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Since its launch in 2019, the UAE’s highly sought-after Golden Visa has been awarded to thousands of investors, professionals, students and entrepreneurs.
According to the General Directorate of Residency and Foreigners Affairs (GDRFA) in Dubai, the issuance of golden visas increased by 52% in the first half of 2023. As of November 2022, the Emirate of Dubai has issued more than 150,000 golden visas to Dubai. Qualified home buyers, investors, professionals and others.
The 10-year visa offers various advantages to the holder, including the issuance of residence permits for family members including spouse and children. The age limit for sponsored children has been raised from 18 to 25 years old, while there is no age limit for unmarried daughters. Residence permits are issued to determined children regardless of their age. In addition, there is no limit on the number of sponsored domestic migrant workers, the golden residence permit remains valid, and there is no limit on the maximum period of stay outside the UAE.
Professionals working in healthcare, media, IT and other industries with a monthly salary of Dh30,000 or above are eligible for the golden visa.
However, for certain categories of people, employment is not required to apply for the 10-year visa. Here are five of them:
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Home buyers: UAE residents and foreign investors who purchase one or more properties with a total value of AED 2 million and above can apply for a golden visa. This includes off-plan and existing properties in the country.
In a major announcement, Dubai has removed the Dh1 million down payment requirement for home buyers to qualify for the 10-year visa. However, the total property value should still be AED 2 million and above to meet the eligibility criteria.
Cash deposit: High net worth individuals can deposit Dh2 million in a local bank for a period of two years to qualify for this prestigious visa. Many local banks in the country are offering assistance to those who opt for this scheme.
entrepreneur: Administrative regulations impose flexible requirements for entrepreneurs to qualify for Golden Residency. Entrepreneurs should own or partner in a new start-up company registered in the country under the Small and Medium Enterprises (SME) category and have an annual revenue of not less than AED 1 million.
In addition, if the person is the founder or one of the founders of previously sold entrepreneurial projects with a total value of not less than AED 7 million, he/she will be entitled to a prime residence. Projects or ideas require approval from the Ministry of Economic Affairs or local authorities.
Scientists and researchers: Based on the recommendation of the UAE Council of Scientists, Golden Visa residency is granted to scientists and researchers who have achieved significant achievements and influence in their fields. Candidates should possess a PhD or Master’s degree in engineering, technology, life sciences and natural science disciplines from one of the best universities in the world, as well as a substantial body of research.
outstanding student: Outstanding students from UAE secondary schools, outstanding graduates from UAE universities and the world’s top 100 universities can apply for a 10-year visa. Specific criteria include academic performance (cumulative average), year of graduation and university classification.
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