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Last modified on 12th July 2023. Dubai Real Estate Blog
The UAE is one of the top destinations in the world. For this reason, many foreign investors, professionals, and entrepreneurs look for ways to establish themselves in the UAE. Therefore, the UAE Government has launched several initiatives to attract top talent to boost the economy. One of these initiatives is the UAE Golden Visa, implemented in 2019. Its purpose is to offer long-term residence visas for individuals and retain talented people in the country. Individuals who meet the eligibility criteria can now apply easily by eliminating the restriction of needing a sponsor.
The Golden Visa is a legal document that grants long-term residency to foreigners. The UAE has several visa schemes so that individuals can apply for the most convenient.
However, the most interesting aspect of the UAE golden visa is that it offers residency for 5 to 10 years. This is highly appealing to foreigners that want to live in the UAE and don't want to worry about renewals so often.
The government outlined a number of conditions that have to be met to qualify for a golden visa. In order to apply for this Golden visa, you need to be from one of the following categories of residents:
Recently, the UAE Authorities added some categories to the Golden Visa to expand the eligibility:
With the UAE Golden Visa, the individual can receive the following benefits:
In addition to all the standard benefits mentioned above and according to the Roads and Transport Authority (RTA) in the UAE, Golden Visa holders can now get a driving license in Dubai without the need for training if they already have a license issued by their home country.
The authority said Golden Visa Holders could skip training, but they will have to complete the knowledge and road tests.
UAE Golden Visa Holders, to get a new driving license, a citizen or a resident needs to apply to a registered driving institute in the related emirate to attend driving training classes and pass all tests (if required). After finishing all classes and passing all tests, the applicant can get a new driving license valid for 2 years for citizens, GCC nationals, and other nationalities. Applicants can start the whole process from the authorized driving institutes, which are available in Abu Dhabi, Dubai, Sharjah, Ras Al Khaimah, and Fujairah.
Individual customers, citizens, and residents, who are above the legal age and medically fit, are eligible to get a driving learning permit and apply for a new driving license. The minimum age requirement to obtain a driving license depends on the vehicle for which you are obtaining the license. The minimum age requirement is as follows:
Driving licenses are renewable for 10 years for UAE and GCCC citizens and 5 years for residents. Renewal of driving licenses is available online in most of the emirates. To renew your driving license, you must settle all your traffic fines. A fine of 10 AED per month will be levied on customers who delay the renewal of their driving license for more than one month.
All Golden Visas, apart from the ones for Investors in property or the public sector, have the same price. It is 2,800 AED. This is a government processing fee.
When you apply for a Golden Visa UAE, the immigration authority checks your application in a few departments. It takes from 72 hours to 30 days.
In case the immigration authority rejects your application, 60% (1,680 AED) will be refunded back to you.
On top of that, any applicant has to pay for a Medical check and Emirates ID. They will cost about 1,000 AED.
Don't forget UAE health insurance too. The price can be different depending on your health conditions and requirements. The minimum basic insurance can be done for about 800 AED.
The documents you need to submit depends on the category of applicant you belong to. Check the requirements for the most popular types of UAE Golden Visa below.
The above are 2 major ways to get a golden visa for investors, which depend on the areas of your investments.
Among the individuals listed with specialized talent are doctors, investors, artists, scientists, and researchers.
They may receive a 10-year UAE Golden Visa once they get the accreditations from their respective fields. In addition, they may sponsor their spouses and children.
Regarding coders, those who can apply are distinguished experts and talents in the area of coding, individuals who have worked for pioneering technological firms, and graduates of computer sciences, hardware engineering, artificial intelligence, software engineering, data science, electrical engineering, and big data.
To obtain the UAE Golden Visa, you must follow a straightforward process. It's very easy, but you have to make sure to have your documents ready since you have to submit them too. In addition, even if you meet the eligibility criteria, you must comply with the requirements.
Here are the steps you must follow to apply for UAE Golden Visa:
If you are looking for a Dubai apartment, villa in Dubai, or short-term rental properties in Dubai, or are just interested to know more about life in Dubai, make sure you contact Driven Properties and get all your questions covered.
The new framework of the Golden Visa in UAE empowers foreigners to live, study, and work in Dubai without any need for national sponsors and with 100% accountability for business on the land of Dubai. These visas are issued for either 5 or 10 years and will be renewed automatically. Golden visa holders will be entitled to discounts and offer on cars, property, health care, hospitality, health insurance, and banking services.
All golden visas, apart from the ones for Investors in property or the public sector, have the same cost. It is 2,800 AED. This is a government processing fee.
The golden visa grants qualifying residents and their family members the right to live, work and study in the UAE.
The Golden Visa can be extended to include the sponsorship of spouses, children, parents, and dependent siblings, depending on the visa category.
You can acquire the UAE's citizenship only through the Rulers' and Crown Princes' Courts, Offices of the Executive Councils, and the Cabinet based on the nominations of federal entities. Contact Federal Authority for Identity and Citizenship for more information.
In 2019, the UAE implemented a new system for long-term residence visas. The new system enables foreigners 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's mainland.
You may obtain a standard resident visa in the UAE. If you buy a residential property in Dubai or any other Emirate worth at least one million Dirhams, you can obtain a UAE residence visa valid for two years.
There is no set GPA for the UAE Golden Visa program. Each application is evaluated on a case-by-case basis, and the visa is granted based on a variety of criteria, including financial stability, educational qualifications, and professional experience.
Yes, you can buy a UAE Golden Visa. The UAE has a specialized residency program that allows investors to obtain a visa in exchange for a real estate investment. The program is open to foreign investors, and you can apply for a visa through the UAE government website. For more information, please visit the UAE Ministry of Interior website.
The UAE Golden Visa is available to foreign investors, entrepreneurs, and talented individuals who meet certain criteria. Eligibility criteria include investing a minimum of AED 10 million in a business or
purchasing a property worth AED 5 million or more, or obtaining a valid employment contract with a fixed salary of AED 12,000 or more. Additionally, a UAE Golden Visa allows for family members of the holder to be eligible for residence in the UAE.
For applicants currently in the UAE, the Golden Visa will cost between AED 2,800 and AED 3,800. For applicants outside of the UAE, the Golden Visa will cost between AED 3,800 and AED 4,800.
One disadvantage of the Golden Visa is that this residency route does not lead to citizenship. You can renew the visa several times and try to apply for citizenship in 30 years. But there are no guarantees. If you want to get a second passport, ROC Citizenship offers several European investment programs.
No, a Golden Visa is not permanent. It is a residence permit that allows individuals to reside in the country for a specific period of time (usually 5 or 10 years) and is renewable depending on the individual's circumstances.
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