The UAE Golden Visa is a residency program that was introduced in 2019 by the UAE government. It allows foreigners to obtain a long-term residency visa for up to 10 years, provided they meet certain criteria and make a significant investment in the country.
The Golden Visa is available for investors, entrepreneurs, talented individuals, and researchers in various fields, including:
- Real estate: Investors who purchase a property worth at least AED 1 million ($272,000) can apply for the Golden Visa.
- Business: Entrepreneurs who set up a business in the UAE can apply for the Golden Visa. They must have a minimum capital investment of AED 500,000 ($136,000) and the business must be innovative or contribute to the UAE's economy.
- Talent: Highly skilled professionals in various fields, such as science, medicine, engineering, and art, can apply for the Golden Visa. They must have a valid employment contract in the UAE and be endorsed by a government agency or accredited university.
- Researchers: Scientists and researchers who have a PhD degree from a recognized university and have published articles in reputable scientific journals can apply for the Golden Visa.
The benefits of the Golden Visa include:
- Residency: The Golden Visa grants long-term residency for up to 10 years, which can be renewed upon expiration.
- No sponsorship: Unlike other residency visas, the Golden Visa does not require a sponsor, which means that investors can live and work in the UAE independently.
- Family sponsorship: The Golden Visa also allows investors to sponsor their family members, including spouse, children, and parents.
- Ease of travel: The Golden Visa allows for ease of travel in and out of the UAE without the need for additional visas.
- No income tax: The UAE has no income tax, which means that investors can keep more of their earnings.
The Golden Visa program is part of the UAE's efforts to attract foreign investment and talent to the country. It has been well-received by investors and entrepreneurs who see the UAE as a favorable destination for business and lifestyle. If you are considering the Golden Visa, it is important to consult with a professional and ensure that you meet the eligibility criteria.