Who is Eligible for the Golden Visa in Dubai?
Eligible for the Golden Visa in Dubai
The United Arab Emirates (UAE ) is one of the best places to visit and live. The country’s government is working to introduce almost 50 new initiatives to boost the country’s competitiveness and improve industrial development within the seven emirates. Technology-based works are a few of those initiatives to attract skilled workers and residents from foreign countries.
As a result, countless foreign investors, entrepreneurs, and workers are looking for methods to start their businesses in the United Arab Emirates. For this, the government focussed on bringing new visa categories for foreigners. The golden visa in Dubai is one of those visas to help foreigners start their shop in the UAE.
Since the Dubai Golden Visa was introduced in 2019, hundreds of thousands of UAE residents have obtained this visa. The General Directorate of Residency and Foreigners Affairs declared in November 2022 that over 150,000 of these visas were issued in Dubai. However, there is not everyone can get this visa because there are a few eligibility criteria for a Golden Visa in UAE 2024.
If you are looking for the eligibility criteria for a Golden Visa in UAE 2024 to ensure your eligibility, you have landed on the right article. The article will provide you with a list of people who are eligible for this visa. Moreover, we will share with you some basic details about this visa.
Golden Visa in UAE – Overview
The United Arab Emirates (UAE) has different visa programs so that people may select the reliable visa as per their needs. The Dubai Golden Visa is one of those visas in the UAE. The Golden Visa is a legal document that allows foreigners to live in the United Arab Emirates. This visa is a long-term residency visa that enables foreigners to live and work or study in this country for 5 to 10 years.
The Golden Visa in UAE is developed to attract foreign investment and expertise to the UAE. This visa program is renewable and reserved for a specific category ranging from investors to persons with exceptional talent. Foreigners wanting to live in the United Arab Emirates but don’t want to renew their visa so often will find this visa option more appealing.
Benefits of Golden Visa in the UAE
There are uncountable benefits you can enjoy by golden visa in Dubai benefits. So, let us look at the top benefits of this visa:
- Long-term residency: The Golden Visa lets people reside in the UAE for a long time, typically for 5 to 10 years.
- No sponsor needed: The Golden Visa in UAE 2024 does not require an Emirati sponsor or local employer. It means that foreigners will have more autonomy and independence in their professional and personal lives.
- Tax benefits: The United Arab Emirates is popular for its favorable tax environment. There is no personal income tax or capital gain tax in this country. However, there is a corporate tax of 9% if you earn over AED 375,000*. The golden visa holder can save money with the help of this golden visa in Dubai benefits.
- Business opportunities: The golden visa in Dubai provides countless opportunities to establish and expand business in this emirate. It additionally supports entrepreneurship and innovation in the country.
- Family reunification: The Golden visa can extend to the dependent children and spouse of the primary visa holder.
What do you require to get a UAE Golden Visa?
There are a few things you need to perform to obtain a Golden Visa in UAE 2024. The following is the list of the top things necessary for this visa:
- You should make a real estate investment with a gross of a minimum of AED 5 million*. However, the spent money can’t be utilized to get the loan. Furthermore, you must keep your house in good condition for a minimum of 3 years. This investment will make you eligible for the Golden Visa in UAE for 5 years.
- It may be put into a UAE financial fund or used to purchase the property. But your real estate purchases can’t make up over 40% of the total.
- You can also begin a company with at least 10 million AED in capital or become a partner in a new or established business. The amount of your shares must also be at least 10 million AED.
- Invest in the public industry of the UAE. The money of investment should not be less than ten million AED.
Performing any of the above tasks will help you to be closer to the UAE and Dubai Golden Visa.
Who Is Eligible for Applying for a UAE Golden Visa?
As mentioned above, not everyone is eligible for a golden visa in Dubai. There are only a few people eligible for this visa. The following is the list of people eligible for this visa:
- Researchers and specialized talents in different fields of science and knowledge, like doctors, researchers, scientists, investors, and artists.
- Highly talented students with promising impressive scientific capacities (high school and university students)
- Inventors
- Entrepreneurs
If you are among these people, you can freely apply for the Golden Visa in UAE 2024.
Documents needed for the UAE golden visa
If you want to apply for any kind of visa, you must gather a few documents. Similarly, you must gather a few documents for the Dubai Golden Visa. The documents you need for this license are mentioned below:
- Copy or duplicate copy of current residency visa (if the applicant is a resident of UAE).
- Colored personal photo
- Passport copy.
- ID copy.
- A CV including contact details, biography, popular creative works, achievements in the cultural and creative fields
If the applicant is not residing in the United Arab Emirates, he or she might need a 6-month visa application to complete the golden residency process.
Why should you consult Flyingcolour?
Most people apply for a golden visa in Dubai to conduct business activities in this emirate. However, starting any business requires you to follow several steps that might be complex for beginners. Flyingcolour can help you to guide through the business setup procedure. Furthermore, our experts can help you to obtain the Dubai Golden Visa.
To learn more about being Eligible for the Golden Visa in Dubai, book a free consultation with one of the Flying Colour team advisors, simply call +971 50 5585305 or send WhatsApp messages to +971 4 4542366. you can also drop an email to info (at) flyingcolour (dot) com.
*Please note that this article was published on 21/02/2024 by the federal policies and updates at the time of writing. For the latest info please talk to our consultant
