Golden Visa is an initiative taken by the government of UAE to attract investors, businessmen, and skilled professionals from all around the world. Here I will guide you on how to apply for Golden Visa in UAE
A golden visa, also known as a “golden passport”, means gaining citizenship in exchange for real estate investment. It is a form of investment-based immigration where one gets permanent residency or citizenship by making an investment that helps the economy and job market of the country allowing them.
How to apply for Golden Visa in UAE?
Since the beginning of 2012, The Government of Dubai has launched a program called General Directorate of Residency and Foreigner’s Affairs and Services (GDRFA&SS) to offer residence visas and citizenship in exchange for investing in a property that worth more than AED 500,000.
If you looking to invest then the Golden Visa program is the best option. The five-year residence permit under-investment visa program, allows the applicant and his or her family members (husband/wife and unmarried dependent children) to reside in UAE for five years and enjoy similar advantages to the residence cardholders.
The UAE has introduced two types of Golden Visas:
- 10-year permit
- 5-year permit
You can obtain a 10-Year permit only by purchasing real estate for AED 5 million or more. You can purchase one property or several properties that total a value of AED 5 million or more. Once you have purchased your property you can apply for your 10 Year Golden Visa.
You can obtain a 5-year permit by investing AED 10 million or more in any business in the UAE. This type of permit is granted to owners and their families (spouse and children).
Who Can Get a Golden Visa?
Golden Visa is a temporary residence visa valid for 5 years or 10 years. This is a UAE residency visa for investors, entrepreneurs, and specialists in certain fields. It will provide you with a convenient solution for the business environment that you can easily use to manage your work and business activities with various government institutions in the UAE.
There are three different categories of applicants who are eligible to apply:
- Investors: investors who have invested more than Dh10 million ($2.7 million) in an investment fund or publicly traded companies in the UAE.
- Entrepreneurs: entrepreneurs who have established a startup or business in the UAE and have received funding from a government entity or accelerator program in the country.
- Specialists: specialists such as doctors, engineers, researchers, innovators, and others with exceptional talents who qualify for this category.
- You must be over 18 years old when you apply for your visa with one of these qualifications.
If you do not meet these requirements, you may still be able to apply for residency through other immigration routes such as marriage, family sponsorship, employment sponsorship, or even international education opportunities.
Required Documents for Golden Visa in UAE
Golden Visa in UAE is available for investors with a large amount of money to spend. The process is simple, however, there are a number of documents you will need to provide.
Some of the required documents for a Golden Visa in UAE include:
- A letter of intent to invest in the UAE
- An amount of no less than AED 10 million invested in a company or business
- Proof of deposit in a bank account owned by you outside the UAE and held for at least one year prior to your application
- A copy of your passport
- A copy of your proof of address
- A letter from your bank confirming your investment is genuine and that it has been held in your bank account outside the UAE for one year prior to the application date.
How to Apply for Golden Visa in UAE?
The UAE Golden Visa is the permanent residency visa given to investors in the country. This visa allows investors and their families to live and work in the UAE without any immigration restrictions. Foreigners can get this visa by investing in a real estate property worth AED 1 million or more. The golden visa has a validity of 5 years and can be renewed every five years.
1. Golden Visa Application Form
The first step to getting the UAE visa is to fill up the application form. The form is available online and can be filled up by visiting the EDNRD website. As you fill the same, make sure that you upload all the required documents. The form will ask for your name, passport number, contact details, as well as your investment portfolio.
2. Submitting the Application
Once you have filled up the application form and submitted it online, you will need to pay a certain amount of processing fees and submit it at any of the authorized agents or banks in Dubai or UAE. Make sure that you pay attention to all the terms and conditions mentioned in order to avoid any confusion later on. Keep a track of your application status by logging into your account on the EDNRD website through which you applied for the visa.
3. Receiving Your Golden Residency Permit
Once your application has been approved and processed, you will receive an email from EDNRD confirming the same along with a copy of your golden residency permit/visa. You can then proceed to get it stamped onto your passport from any of the immigration centers in Dubai or UAE on an appointment basis only.
How Long Does the Nomination Process Take?
The process of getting nominated for a Golden Visa takes around 4-6 weeks from the time you submit your application. In some cases, the whole process can take longer so be sure to plan accordingly.
The first thing to do is to start collecting all the paperwork you need for your nomination application. You’ll need a bank certificate, medical certificate, and a police clearance certificate from your home country. You’ll also need to get a copy of your passport and three passport photos. These documents will be submitted with your application form, which you can get at any of the General Directorate of Residency and Foreigner Affairs (GDRFA) Immigration departments in Dubai or Sharjah.
According to the law, an application for a Golden Visa must be processed within 30 days. However, in practice, it takes between two and three months.
In conclusion, a Golden Visa in UAE is a great investment opportunity that any investor should consider. Although the procedure for obtaining your golden visa can be quite tedious, it’s worth it in the end. From fantastic wealth creation opportunities to a variety of benefits available only to Golden Visa holders, the process is worthwhile.
If you want to apply for a Golden visa in UAE, you will first have to fulfill a number of requirements. Some of these are not mandatory and can be overlooked, however, others play an essential role in attaining a Golden visa. The main requirement is, of course, having a property worth at least AED 500,000. In addition, you also need to obtain health insurance and obtain either an employment permit or residency visa with at least one year remaining.