In recent years, the United Arab Emirates (UAE) has emerged as a global hub for business, innovation, and investment. With its strategic location, thriving economy, and visionary leadership, the UAE has been actively attracting foreign investors, entrepreneurs, professionals, and individuals with special talents.
At the heart of this effort lies the UAE Golden Visa, a game-changing initiative that offers a pathway to long-term residency and numerous benefits. In this blog, we’ll delve into the key aspects of the UAE Golden Visa and how it can open doors to a world of opportunities.
Understanding the UAE Golden Visa
The UAE’s commitment to growth and progress is evident in its relentless pursuit of becoming one of the world’s largest and most influential economies. To achieve this vision, the UAE government introduced the Golden Visa program in 2019, as a result of ushering in a new era of long-term residence visas. The Golden Visa allows foreign residents to live, work, study, and invest in the UAE without the need for an Emirati sponsor, all while retaining 100% ownership of their business setup in UAE.
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Types of UAE Golden Visas
There are two primary types of UAE Golden Visas:
10 Year Golden Visa
Investors aiming for this 10-year visa must have a minimum of AED 10 million worth of public investment, either through an investment fund or a company. Crucially, at least 60% of the total investment must not be in real estate, and the investment amount should not be borrowed. Ownership of assets is a prerequisite. This visa can include the investor, their spouse, children, one Executive Director, and one Advisor.
5 Year Golden Visa
The eligibility criteria for a 5-year Golden Visa are similar, with the key difference being the required investment of at least AED 5 million. But Exceptional students and foreign nationals looking to establish businesses can also apply for a 5-year permanent residency, provided they meet the specific conditions.
Benefits of the UAE Golden Visa
The UAE Golden Visa is highly sought after due to the myriad of benefits it offers:
- Zero Taxes: There are no taxes applied to any kind of personal income.
- Business Opportunities: Holders of the Golden Visa can freely work and invest in Dubai, one of the world’s most dynamic business environments.
- World-Class Healthcare: Access to world-class health services and insurance, ranking among the best globally.
- Driving License: The ability to apply for a UAE driving license, enhancing mobility.
Eligibility for UAE Golden Visa
The UAE Golden Visa is not limited to investors alone. It is also available to:
- People with Special Talents: Artists, doctors, scientists, specialists, and inventors who excel in their respective fields.
- Exceptional Students: High-achieving students from high schools, colleges, or universities with outstanding academic records.
- Entrepreneurs: Eligible for a 5-year visa, with a minimum capital investment of AED 500,000 or accreditation from a business incubator in the country.
- Investors: Investors seeking a 10-year visa need to invest AED 10 million, while a 5-year visa requires AED 5 million.
How to Apply for the UAE Golden Visa
Applying for a UAE Golden Visa involves specific steps:
- Investors must make a qualifying investment, which can include property or capital investment.
- Entrepreneurs should have a minimum capital investment or accreditation from a business incubator.
- Property owned by an investor should be unencumbered and retained for a specified period.
- Applicants must go through the Federal Authority for Identity and Citizenship.
- Submission of all necessary documents and a willingness to relocate to the UAE for business activities is essential.
- For a 10-year Golden Visa, a deposit of at least AED 10 million in an investment fund within the country is required, along with financial solvency up to AED 10 million.
How Golden Fortune Can Help
Navigating the intricacies of obtaining a UAE Golden Visa and setting up a business in the UAE can be a complex endeavor. That’s where experts like Golden Fortune come in. As one of the leading consultancies in Dubai and other Emirates, Golden Fortune specializes in business setup services in Dubai and visa applications.
Whether you are an investor or an entrepreneur, on the other hand Golden Fortune offers customized services to streamline the process, ensuring that your journey to business success or obtaining a visa is smoother and quicker.
The Final Thoughts
In conclusion, the UAE Golden Visa represents a golden opportunity for those seeking long-term residency and growth in one of the world’s most vibrant business landscapes. With its many benefits and diverse eligibility criteria, it’s a program that unlocks endless possibilities.
If you’re looking to seize these opportunities in the UAE, consider partnering with Golden Fortune, your trusted ally in business setup and visa application services.