Golden Visa in the UAE

In honor of the two-year anniversary of Antwort Law's office in the UAE, we continue our series of informative articles on life and law in the Emirates. Today we will talk about the Golden Visa - a unique opportunity for foreign citizens to obtain long-term residency in this dynamically developing country.

The Golden Visa in the UAE was introduced in 2019 to attract foreign investors, entrepreneurs, professionals in various fields and gifted students to live and work in the country with minimal bureaucratic obstacles. In this article, Antwort Law will take a detailed look at all aspects of the Golden Visa, including the pros and cons, requirements, cost, application process, and offer tips and tricks for successfully obtaining this visa.

Golden Visa is a special type of long-term resident visa that provides a full-fledged opportunity to live, work, study in the UAE for a period of 5 or 10 years with the function of automatic extension, subject to compliance with the conditions of its acquisition, with a number of obvious advantages:

1) The owner of a Golden Visa can travel abroad for more than 6 months, while maintaining the status of a resident. Also, after its expiration, if the visa holder did not want to extend it, then he can stay in the country for another 6 months.

2) Visa holders can reside in the UAE without the need for employer sponsorship

3) It is possible to sponsor family members, including spouses and children regardless of age and an unlimited number of household helpers. There is also an option for family members to stay in the country until the visa expires, even if the main owner has died.

4) All tax benefits are available, including no personal income tax and no capital gains tax

However, the Golden Visa requires significant investment or proof of high qualifications, so it is not suitable for everyone, but only for the following categories of persons:

Investors:

You can get a Golden Visa for a period of 10 years if, as an investor, you meet one of the following conditions:

- invested more than 2 million AED in an investment fund (a letter from an accredited investment fund in the UAE confirming the availability of a deposit in this amount is provided);

- established a company with a registered capital of 2 million AED (a valid commercial or industrial license and a founding agreement are provided, confirming that the investor's capital is at least 2 million AED);

- have invested at least AED 250,000 annually in the UAE economy (a letter from the Federal Tax Authority is provided).

At the same time, you must:

- fully own investment capital, which must be a loan;

- provide proof of medical insurance for yourself and your family.

Real estate investors:

If you own real estate or a group of real estate objects, you can get a Golden Visa for a period of 5 years, if you, as an investor, fulfill one of the following conditions:

- purchased real estate worth at least 2 million AED (a letter from the land department of the relevant emirate confirming the ownership of this real estate is provided)

- purchased real estate with a loan from certain local banks approved by the competent local authority.

Entrepreneurs:

If you are an entrepreneur and own an economic project of a technical or future nature, based on risks and innovations, you can get a Golden Visa for 5 years if you have all the following evidence:

- letters from an auditor in the UAE confirming that the project cost is not less than AED 500,000.

- letters from the authorities of the emirate confirming that the project is of a technical or future nature.

- letters from an accredited business incubator to the UAE for the establishment of the proposed activity in the country.

Outstanding talents:

People in certain professions with outstanding talents can get a Golden Visa for 10 years. Here is a list of professions and relevant documents that are the basis for submitting an application:

Doctors and scientists:

– Letter of approval from the UAE Ministry of Health and Prevention for doctors.

- A letter of recommendation from the UAE Council of Scientists or a letter from the Secretariat of the Mohammed bin Rashid Prize for Scholars

Creative people in the field of culture and art:

- Letter of approval from the department of culture and arts of the relevant emirate.

Inventors:

- A letter of recommendation from the Ministry of Economy confirming that your patent has added value for the country's economy.

Leaders:

- A copy of a university diploma accredited by the Ministry of Education, with a level of education not lower than a bachelor's degree;

- a letter confirming work experience of at least 5 years in a similar position;

- a salary certificate with an amount of at least 50,000 AED;

- Valid employment contract.

Athletes:

- Letter of recommendation from the General Directorate for Sports Affairs or one of the sports councils.

Gifted students:

- If you are a school student and are a national leader in performance (with a minimum score of 95% in public or private school), you can get a Golden Visa for 5 years with a letter of recommendation from the Ministry of Education.

Gifted university students:

- The university must be classified as class A or B by the Ministry of Education;

- Submission of a letter of recommendation from the university or an accredited diploma/academic record confirming that your average score is not lower than 3.5 for class A universities and 3.8 for class B universities;

- No more than 2 years have passed since your graduation.

Pioneers of humanitarian activities:

- Members and outstanding employees of international and regional organizations with a minimum work experience of 5 years;

- Members and outstanding employees of public associations and institutions of public interest with a minimum work experience of 5 years;

- Persons who have received awards from a local, regional or international organization engaged in humanitarian activities;

- Financiers of humanitarian activities with a support amount of at least 2 million AED or equivalent.

Heroes of the front line:

- Frontline heroes who have shown outstanding efforts in crisis situations, such as the COVID-19 pandemic, can receive a Golden Visa on the recommendation of a competent authority. These include nurses, medical assistants, laboratory assistants, pharmacologists and other personnel approved by the Office of Frontline Heroes.

The Golden Visa application is submitted through official government portals. Regarding obtaining a visa to Dubai, it is necessary to contact the General Directorate of Residence and Foreign Affairs of Dubai (GDRFAD). For other emirates, you should contact the Federal Authority for Identification, Citizenship, Customs and Port Security (ICP) or UAE embassies and consulates.

The cost of issuing a Golden Visa may vary depending on the category of the applicant and includes the following expenses:

- Government fees: about 4,000–7,000 AED for processing the application and issuing the visa.

- Medical examinations: a mandatory medical examination, the cost of which can be about 700 AED.

- Documents and translations: additional expenses for notarial translations and legalization of documents.

Golden Visa in the UAE provides unique opportunities for long-term residence and business in the country. If you fit into one of the categories and are ready to invest time and resources in the process of obtaining a visa, this can be a significant step towards new opportunities. International company Antwort Law is ready to provide you with full legal support and assistance at every stage of obtaining a Golden Visa. Contact us for professional advice and start your journey to a successful life and work in the UAE.

Lidia Ivanova

International lawyer
Antwort Law