UAE Golden Visa for 10 years Residency will be given to Engineers, PhD holders, physicians as well as graduates from UAE accredited universities with a GPA(Grade Point Average) of 3.8 and above. The change will apply from 1st December 2020.
Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, launch the golden card facilities for long-term residency programme in May, 2019. Immediately its launch, more than 400 businessmen and investors, including some of their families get the visa. And dozens more receiving it each day.
HH Sheikh Mohammed update that 6,800 investors and residents having estimated worth Dh100 billion. And from 70 countries, were selected for this visa.
Who is eligible for the golden card?
In May 2019, the UAE Cabinet approved 10-year golden visas for five categories of expatriates: entrepreneurs, investors, outstanding students, chief executives and scientists.
The UAE on Sunday(15-11-2020) approves 10 years golden visa for more professionals to keep the talented people and great mind in the Gulf country and assist the nation building.
His highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai update this by a series of tweets.
“Brothers and sisters, we approved today a decision to grant the 10-year golden visa to residents in the following categories: all PhD holders, all physicians, engineers in the fields of computer engineering, electronics, programming, electricity and biotechnology, graduates from UAE accredited universities who scored Grade Point Average, GPA, of 3.8 and above,” he said in a tweet.
In another tweet, Sheikh Mohammed tweeted, “This is the first batch and it will be followed by other categories. We want talented people and great minds to stay in the UAE and join us in the process of development and achievements.,”
You can get UAE Golden Visa, If you be engineer for:
- Computer science
You are also eligible to get golden visa if you are specialist in:
- Artificial Intelligence
- Big data
What will be the charges for the 10 year UAE Golden Visa?
The golden visa UAE price for 10 year will be AED 1,150. Also, this amount includes AED 150 for application cost and AED 1000 for issuance.
What are the Benefit of UAE Golden Visa?
- With the help of UAE Golden Visa individuals can stay in the country for 10 years, and however, they can renew the visa as well.
- It will allow a person to get jobs, work and do business in the UAE within 10 years of time span.
- Good news that there will be no minimum requirement for staying in the UAE and Golden card holders can travel freely,
- If you will have the golden visa, your family can come & visit you or even they can get their own Golden Residency Visa.
How to apply UAE Golden Visa?
The Federal Authority for Identity and Citizenship has launched the electronic platform (https://business.goldenvisa.ae) for applying for business visa. Which is a part of the Golden Visa system. Scientists, Professionals, entrepreneurs around the world are welcome for the golden visa.
However, applicants can submit their official documents of their projects with the website for obtaining the golden visa. The government authorities will review the applications and attached documents to ensure that they fulfil the required conditions.
Below are the steps:
- Apply for the Nomination: Though, you can start applying for the nomination. Your application will be reviewed by the government authorities within 30 days. And you will get an email with the final result.
- Upload documents: Once your nomination will be approved. You will get a link by mail to upload the necessary documents for the visa.
- Receive your Golden Visa: Your application and documents will be verified by the Federal Authority for identity and Citizenship. And finally you will receive your visa.
What requirements must foreign investors meet?
One of the below conditions must be fulfilled:
- Dh10 million as deposit as an investment fund in the UAE.
- The owner of a company must have Dh10m in capital or a partner in a company with a share of up to Dh10 Million.
However, all of the below conditions must satisfy:
- All the investment fund must be fully owned. It must not get through a loan and they need to submit proof to the authorities for the same.
- The investment should be made for at least three years.
- The investor needs to provide a comprehensive insurance document for themselves and their family.
What are the requirements for entrepreneurs?
- An individual must own a successful project worth Dh500,000 or more in a certified field in the UAE.
- The person must have approval as a certified business incubator who founded the project in the UAE.
- Individual need to provide a comprehensive health insurance document for themselves and their family.
What will happen if my business will fail in 10 years of the golden visa?
Maj Gen Mohammad Al Marri, Director General of the General Directorate of Residency and Foreigners Affairs inform that if investors decline in their worth or their business fail within 10 years of the golden visa. Then authorities will check the things on a case-to-case basis.
Other countries have launch similar programs that seek to boost their economies such as Saudi Arabia and Qatar.
Riyadh informs in June 2019 that it will offer permanent residency for $213,000 (800,000 riyals). And one year renewable residency with cost $27,000 (100,000 riyals). This allows expats to do business and buy property without a Saudi sponsor.
Meanwhile, Doha has recently open its property market to foreigners. This scheme giving options for purchasing homes or stores and the right for longer term or permanent residency permits.
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