UAE GOLDEN VISA OF 5 AND 10 YEARS (requirements, eligibility, and price)

UAE’s Long-term residence “Golden Visa” offers 5 and 10 years visas to different professionals.

UAE is now open widely for many professionals from around the globe. The most awaited visa residency program is there. Here you will know all about it, categories, price, and eligibility requirements one by one.

Last year, the UAE announced a new system for long-term resident visas, which will allow foreigners to live, work, and study in the UAE without the need for any national sponsorship. These visas will be renewed automatically.

UAE widens 10-year residency ‘golden’ visa eligibility. Yes, the good news is there now as more and more professionals will be able to apply for UAE’s 10 years “Golden Visa” residency, visa-guru.com and Reuters report.

The UAE’s vice president announced in November that the Golden Visa residency will now be open for more professionals such as:

• doctorate degrees
• medical doctors
• computer engineers
• electronics engineers
• programming engineers
• electrical engineers
• biotechnology engineers
• artificial intelligence (specialized degree)
• big data epidemiology (specialized degree)
• and also high school students living in the UAE who rank top in the country and students from certain universities with a GPA of 3.8 or higher

Golden Visa for all these categories also benefits spouses and children as they can stay with the main applicants in the UAE.

In the UAE, there must be a valid employment contract for each category in the priority sector. Holders of Golden Visas will receive 100% of their business ships on UAE soil. These visas will be issued for 5 or 10 years.

The UAE Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum said the UAE would expand its “Golden Visa” system- with provides 5 and 10-year residency in UAE to certain professionals, investors, entrepreneur, researchers and students.

1- Eligibility criteria for a 5-year visa

For 5 years visa, categories are:

• Entrepreneurs
• Talented Students
• Property investors

i- Entrepreneurs

Entrepreneurs who want to get a 5-year golden visa in the UAE must have an existing project with the minimum amount of AED 500,000 or those who have obtained approval for a recognized business incubator in the state. The trader is allowed a multi-entry visa for six months, which is renewable for another six months. Long-term visas include a spouse and children, a partner, and three executives.

ii- Talented Students

Outstanding students who want to obtain 5 years UAE golden visa must meet the following requirements:

• University students within and outside the country who have a minimum GPA (Grade Point Average) of at least 3.75 upon graduation.
• Talented students with at least 95% grade in public and private secondary schools

iii- Property investors

• You have to retain your property for at least three years.
• The invented amount in real estate must not be on a loan basis.
• If you want to invest in property the minimum amount is AED 5 million.

2- Eligibility criteria for a 10-year visa

The candidates who want to obtain the UAE golden visa for 10 years can see the requirements given below;

i- Public investments

• Invest in at least AED 10 million public investments.
• Establishing a company in the UAE with a capital of not less than AED 10 million
• Participate in an existing or new company with a share value not less than AED 10 million
• Mention a total investment of not less than AE 10 million in all areas, provided that the investment in real estate is not less than 60% of the total investment.
• Deposit of at least AED 10 million in the domestic investment fund

There are many important points one must remember in order to do public investments in the UAE. The amount invested should not be borrowed. The investment should be maintained for at least three years. The candidate must have a financial salvage of up to AED10 million. Visas can be extended to include business partners, provided that each partner contributes AED 10 million. Long-term visas can include a spouse and children, as well as an executive director and an advisor. Investors from abroad can apply for more than one entry permit for a period of six months.

Required documents to be submitted are as follows:

• Dependent passport (required)
• Colored photo (required)
• Additional attachment no 6 (optional)
• Additional attachment no 7 (optional)
• Additional attachment no 8 (optional)
• Additional attachment no 9 (optional)
• Additional attachment no 10 (optional)
• Bank letter to proof deposit (optional) (3 years bank deposit of 10,000,000 aed)
• Attested company establishment contract (optional) (a share of 10,000,000 aed proof or 6,000,000 if there is another real estate investment worth 6,000,000 aed)
• Certified financial auditing company report (optional) (to prove that the investments are not loaned or mortgaged)
• Real estate registration department (optional) (to prove that the real estate is not loaned or mortgaged)

ii- People with outstanding talent

These people are from fields of science and knowledge such as doctors, specialists, scientists, inventors, as well as creative people in the field of culture and art.  In the UAE, there must be a valid employment contract for all categories in the priority sector. The candidate can obtain this visa under the following conditions:

1-As mentioned above this type of golden visa is specialized for talented people. Keep in mind the specialists and doctors have to reach two points from the below-given categories.

• Ph.D. degree from one of the world’s top 500 universities
• The applicant has membership in an organization related to his field
• Participate in major scientific research in the field of work
• Specialization in preference areas of the UAE
• Ph. D degree holders with ten years of professional experience in his department
• Have Published articles or scientific books in leading publications in the field of work
• If you have an award or certificate of appreciation in the applicant’s field of work

2- Executives must own a well-known and internationally recognized company or hold a higher academic achievement and position.

3- Extraordinary abilities must be documented through patent or scientific research published in a world-class journal.

4- The inventors must obtain a price patent, which adds to the UAE’s economy. Approval of patents by the Ministry of Economy is required.

5- Scientists should be recognized by the UAE Council of Scientists or by the holders of the Muhammad bin Rashid Medal for Scientific Excellence.

6-Creative people in culture and art should be recognized through the Ministry of Culture and Knowledge Development.

Golden Visa Processing Timings

For all these visas, the processing timings are almost 6 months. The visas are for multiple entries.

Cost/Price of the Golden Visa

The Gloden Visa price is altogether AED 1,150. Whereas the cost/price/fees of visa types such as entrepreneurs, special students, talented persons, and Investors are distributed as under:

Pathway of Business Golden Visa

Applicants for a Golden Visa can submit official documents of their plans through the website. Relevant government agencies may review applications and attachments to ensure that they meet the requirements. The Federal Authority for Identity and Citizenship has launched an electronic platform for applying for business visas (https://business.goldenvisa.ae), which is part of the Golden Visa system. Professionals with business experience from around the world are eligible to apply for a business visa to set up their business in the UAE.

Contact in case of any query For any visa inquiries, please contact the Federal Authority for Identity and Citizenship (ICA) at the toll-free number 600522222 or through the ICA’s feedback platform. If you are abroad, check with UAE Embassies and consulates Dubai Visa A, if you are living in UAE, contact Amir Service on toll-free number 800 5111. If you are outside the UAE, call Amir on toll-free number + 9714-313-9999.