There have been thousands of investors, professionals, students, and entrepreneurs who have been granted the highly sought-after Golden Visa of the United Arab Emirates since it was first introduced in 2019.
In the first half of 2023, there was a 52 percent increase in the number of Golden Visas that were issued, as reported by the General Directorate of Residency and Foreigners Affairs (GDRFA) – Dubai. More than 150,000 Golden Visas had been distributed by the emirate as of November 2022 to those who were qualified to purchase real estate, including investors, professionals, and others.
10-year visa holders
Holders of the 10-year visa are eligible for a variety of benefits, one of which is the ability to issue residence permits to members of their family, including families with children and spouses. The age limit for children who are sponsored has been raised from 18 to 25 years old, and there is no age restriction for daughters who are not married. No matter how old they are, youngsters who demonstrate a degree of determination are eligible to receive residence permits. Additionally, there are no limitations placed on the number of domestic workers that can be sponsored, and the Golden Residence continues to be valid without any constraints placed on the maximum amount of time that can be spent outside of the United Arab Emirates.
Individuals who are employed in the fields of healthcare, media, information technology, and other fields who have a monthly salary of Dh30,000 or more are qualified to apply for the Golden Visa.
However, there are certain groups of individuals for whom it is not necessary to hold a job in order to submit an application for a 10-year visa. I will list five of them here:
The Golden Visa is available to citizens of the United Arab Emirates and foreign investors who purchase one or more properties with a total value of Dh2 million or more through the purchase of real estate. In this context, "off-plan" and "existing" properties in the country are used interchangeably.
As part of a significant announcement, Dubai has eliminated the requirement that property purchasers make a down payment of one million dirhams in order to be eligible for a 10-year visa. However, in order to satisfy the qualifying requirements, the total worth of the property must still be at least two million dirhams.
In order to be eligible for the prestigious visa, persons with a high net worth can make a cash deposit of two million dirhams with a local bank for a period of two years. People who choose to participate in this program are eligible for assistance from a number of local banks across the nation.
Eligible for golden residency
A broad set of standards has been established by the executive regulations for entrepreneurs who are eligible for the Golden residence. An individual who is interested in becoming an entrepreneur must either be the owner of a startup or a partner in a startup that is registered in the country as a small and medium enterprise (SMEs) and generate yearly revenues of at least one million dirhams.
In addition, the individual will be eligible for the Golden Residence if they were either the creator of a previous entrepreneurial venture or one of the founders of a venture that was sold for a total value of not less than Dh7 million. In order for initiatives or ideas to be implemented, they must first receive approval from the Ministry of Economy or the appropriate municipal authorities.
Scientists and researchers
As a result of recommendations from the Emirates Scientists Council, the golden visa residency is awarded to scientists and researchers who have achieved a great deal and have a significant amount of influence in their respective fields. In addition to having substantial research accomplishments, the candidate should hold a doctoral or master's degree in the fields of engineering, technology, life sciences, and natural sciences from one of the most prestigious universities in the world.
Exceptional students
exceptional students who are enrolled in secondary schools in the United Arab Emirates and outstanding graduates from universities in the United Arab Emirates and the top 100 universities in the world are eligible to apply for the 10-year visa. The academic performance (cumulative average), the year of graduation, and the categorization of the university are some of the specific criteria that are considered.
