The UAE government has announced the expansion of its golden visa scheme. Previously, only holders of certain types of work visas could apply for residency in the country. Now, anyone with a job offer, investment offer, or business setup in Dubai can apply for a golden visa.
Business Setup Consultants in Dubai work on behalf of their clients to ensure they are able to meet all the requirements of this new scheme. They can also assist with any other issues relating to setting up a business in the UAE, including working out how much money you need to start your venture and establishing what kind of license you may need.
What is the Golden Visa Scheme?
The Golden Visa Scheme is a new initiative by the UAE government that allows investors to come to the country and live here indefinitely. With this visa, you can work or study in the United Arab Emirates (UAE) without being required to leave once your contract ends. You also don’t need any additional residency documents like a permanent residency card or green card, which makes it easier for people who are already living outside of the UAE but want an easy way back into their home country.
The benefits of this type of program include:
- An unlimited stay in the country; no limit on how long you can stay there before returning home again
- No requirement for any kind of work permit from either side during this time period – so long as all taxes are paid on time every month during those months when they’re working abroad (this means paying tax at source) then everything should go smoothly!
What are the Eligibility Requirements for UAE’s Golden Visa Scheme?
The investor must be a citizen of a country that has a visa-waiver agreement with the UAE.
The investor must be over 18 years old and meet all other requirements to receive their Golden Visa, including having an annual income of at least AED 1,836,492.50 per year and having an investment account in any one of the banks.
The Expansion of the Golden Visa Scheme in UAE.
The UAE government has announced the expansion of its golden visa scheme.
The new program, which was first announced in 2017, aims to attract investors from around the world who want to live in Dubai or Abu Dhabi on a permanent basis.
The new program will allow non-UAE residents to obtain residence visas in exchange for investment in real estate projects that are being developed by local developers and approved by authorities at the federal level.
How Can you Get a UAE Golden Visa?
You can apply for a UAE golden visa at any time. The application process is simple: you need to submit your application and pay the fee, then wait for it to be processed. Once it’s been approved, you’ll receive an email from immigration informing you that your visa has been issued and when it will arrive in the mail. You can then travel on this newly issued golden visa (which lasts five years) or renew it after three months if needed by paying another when they expire.
The scheme will be available for Emirati and foreign nationals with special skills and qualifications that are not available in other countries. The list of skills and qualifications includes:
1. Golden Visa for Scientists
The Golden Visa for Scientists is a new program that allows foreign nationals from countries with low rates of immigration to work, to Business Setup in Dubai, or live in the UAE. It also offers tax relief, social welfare benefits, healthcare coverage, and more.
The program has two different phases:
- Phase 1: To obtain a visa or residence permit for immediate family members (spouse/children under 18 years old) who are employed or self-employed in any field related to science – including research institutions, research laboratories, government departments, schools, universities, etc.;
- Phase 2: To obtain visas for other family members who are not employed but have similar qualifications as those above (e.g., Ph.D. students).
2) Golden Visa for Exceptional Talents
The UAE’s Golden Visa scheme is not just for the rich and famous. You can also get a golden visa if you are an exceptional talent, with a minimum investment of Dh2.5m.
What does that mean? A “talent” is someone who has unique skills or experience in their field of expertise and who would be able to contribute greatly to the UAE economy by helping grow its businesses. This includes people from all over the world—but most importantly: It doesn’t matter how long ago they were born (or where they live).
3) Golden Visa for professionals
The Golden Visa for professionals is available to individuals who have a job offer from a company in UAE and have a minimum salary of AED 20,000 per month. You must also have at least five years’ experience working in your field of expertise.
The application process involves submitting documents such as a passport, CV, and recommendation letters from previous employers or colleagues. Once approved, the applicant can apply for permanent residency within two years after their first visit to the country.
4) Golden Visa for entrepreneurs
The Golden Visa for entrepreneurs is a new scheme that was launched by the UAE government. It allows entrepreneurs who invest at least AED 3 million in the local economy to apply for a residence visa and work permit.
To qualify, you must have:
- A minimum net worth of up to Dh2.5m or
- A minimum annual salary of at least AED100,000; or
- Assets valued at more than AED 3,673,025.00 (during your first five years as an entrepreneur).
5) Golden Visa for Real Estate Investors
The second type of Golden Visa is for real estate investors. This visa is valid for 10 years and can be renewed for another 10 years. The investor must make an investment in an approved project or property, worth at least $500,000 (Dh2.5m).
The investor needs to register with the Federal Migration Agency (FMA) within 30 days after purchasing the property and submit their application form within 90 days of making their first payment on the project or property. They must also apply for a residential permit from the Dubai Municipality if they wish to live in Dubai during their stay on this visa program
6) Golden Visa for Humanitarian Pioneers
The UAE government has announced the expansion of its golden visa scheme. The scheme will now include a new category for humanitarian pioneers. This is a new category of residency visas for those who have made a significant contribution to the UAE’s society and economy.
This move was welcomed by many countries in the region, including India and Pakistan where people are looking forward to getting Golden Residency visas after making a significant contribution to their country’s economy (India) or social sector (Pakistan).
Read More: Top 10 Business Setup Ideas for Beginners in Dubai
The UAE’s Golden Visa Scheme has been expanded and will now include a new Passport Stamp, to be valid for a period of five years. The stamp is good for traveling to the UAE, for new visa applications, or for re-entry into the country.
We hope that this guide has helped you understand the golden visa scheme and what it can do for you. We know how important it is to have an educated decision about whether or not this is the right type of program for your situation, so we encourage anyone wanting more information on this subject to reach out!