The UAE is an ideal place for living and business due to many factors. Firstly, the UAE has a peaceful environment with a negligible crime rate. Secondly, the UAE environment is liberal, allowing a great extent of freedom for residents in their personal lives. Thirdly, the UAE offers many economic opportunities for business.
Yet, obtaining a nationality is close to impossible in the UAE for the nationals of other countries. However, the UAE offers a long-term residency option for investors and business people in the form of a Golden Visa.
In this post, you’ll know everything about the Golden Visa, and steps required to obtain it. So, pay attention and read everything.
What is the UAE Golden Visa?
The UAE government started its long-term residency visa program a few years ago, named UAE Golden Visa, which provides a permanent residency status to the holder. Also, the Golden Visa allows the holder to completely immerse in Emirati society.
When you have the Golden Visa, you can live, study, work, and invest in the UAE without limitations or restrictions.
Generally, starting a business in the UAE mainland requires a local sponsor who holds a significant amount of share in the business. But when you have the Golden Visa, you can start your business in the UAE mainland with 100% ownership status.
Benefits of the UAE Golden Visa
- Financial and economic opportunities
- Corporate tax advantages
- Business-friendly environment
- Absence of personal income tax
- Long-term residency
- Access to high-quality education
- Access to high-quality healthcare
- No full-time residency restriction
- Essad privilege card
Eligibility Requirements for the UAE Golden Visa
A Golden Visa applicant must fulfill these requirements.
- Must invest 2 million AED or more in a property in the UAE for a 10-year investor visa.
- Must invest 500,000 AED in a project in the UAE for a 5-year entrepreneurial visa.
- Applicant must be at least 18 years old.
- Primary applicant must include certain family members in the application for a long-term visa
- Applicants must provide the proof of medical insurance for themselves and their family members.
Application Process for the UAE Golden Visa
There are six steps in the application process.
- You start the due diligence process by submitting your documents to the Emirati Authority. A Certified Anti-Money Laundering officer examines it. During the process, everything remains confidential.
- When you have passed the due diligence, your legal expert applies for the visa. At this stage, you have to submit your original papers. You get a 6-month visa for fulfilling requirements, including real estate exploration, medical checkups, and commencing your Golden Visa application.
- In the third step, you can finalize your property acquisition options. This step can also be completed without a physical visit using experts.
- The fourth step requires you and your family members to go through a medical checkup in a UAE clinic.
- When you have bought a property and completed the medical checkup, you can commence your Golden Visa application.
- After applying for a Golden Visa, your application can be approved within 5 to 7 days. If authorities have any questions, you have to submit answers within 30 days. But keep in mind that your application approval can take up to 2 months.
Required Documents for the UAE Golden Visa
- Passport
- Birth Certificates
- Marriage Certificate
- Certificate of Non-Marriage for Children Over 18
- Certificate of No Criminal Record
- UAE Good Conduct Certificate
- Medical Insurance
- One Photo per Applicant
- Current UAE Visa
Fees and Processing Time for the UAE Golden Visa
The processing time for the UAE Golden Visa does not take more than 2 months.
As an investor, you have to secure a property worth a minimum of 2 million AED, along with nominal visa fees. You’ll get a 10-year visa.
As an entrepreneur, you have to invest at least 500000 AED in any UAE business or start your own business. You’ll get a 5-year visa.
Wrap Up
A UAE Golden Visa can open a new world of economic opportunities for you in a business-friendly and peaceful environment.
It’s recommended to opt for an investor visa. Yet, if you don’t want to invest 2 million AED in one go, then choosing an entrepreneur visa is the best option for you.
If you want more details and require consultancy, Jaxtox is here to help. Feel free to contact us. Have a great day.
