According to Resonance Consultancy’s 2021 World’s Best Cities Report, Dubai came in at number five. The UAE government has started several programs targeted at luring top talent to the state because many overseas experts, business owners, and investors work hard to obtain a residency visa in the emirate.
One such program is the UAE Golden Visa. We have created a unique post that contains details on the requirements and advantages of obtaining a Golden Visa, in addition to how to apply for one. We have compiled a list of well-known real estate developments in Dubai, where purchasing property entitles you to apply for a 10-year resident visa. If you live outside of the nation, we will also send you instructions on how to apply for this kind of visa.
Dubai Golden Visa
The Golden Visa is an automatic 10-year renewal permit for long-term residency in the United Arab Emirates. The state put the system into place in 2019, and under the new guidelines, foreign nationals do not need to have a national sponsor to live, study, or work in the nation. On the UAE’s mainland, foreigners are now permitted to own 100% of businesses.
A long-term residency in the United Arab Emirates (UAE) of 10 years is another advantage of issuing a Golden Visa. This is advantageous for foreign nationals who wish to dwell in the country without having to worry about the trouble of renewing their visa.
The Golden Visa was introduced by the national government as a means of keeping gifted individuals in the state. Golden Visas may be awarded to the following individuals in line with Cabinet Resolution No. 56 of 2018 Regarding the Organization of Residence Permits for Investors, Entrepreneurs, and Professional Talent.
- Specialized talents and researchers in various fields of science and knowledge
- Students with promising scientific capabilities
Qualifications for a Ten-Year Visa
Those with specialized capabilities and investors in public assets worth at least AED 2 million (USD 545 thousand) are eligible to apply for a 10-year resident visa in the United Arab Emirates. Investments in the first scenario could take the following forms:
- Forming a business in the United Arab Emirates with a minimum capital requirement of AED 2 million.
- Investing in a new or established business with a minimum share value of AED 2 million.
- A minimum AED 2 million deposit in a UAE-based investment fund.
- Borrowing from the invested amount is not advised.
- At least three years should pass before the investment is sold.
How to Get a Dubai Golden Visa?
The following actions are involved in getting a UAE Gold Visa:
- On the Federal Authority for Identity and Citizenship (ICA) website of the United Arab Emirates, register your interest. A designated space is available for golden services.
- Apply using the “Visa – Golden Visa – Nomination Request For Golden Residence – New Request” option if you fit inside one of the qualifying groups but haven’t been put forward for nomination.
- Enter your personal information in the online form. Indicate the category you think you qualify for a nomination under. Additionally required will be a Unified Identification Number (UID). Everybody who enters the nation is immediately assigned this 6-digit number.
- The UAE Authorities will assess your application, and within 30 days, you will receive an email with the results. In addition, you will receive an email with a link to upload the necessary visa documents if your nomination is accepted.
- After thereafter, your application will be verified by the Federal Authority for Identity and Citizenship.
- Your Golden Visa will be issued by the authorities following application verification.