Golden Visa Eligibility and Benefits
Golden visa – Long-term residence visas in the UAE
In 2019, the UAE implemented a new system for long-term residence visas. The new system enables foreigners to live, work and study in the UAE without the need of a national sponsor and with 100 per cent ownership of their business on the UAE’s mainland. These visas will be issued for 5 or 10 years and will be renewed automatically.
Cabinet Resolution No. 56 of 2018 Regarding the Organisation of Residence Permits for Investors, Entrepreneurs and Professional Talent regulates granting golden visas to:
1. investors
2. entrepreneurs.
3. specialised talents and researchers in various fields of science and knowledge
4. bright students with promising scientific capabilities
Eligibility for a 10-year visa
The following categories are entitled to apply for a 10-year residence visa in the UAE.
a. Investors in public investments of at least Dh10 million.
The investment may take many forms such as:
1. A deposit of at least Dh10 million in an investment fund inside the country
2. Establishing a company in the UAE with a capital of not less than Dh10 million
3. Partnering in an existing or a new company with a share value of not less than Dh10 million
4. Having a total investment of not less than Dh10 million in all areas mentioned, on condition that the investment in sectors other than real estate is not less than 60 per cent of the total investment.
Conditions
Granting a visa is subject to the following conditions:
1. The amount invested must not be loaned.
2. The investment should be retained for at least three years.
3. There should be a financial solvency (the ability of a person, business or organisation to pay their debts and have cash to pay for future needs) up to Dh10 million.
Visa can be extended to include business partners, on the condition that each partner contributes Dh10 million.
The long-term visa can include the spouse and children, as well as one executive director and one advisor.
b. Persons with specialised talents
This includes specialised talents and researchers in the fields of science and knowledge such as doctors, specialists, scientists, inventors, as well as creative individuals in the field of culture and art. The visa advantage extends to the spouse and children. All categories are required to have a valid employment contract in a specialised field of a priority in the UAE.
Conditions
Granting a visa is subject to the following conditions:
1. Scientists must be accredited by Emirates Scientists Council or holders of the Mohammed Bin Rashid Medal for Scientific Excellence.
2. Creative individuals in culture and art must be accredited by Ministry of Culture and Knowledge Development.
3. Inventors must obtain a patent of value, which adds to the UAE’s economy. Patents must be approved by Ministry of Economy.
4. Exceptional talents must be documented by patents or a scientific research published in a world-class journal.
5. Executives must be owners of a leading and internationally recognized company or holders of a high academic achievement and position.
Doctors and specialists must meet at least two of the following conditions:
1. a Ph. D. degree from one of the top 500 universities in the world.
2. an award or certificates of appreciation in the field of the applicant’s work
3. contribution to a major scientific research in the respective field of work
4. published articles or scientific books in distinguished publications in the respective field of work
5. membership in an organisation related to the field
6. a Ph. D. degree, in addition to 10-year professional experience in their field
7. specialisation in areas of priority to the UAE.