UAE is known for its love towards entrepreneurs. The number of business setups in Dubai is on a high because of the constant support the city and the entire country provides. From the best environment to do business and the infrastructures that make life in this country better, it’s literally a heaven. UAE has already proven as the best place to settle as expats around the world are migrating here.
Moreover, the world-class infrastructure, the skyscrapers that leave us mesmerized, and the safety that the country holds, this nation is probably the best dream that anyone could dream of. In 2019, UAE introduced a recent update that most of us know, Golden Visa. This was a revolution that has significantly attracted some of the great personalities to UAE.
Furthermore, it is possible to work and have a perfect life in UAE with a number of visas. The latest golden visa is an important pillar for people who wish to start a business setup in Dubai or to reside over here. In this blog, we are going to dwell deeper into the details of UAE Golden Visa 2024.
What is golden visa?
The UAE golden visa lets expats to reside over the country for 5 to 10 years with all the privileges that the governance provides. This is to attract business setup in Dubai and the entire country that helps investors to have a better life in the UAE. Country supports long term business settlements and this golden visa lets people to comfortably settle in the country.
The recently introduced golden visa program features three distinct categories as determined by the council of ministers: one for investors, another for entrepreneurs, and a third for individuals with special talents.
The revolution of UAE Golden Visa
In April 2022, the UAE unveiled its new visa residency program, offering investors the coveted Golden Visa upon purchasing properties valued at a minimum of Dh2 million. This initiative sparked a flurry of activity among Dubai residents, who either invested in new properties or consolidated existing ones to meet the eligibility criteria for the long-term residency Golden Visa.
The UAE’s ‘Golden Visa’ stands as an exclusive opportunity, granting foreign talent the privilege to reside, work, or pursue studies in the country. Beyond its exclusivity, the visa boasts a plethora of benefits. For instance, it provides a six-month entry visa with multiple entries, paving the way for the issuance of long-term, fully renewable residence visas valid for up to 10 years. One remarkable feature is its self-sponsorship option, eliminating the need for employment sponsorship. Moreover, holders can extend their stay outside the UAE beyond the typical six-month limit without jeopardizing their visa status. Additionally, they can sponsor family members, including partners and children, and employ an unlimited number of domestic helpers. This will eventually help to attract business setup in Dubai.
Abdulla Abdul Aziz Al Shamsi, the acting director-general of Abu Dhabi Investment Office (ADIO), emphasized how the UAE’s golden visa program is reshaping the landscape by facilitating access to high-growth opportunities within a world-class innovation ecosystem. This strategy mirrors similar initiatives in countries like Italy, Spain, and Austria.
By continually adapting and implementing innovative methods to attract investors, the UAE’s Golden Visa program serves as a pivotal tool in aligning with immigration regulations to allure private wealth, capital, and talent. Through this approach, the UAE reaffirms its commitment to fostering a dynamic and inclusive environment for economic growth and development.
Benefits of Golden Visa
The Golden Visa program in the UAE offers a multitude of benefits, including:
A Convenient Entry Process:
It begins with a six-month multiple entry visa, paving the way for the issuance of residency permits.
Long-Term Residency:
Holders can obtain a long-term residence visa that can be renewed every 10 years, providing stability and security for both the individual and their family.
Business Ownership:
The visa allows individuals the freedom to own and establish businesses in the UAE, fostering entrepreneurship and economic growth.
Family Sponsorship:
Holders can sponsor spouses and children of any age to live with them in the United Arab Emirates, ensuring family unity and cohesion.
Education Opportunities:
The program provides children access to world-class educational institutions in the UAE, opening doors to exceptional learning experiences.
Healthcare Access:
Holders can avail themselves of the UAE’s high-quality multispecialty healthcare services, ensuring the well-being of themselves and their families.
Flexible Stay Options:
Holders can stay outside the UAE for any length of time without jeopardizing their visa status, offering flexibility in travel and lifestyle choices.
Family Support in Times of Need:
In the unfortunate event of the primary holder’s passing, family members can still reside in the UAE until their permit expires, providing crucial support during difficult times.
Domestic Helper Sponsorship:
The program allows for the sponsorship of an indefinite number of domestic helpers, easing the burden of household responsibilities and enhancing quality of life.
Overall, the Golden Visa program in the UAE not only provides individuals with residency rights but also fosters a conducive environment for personal and professional growth, along with family well-being and support.
Conditions for getting a golden visa in UAE
The UAE visa is granted under the following conditions:
Scientists:
Must be accredited by the Emirates Scientists Council or hold the Mohammed Bin Rashid Medal for scientific excellence.
Creative Individuals in Art and Culture:
Must be accredited by the Ministry of Culture and Knowledge Development.
Investors:
Should possess a patent that adds value to the country’s economy, approved by the Ministry of Economy.
Executives:
Must either be owners of a leading and internationally recognized company or hold high academic achievements related to the same.
Specialists and Doctors:
Need to meet specific criteria:
- Hold a Ph.D. from any of the top 500 universities worldwide.
- Possess certificates or awards of excellence in their area of expertise.
- Have made contributions to major scientific research within their field.
- Have published books or articles relevant to their field of work.
- Be a member of an organization related to their field.
- Possess at least 10 years of professional experience in their field, along with a Ph.D. degree.
These conditions ensure that individuals granted the UAE visa contribute significantly to various sectors, including science, art, culture, investment, and healthcare, thereby enriching the country’s socio-economic landscape.
Conclusion
We have discussed the major details about the golden visa in UAE. It’s truly a good opportunity for business setup in Dubai and for people who love to settle over here. If you want to grab the golden visa easily, contact Marqueway. We will help you with the rest.