The UAE Government issue Golden Visas for 10 years to foreign investors, entrepreneurs, scientists, professionals, and outstanding students. The UAE Immigration will issue a 5-year or 10-year Visa to individuals who meet the eligibility criteria for Golden Visa.
There are more than 154,000 Golden Visa Holders currently in UAE as per reports from various sources. There are few conditions the investor or high-Net-Worth Individual must meet to be eligible for the Golden Visa. This blog highlights the list of requirements for obtaining a Golden Visa in UAE.
The attractive benefits of long-term Visas trigger foreign investment, retain talent, and offer a long-term residence guarantee to the foreign investors and the expatriate population of the UAE.
Who Qualifies for the Golden Visas in UAE?
Investors, entrepreneurs, executives, as well as specialists working in medicine, science, or research, and outstanding students are eligible for a 10-year Golden Visa in UAE.
The government of the UAE is shifting its focus from the Oil and Gas sector to a Knowledge-Based economy. The new Visa change is a start to that. To qualify for the Golden Visas there are certain series of requirements the individual must meet.
What are the Criteria for the Issuance of a Golden Visa in UAE?
The investors will be granted a 10-year residency visa depending on the investment in the UAE, and educational & professional qualifications.
General Investors with Dh 2 Million + Investment in the UAE
Investors who have business investments in a company as capital or as a business partnership worth Dh 2 million are eligible for a Golden Visa of 10 years.
The investor can start a new business or invest in an existing business based in UAE. An Investor’s spouse, children can also obtain Golden visas under the investor visa category.
Scientists, Researchers, Doctors – with Accreditation, Work experience, Doctorate
Researchers working in the field of science, as well as doctors, specialists, scientists, and investors, will be granted a 10-year visa. Also, professionals in the field of the creative sector are eligible for this visa.
In addition, doctors and scientists must meet at least two of the following conditions in their work to qualify for the Visa application:
- A Doctorate degree from one of the world’s top 500 universities
- An Award/Certificate of Appreciation for their work
- A contribution to major scientific research
- Published articles or scientific books in distinguished publications
- Membership in an organization that requires excellence to qualify
- 10 Years of professional experience in the field of work
- Scientists must be accredited by the Emirates Scientists Council.
Holders of the Mohammed bin Rashid Medal for Scientific Excellence are also eligible for the 10-year visa
Creative Professionals with Accreditation and Patents
Creative Professionals working in the fields of culture and art are also eligible for Golden visas.
Requirements for Creatives to apply for Golden Visas
- Accredited by the Ministry of Culture and Knowledge Development Inventors
- Holds a patent that adds value to the UAE’s Economy
- Patents documented by patents or scientific research published in world-class journals
Outstanding Students with 95% marks and a 3.5 GPA in Graduation
Outstanding students with a grade of at least 95% in school and a GPA of at least 3.75 upon graduation from universities in UAE and abroad will be qualified for a 5-year visa for themselves and their families.
Executives with Dh 30,000 Monthly Salary
A recent addition to the Golden Visa norms is that an executive with a monthly basic salary of Dh 30,000 or more is eligible for the Golden Visa. To be eligible they must hold a bachelor’s degree and 5+ years of work experience.
All the long-term visa holders are eligible to enter UAE for a 6-month period with multiple entries, the option to renew for another 6 months, and then apply for 10-year visas. Employers are offering Golden Visa sponsorships to retain their top level talents of their company.
With the new expansion of Golden Visa eligibility to coders, electrical engineers, business analytics, Artificial Intelligence professionals, etc., employers in UAE are focusing their efforts to onboard top talents for a longer duration.
What are the Key Benefits to the UAE Economy of the Long-term Visa reforms?
The new Golden Visa reforms will significantly change the perception of the UAE from an expatriate destination to more of a long-term settlement option for foreign investors.
Also, the new Visa reform will invite a lot of foreign investment and help in shaping up a stronger economy in the future with a focus on innovation, entrepreneurship, and non-oil sector growth.
Which UAE Residence Visa the Shareholder is eligible to Apply for?
There is a series of updates to the UAE Residence Visa categories for expatriates to extend their stay in the country. The business investors and company owners are eligible for various types of UAE Residence Visas.
Following are the types of UAE Residence Visas the company owner can apply for after incorporating the company in the UAE.
1. Investor / Partner Visa
The investor/Partner Visa is available to the company owner or investor by default with any additional criteria requirements to qualify. As soon as the company incorporation is complete, the investor can apply for an investor or partner visa.The investor visa is valid for three years and must be renewed after the period. Also, to keep the visa status active the investor must remain in UAE at least 180 days a year. Additionally, the company license must be renewed every year to avoid any penalty.
2. General Manager / Administration Manager Visa
The company owners can also opt for a General Manager / Administration Manager Visa that comes as a default visa category. There is no specific eligibility for obtaining the General Manager Visa for the investors in a company. Similar to the investor visa, the tenure for the General Manager visa is also three years subject to renewal. The business investor can become the General Manager of the company in UAE and oversee the operations in UAE and abroad.
3. Green Visa
The company owners can apply for a Green Visa if they meet certain criteria. Green Visa is available for 5 years and it is subject to renewal depending on meeting the eligibility criteria. The Green Visa holders can sponsor themselves and there is no requirement of a UAE employer or UAE national to sponsor their visa. There are a few benefits of the Green Visa such as:
- Easily sponsor the family members, spouse, children & first-degree relatives
- Ability to sponsor male children up to 25 years, no age limit for unmarried daughters, and children of determination
Eligibility Criteria for Green Visa
The business investor must submit the following documents to meet the eligibility criteria.
- Self-employment permit from the Ministry of Human Resources and Emiratization
- Proof of a bachelor’s degree or specialized diploma
- Annual income from self-employment for the previous two years must not be less than AED 360,000, or documents to prove financial solvency throughout their stay in UAE
Investors or partners who invest capital in other companies are also eligible for the Green Visa. They must submit the proof of investment with the total capital amount to the government for approval.
Similarly, employees with a minimum salary of AED 15,000 per month, and having a valid employment contract can apply for the Green Visa.
4. Golden Visa
Property Investors can obtain the Golden Visa in the UAE if they meet the following eligibility criteria.
- They have a property worth no less than AED 2 million
- They have more than one off-plan property of no less than AED 2 million from approved local real estate companies.
Company owners and Entrepreneurs can obtain a Golden Visa by fulfilling the following conditions:
- Own or partner in a start-up or a small and medium company in UAE, the company must generate an annual income of at least AED 1 million.
- Have a startup idea approved by an official business incubator the Ministry of Economy or other local authorities
- Must have founded an entrepreneurial project that was sold for a total amount worth AED 7 million.
The golden Visa is also applicable for exceptional talents in the vital fields of culture, art, sports, digital technology, etc. Inventors, innovators, and creative people can apply for a golden visa in UAE.
It is also extended to scientists with high achievements, highly skilled workers, outstanding students, college graduates, etc.
For any assistance regarding long-term visa processing, feel free to reach out to us right away!
