Golden Visa holders can stay outside the UAE for as long as they like without their visa being canceled. The Golden Visa scheme for ex-pats in the UAE has been updated with this and other key changes.
On April 18, the UAE government announced new entrance visas and residency permits, allowing visitors and long-term residents to choose from a variety of residency choices.
The release gave specifics on the duration of stay allowed for an individual in the UAE while completing the Golden Visa application process, as well as the number of family members and domestic workers they may be able to sponsor, as part of the Golden Visa update.
Here are the details:
Who is eligible for the Golden Visa?
The Golden Residence permit now covers a broader range of categories. The following people are eligible for the long-term 10-year residence permit, according to modifications to the Golden Residence Scheme:
1. Investors:
- Public investment
- Real estate investment
2. Entrepreneurs:
- Owners of registered successful start-ups
- Those who have an approved idea for a start-up
- Previous founders of a successful start-up that was sold inside or outside the UAE
3. Exceptional talents
- Culture and art
- Investors and innovators
- Sports
- Digital technology
- Other vital fields
4. Scientists and professionals
- Scientists
- Chief executive and senior officials
- Science professionals
- Engineering professionals
- Health professionals
- Education professionals
- Business and Administration professionals
- Information technology professionals
- Legal, social and cultural professionals
5. Outstanding students and graduates
- Best performing students in secondary schools
- Best graduates from UAE universities
- Graduates of the best 100 universities worldwide
6. Humanitarian pioneers
- Distinguished members of international and regional organisations
- Outstanding members of associations of public benefits
- Recipients of recognition awards in humanitarian fields
- Distinguished volunteers and sponsors of humanitarian efforts
7. Frontline heroes
- Frontline workers with extraordinary efforts during the COVID-19 pandemic
What advantages does the new Golden Visa offer?
These are the perks of the Golden visa, according to the amendments:
- Golden Residency holders are not limited in their ability to sponsor their family members, including their spouses, children, and support workers.
- The maximum time of stay outside the UAE is unrestricted in order to retain the Golden Residency valid.
- To proceed with residency issue, an e-visa valid for six months will be provided.
- In the event of the death of the original bearer of the Golden Visa, family members are permitted to remain in the UAE until the expiration of their visa.
- There is no need for a sponsor or an employer.
- A ten-year visa that can be renewed.
Criteria for the Golden Visa
The eligibility criteria varies depending on whatever category you are eligible for. As a result, if someone wants to apply for a Golden Residence, they must meet the following criteria.
Golden Residence for Scientists
- The Emirates Scientists Council must recommend them.
- The candidate must hold a Ph.D. or master’s degree in engineering, technology, life sciences, or natural sciences from one of the world’s top universities.
- The candidate should have a track record of significant research accomplishments.
Golden Residence for Professionals
- Applicants must have a valid job contract in the United Arab Emirates.
- According to the Ministry of Human Resources and Emiratisation categorization, you should be in the first or second occupational level.
- A bachelor’s degree or equivalent is required as a minimum educational level.
- The salary should not be less than Dh30,000 per month.
Golden Residence for Exceptional Talents
- It is given only on the basis of talent, independent of educational background, employment situation, a monthly wage, or professional level.
- It necessitates a federal or local government entity’s recommendation or approval.
Golden Residence for Real Estate Investors
- When purchasing a property worth at least Dh2 million, real estate investors can apply for a Golden Visa.
- When purchasing a home with a loan from a certain local bank, investors are also eligible for the Golden Visa.
- Investors can also get a Golden Visa if they acquire one or more off-plan properties from recognised local real estate companies for at least Dh2 million.
Golden Residence for Entrepreneurs
- An entrepreneur must own or be a partner in a start-up registered in the UAE under the small and medium businesses (SME) category, with annual revenues of at least Dh1 million.
- Obtaining approval for a start-up idea from an official business incubator (an organisation that assists start-ups or entrepreneurs in the development of their businesses), the Ministry of Economy, or the appropriate local authorities.
- If the individual was a co-founder of one of the co-founders of a previous project that was sold for at least Dh7 million. The Ministry must approve projects and proposals of the Economy or the appropriate municipal authorities.
Golden Visa for Outstanding Students and Graduates
- They must exhibit their academic accomplishment, which is measured by their grade point average (GPA).
- The year you graduated.
- The categorization or standing of the university.
