UAE’s Golden Residency Visa allows foreign nationals to stay, and work in any emirate
The UAE Golden Residency Visa for Investors is offering long-term residence visas for foreign nationals to stay and work in any of the seven emirates.
This visa will be issued for 5 years or 10 years depending on the categories for foreign nationals to stay, work and live in any of the seven emirates – Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain.
NewsTimes learns that the UAE Golden Residency visa for investors allows one to invest in public investments.
This allows the issuance of a ten-year self-sponsored residency permit for investors in public investments, without the need for a sponsor or host residing in the country.
The Golden Visa has the goal of attracting investors, entrepreneurs, specialized talents, researchers, scientists, doctors, and outstanding students with promising scientific abilities.
About the UAE Golden Visa
- Investors and business leaders, entrepreneurs and students from outside the UAE can enter the United Arab Emirates for a maximum of six months using a multiple-entry visa. After this, the visa will be converted into a 10-year Golden Visa.
- This visa can be obtained after getting a temporary visa for one month after which you will be required to convert your temporary visa to a Golden Visa during this period.
- Upon becoming a resident of the Golden Visa Program, one can sponsor their family (wife, children and parents)
- The resident can also own investment projects such as real estate, trade and industry.
Criteria to obtain the Golden Visa
To obtain this Golden Visa, you need to have a business idea or business plan that you wish to establish legally in the UAE.
You also need a letter from an investment fund approved in the UAE stating that there is a deposit of 2 million dirhams or a valid commercial or industrial license with the company’s incorporation contract with the investor.
You also need to invest in a new or existing company as a partner with shares of a minimum of AED 2 million, not financed by a loan.
On the other hand, you would have to get a letter from the Federal Tax Authority stating that you are the owner of a company that pays the government no less than 250,000 dirhams annually.
Real estate investors will need a letter from the Real Estate Registration Department in the relevant emirate stating that they own one or more properties whose value is not less than 2 million dirhams, stating that the property is not subject to a loan.
