What is the UAE Golden Visa and How You Can Get One in 2024
The UAE Golden Visa is a long-term residence visa introduced by the United Arab Emirates in 2019. This initiative aims to attract and retain top talents, investors, entrepreneurs, researchers, and outstanding students by offering them a long-term residence permit in the country. The visa provides its holders with the opportunity to live, work, and study in the UAE without the need for a national sponsor and with 100% ownership of their business on the UAE mainland.
Key Features of the UAE Golden Visa:
- Validity: The Golden Visa can be granted for 5 or 10 years and is renewable.
- Eligibility: Categories eligible include investors, entrepreneurs, specialized talents, researchers, and outstanding students.
- Benefits: Visa holders enjoy extended residency, the ability to sponsor family members, and the potential for full business ownership.
Eligibility Criteria for the UAE Golden Visa in 2024
1. Investors:
- Real Estate: Investors must own property worth at least AED 2 million.
- Business: An investment in a business in the UAE valued at AED 10 million or more is required.
2. Entrepreneurs:
- Must own or be a partner in a start-up registered in the UAE in the field of technology or other strategic sectors.
- Alternatively, they can have an approved business plan or be part of an existing project with a minimum capital of AED 500,000.
3. Specialized Talents and Researchers:
- Professionals in fields such as medicine, science, research, and technology.
- Must have a valid employment contract in a specialized field of priority in the UAE.
4. Outstanding Students:
- High school students with a minimum grade of 95% from public or private schools.
- University students within and outside the UAE who have a GPA of 3.8 or higher.
How to Apply for the UAE Golden Visa
- Prepare Documents: Gather all necessary documents such as passports, proof of investment or business ownership, academic records, and employment contracts.
- Submit Application: Applications can be submitted through the Federal Authority for Identity and Citizenship (ICA) or the Dubai General Directorate of Residency and Foreigners Affairs (GDRFA) portals.
- Wait for Approval: The approval process involves thorough verification of documents and eligibility.
- Receive Visa: Once approved, you will receive your Golden Visa and can start enjoying the benefits.
Frequently Asked Questions about the UAE Golden Visa
1. What are the benefits of the UAE Golden Visa?
The Golden Visa offers extended residency, the ability to sponsor family members, and the potential for 100% business ownership on the UAE mainland. It provides security and stability for long-term residents.
2. Who is eligible for the UAE Golden Visa?
Eligibility extends to investors, entrepreneurs, specialized talents, researchers, and outstanding students who meet specific criteria related to their field and contributions.
3. How long does it take to get the UAE Golden Visa?
The processing time varies but generally takes several weeks to a few months, depending on the completeness of the application and the thoroughness of the verification process.
4. Can family members of the Golden Visa holder also stay in the UAE?
Yes, the Golden Visa allows the holder to sponsor their spouse, children, and, in some cases, parents, enabling them to live, study, and work in the UAE.
5. Is the Golden Visa renewable?
Yes, the UAE Golden Visa is renewable. Holders can renew their visa for another term as long as they continue to meet the eligibility criteria.
6. Can I own a business with a Golden Visa?
Yes, Golden Visa holders can own 100% of their business on the UAE mainland, eliminating the need for a local sponsor.
7. What happens if I no longer meet the eligibility criteria?
If you no longer meet the eligibility criteria, you may be required to transition to a different visa type or leave the UAE, depending on the specific circumstances.
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