In 2019, the United Arab Emirates (UAE) changed how long-term visas work. This meant that foreigners could live, work, and study in the UAE without having a national guarantor and owning 100% of their businesses.
The change was made to try to get more foreigners to move to the emirate of Dubai, which was hit hard by the pandemic.
What does this Golden Visa do?
The Golden Visa system allows people who fit into the following groups to stay in the country for a long time: investors, entrepreneurs, people with untapped skills like investigators, medical professionals, and people in the technical and knowledge fields, and amazing students.
Through the Golden Visa, the UAE government has made it clear that they want to give emigrants, investors, and anyone else who wants to make the UAE their home another reason to feel safe about their future.
There is a visa that can be applied for by anyone who wants to do so.
GDRFA, the General Directorate of Residency and Foreigners Affairs, or ICA, which is part of the ministry, are the places where people who want to apply for a Golden Visa can do so. They can go to the GDRFA website or ICA. There are both online and offline channels for GDRFA. Only online channels are available for ICA.
The process is very simple, and applicants only need to send in the necessary documents and be willing to move to the UAE in order to work with their business.
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People who want to apply can do so.
It’s possible to get a 10-year visa for investors who have invested at least AED 10 million in the public sector, either through a company or an investment fund. To apply, they need to have at least that amount of money. As long as at least 60% of the investment doesn’t come from real estate and the money isn’t loaned to anyone, investors must own everything that they buy.
As well, the investor should be able to keep their money in the company for at least three years. It’s possible for the business partners to get this 10-year visa, as long as each partner pays AED 10 million. This long-term visa can also include the holder’s spouse and children, as well as one person who makes decisions and another person who helps them.
Entrepreneurs can apply for the visa, but people who have a lot of great skills can do the same. These are people who are doctors, scientists, investors, researchers, and artists.
For the 5-year visa, most of the rules are the same for investors. The only difference is that the amount of money they need to invest is AED 5 million.
People who did well in high school and college are allowed to stay in the United Arab Emirates for five years. High school students who are the best in the country with at least 95% of the votes and students from certain universities with a 3.75 or higher GPA when they finish high school are in.
Besides the above, foreign residents who want to start a business in the United Arab Emirates can get a 5-year residency visa through the Golden Business Visa scheme, as well.
Conditions for people who have unique skills
People in the group above must meet certain requirements before they can apply for residency.
As for the scientists, they should be given credit by the Emirates Scientists Council or people who have won the Mohammed Bin Rashid Medal for Scientific Excellence. People who are good at culture and art should be given credit by the Ministry of Culture and Knowledge Development.
Also, copyrights or scientific research that is published in a world-class journal should show that a person is talented.
It’s important to make sure that doctors and experts have the right tools
Having a Ph.D. from one of the world’s top 500 schools.
in the field of the applicant’s work
Other programmes have been put in place to bring in foreign residents.
The UAE has also changed its residency rules so that foreign university scholars can bring their families to the UAE, as long as they have enough money, the right housing, and the money to support them.
A special residency programme for foreign working professionals who were working from home was also set up by Dubai in October 2020. This programme allowed these people, who were living in the UAE and still working for their companies, to live there while still working in their home countries.
There were also new visas for people over 55 who wanted to live in Dubai in September. They could stay for up to five years, and they could be renewed. As long as you make at least $5,500 a month, own a home in Dubai that’s worth at least $550,000, or have savings of at least $275,000, you can take part in the “Retire in Dubai” plan.
Visit our website if you’re planning a trip to Dubai and want to get a cheap tour package or visa there.
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