10 Year Residence Visa in UAE

UAE Golden Residence Visa

Long Term Residence Visas in the UAE

UAE Government had introduced a new Visa System for Long Term Residence in 2019 to promote entrepreneurship, education, and long term knowledge creation.

Aimed at inviting more entrepreneurs, global investors, and specialized talents from abroad and provide an opportunity for UAE based ex-pats to support more actively to the UAE economy, the UAE Government has broadened the eligibility criteria for specialist talents to secure long term residence visa in UAE.

Under the Long term (Gold Visa) Visa norms foreign investors, entrepreneurs, students, and professionals are eligible to apply for a 10-year residence visa and settle in UAE without the need of a national sponsor.

For the global Investor, it is 100% ownership of their business on the UAE mainland and an extended stay in UAE with family.

Under the Long Term residence visa scheme in UAE the Visas will be issued for a 5 year and 10-year period and renewed automatically.

Eligibility for a Long Term 10-year Residence Visa in UAE

Category 1: Investors in the UAE

This category is tailor-made for high-net investors in the UAE. The criteria to be eligible for the 10-year visa is a minimum investment of AED 10 million.

Also, there are few guidelines to be followed as to how the investment must be distributed, those are as follows:

A deposit of AED 10 million in an investment fund inside the country
Setting up a company in UAE with a capital of at least AED 10 million
Partnering in an existing company or a new company with a share value of not less than AED 10 million
Having an investment of AED 10 million in the above-stated categories with a minimum of only 40% in real estate

Further things to note about the nature of investment:

The issuance of a 10-year investor gold visa is subject to the following conditions:
The Amount invested must not be loaned amount
The investment must be retained for at least three years
A financial Solvency of up to AED 10 million must be ready
Under the 10-year Gold Visa, Investors are eligible to sponsor the business partners, (each partner contributes AED 10 million), Sponsor family and one executive director, and one advisor.

Category 2: Person with Specialized Talents

Specialized professions and Talents are eligible for a 10-year visa. There is a wide range of professions that is eligible for the long-term visa.

Researchers in the field of science and knowledge such as doctors, specialists, engineers with specific know-how of electronics, computer science, artificial intelligence, big data, etc.; also talents from the creative, culture, and art sector too are invited for long term visas in UAE.

The specialized talent visa also extends to outstanding students from accredited universities with a GPA of 3.8 or more.

Conditions for 10 Year Gold Visa for Specialized Talents in UAE

The individual must have a valid employment contract in the respective specialization
The Scientist must be approved by the Emirates Scientists Councillor accredited by Mohammed Bin Rashid Medal for Scientific Excellence
Artists and Creative Persons must be accredited by the Ministry of Culture and Knowledge Development
Inventors must obtain a patent of value that is approved by the Ministry of Economy
The researcher’s work must be documented and published in top-rated Journals

Doctors & Specialists are required to meet at least two of the following criteria:

Must have a Ph.D. Degree holder from one of the top 500 universities in the world
Received Award or Certificates of Appreciation in the field of work
Contributed to major scientific research in the respective field
Published articles or scientific books in distinguished publications in the related field
Must be a member of an organization related to the field
A Ph.D. degree, plus 10 years of professional experience in the related field
Specialist in areas of priority to UAE (computer engineering, electronics, programming, electricity, biotechnology, etc.)

Under the specialist talent 10-year Gold Visa, the family (Spouse & Children) is also eligible to be sponsored by the primary applicant.

Here is the List of Professions Eligible for the 10-year Long Term Visa based on the latest update from the UAE Government.

5 –Year Long Term Residence Visa

5-Year Long Term Visa is another category introduced along with the 10-year long term visa, there are certain categories and criteria to be met to issue the 5-year visa to the individual by the UAE Government, those are the following:

Category 1: Investment in a Property in UAE

The Investor must fulfill the following condition while investing in a property in UAE to qualify for the 5-year long term Residence visa.

The Property Value must be at least AED 5 million
The amounted invested on the property must not be on a loan basis
The property must be retained for at least three years

Category 2: Entrepreneurs

For entrepreneurs intending to settle in UAE and have an existing project with a minimum capital of AED 500,000, are eligible for the long term visa.

Also, those who have the approval of an accredited business incubator in the country can qualify for the 5-year Long term Visa.

The long term residence visa also includes the family, a partner, and three executives. For applying for the Visa and setting up the project in UAE, the entrepreneur is issued a 6 months’ multiple entry visa that can be converted to a long-term visa.

Frequent Asked Questions (FAQs) -Long Term Residence Visa

How much is the Cost of the Golden Visa in UAE?

The Five-year visa cost as low as AED 650 and the ten-year visa for AED 1,150. There will also medical insurance and Emirates ID issuance fees as an add-on to this.

Can the UAE Visa Holder stay Outside the Country for More than 6 months?

For the Long Term Visa holders, the general rule of not staying outside UAE for more than 6 months doesn’t apply

Who Can Apply for UAE Long Term Residency Visa (Golden Visa)?

Foreign and UAE based high-net individuals, entrepreneurs, educators, Ph.D. holders, Scientists, Doctors, Professional Talents in Science, art and Creative fields, and more.

Does the Golden Visa need to be renewed?

The Long term visas will be renewed every 5 years or 10 years according to the type. The criteria must be met during the renewals to continue the long term visa status.

What if the Business of the investor Fails?

The UAE Government will take every case specifically during the renewal stage and assess and decide accordingly.

Is there any Age Restriction for the recipient?

There is no age restriction to apply for the Long Term Residence visa in UAE.

How will Aurion Assist You?

Aurion Business Consultants has well-experienced Professional Consultants and PRO Service Agents to assist you with the end-to-end UAE long Term Residence Visa Processing. From Application Preparation to Visa Stamping and beyond, Aurion will be with you assuring you have a hassle-free visa processing experience.

Read our blog Eligibility Criteria for Golden Visa in UAE. Talk to our expert team of business setup consultant right away!