Real estate investors always seek markets with high returns and stable economies. Dubai is a heaven for businessmen and real estate investors due to high rental yields, tax-free investment, and a consistently growing economy, making it an ideal place for real estate investment.
Also, did you know that you can also get the UAE Golden Visa, which allows you permanent residence and investment opportunities for ten years? The government of UAE provides maximum leverage to investors so that you can expand your portfolio and enjoy a safe, profitable, and growing business environment.
Here is a detailed guide on how to get a UAE Golden Visa. How can you apply? And what are the eligibility conditions? Let’s get started with “what is UAE Golden Visa.”
What is a Golden Visa UAE?
The Golden Visa UAE is an extended and renewable UAE residency visa for foreign experts, investors, and people with exceptional talents. This visa aims to attract talent and investment to the UAE.
On the other hand, foreigners will get access to greater opportunities and a chance to become a resident in the UAE for up to 10 years. After ten years, the visa can also be renewed.
The Golden Visa UAE is perfect for talented individuals looking for better healthcare, work, and investment opportunities for themselves and their families(by sponsoring them).
What are The Benefits of UAE Golden Visa?
A UAE Golden Visa offers you multiple benefits. Here are some of them.
Long-term Residency
Holders of the UAE Golden Visa can reside in the country for longer periods. These spans typically range from 5 to 10 years, depending on the category and conditions.
Access to Services
UAE Golden Visa holders have access to various services in the UAE, including healthcare, education, and employment opportunities.
Visa-Free Travel
Golden Visa holders enjoy visa-free travel to many countries. This makes it easier for them to conduct business internationally or travel for leisure purposes.
Family Sponsorship
Golden Visa holders can sponsor their immediate family members, including spouses, children, and sometimes parents, for residency in the UAE.
Investment Opportunities
The UAE Golden Visa is often linked to significant investments in the UAE, such as real estate investments, which can provide financial returns and potential business opportunities.
Tax Benefits
The UAE has a favorable tax environment. For example, no personal income tax makes it appealing for individuals looking to optimize their tax liabilities.
Stability and Security
The UAE is known for its political stability, robust infrastructure, and safe living environment, making it an attractive option for long-term residency.
Networking and Business Connections
Being based in the UAE provides access to a thriving business community, networking opportunities, and connections with international companies and investors.
Apart from that
- If you have a UAE Golden Visa, you don’t need a national backer.
- UAE Golden Visa holders can now get their UAE driving license without taking courses. They can avail of this option if they have a driving license issued by their home country. However, it is important to note that UAE Golden Visa holders can skip training, but they have to pass the necessary tests to obtain their driving licenses.
Who Can Apply for Golden Visa UAE?
According to the updated information, the following individuals can apply for UAE Golden Visa.
- Chief executives
- Medical doctors
- Real estate investors
- Investors
- Entrepreneurs
- University graduates with a 3.8 GPA or more
- Scientists, Ph.D. holders, and data experts
- Outstanding students (their families can apply)
The government of UAE has added the following to the list of people who can apply for UAE Golden Visa.
- Engineers from different fields, including biotechnology, programming, electronics, electricity, and computer science.
- UAE-based physicians
How to Apply for a UAE Golden Visa—Complete Process
There are two simple ways to apply for Golden Visa UAE.
1. Applying through ICP Smart Services
The first way to apply for Golden Visa UAE is through ICP smart services portal. This is an online and straightforward process. Simply submit the required documents and meet the conditions for relocating to the UAE.
2. Applying through GDRFA-Website and Mobile App
- Open the GDRFA Dubai Website.
- Select the Golden Visa service type based on your preference.
- Enter all the details in the application form and attach all the documents required.
- Pay the visa fees online
- Submit yourUAE golden visa application for approval.
Another way to apply for a Golden Visa is through the GDRFA mobile application. Here are the steps to follow:
- Download the GDRFA-Dubai Application for iOS or Android.
- Register a new user account if you don’t have one already.
- Select the Golden Visa service type based on your preference.
- Attach necessary documents.
- Pay the visa fees and send the request for approval.
UAE Golden Visa Rules Updates 2024
It is important to note the following additions/changes in UAE Golden Visa rules.
Revised Qualification Criteria
Investors can now qualify for the Golden Visa by owning a property valued at AED 2 million ($545,000) or more, regardless of the down payment amount and the property’s status (whether it is mortgaged, off-plan, or completed).
Removal of Minimum Down Payment
One significant update is the removal of the previous requirement for a minimum down payment of AED 1 million ($272,000) for property investments to qualify for the Golden Visa.
Extended 10-Year Residency
The Golden Visa, valid for 10 years and renewable under the same conditions, offers investors an extended period to become part of the UAE community and nurture their investments.
Increased Property Choices
This change allows investors who choose properties valued at AED 2 million ($545,000) or higher to obtain long-term residency in the UAE.
UAE Golden Visa Eligibility
Although the eligibility criteria for the UAE Golden Visa vary depending on the categories (discussed later in the article), here are some general eligibility requirements for the UAE Golden Visa.
The applicant must:
- Have a valid passport
- Be a non-UAE national
- Have no criminal background (clean criminal record).
What are UAE Golden Visa Eligibility Requirements?
Here are detailed eligibility criteria for the different categories of UAE Golden Visa.
How to Get a UAE Golden Visa for Public Investors (10 Years Validity)
As a public investor in an investment fund, you can apply for a Golden Visa without a sponsor if you meet the following eligibility criteria:
- You must submit a valid industrial or commercial license and a memorandum of association (MOA) noting that your investment capital is at least AED 2 Million. OR
- You must submit a letter from a UAE-accredited investment fund noting that you have a deposit of AED 2 million.
- You must submit a Federal Tax Authority letter stating that you pay the government at least AED 250,000 annually.
- Your investment capital should be owned entirely by you and should not be a loan.
- You must also provide proof of medical insurance for yourself and your family(if applicable).
How to Get a UAE Golden Visa for Real Estate Investors (10 Years Validity)
To be eligible for a UAE Golden Visa as a real estate investor, you must fulfill the following conditions:
- You must purchase one or more off-plan or completed property that is worth at least AED 2 million(must be purchased from a list of approved real estate companies), OR
- You must buy a property on the mortgage only from specified local banks.
- If you are following an installment plan, you should pay the developer or the bank at least 2 million AED of the property’s worth.
- You also need a NOC letter for the approval of the mortgage statement and visa application.
- You must be inside the UAE at the time of application.
- Your spouse can also participate in property, but you’ll need a marriage certificate attested by MOFA and translated legally to Arabic.
- Property investment with a partnership other than the spouse will not be eligible.
How to Get UAE Golden Visa For Entrepreneurs (5 Years Validity)
Eligibility
The applicant must have full or partial ownership of an economic venture or startup within the UAE.
Requirements
- An audit report verifying that your enterprise holds a value exceeding AED 500,000.
- Confirmation from a relevant UAE entity affirming that your venture contributes to economic development objectives or targets forward-looking industries
- An endorsement letter from an authorized body supporting your proposed business or project within the UAE
How to Get UAE Visa for Specialized Talents (10 Years Validity)
Eligibility
The applicant must be a professional in medicine, science, engineering, art, or other creative fields.
Requirements
- Scientists must have the Mohammed Bin Rashid Medal for Scientific Excellence or accreditation from the Emirates Scientists Council.
- Creative professionals require accreditation from the Ministry of Culture and Knowledge Development.
- Inventors should possess a valuable patent contributing to the UAE’s economy. Also, the patent must be approved by the Ministry of Economy.
- Exceptional talents must provide documentation of patents or scientific research published in a world-class journal.
Doctors and specialists must meet two of the below-mentioned criteria:
- A Ph.D. from a top 500 university (QS World University Ranking),
- A Ph.D. with 10 years of professional experience, awards or certificates in their field, significant contributions to scientific research, publications in respected journals, membership in relevant professional organizations, or specialization in UAE-prioritized areas.
How to Get UAE Golden Visa for Outstanding University Students (10 Years Validity)
Eligibility
In order to apply for this category, you must be a highly achieving student enrolled in a university rated A or B by the Ministry of Education.
Requirements
- Provide a letter from your university verifying a minimum cumulative GPA of 3.5 for A-class universities or 3.8 for B-class universities.
- Graduation should have occurred within the past two years.
If you are studying at a foreign university, you are eligible
- If your university ranks among the top 100 universities globally and
- You have maintained a GPA of at least 3.5.
Also, make sure that your graduation certificate is accredited by the UAE Ministry of Education.
How to Get UAE Golden Visa for Outstanding High School Students (5 Years Validity)
Eligibility
To qualify, you should be an outstanding student enrolled in a secondary school within the UAE, whether public or private.
Requirements
- Achieve a minimum score/grade of 95 percent.
- Obtain a letter of recommendation from the Ministry of Education.
How to Get UAE Golden Visa for Frontline Heroes (10 Years Validity)
Eligibility Criteria
This visa is available for healthcare professionals such as medical assistants, nurses, or pharmacists who demonstrate exceptional dedication during crises.
Requirements
- Letter of recommendation from the relevant authority in the applicant’s emirate.
How to Get UAE Golden Visa for Innovators in Humanitarian Work (10 Years Validity)
Eligibility
- The applicant must have a minimum of five years of experience with a regional or international organization, public interest institution, or civil association.
- Receipt of commendation letters for significant contributions to humanitarian efforts or
- Donation of at least AED2 million towards humanitarian causes
Requirements
- Letter of recommendation from a local competent authority or the Ministry of Community Development
- Copy of applicant’s bachelor’s degree or its equivalent
How to Get UAE Golden Visa for Exceptional Programmers/Coders
The UAE government has recently introduced a special Golden Visa category aimed at outstanding programmers/coders. To qualify, you must possess advanced coding skills and a demonstrated history of achievements. Additionally, you need to hold a valid work permit in the UAE.
Expansion of UAE Golden Visa Categories in Abu Dhabi
The Abu Dhabi administration has broadened the scope of Golden Visa categories available. Apart from the aforementioned criteria, individuals may also be eligible for a Golden Visa in Abu Dhabi if they fall into one of the following categories:
- Retired individuals receiving a monthly pension of at least AED 20,000.
- High-net-worth individuals with assets totaling at least AED 10 million.
- Members of investor or entrepreneur families who have collectively invested at least AED 10 million in Abu Dhabi.
How to Get UAE Golden Visa for Pakistanis?
Pakistanis can also apply for UAE Golden Visa in the following categories.
Public investor visa: Individuals from Pakistan can apply for a Golden Visa by investing at least AED 5 million in a public project within the UAE.
Real estate investor visa: Individuals from Pakistan have the opportunity to apply for a Golden Visa by purchasing property valued at a minimum of AED 2 million.
Exceptional talents visa: Individuals from Pakistan can apply for a Golden Visa if they possess exceptional skills in areas such as science, education, medicine, or sports.
Entrepreneur and startup owner visa: Individuals from Pakistan can apply for a Golden Visa by establishing or owning a business in the UAE that generates at least 10 jobs for Emirati nationals.
Skilled professional visa: Individuals from Pakistan can apply for a Golden Visa if they hold a bachelor’s degree or higher and have a minimum of 5 years of experience in their respective field.
Scientists visa: Individuals from Pakistan can apply for a Golden Visa if they are highly qualified scientists holding a PhD degree.
The detailed requirements are mentioned in the section above.
Benefits of UAE Golden Visa for Pakistanis
Pakistanis can enjoy the following benefits by obtaining a UAE Golden Visa.
- Golden Visa uae acts as a second passport for Pakistanis. it allows them to travel around the world more comfortably. They won’t have to apply for various visa applications when traveling abroad.
- UAE Golden Visa also allows Pakistanis to apply for foreign business visas with ease.
- Pakistani UAE Golden Visa holders can easily sponsor their immediate family members.
What is the Cost of a Golden Visa UAE?
The precise cost of the Golden Visa varies depending on the type of applicant. However, it can range between AED 2,800 and AED 3,800 for people who are in the UAE. If you’re applying from outside the UAE, you’ll have to pay anywhere between AED 3,800 to AED 4,800.
The process for visa approval includes the UAE immigration authority assessing your application with other relevant government departments. If your request is refused, you’ll be refunded partially.
In addition to the visa application cost, you’ll have to pay around AED 1,000 for an Emirates ID and a medical examination processing fee. You’ll also need UAE health insurance, which usually starts from AED 800.
If you’re a real estate investor, you must be inside the UAE to apply for a Golden Visa. For that, you’ll need an entry permit. The six-month entry permit will cost you AED 1,250. This will include costs for things like:
- Issuance fee (AED 1000)
- Application fee (AED 100)
- Smart services fee (AED 100)
- Electronic services fee (AED 28)
- ICP fee (AED 22)
Note: The costs are always subject to change depending on the most recent immigration policies, so make sure to always check official portals for the most recent information.
Validity of the Golden Visa UAE
The most recent development in the Golden Visa by the government is an increase in its validity period from 5 years to 10 years. This makes it a coveted option for people interested in moving to the UAE.
Other than the ten-year validity, Golden Visa holders can also stay outside UAE for over six months. This gives ex-pats plenty of time to check out options for residence in other countries without giving up on their Golden Visa. Not only that, the grace period after your Golden Visa expires is also extended from 30 days to 6 months.
Lastly, if the Golden Visa holder fails to renew or cancel their visa (or of their dependents) beyond the grace period, they must pay an overstay fine.
What is a Green Visa in UAE?
The Green Visa UAE is a permanent residency option available in the UAE. Green Visa UAE is particularly designed for freelancers, skilled professionals, business partners, and investors.
It grants a five-year residency in the UAE without the need for a sponsor. Below are the specific eligibility criteria for each category.
Freelancers
The applicant needs a permit from the Ministry of Human Resources and Emiratization (MoHRE). Additionally, they must demonstrate either an annual income of at least AED360,000/- for the past two years or provide evidence of financial stability.
Skilled Employees
The applicant must hold positions at the first, second, or third level under a valid employment contract, with a minimum monthly salary of AED15,000/-.
Investors or Partners
Approval from the Federal Authority for Identity, Citizenship, Customs & Ports Security (ICP) is required, along with a minimum investment of AED 1 million.
Final Words
The Golden Visa UAE is an excellent option for talented individuals and real estate investors looking to enjoy the perks of a better life in the UAE. If you’re a real estate investor, you should know that the Real Estate Market of UAE generates 5.5% of its overall gross domestic product.
Expanding your investment portfolio to a stable economy like Dubai will only mean better returns. Ultimately, this article will guide you thoroughly regarding how to get a UAE Golden Visa.