What Is UAE Golden Visa, And Who Is Eligible To Apply?
- Author :
- TATA AIG Team
- ●
- Last Updated On :
- 27/05/2024
The UAE (United Arab Emirates) plans to launch 50 new initiatives in a bid to boost the country's global standing and competitiveness in industrial development. A few of these initiatives involved tech-based projects hoping to attract foreign residents and skilled workers to the country.
One more important addition to this is the introduction of the Golden Visa. So, what is UAE's golden visa? It's a special visa status afforded to specific individuals who can stay in the country for an extended period. More so than regular visa holders.
What Is The Golden Visa In UAE?
UAE’s golden visa means it's a long-term visa that allows foreign residents and expatriates to live, work and study in the UAE for 5 to 10 years. The golden residency status is reserved for people who fall under specific categories, including foreign investors or skilled workers. This visa can also be renewed.
This program was launched to attract foreign investments into the UAE to boost the country's position as a global hub for international business and investments. In addition, this visa offers several benefits to its holders, like access to the best healthcare, education and the ability to sponsor other family members for residence visas.
For those interested in travelling to this country short term or long term, having travel insurance will significantly benefit them. Travelling insurance ensures that you are covered for any emergencies. It also acts as a vote of confidence to embassies to show that you can financially support your stay in the country.
Golden Visa UAE Eligibility Criteria
The golden visa UAE requirements will vary according to the type of residence and profession, like investors, skilled professionals, students, etc.
| Residence Type | Eligibility Requirements/Documents Needed |
|---|---|
| Public Investors | An accredited letter from an investment fund in the UAE stating the investor has a deposit of AED two million, or A valid industrial or commercial licence and a memorandum of the association stating the investor's capital is not less than AED 2 million. A Federal Tax Authority letter stating the investor has paid the government of UAE no less than AED 250,000 (two hundred and fifty thousand) annually. Note: You need to own the invested capital fully; it can not be a loan. You might also need to provide proof of medical insurance for you and your family. |
| Real Estate Investors | Owning a property or a group of properties can get you a golden visa of 5 years, which can also be renewed. A provision letter from the Emirate's land department stating that you own one or more properties. Their value should not be less than 2 million dirhams. Purchasing a property with a loan from any local bank approved by the local authorities. |
| Entrepreneurs | A UAE auditor stating the project value is not less than 500,000 dirhams
The emirate authorities stating the project is of a technical or futuristic nature. An accredited business incubator in the UAE should establish the proposed activity/business, |
| Executive Directors | A copy of a university degree not less than a Bachelor's accredited by the Ministry of Education. A letter of experience with at least 5 years of holding the same position A salary certificate with a minimum salary of AED 50,000. A valid work contract. |
| Doctors And Scientists | For Doctors: A Ministry of Health and Prevention approval letter from the UAE to practise medicine. A recommendation letter from the Emirates Council of Scientists. For Scientists: A recommendation letter from the Secretariat of the Mohammed bin Rashid Medal for Scientific Excellence. The letter must state that the applicant has been awarded the Medal of Scientific Excellence. |
| Specialists In Engineering And Science | Copy of Bachelor's or Master's degree accredited by the Ministry of Education and a valid work contract |
| Creative People In The Fields Of Culture And Art | A Department Of Culture And Arts approval letter from the respective Emirate. |
| Athletes | A General Sports Authority recommendation letter or a letter from one of the sports councils |
| Outstanding High School Students (National-Level Topper With A Minimum Grade Of 95% In Public Or Private Secondary School) | A Ministry of Education (Emirates Schools Establishment) recommendation letter. |
| University Students | A recommendation letter from the university or a certified graduation certificate. The Ministry of Education must rate the university an A or B class.
Or an academic record submitted stating that the student's cumulative GPA is not less than: 3.5 for A-class universities. 3.8 for B-class universities. It should not be more than 2 years since you graduated.
For Outstanding Students: The university should be rated among the best 100 universities globally, according to the Ministry of Education. Cumulative GPA is not less than 3.5. It should not be more than 2 years since you graduated. A graduation certificate accredited by the Ministry of Education. |
| Pioneers Of Humanitarian Work | Members/outstanding employees who have worked for at least five years for either:
International and/or regional organisations. Civil associations and/or institutions of public interest. People who have received an appreciation award from a local, regional or international organisation for their humanitarian work. Funders of humanitarian work who've contributed not less than AED 2 million or its equivalent. |
| Frontline Heroes (Includes Nurses, Lab Technicians, Medical Assistants, Pharmacologists And Others Approved By The Frontline Heroes Office) | Recommendation letter from a competent authority |
How To Get A UAE Golden Visa?
So now that you know what is a golden visa in UAE, let's get into how you can get one. Interested applicants can apply through the Federal Authority of Identity and Citizenship (ICA) or the General Directorate Of Residency And Foreign Affairs (GDRFA).
The ICA offers only online applications, but the GDRFA allows for both online and offline/in-person applications.
Furthermore, the application prices will vary according to the type of golden visa. So applicants applying from within the UAE will be charged between AED 2,800 and AED 3,800. Applicants applying outside the country will be charged between AED 3,800 and AED 4,800.
Applying through the ICA:
Visit the official ICA website.
Choose your preferred golden visa application service.
Fill out the visa application form.
Upload the required documents and pay the fees to submit the visa application.
If you are an applicant from outside the UAE, the ICA has an entry permit (of 6 months) that you must first apply for. This permit can be extended for an additional 6 months to complete your golden visa application process.
Applying Through GDRFA
Visit the GDRFA Dubai website.
Choose your appropriate golden visa application type.
Fill out the visa application form.
Upload the required documents, pay the fees and click submit.
Applicants can also do this process through their official mobile app. After downloading the app and registering for a new account, the process remains the same. For the offline/in-person application process, applicants can only do this through the AMER Center.
Conclusion
The golden visa UAE's increased validity is an attractive feature for many expatriates and people wanting to immigrate or work in Emirates cities. Golden visa holders are also eligible for multiple entry visas to complete the application processes for golden visas.
So, if you are planning a trip to the UAE, make sure you have an international travel insurance plan. It is a mandatory requirement to obtain a UAE Visa from India. Besides, having a travel insurance policy before a foreign trip is crucial. With Tata AIG's travel insurance, you not only get health insurance in a foreign land and other benefits but also get flight cancellation insurance.
Disclaimer
Information last updated Aug 23. While this information is sourced reliably, visa requirements can change. For the most current visa details, visit the official Consulate/Embassy website.
Disclaimer / TnC
Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.
