Golden Visa UAE: Everything You Need to Know

Imagine kickstarting the business of your dreams in a luxurious foreign city with yearlong sunshine and beautiful beaches.

Sound good?

Imagine if that foreign city didn’t make you pay tax.

Even better!

Want to know the best part? You don’t have to imagine. That’s what’s on offer in the United Arab Emirates. The only catch is that to stay in the country long-term you’ll need a UAE Golden Visa.

What’s a Golden Visa in the UAE?

We’ve prepared this guide to answer all your questions about the United Arab Emirate’s prestigious Golden Visa. Read on to find out how you could live the dream in reality.

What Is the Golden Visa in the UAE?

Unlike many other international Visa programs, the United Arab Emirates’ unique Golden Visa program allows eligible individuals permanent residence with a 10 year visa. However, it also comes with a range of attractive privileges that most typical residence visa programs would not offer.

Launched in 2019, the famous Golden Visa program functioned as a bid to attract and retain foreign talent with permanent residence in a tax-friendly environment. The program also aimed to foster business development to boost the UAE’s economy.

It worked.

By late 2021, 44,000 Dubai residents had secured long-term residency through the Golden Visa. The program may also form part of the reason the UAE fared so well through the pandemic. The program has certainly bolstered the UAE’s global standing as an attractive place to live, work and kickstart new businesses.

The Golden Visa program specifically aims to attract budding entrepreneurs, investors and talented individuals in specific fields. Medical staff, engineers, researchers and even high-achieving university students can be eligible for the program.

Golden Visa Residency is applicable for ten years. In some situations, the visas can also be renewed automatically – a handy feature for those who struggle with the endless monotony of bureaucracy. Features like this prove that the UAE government wants to make the visa application process simple. Anyone who’s ever applied for a foreign visa will know how painful these processes can sometimes be.

Benefits of a UAE Golden Visa

As its name suggests, the Golden Visa program is the gold standard of long-term residence visas. The UAE government has worked hard to ensure the program has enough perks to attract the best of the best from around the globe. Although, the year-round sunshine, ultra-modern infrastructure and stunning beaches couldn’t hurt.

1) You Don’t Need a Local Sponsor

Golden Visa holders do not need to obtain a local sponsor to live, study and work in the UAE.

To those unfamiliar with common residency processes around the world, this may not sound like a big deal. However, those who are familiar will know how time-consuming and complex obtaining a local sponsor can be. This complexity is often compounded if you aren’t employed by a local company or you don’t know any nationals from the country in which you are trying to secure a residence visa.

Not needing a national sponsor to obtain a Golden Visa takes a large degree of complexity out of applying for residency in the UAE. All the more reason to apply!

2) You Can Own 100% of Your Business

Another major benefit of the Golden Visa is that visa holders can own 100% of a business operating out of the UAE.

This is a big deal.

Before the introduction of the Golden Visa program, foreigners seeking to start a business in the UAE needed to partner with an Emirati national, who will own a percentage of the company. There were exceptions for certain industries located in specific zones.

The Golden Visa removes these logistical barriers for eligible foreign entrepreneurs, business owners and investors.

3) You Can Add Other People to Your Visa

If you secure a visa through the UAE’s Golden Visa program, you do not need to go through all the hassle of obtaining visas for your family members or key businesses associates. If you obtain a Golden Visa, you can add your family members to it. You can also add business partners or associates to the visa, subject to some specific conditions.

If you have a partner or kids travelling with you to the UAE, this particular feature of the Golden Visa program could save you a lot of paperwork. It could also prevent your family from being separated.

4) You Can Travel Freely to and from the UAE

Gold Visa holders can travel to and from the UAE as many times as they want. In this regard, having a Golden Visa is like being a UAE citizen. Visit friends and family back home or schedule as many overseas business meetings as you like. There are no limits – you’re free to go!

Additional benefits for Golden Visa Holders in different Emirates

Golden Visa programs in different Emirates offer a variety of benefits to you and your family members across various sectors. When looking to apply for citizenship its important to consider all visa options.

Dubai

• Golden Visa holders in Dubai may be granted an Esaad privilege card depending on the category they fall under. This card is granted, cost free, to people who Golden Visas in Dubai
• Foreign residents in Dubai who hold a driving license from another country and hold a Golden Visa can take a UAE driver’s license test without the need for UAE specific lessons.
• If Golden Visa holders have a licence from one of 32 approved countries, they will be eligible for a UAE driver’s licence automatically.
• If you are an exceptional foreign student in Dubai, you and your family may be granted a 10 year residency visa. Expatriate students who fall into this category may also be given discount to international universities throughout Dubai.

Abu Dhabi

• In Abu Dhabi, residents with golden visas are entitled to numerous offers and discounts on real estate, health, hospitality, cars, insurances, and banking services. This is due to the partnerships the Resident’s Office has across these industries.
• Due to the Abu Dhabi Resident’s Office commercial partnerships, holders of the Golden Visa in Abu Dhabi will be entitled to discounts on selected properties from real estate developer, Imkan Properties.
• Numerous Banks, including Abu Dhabi Commercial Bank and First Abu Dhabi Bank, are offering Golden Visa investors in real estate a reduction on mortgage fixed-interest rates. They are also offering non-real estate investors attractive interest rates on savings accounts.
• Golden Visa holders in Abu Dhabi will get special deals on Gymnasiums, spas and stays at selected hospitality
• Golden Visa holders will be eligible for discounts on cars and will receive priority booking for new releases, as well as special payment facilities, maintenance offers and licensing services.
• Another major benefit offered to Golden Visa holders in Abu Dhabi will be entitlement to reduced premiums on annual health insurance packages for families and individuals.

Am I Eligible for a UAE Golden Visa? 

The UAE government recently expanded its eligibility criteria for the Golden Visa, making the program even more accessible to all kinds of people around the world.

However, it’s worth noting that the goal of the Golden Visa program is to foster business development. The UAE government is seeking people of a particular calibre to boost the economy and build a skilled workforce. As such, the criteria for the Golden Visa is still highly specific.

If you do not fall into any of the specified categories or you cannot meet the specified conditions for your particular category, it’s unlikely your Golden Visa application will be approved.

The following are the major groups eligible to apply for residency in the UAE under the Golden Visa program:

• Investors 
• Owners of specialised talents and researchers in various fields of science and knowledge
• High-level executives
• Athletes
• Specialists in the fields of engineering and science
• Creative people and people of culture and art
• Inventors
• Outstanding students
• Healthcare Workers
• Tech Experts
• Pioneers of Humanitarian Work

Individuals applying for the Golden Visa under each of those categories will have to meet different conditions and criteria to be successful. The next section will discuss some of these requirements.

Applying for a Golden Visa in UAE 

The Golden Visa application process will vary according to your profession and the category under which you are applying. We’ll discuss the specific requirements for each professional category in the next section. However, the basic steps you’ll need to follow to apply for a UAE Golden Visa are as follows:

• Identify the category under which you want to apply and prepare the application form and relevant documentation
• Submit the documentation and pay the relevant fees
• Wait for contact regarding whether your application has been successful or not, which can take up to 30 days
• If you are successful and have a current UAE visa, cancel it
• Submit your Golden Visa application and passport, after which your new visa will be inserted into your passport

Who Can Apply for a UAE Golden Visa?

How do you know if you can apply for a UAE Golden Visa? In this section, we’ll take a look at the various requirements individuals from each professional category will need to meet to obtain one.

Investors

Property Investors

Requirements

• Minimum down payment of AED 1 million removed.
• Mortgaged and off-plan properties qualify if there is significant progress in development.
• Properties bought for less than AED 2 million can qualify if their current value is now at least AED 2 million.

Investor in an investment fund (commercial investor)

Requirements

• Company audit (financial report for the previous year)
• Licence copy and the partners’ list (commercial-industrial)
• Residence photo
• Company account statement for the last 3 months (VAT returns)

Note:

• Only accepted licences are from the Emirate of Dubai (commercial or industrial only)
• If the licence is from free zones or special development zones, it is required to bring a ‘To Whom It May Concern Certificate’ from the relevant free zone authorities

Investor in an investment fund (deposit) 

Requirements

• A letter from the bank with the deposit in Arabic. A note must be mentioned that the deposit will not be broken until after two years, and if it’s broken, the deposit will be reported to the General Directorate of Residency and Foreigners Affairs – Dubai
• Residence photo
• Rental lease
• Occupation when applying – not specified

Investor in an investment fund (tax return investor) 

Requirements

• A letter from the Federal Tax Authority
• A copy of the licence and the partners’ list
• Residence photo
• Occupation when applying – not specified
• Given profession – investor

Owners of Specialised Talents and Researchers In Fields of Science and Knowledge

Doctors

Requirements

• Certificate of practicing a profession in Arabic from Health Authority – Ministry of Health – Dubai Healthcare City
• A copy of the labour card from the Ministry of Human Resources and Emiratisation or a contract work certified by one of the bodies under The General Directorate of Residency and Foreigners Affairs and free zones
• A photo of the residence
• Occupation when applying – according to the licence certificate
• The profession granted – as per the licence

Healthcare Workers

Requirements:

• Recognised for their service during crises such as the COVID-19 pandemic.
• Includes doctors, nurses, and other frontline medical professionals.
• Must provide relevant certification and proof of their professional contributions and recognition.

Scientists

Requirements

• Recommendation letter from the Emirates Scientists Council or a letter from the Secretariat of Sheikh Mohammed bin Rashid Al Maktoum Award for Academic Excellence as Recipient of the Medal of Scientific Excellence
• A copy of the passport
• Occupation when applying – not specified

Creative people and people of culture and art

Requirements

• Recommendation letter from the Culture and Arts Authority
• A copy of the passport
• Occupation when applying – not specified
• The profession awarded as per the letter of recommendation

Inventors

Requirements

• Recommendation letter from the Ministry of Economy
• A copy of the passport
• Occupation when applying – not specified
• The profession awarded as per the letter of recommendation

High-level Executives (General Manager – Executive Director – Chairman of the Board of Directors)

Requirements

• Company NOC letter regarding the golden visa, and it is mentioned in the letter the term of service is 5 years as a general manager – executive director – Chairman of the Board of Directors
• Bachelor’s degree or higher (certificate certified by The Ministry of Education)
• A monthly salary certificate of AED 30,000 thousand or more
• Work contract with the same profession and salary
• Personal account statement for 6 months
• Occupation upon application – General Manager – Executive Director – Chairman of the Board of Directors.
• Profession awarded – Executive Director

Athletes

Requirements

• Recommendation letter from one of the sports councils or the General Authority for Sports
• A copy of the passport
• Occupation upon application – not specified
• Profession Awarded – the profession is defined as per the letter of recommendation

Specialists in the fields of engineering and science

Requirements

• A Bachelor’s degree or higher certified or degree equivalency letter from the Ministry of Education (in case the certificate is from an outside country)
• A copy of the residence
• Employment contract for a profession in one of the following specialisations: Epidemiology Viruses, Artificial Intelligence, Big Data, Computer Engineering – Electronics Engineering – Software Engineering – Electrical Engineering, Genetic Engineering, Biotechnology Engineering
• Profession when applying – according to the approved major, higher.
• Awarded Profession – The profession is determined by specialisation.

Outstanding Students

High School Students

Requirements:

• National-level topper with a minimum grade of 95% in public or private secondary school.
• Must submit a recommendation letter from the Ministry of Education (Emirates Schools Establishment).

Eligible for a 5-year Golden Visa without a sponsor, extendable if enrolled in a major requiring more than five years of study.

University Students

Requirements:

Local Universities

• Must be rated A or B class by the Ministry of Education.
• Submit a recommendation letter, accredited graduation certificate, or academic record with a cumulative GPA of at least 3.5 for A class universities and 3.8 for B class universities.
• Graduation within the last two years.

Foreign Universities:

• Must be among the top 100 globally, according to the Ministry of Education.
• Cumulative GPA of at least 3.5.
• Graduation within the last two years.
• Graduation certificate accredited by the Ministry of Education.

Eligible students are granted a 10-year Golden Visa without a sponsor.

Tech Experts

Requirements:

• Recognised computer programmers and tech professionals.
• Must have support or partnerships with global tech giants like Google, Facebook, and Amazon.
• Must provide documentation of their professional achievements and endorsements from these major tech companies.

Pioneers of Humanitarian Work

Requirements:

• Must have worked for international or regional organisations for a minimum of five years.
• Must have worked for civil associations or institutions of public interest for a minimum of five years.
• Must have received an appreciation award from a local, regional, or international organisation focused on humanitarian work.
• Funders of humanitarian work must provide support valued at no less than two million UAE dirhams or its equivalent.

Kickstart Your New Life With a Golden Visa in the UAE

Want to take advantage of the UAE’s yearlong sunshine, luxurious lifestyle and lucrative business opportunities? With 10 year visa options a Golden Visa in the UAE might just be your golden ticket!

If you think you might be eligible for a UAE Golden Visa, now is the time to make your move and begin exploring the idea. Get in touch with one of our company formation experts in Dubai. We’ll show you how easy it can be to obtain a Golden Visa and establish a business in the UAE with our Virtuzone process.