All about eligibility criteria for Golden Visa in UAE

It is worth explaining that the UAE Golden Visa is a type of residency visa that was launched in 2019 and targets outstanding international individuals. It is a form of visa that allows foreign individuals in the UAE to live, work, and study without having to secure patronage from a UAE citizen or resident. If you’re curious about how to get the UAE Golden Visa, let us dive into the eligibility criteria of the applicants, the principal advantages of the programme and the application procedure. 

Eligibility Criteria

1. Eligibility for Investors and Business Owners

The UAE Golden Visa caters to investors who contribute significantly to the UAE economy for a period of 10 years:

• Public Investment: Each investor must invest at least AED 2,000,000 in a fund accredited by a UAE financial authority or a business registered in the UAE.
• Real Estate: Applicants with AED 2,000,000 of property assets can apply for the Golden Visa valid for five years. The financing is offered by a few of the UAE banks, and the ownership right vests with the UAE Land Department.
• Business Investment: Only those investors who own companies and contribute an annual tax of AED 250,000 or more to the federal government of UAE can apply for the golden visa, where the capital is fully owned by the investor and must not be a loan.

2. Entrepreneurs with Innovative Ventures

The UAE Golden Visa is also open to entrepreneurs who bring new ideas and technological advancements for a period of 5 years:

• Future-Focused Projects: Persons meeting the criteria of the authorized organizer are persons who have a project. It must reflect innovation, and be worth at least AED 500,000, evidenced by a UAE-certified Auditor.
• Local Approval: Applicants need the approval of local UAE authorities and support from an accredited UAE business incubator.

3. Specialized Professionals in Key Fields

For people with high specialities or talents, it allows them to practice skills in medicine, science, and engineering as well as particular arts under a Golden Visa. The Requirements include:

• Doctors and Scientists: The approval letter must be channelled through medical practice approval of the Ministry of Health and Prevention in the UAE for the doctors and recognition from the Emirates Council of Scientists for the scientists.
• Engineering and Technology Experts: AI specialists, biotechnologists, and data analysis professionals require minimum education to the level of a Bachelor’s or Master’s degree and a work contract in the UAE.
• Creative Professionals: Professionals in art such as artists, authors, cultural performers, and various professionals working under this department must first be approved by the Department of Culture and Arts of the respective emirates.

4. Outstanding Students and High Achievers

The Golden Visa in UAE provides an opportunity for students with high academic achievements for a period of 5 years without a sponsor which is subject to following requirements:

• High School Graduates: Those who passed secondary school earning a minimum score of 95% will automatically qualify them for a five-year visa based on the recommendation from the ministry of education.
• University Graduates: Those who are university students with outstanding performance from any university rated as A or B class under the ministry of education will be provided with the golden visa for a 10-year period. The letter of recommendation from the university or the graduation certificate or academic record which is accredited stating that the cumulative GPA of the individual is not less than 3.5 for any A class university individual and not less than 3.8 for B class university student will be required to be submitted
• Foreign University graduates: Those individuals who are graduated from any foreign university, the university must be among the top 100 global universities the rating system of which must be recognized by the ministry of education and the individual’s cumulative GPA must not be less than 3.5 along with the certificate of graduation to be accredited by the ministry of education.

5. Humanitarians and Frontline Workers

Recognizing the value of humanitarian work, the UAE extends the Golden Visa to humanitarians and those in essential roles:

• Humanitarian Workers: This involves those involved in charitable endeavours, who have to be recommended by the UAE’s relevant authority and must be among the recognized categories as per the regulation.
• Frontline Workers: Those individuals who have played critical role in the crisis such as covid 19 will also be granted the golden visa subject to certain requirements and recommendation. The frontline workers may include the nurses, medical assistants, lab technicians etc.

Core Benefits of the UAE Golden Visa

The UAE Golden Visa offers exclusive benefits designed to make life in the UAE more accessible and rewarding:

• No Need for Sponsorship: Golden Visa holders need not have any local sponsor and have quite limited restrictions to do any business they wish.
• Extended Travel Flexibility: The period over six months outside the UAE will not affect one’s residency for holders.
• Family Sponsorship: Sponsors can bring their spouse, children of any age, and domestic helpers without any restrictions, which will benefit families in need of stability.
• Additional Security for Families: Even after the demise of the visa holder, relatives can stay in UAE and reside there legally till the duration of the visa is over.

Application Steps for the UAE Golden Visa

Entities meeting the eligibility criteria can easily apply for the golden visa through the One Touch Golden Visa service initiated by the UAE government. This service enables easy application and renewal of the golden visa whereby saving the time of the applicants. The applicants can apply through ICP website or the ICP app on the google play or the app store. The applicants can use such facilities whereby the golden visa eligibility and the application could be checked and verified.

Final Thoughts

The UAE Golden Visa is a useful chance for foreigners to have a permanent residence permit for one of the most successful countries in the Middle East. From investors and businesspersons to talented students and qualified specialists, the Golden Visa offers new opportunities with a firm and friendly perspective in the UAE. The main advantages to consider if you want to design your life in the Emirates are the opportunity to obtain a flexible work permit, family sponsorship, and a simple procedure for obtaining the UAE Golden Visa.

How can CDA help?

CDA being one of the leading business set-up service providers in UAE can assist you in ascertaining the required documents for the application of the golden visa. The experts at CDA are always on standby to enable you to understand the complexities related to the visa application and other business set up related services. We assure you that with our expert assistance you could acquire easy visas and other licenses required for your businesses. The experts being well aware of the regulations will enable you to stay complied and avoid any penalties or fines. 

To know more about the services, contact CDA now.