How to Get a Golden Visa in UAE?

Get a Golden Visa in UAE

If you have ever planned to start your business or want to live for a long period in the United Arab Emirates (UAE), you should consider acquiring a Golden Visa in UAE.

The UAE is an excellent country with impressive tourist attractions, luxury resorts, and a growing economy. It attracts people to visit and reside in this country. However, there are many ways that a foreigner can follow to reside here, but most of them do not allow them to live for a long period.

That’s where the UAE golden visa comes into play. It is an excellent permit that allows you to live in this nation for a long duration. Today, we will provide an in-depth guide to getting this permit in this article.

UAE Golden Visa: Overview

The UAE Golden Visa is a long-term residence visa that allows you to live, work, or study in this nation.

You can easily apply for this visa program if you are an investor, frontline warrior, scientist, business owner, student, graduate, and more. However, you still need to follow some other requirements for a Golden Visa in the UAE. Keep reading to learn more about these requirements.

With this visa program, people who meet all requirements are eligible for long-term residency for a period of five to ten years. The best thing about this program is that it lets a foreigner and their family member come to live, work, or stay in this nation.

The decision of the Council of Ministers activates the long-term residency visa system, intending to attract investors willing to invest their assets in the country. Apart from investors, it also focuses on attracting other people, like entrepreneurs, graduates, and other talented people.

Benefits of UAE Golden Visa

Apart from allowing you to live in the UAE, the Golden Visa in UAE provides you with countless advantages. So, let us take a look at the top benefits of a golden visa in the UAE:

1. The best thing about this visa is that you don’t want a sponsor for this permit.

2. You can live outside the United Arab Emirates (UAE) for more than six months to keep your residence visa valid.

3. You can sponsor your family members, like your parents, spouse, or children. There is no age limit to sponsor your family members.

4. Suppose you died within the permit duration. In that case, your family members can still live in the nation until the end of the visa duration.

5. As we mentioned before, you can stay in the UAE for up to 10 years of longer duration with this visa.

Requirements for Acquiring the UAE Golden Visa 

Indeed, the golden visa provides people with countless benefits. Still, not everyone is eligible for this visa. There are a few requirements that you need to meet to get it. The following are the top people eligible and their requirements for this permit:

1. Investors in public investment

If you have invested in any investment fund, you can acquire a golden visa for 10 years. However, you must fulfill the following requirements to get this visa:

• Submit a letter from investment funds certified funds mentioning that you have invested AED 2 million*.
• Provide a verified industrial or commercial license along with the MoA demonstrating a lower investment of AED 2 million*.
• Submit a letter from FTA with the statement that you will pay the government not less than AED 250,000* yearly.
• It would also be great to submit proof that the capital investment is yours and that you and your family members have insurance.

2. Real estate investment

You can also get this visa for 10 years by investing in the real estate sector. Similar to investment in investment funds, you must also follow the following requirements:

• A letter from the emirate’s land department confirming ownership of one or more properties valued at AED 2 million* or more. Authorities can accept multiple properties.
• Purchase of an asset through a loan from certain banks approved by the competent local entity. It would also be best to have a statement from the developer’s account or bank NOC to proceed with the visa application.

3. Retirement Visa

People can also acquire the same visa for 5 years with lower real estate investment. However, they must meet the following criteria:

• The property value in the title deed must be a minimum of AED 1 million*.
• The minimum age of an applicant must be 55 years.

4. Entrepreneurs

You can also get this visa for 5 years if you are an entrepreneur. However, you must own an economic project of a future or technical nature based on risk along with innovation. However, you must obtain the letter from the following authority:

• An auditor mentioned that the project value is equal to or over AED 500,000*.
• The authority states that the project comes under is of a future or technical nature.
• A certified business incubator in the UAE to launch the planned venture.

5. Outstanding Specialized Talents

Doctors, scientists, inventors, athletes, engineers, and more are also eligible for a Golden Visa in the UAE. All of them can get it for 10 years. However, they must follow some requirements. Let us learn the requirements for each of them:

➦ Doctors and scientists 

• As a doctor, you need an approval letter issued from the Ministry of Health & Prevention to perform the profession of medicine.
• As a scientist, you must have either a letter from the Mohammed bin Rashid Medal Secretariat or a recommendation from the Emirates Council of Scientists, signifying their exceptional scientific accomplishments.

➦ Inventor

• A letter of recommendation that the Ministry of Economy issues.

➦ Creative people in culture and arts

• A letter of approval that the Department of Culture & Arts issues in the relevant emirate.

➦ Athletics

• A recommendation letter was issued via the General Sports Authority.

➦ Engineering or science expert

• Copy of bachelor’s or master’s degree certified via the Ministry of Education.

Apart from these experts, other specialists can also apply for the same.

6. Outstanding students

Whether you are a high school or a university student, you can get this visa for up to 10 years.

High school students can get it for 5 years. However, they need to submit a recommendation to the Ministry of Economy. They can also exceed the visa duration if they study in one of the colleges in the country that needs a study period of more than five years.

University students can get it for 10 years. However, they must meet the requirements mentioned below:

• The university in which they study must be rated A or B class.
• A verified graduation certificate confirming a minimum of 3.5 GPA for A-class and 3.8 GPA for B-class universities.

How to Apply for a Golden Visa in the UAE?

• Verify your eligibility category such as an investor or student before beginning with your application.
• Visit the official UAE government or ICP smart services portal and choose Golden Residency under available services.
• Select the specific Golden Visa service that is fit for your profile and begin the application.
• Enter your personal details correctly. Upload all relevant documents.
• Check the application carefully for mistakes or missing information before submitting.
• Pay the applicable government service fees to complete submission.
• Wait for approval and further instructions that may include a medical test and Emirates ID appointment.

Applying Golden Visa via ICP (Federal)

• Visit the official ICP website and go to Public Services.
• Get to the official ICP website and visit the Public Services.
• Choose Golden Visa and then Visa to Finalise the Procedures of Golden Residency.
• Enter your details and upload the documents. Pay the service charge applicable.

If you submitting the application from outside of the UAE, you will get an entry permit valid for six months. It is only extendable once to complete the process.

Applying Golden Visa through GDRFA (Dubai)

• Go to the official GDFRA Dubai website and visit the Golden Visa section.
• Choose the Investor Residency Visa and log into begin your application.
• Upload the needed relevant documents and complete the payment; GDFRA will check and notify you of next steps.

Checklist of Required Documents

Documents usually needed for a UAE Golden Visa Application are:

• Valid passport copies
• Copies of any previously held UAE visas
• Recent passport size photographs
• Proof of eligibility for your specific category such as investment letter or degree certificate
• Bank documents required where applicable
• Relevant health insurance for the applicant and dependents
• Proof of UAE residence address
• Police clearance certificates

Golden Visa Restrictions to Be Aware Of

• Real estate investors must fulfil the minimum AED 2 million property investment restriction.
• Business owners must have a minimum of AED 500,000* in project capital authorized by an approved auditor.
• High school applicants usually require a minimum of 95% and university graduates usually need a GPA of 3.75 or higher.
• Relevant health insurance is compulsory for all applicants and dependents.
• Approval depends on the case; submitting an application online does not guarantee it will be approved.

How can Flyingcolour Business Setup Help You?

A golden visa in UAE is an excellent permit that lets you live, reside, or work in this nation for up to 10 years. Apart from that, this visa gives countless benefits. However, you must meet some requirements to acquire it.

Indeed, there are countless ways to become eligible for this visa. However, investment in public funds or becoming an entrepreneur is among the easiest ways to get this visa. Flyingcolour Business Setup is here to help you fulfil all requirements. We will also guide you through the right steps to acquire it.

Frequently Asked Questions

How long does it take to process a UAE Golden Visa?

Processing a Golden Visa usually takes about a few weeks to a month depending on your specific eligible category and how fast supporting documents are submitted.

How Much Does a UAE Golden Visa Cost?

A 10 year UAE Golden Visa usually costs between AED 2800* and AED 4800* depending on whether you apply from inside or outside the UAE and the cost of the compulsory medical test along with emirates ID fees. Talk to our consultants for a correct and category specific quote.

How can I track my Golden Visa application status?

You can monitor your application status via the ICP or GDFRA website depending on where you applied.

Does the Golden Visa lead to UAE citizenship?

No. The Golden Visa is a long term residency permit and not a citizenship pathway. However, having one can benefit your profile for other residency benefits down the line.

Can I apply for a Golden Visa from outside the UAE?

Yes. If you apply from outside the UAE, you will specifically receive an entry permit valid for six months and extendable by another six months to complete your Golden Residency inside the country.

To learn more about How to Get a Golden Visa in UAE? book a free consultation with one of the Flyingcolour team advisors.

The article was published on 14/11/2024. It is important to note that the federal policies and updates mentioned may have changed since then. For the most current information, please contact our consultant.