In a short period, Dubai has emerged as one of the most sought-after locations for individuals looking to settle abroad by completing the process of the Dubai Golden Visa Requirement. The list includes students, professionals, entrepreneurs, and even expatriates. What began as a tourism destination quickly ascended towards becoming a dream city that today experiences a lot of migration annually and the trajectory for the same is only expected to go upwards in the coming years. Today Dubai boasts of some beautiful housing establishments like Damac Natura in Damac Hills 2, which surpassed some of the most iconic cities in the world once considered a dream destination to settle in like New York, Miami, Paris, and Sydney.
Dubai is committed to its long-term goal of not just establishing itself as a financial nucleus for the UAE. But for the entire Middle East as well, its demand for thriving talents in diverse fields and backgrounds continues to grow. However one of the vital reasons behind the success of Dubai has been some of the visa policies initiated by the UAE. One of which includes the Dubai golden visa requirements which was introduced in 2019. It became a revolutionary step for the country and today it continues to play a major role in attracting and retaining a lot of influential individuals like entrepreneurs, investors, and highly skilled professionals.
What is the Golden Visa?
Introduced as a long-term residency program in the UAE by the government to attract high-network individuals, professionals from all fields, investors, and exceptional talents to shape the country and help it reach its potential. Its residency duration ranges from 5 – 10 years and comes with excellent opportunities for those who wish to lead an improved quality of life, have, better access to infrastructure and world-class amenities, and provide better education and employment opportunities for their children.
How does Golden Visa Works?
Golden visa lets foreign citizens live, work, and study in the country in UAE through a national sponsor. This visa focuses on establishing an atmosphere that is business-friendly and innovative allowing for a smooth transition for investors, professionals, and talented students to settle in the UAE. To sum it up, a golden visa refers to long-term residence in the UAE in exchange for financial efforts or unique talent. While the golden visa can be obtained by anyone considering they meet the eligibility requirements, these visas are ideally targeted towards the following categories.
- Investors: Individuals looking to invest a huge amount of money in real estate or any business in Dubai.
- Entrepreneurs: Refers to the founders and CEO of startups or big-scale companies who can contribute towards the economy of UAE.
- Skilled Professionals: Seasoned professionals in major fields like medicine, science, engineering, corporate and research.
- Unique Talents: Artists like musicians, stand-up comedians, and innovators who can come up with something fresh.
- Exceptional Students: High-grade students of UAE schools or universities.
Eligibility & Criteria to attain Golden Visa
Golden Visa applies to a diverse range of applicants like doctors, scientists, athletes, working professionals, students, entrepreneurs, and so on. Each category or class of applicants will have their own set of eligibility factors for Dubai Golden Visa requirements.
- Investors in public relations – To obtain a 10-year golden visa, it becomes mandatory for these investors to actively engage with the UAE-certified investment fund which requires either a minimum deposit of 2 Million AED or possession of either a high-value commercial or industrial license with capital of upto 2 Million AED.
- Real Estate Investors – To obtain a golden visa, they need to own a property worth 2 Million Dirham minimum and have a confirmation letter from the land department which authorizes their ownership.
- Entrepreneurs – For this, they must own a large-scale company or a startup with major evaluation. For approval, a letter will be required by the UAE editor which confirms that the value of the project is worth at least 500,000 dirhams and must have written approval from the local Emirate authorities who can vouch for the project and its credibility.
- Doctor & Scientists -The doctors need an approval letter from the Ministry of Health and Prevention of UAE ministry to practice medicine. Scientists require a letter of recommendation from the Emirates Council of Scientists which confirms the medal of scientific excellence award.
Perks of Dubai Golden Visa
The benefits of the Golden Visa Dubai are several and numerous as well. Some of its major advantages include.
- 10 Years of Validity – A Golden Visa can be valid for up to a decade after the first application. Its validity period makes the golden visa a long-term residency option with significant flexibility.
- UAE Work Authorization – Visa holders can engage in numerous business advantages throughout the country which includes Dubai.
- No Employer Sponsor Required – Unlike most work visas in other countries, the UAE Golden Visa does not require a sponsor. Hence qualified individuals can apply independently without needing a job in UAE or another sponsoring company.
- Access to UAE Healthcare – Residents of UAE and their families are provided with access to the healthcare system of the country. Golden visa holders gain access to the Esaad Privilege card which provides them discounts at major healthcare facilities.
Pricing for Dubai Golden Visa
Fees for getting a Dubai Golden Visa include investment and the cost of processing fees for a visa. Aside from the minimum investment of 2 Million Dirhams in real estate, there is an application and processing fee which ranges between AED 4000 – AED 5000.
Conclusion
Golden Visa comes across as one of the most lucrative residence options for professionals, entrepreneurs, and investors who look forward to working in the UAE. A strong tax regime, strong infrastructure, and world-class healthcare facilities make this opportunity more interesting.