In the futuristic-inspired land of the United Arab Emirates, an ingenious initiative known as the "Golden Visa" has recently been unveiled by the government. This visa program has captured global attention and has been highlighted as an initiative geared towards attracting and retaining exceptional talent from across the world, offering a 10-year residency visa to eligible individuals. Meaning, that one would be required to meet a specific criterion that includes having investments in private business ventures, possessing a high level of education with a unique skill set, or owning/investing in properties within the emirates.
The Golden Visa has proven to be a beacon of hope for entrepreneurs, providing them with the opportunity to establish businesses in the UAE and secure long-term residency without the constraints of visa renewals or sponsorships. This newfound stability allows entrepreneurs and business owners alike to focus on nurturing their ventures and expanding their horizons without worrying about visa complexities.
For investors, the Golden Visa opened doors to a world of possibilities, offering them the chance to confidently invest in the UAE with the security of a long-term residency visa without the constraints of having to permanently reside in the country. Particularly appealing to those eyeing to engage in the growing real estate market, it provides the assurance of a stable residency while exploring alternative investment and lifestyle opportunities.
The Golden Visa transformed lives by how we do business and bolstered the UAE's position as a global hub for trade, innovation, and entrepreneurship. The UAE continues to attract top talent, and nurture businesses with unique and effective initiatives whilst enriching the nation's cultural tapestry. The Golden Visa is not just a visa; it's a golden opportunity that illuminates a path to success, freedom, and prosperity for those who dare to dream in the land of endless possibilities.
What Is a UAE Golden Visa?
The UAE Golden Visa, alternatively referred to as the Dubai Golden Visa, is an extended residency visa enabling investors and individuals from foreign countries to reside, study, and work, in the UAE. Investors, entrepreneurs, scientists, outstanding students and graduates, humanitarian pioneers, and frontline heroes are among those eligible for the Golden Visa.
Why is it beneficial to you?
Long-Term Residency:
Holders receive up to a 10-year renewable residency visa, which provides stability, and security and reduces the burden of frequent visa renewals.
Extended Stay outside the UAE: There is no limit to how long you can remain outside the UAE whilst keeping your Visa active. With the 10-year investor Visa, you can stay abroad for over six months without having to return to the UAE within the usual six-month time time-frame for those who do not hold a Golden Visa.
Sponsorship Rights:
Golden Visa holders can sponsor their families, enabling them to reside in the UAE including sponsoring their parents with a 10-year Visa.
Access to Top Education and Healthcare: Holders benefit from access to quality educational institutions and medical facilities.
Business Opportunities:
Entrepreneurs and investors can leverage the Golden Visa to expand their businesses and explore new opportunities.
Streamlined Immigration Procedures:
The Golden Visa simplifies the immigration process, reducing hurdles, long waiting lines, and document-related technicalities.
Networking Opportunities:
Living in the UAE connects Golden Visa holders with a diverse network of professionals, markets, technology, and experts.
Cultural Enrichment:
Immersing oneself in the rich culture and traditions of the UAE enhances personal growth and understanding.
Real Estate Investor Criteria
To obtain a UAE Golden Visa through real estate investment, investors in Dubai must meet specific criteria outlined by the UAE government. Here are the key points that you need to know:
Property Valuation:
The property purchased must have a minimum value of AED 2,000,000 determined exclusively by the Dubai Land Department (DLD).
Investment Duration:
Investors are required to maintain the investment in real estate for at least 2 years to be eligible for the Golden Visa.
Recent Amendments:
The recent changes in January 2024 have significantly lowered barriers to obtaining the Golden Visa. Off-plan property investments now require a Non-Objection Certificate (NOC) from the developer, mortgaged properties need an NOC from the bank, and property valuation is based on the current market value determined by the DLD.
Fees:
The total fees for a 10-year residency permit include various costs such as medical examination fees, UAE ID fees, confirmation of residency permit fees, Land Department fees, and administrative fees.
Benefits:
The UAE Golden Visa allows investors and their families to move to the UAE, visit the country anytime they wish, and reside in the UAE without obligation. It also provides access to good healthcare and educational facilities.
These criteria and recent changes reflect a more flexible framework aimed at attracting a broader spectrum of investors to Dubai and the UAE through real estate investments while simplifying the application process for the Golden Visa program.
Required Documents for Investors in Dubai
To apply for a Golden Visa for investors in Dubai, you will need to provide the following documents:
● Passport
● E-Certificate of Title/Title Deed
● Personal Photo
● UAE ID (if available)
● Copy of the current residence permit (if applicable)
Application Process for Dubai’s Golden Visa
The application process for Dubai's Golden Visa for investors involves the following steps:
Eligibility Check: Ensure you meet the criteria for investors, which typically include investing a minimum amount in the UAE.
Document Preparation: Cielo will assist you in setting up and obtaining the required documents for the Golden Visa.
The Process:
1. Online Application
2. Complete the application form accurately with the required information.
3. Attach all necessary documents to your application.
4. Fee Payment: The required fees during the application process total a cost of AED 9,700 for a ten years Residency Permit (cost breakdown available on request).
5. Processing Time: 7 - 10 business days
6. Track Application: Monitor your application status on the ICP Smart Services platform.
7. Visa Collection: If approved, collect your Emirates ID card from an Emirates Card Collection Centre.
CIELO - Your Bridge to Securing a Successful Future
We provide comprehensive assistance throughout the entire process from the purchase of property, and its transfer, to obtaining your residency. Our team of experts will guide you seamlessly through the intricacies of the application, medical insurance, and relevant laws and protocols to ensure that all necessary paperwork is meticulously prepared, submitted, and delivered.
Trust CIELO to navigate the complexities of the Golden Visa application, making your journey toward UAE residency and property investment a seamless and successful experience.