Willing to stay longer in the serene city? The UAE introduced a new framework for long-term residence visas.
The new visa policies encourage foreigners to work, live, and study without the support of local sponsors. Moreover, if they own a business on the mainland, you get 100% ownership of the business. The long-term visa is known as the Golden visa gaining popularity since its inception. As per the new guidelines, the government allows candidates or individuals in various sectors to apply for their 10 years residency visa.
UAE golden visa
Golden visa is given to individuals as an award for their generous investment to secure their living in the country. The government considers the Golden visa as an opportunity to grow their foreign direct investment and improve the GDP. Rather than a normal two-year residence visa, a Golden visa allows residence for 5 to 10 years. A business visa is a part of the Golden visa that empower foreigners to ensure a long stay accompanied by their dependents. The golden visa is given to a certain group of people including investors, property owners, professionals, students with specific skills, and experts in science & information. The golden visa was launched in 2019, May 21.
Why do you need a Golden Visa?
Dubi golden visa is popular for its amazing benefits. The visa offer either residence or citizenship.
Some of the benefits include,
As per the new guidelines, the government allows foreigners to work, live and study without the need for a local sponsor. Moreover, they get 100% ownership of their mainland companies. It’s a 5 or 10-year visa and renewed automatically.
A golden visa provides a second home. Having a bank account in another country means less danger in saving funds. A golden visa makes it easy and simple to protect funds through smooth financial arrangements in the country.
The visa holders are treated as UAE nationals. Therefore, it’s easy to travel and you don’t need to apply for a visa again.
UAE is almost a tax-free country. By getting a golden visa, you enjoy all the benefits of a tax-free country. The income and profits are tax-free, so you get benefits while investing in properties, bonds, or business setups.
What are the requirements to obtain a Golden visa in Dubai?
Individuals with an investment of at least AED 10 million can apply for a 10-year visa
The government extends a 10-year visa to business partners with at least AED 10 million in investment
Individuals with AED 5 million investment are eligible for a 5-year visa
Individuals with special skills can apply for a 10-year visa.
Scientists or experts accredited by the Emirates Scientists Council or concerned departments in the UAE.
Applicant must be an educator under the 500 approved international universities mentioned by the Ministry of Education.
The doctor must be a practitioner for at least 20 years
The requirements are similar to a general investor. Although, they can apply for a 5-year visa with a 5 million AED investment.
Exceptional students with at least 95% grade points in public or private schools
University students inside or outside UAE must have a GPA of 3.75 upon graduation.
How to apply for a Dubai golden visa?
The individuals can apply for their golden visa through ICA ( eChannel for citizenship and residency) or the General Directorate of Residency and foreign affairs (GDRFA)
The ICA allows online applications. Alternatively, GDRFA allows both offline and online applications.
How NHBC helps in getting your Golden visa?
NHBC is a certified business setup consultant in Dubai with a proficient team of visa experts. Our PRO executives, seasoned lawyers, and operations staff provide customized visa services and consultations. We follow a customer-centric approach to streamline the visa processes.