020, that the committee has decided to enlarge the record of professionals qualified for the ten-year golden residency visas.
What’s a Dubai Golden Visa?
In the United Arab Emirates, a standard employment visa is provided for two years. It may be revived unlimited times so long as the individual has active employment status. A golden visa is a long term residency visa provided to a specific category of individuals like investors, professionals, physicians, scientists, artists, inventors, entrepreneurs, and outstanding students.
A complete list of classes eligible for a golden visa is offered below. Unlike a standard home visa, a Golden visa allows a foreign investor to fully have a business in the United Arab Emirates without having a sponsor.
Kinds of Dubai Golden Visa:
There are two kinds of golden visas -10 years and five years.
Each type has its eligibility standards and requirements—a list of professions now contained in the golden visa strategy.
- Ph.D. degree holders
- Engineers from the fields of computer engineering, electronics, programming, electricity, and biotechnology
- Any other unique talents from the field of engineering, science which recognized and certified by world-renowned organizations.
- Outstanding students/ graduates
Professional Requirements for Eligibility
- Ph.D. degree holders should be holding a Ph.D. degree from one of the world’s top 500 universities.
- Doctors specializing in viral epidemiology.
- Engineers in computers, electronics, programming, electric, electronics, active technology, AI, and big data.
- Scientists/researchers licensed by the Emirates Scientists Council or the holders of the Mohammed Bin Rashid Medals for Scientific Excellence. Top graduates out of United Arab Emirates accredited universities with a Grade point average of 3.8 and above.
- Inventors: A patent of value-added to the state economy and accredit the Ministry of the Economic.
- Creators of culture and art: The creator must be licensed by the Ministry of Culture and Knowledge Development.
- Exceptional abilities have to be documented by scientific research printed in a top-notch journal.
- Executives should be owners of leading and internationally recognized business or holders of high academic accomplishment and position.
- Foreign investors who’ve invested Dh10 million or above may also apply for the golden visa. This investment can be in the shape of a deposit in an investment fund, establishing a company, or investment in real estate or any other strategic sectors.
- Entrepreneurs should be having an existing project with a minimum capital of Dh500,000, or those who have the approval of an accredited business incubator within the country.
- Outstanding students with a minimum grade of 95 percent in public and private secondary schools university students within and outside the country having a distinction Grade point average of at least 3.75 once graduated. The long-term visa includes families of outstanding students.
Specific Requirements for Investors
- A deposit of at least AED 10 million in an investment fund inside the country
- Establishing a corporation in the United Arab Emirates with a capital of not less than AED 10 million
- Partnering in an existing or a brand new company with a share value of not less than AED10 million
- The total investment of not less than AED 10 million in all areas mentioned and investment in real estate isn’t less than 60 percent of the total investment.
Rules for the Invested Amount
- The amount invested should not be loaned
- The investment should be retained for at least three years
- There should be financial solvency up to AED 10 million
- Visa can be expanded to include business partners, on the condition that each partner contributes AED 10 million
- The long-term visa may consist of the spouse and kids and one executive director, and one advisor
The way to make an application for the golden visa from outside of the UAE
People outside the United Arab Emirates and wish to avail United Arab Emirates golden visa shall first apply for the particular entry permit to enter the country and complete the golden visa procedures in the United Arab Emirates. This entry visa can be used online at the federal authority ICA website. A single or multiple entry visa for six months will be provided.
- Apply for a six-month, multi-entry visa to complete the procedures for residency of an investor
- Apply for a six-month, multi-entry visa to complete long-term residency procedures for entrepreneurs and outstanding students
- Apply for a six-month, single entry visa to meet the residency procedures for talented individuals.
Dubai Golden Visa facility extends to the spouses and kids. In the case of investors, the visa advantage can be expanded to one executive director and one advisor, in addition to the family of the investor. All people are required to have a valid employment contract to avail the golden visa.
Granting of visa is subject to the approval of relevant professional requirements.