Golden Visa – Requirements and Categories (2024)

The UAE Golden Visa program stands as a beacon of opportunity for individuals seeking long-term residency and a host of exclusive benefits in the United Arab Emirates. Designed to attract investors, entrepreneurs, professionals, and their families, the Golden Visa offers unparalleled advantages that extend far beyond traditional residency options. Let’s delve into the requirements and categories of the UAE Golden Visa to understand how individuals can unlock its potential.

Understanding the Golden Visa

The Golden Visa is a transformative long-term residency program aimed at foreign talents, investors, and their families. It provides up to 10 years of residency and offers unique benefits such as property ownership rights, independence from local sponsorship, access to world-class healthcare and education, and tax-related advantages. This strategic initiative aims to attract skilled professionals and contribute to the UAE’s dynamic growth and global standing.

Eligibility Criteria

To be eligible for the coveted Golden Visa in the UAE, individuals must fall into specific categories. Here’s an overview of the eligibility criteria for each category:

1. Investors in Public Investments: To qualify for the UAE Golden Visa as an “Investor in Public Investments,” applicants must meet stringent financial criteria. This includes either making a minimum AED 2 million deposit in an accredited investment fund or investing the same amount in a commercial or industrial venture. Additionally, they must commit to an annual contribution of at least AED 250,000 to the government. Proof of full ownership of the investment without any loans and valid medical insurance coverage are also mandatory.
2. Real Estate Investors: This requires property ownership worth a minimum of AED 2 million, verified by the land department of the respective emirate. Additionally, documentation is necessary if the property was financed through an approved local bank loan, ensuring transparency and financial accountability in property investments.
3. Entrepreneurs: Applicants must demonstrate ownership of an innovative, risk-based technical or economic project. This entails verifying a project value of at least AED 500 through a UAE auditor and obtaining letters from relevant UAE authorities and an accredited business incubator confirming the project’s innovative nature.
4. Doctors and Scientists: Must obtain authorization from the UAE Ministry of Health and Prevention, while scientists need a recommendation from the Emirates Council of Scientists or an award from the Mohammed bin Rashid Medal for Scientific Excellence.
5. Inventors: Recommendation from the Ministry of Economy demonstrating that the patent significantly benefits the UAE economy.
6. Creative Professionals in Culture and Art: Approval from the local Department of Culture and Arts.
7. Executive Directors: Applicants for the Golden Visa under the executive directors category must possess an accredited higher education degree, along with a five-year experience letter in a managerial role. Additionally, they need to provide proof of earning at least AED 50,000 and a valid work contract, demonstrating their qualifications and commitment to their professional roles.
8. Athletes: A recommendation from the General Sports Authority or a local sports council is required.
9. Engineering and Science Specialists: Engineering and science specialists aiming for the Golden Visa must present a certified degree in their respective field along with a valid work contract.
10. High School Students: For high school students aiming for the Golden Visa, achieving a remarkable 95% grade in secondary school is imperative. Additionally, they must secure a recommendation from the Ministry of Education.
11. University Students: University students aspiring for the Golden Visa must graduate from a top 100 global university, maintaining a minimum GPA of 3.5. This requirement ensures that recipients of the visa are academically accomplished and poised for success in their chosen fields, with recent graduation within two years further emphasizing their current relevance and readiness.
12. Humanitarian Work Pioneers: Humanitarian work pioneers seeking the Golden Visa must demonstrate at least five years of dedicated service with a notable humanitarian organization. Furthermore, they must provide evidence of an appreciation award and a minimum funding of AED 2 million for humanitarian efforts.
13. Frontline Heroes: Frontline heroes eligible for the Golden Visa are those who have been recognized for their exceptional crisis management efforts, especially during challenging times such as the COVID-19 pandemic.

Application Process and Fees

The application process for the Golden Visa involves submitting relevant documents and meeting specific criteria based on the chosen category. Additionally, applicants must pay the residence permit fee and additional charges.

The UAE Golden Visa program offers a pathway to long-term residency and a plethora of exclusive benefits that position the UAE as an ideal destination for investors, entrepreneurs, professionals, and their families. By understanding the requirements and categories of the Golden Visa, individuals can navigate the application process and unlock the opportunities offered by this transformative program.

Contact Blackstone Business Consultancy for expert guidance and assistance in securing your Golden Visa in the UAE.